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研報掘金丨東方證券:維持康龍化成“增持”評級,目標價24.38元
格隆匯 04-08 17:17

東方證券研報指出,康龍化成(300759.SZ)24年歸母淨利潤17.93億元(同比+12.0%),24年各季度環比持續改善。24年實驗室服務實現收入70.47億元(+5.8%)。其中,生物科學板塊保持快速增長, 24Q4 創下全年單季度最高收入紀錄,其中實驗室服務板塊營收佔比已上升至54%;2)CMC服務實現收入29.89億元(+10.2%)。隨着越來越多的臨牀後期以及商業化階段的項目交付,毛利率24年逐季度穩定提升。新簽訂單快速回暖,24年公司新簽訂單金額同比增長超過20%,推動業績穩健增長。根據PE估值法,參考可比公司估值水平,給予公司2025年23倍市盈率,對應目標價為24.38元,維持“增持”評級。

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