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研報掘金丨浙商證券:雲南白藥業績略超預期,維持“買入”評級
格隆匯 04-02 17:30

浙商證券研報指出,雲南白藥(000538.SZ)24年歸母淨利潤47.49 億元(同比+16.02%), 扣非歸母淨利潤45.23 億元(同比+20.18%);單Q4歸母淨利潤4.23億元(同比扭虧為盈),扣非歸母淨利潤2.58億元(同比扭虧為盈);業績略超預期。考慮到公司具有較強的品牌優勢和渠道優勢,維持“買入”評級。看好公司在聚焦挖潛增效,強化降本增效下“內涵式”增長向好,並有望通過“外延式”發展補全補強現有業務結構。展望未來,看好公司藥品事業羣抓住老齡化機遇,在發展好白藥優勢產品的基礎上實現品牌中藥的戰略性增長;健康品事業羣則在擴大其在口腔護理領域領先優勢基礎上快速提升洗護業務規模。

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