藥明生物(02269.HK):藥物開發端及生產端預料之外影響收入和利潤 料今年毛利率及增速具挑戰
藥明生物(02269.HK)今日(4日)召開業務最新消息會議,根據有關公司業務營運的財務及其他資料的簡報,由於新冠收入快速降低,公司整體收入包括新冠已是高基數,在達成行業兩倍增速的情況下業務表現或將不及預期。而公司藥物開發端(D端)及生產端(M端)預料之外,影響今年收入和利潤。
公司指出,藥物開發業務端收入增速低於預期,主要由於在下行周期中公司2023年目標新增120個項目顯然過於激進。生物技術融資放緩導致新增項目減少:比去年減少40個新項目意味著約3億美元收入的減少。正在逐漸恢復中,但是不同區域的情況各不相同。通過WBS優化資源分配以提升效率並開發下一代的先進技術。
至於公司生產端收入下降主要由於:今年下半年的主要意外是由於監管機構批准滯後,3個來自大藥企的重磅藥延期,影響約1億美元收入。新冠生產收入在2022年上漲逾35%,今年非新冠項目填補大部分空缺,因此今年生產收入基本持平。
此外,公司提及生物技術融資放緩帶來的短暫影響導致今年新增項目比去年明顯下降;CMO項目中長期增長確定性強,然而短期面臨項目收入延期問題。
中長期方面,公司料今年和明年上半年最具挑戰,預計明年下半年逐步回暖。當中,今年的毛利率和增速最具挑戰,但在未來幾年預期毛利率和增速將逐步恢復增長:2024年穩健增長,2025年及以後預期恢復強勁增長。
藥明生物今早股價曾跌24.6%低見32.8元,現報35元,跌19.54%,成交6,757.73萬股,涉資23.87億元。
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.