石藥集團 (1093.HK): 創新藥銷售增長強勁 July 9, 2018

投資概要

近一個月,公司股價下挫近17%,現收集機會。公司是港股醫藥上市龍頭,基本面穩定,管理層維持近五年20-30%的淨利潤增長目標不變,我們預計2018年、2019年的 EPS為0.59港元/0.78港元,基於42倍目標市盈率,維持目標價24.8港元。

公司概況

2018年一季度業績增長顯著。公司一季度銷售收入同比增長55%(5387百萬港幣),經營溢利同比增長41%,主要是由於銷售人員擴充以及研發投入增加,經營溢利率有所下降(下降2個百分點)。淨利潤同比增長42%,預計整個上半年業績增長勢頭強勁。

About the author

Profile photo of Eurus Zhou

Eurus Zhou
Phillip Securities (HK)

Graduated from Hong Kong Polytechnic University, Master of Finance (Investment Management). Possess bachelor degree majoring in Financial Management from Southwestern University of Finance and Economics. Focus on industry prospect and corporate fundamentals to explore investment value and cover pharmaceutical and consumer industry.

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