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《大行》花旗對恆瑞醫藥未來三年業績預測(表)
有「藥中茅臺」之稱的內地大型藥廠恆瑞醫藥(01276.HK)今日首日掛牌,開報57元,較上市價44.05元高出29.4%,其後盤中曾高見60.6元,半日收57.65元,較上市價44.05元高出30.9%,成交額39.19億元。恆瑞醫藥A股(600276.SH)半日收55.36元人民幣,微跌0.07%。 花旗5月初發表報告,料恆瑞醫藥(600276.SH)2024年至2027年收入複合增長率爲21%,總藥品銷售額複合增長率爲22%,料創新藥業務收入複合增長率35%。 該行亦列出對恆瑞醫藥(600276.SH)未來三年業績預測: 分項│2025年預測│2026年預測│2027年預測 收入│354.93億元│419.37億元│493.27億元 毛利│305.88億元│363.53億元│429.97億元 營運溢利│103.44億元│126.12億元│149.3億元 EBIT│99.36億元│121.31億元│143.65億元 純利│87.77億元│106.77億元│126.51億元 毛利率│86.2%│86.7%│87.2% 淨利潤率│24.7%│25.5%│25.6% 以上貨幣單位均爲人民幣 --------------------------------- 分項│2025年預測│2026年預測│2027年預測 收入│354.93億元│419.37億元│493.27億元 -銷售藥品收入│319.73億元│381.14億元│451.84億元 -->創新藥收入│177.3億元│240.04億元│317.62億元 -->仿製藥收入│142.44億元│141.1億元│134.22億元 -許可(Licensing)收入│32.37億元│35.31億元│38.42億元
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