《大行報告》瑞銀升康方生物(09926.HK)目標價至63.5元 去年業績遜
瑞銀發表研究報告指,康方生物(09926.HK)去年收入按年升4.4倍至45億元人民幣。當中,下半年收入增26%至8.49億元人民幣,但遜於瑞銀及市場預測;產品銷售升4%至8.37億元人民幣,同樣遜於預期。去年集團的純利為20億元人民幣,即下半年淨虧損達4.97億元人民幣,高於該行及市場分別預計的虧損8,600萬及2.32億。
該行提到,雖然集團未就今年銷售作出指引,但目標為高於去年的銷售額,如果政策有利,將會考慮納入國家報銷藥品清單(NRDL)。
該行下調集團2024至26年的收入及利潤率預測,將2024年由預期每股盈利0.61元人民幣調整至每股虧損0.35元人民幣,而2025至26年的每股盈測則降至0.77及1.75元人民幣。目標價由58.4元上調至63.5元,評級為「買入」。
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