《大行》中金升信達生物(01801.HK)目標價至118.3元 上半年純利遠勝預期
中金研究報告表示,信達生物(01801.HK)今年上半年收入59.5億元人民幣(下同),按年增50.65%,符合該行預期;歸母淨利潤8.34億元,non-IFRS淨利潤12.1億元,盈利幅度大幅超該行預期。該行預計下半年以瑪仕度(月太)和有望獲批的匹康奇拜單抗爲代表的新產品會進一步貢獻增長動力。
中金又認爲,公司在腫瘤產品和綜合產品領域進行了多維佈局,未來有望孵化出更多創新增長點。
考慮到公司上半年營運盈利能力超預期,中金上調2025年淨利潤預測84.3%至8.71億元,基本維持2026年歸母淨利潤預測13億元不變,維持「跑贏行業」評級,考慮到營運效率提升和創新管線進展,基於DCF模型上調目標價24.1%至118.3港元。
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