You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
野村:維持中國生物製藥(1177.HK)買入評級 目標價8.97港元
格隆匯 02-26 13:33

野村發表研究報吿指,預期今年中國生物製藥(1177.HK)對北京科興的投資可能會為其帶來23億元人民幣的投資收益。但是,疫苗價格可能會下降,即使假設每年接種疫苗,也會導致未來的增長几乎持平。因此,該行認為疫苗相關的投資收益是一次性的可能性更大,計及潛在的市值貢獻,維持目標價8.97港元及買入評級。

野村假設到2021年疫苗產量為10億瓶,料科興生物的疫苗的50%將出售至海外市場。展望將來,由於疫苗生產中全球協調性的提高以及產能的進一步提高,料中國科興疫苗的產量將在2022及2023財年分別增至12億和14億瓶。

儘管中國國藥集團的新冠疫苗最初定價為每瓶200元人民幣,但該行料逾95%在中國銷售的科興疫苗定價將為每瓶40元。而在海外市場,科興疫苗的價格為每瓶10至14美元,該行料約有20%的疫苗將作為人道主義援助發展中國家,以更優惠的價格出售。考慮到市場競爭激烈和本地疫苗供應增加,預計2022至23財年,疫苗的價格將有20%的折扣。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account