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《大行報告》天風証券首次覆蓋藥明合聯(02268.HK) 給予「買入」評級
阿思達克 02-19 10:17
天風証券首次覆蓋藥明合聯(02268.HK),預計公司2023至2025年收入分別為20.29/32.5/49.02億元人民幣(下同),淨利潤分別為2.83/5.69/9.59億元,看好公司處於快速成長階段。近期港股市場波動較大,公司股價回調較多,看好公司業績的長期快速增長,給予「買入」評級。 天風証券指,藥明合聯是一家全球領先的生物偶聯藥物CRDMO服務公司,專注於提供ADC等生物偶聯藥物、mAb中間體、連接子及有效載荷的發現、工藝開發及GMP製造等端到端服務,已構建一站式生物偶聯藥物外包服務平台。公司服務客戶項目數量位居全球第一。該行認為隨著公司賦能、跟隨並贏得分子策略進入成熟期,全球化品牌效應提升以及自有產能逐步釋放,公司的全球市佔率有望持續提升。
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