《大行报告》大和首予诺辉健康(06606.HK)「买入」评级 目标价70元
大和发表研究报告,首予诺辉健康(06606.HK)「买入」评级,目标价70元。报告指公司属内地大肠直肠癌筛查产品市场先驱,受惠核心产品常卫清(ColoClear)优异表现,正迈向行业领导地位。长远而言,受惠内地癌症筛查市场快速扩张及公司持续研发投入,该行相信公司收入将增加,并扩大渠道至更多特定癌症筛查市场。
报告称,常卫清作为唯一一款获国家药品监督管理局(NMPA)认可大肠直肠癌筛查产品,加上辅助产品噗噗管(Pupu Tube),将快速取得内地直肠癌筛查市场份额。该行料常卫清今年贡献收入1.2亿元人民币(下同),明年及後年进一步增加至3.3亿及7.1亿元。
此外,公司受惠於由检测中心至医院的产品商业化。届去年第三季止,诺辉健康覆盖235家身体检查中心及316家医院及诊所。报告料非检查收入占比将由今年料约67%扩至2024年料占79%,推高常卫清毛利率由2020年的70%升至2024年82%。
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