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《大行》富瑞升石藥集團(01093.HK)目標價至7.2元 維持「跑輸大市」評級
富瑞發表研究報告,指石藥集團(01093.HK)去年業績仍面臨壓力,全年收入按年跌10%至260億元人民幣(下同),遜預期。雖然管理層預期成品藥業務今年可恢復正增長,但市場關注潛在帶量採購(VBP)風險,包括鹽酸伊立替康脂質體注射液可能被納入全國VBP。富瑞認為,管理階層預期帶量採購的不利因素將在今年持續。雖然業務拓展(BD)是關鍵,但市場仍將股價押注預付款...
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《大行》富瑞升石藥集團(01093.HK)目標價至7.2元 維持「跑輸大市」評級
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富瑞發表研究報告,指石藥集團(01093.HK)  +0.090 (+0.936%)    Short selling $314.42M; Ratio 92.374%   去年業績仍面臨壓力,全年收入按年跌10%至260億元人民幣(下同),遜預期。雖然管理層預期成品藥業務今年可恢復正增長,但市場關注潛在帶量採購(VBP)風險,包括鹽酸伊立替康脂質體注射液可能被納入全國VBP。

富瑞認為,管理階層預期帶量採購的不利因素將在今年持續。雖然業務拓展(BD)是關鍵,但市場仍將股價押注預付款憧憬,隨着預期上調,失望的風險正在上升。

該行維持石藥「跑輸大市」評級,但目標價由5.9元升至7.2元。(hc/w)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)

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