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《大行報告》大和下調維亞生物(01873.HK)目標價至9.7元 評級「買入」
阿思達克 09-01 11:10
大和發表報告,將維亞生物2021年至2023年收入預測降低5%至9%,調整後的凈利潤降低8%至25%,以反映上半年化學合同開發及製造組織(CDMO)收入增長的放緩,以及藥物研發部門和化學合同開發及製造組織部門之間的業務整合導致的銷售、一般事務及管理費用上升。目標價由12元下調至9.7元,維持評級「買入」。 大和指,維亞生物上半年收入按年增長419.5%至10.27億元人民幣,而調整後的凈利潤按年增長65.6%至2.05億元人民幣。上半年的收入佔該行全年預測的40%,佔市場預期42%,並低於2019年44%的水平,大和認為收入未達預期歸因於正在擴大產能的化學CDMO部門的收入按年下降12.8%,預測該部門在2022年的收入將恢復到按年增長30%,基於到2021年底產能將增加60%。
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