郭思治: 滿貫集團(03390.HK)底子厚實拓新中式保健品牌 目標價2元
香港股票分析師協會副主席郭思治稱,醫療板塊一直備受中長線看好,尤其在疫苗開始接種後,零售業憧憬經濟可望復甦,加上國策支持,以及市民疫情後更注重醫療健康產品等,均令資金流入醫藥相關股份。滿貫集團(03390.HK)及健倍苗苗(02161.HK)昨晚(8日)出公告,將會成立合營企業,戰略合作建立全新中式保健品品牌,搶攻大中華地區的千億級大健康產業市場。今早滿貫及健倍苗苗股價均見支持,表現不俗。
滿貫集團為香港中成藥行業三大分銷商之一,代理分銷逾百品牌,擁有豐富的品牌管理經驗。去年疫情下自由行難以抵港,滿貫大力拓展國內電商業務,在京東、天貓等知名平台開設網店,在面向全中國市場下,2020年全年電商銷售收入近2.25億港元,較2019年激增超過5倍,搶灘電商業務成功,更有利集團大灣區的業務拓展。滿貫2020下半年虧損大幅收窄74%,加上電商業務帶動,有望在2021年中期達虧轉盈。
而健倍苗苗年初剛由雅各臣(02633.HK)分拆獨立上市,旗下品牌如保濟丸、何濟公、唐太宗活絡油等個個家傳戶曉,營收能力不容置疑,以健倍苗苗的品牌效應及研發生產能力,加上滿貫的品牌管理經驗及強大分銷網絡,令新品牌創立及推廣事半功倍。
事實上滿貫底子厚實,雅各臣為其基石投資者,即使早已過了禁售期可離場,但至今未嘗減持股份,更增持了290萬股;除了雅各臣及健倍苗苗,華潤醫藥(03320.HK)亦是滿貫股東之一,與集團有多方面合作。
上市近一年,滿貫股價自年初開始發力,突破橫行區,穩步上升,預期在疫苗產生效用後,自由行恢復帶動零售市場轉好,目標價2元,止蝕價1.45元。
(筆者為證監會持牌人)~
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