该行继续重点推荐后续政策空间的潜在受益标的，包括：康方生物(09926)、传奇生物、云顶新耀-B(01952)等短期催化剂丰富、盈利高增长或盈亏平衡时间点明确、估值有较大修复弹性的创新药标的;先声药业(02096)、中国生物制药(01177)等存在业绩增速+估值倍数共同修复潜力的龙头处方药企。BOC International believes that there is still room for further restoration in the pharmaceutical sector.
The Zhitong Finance App learned that BOC International released a research report stating that it gave the mainland pharmaceutical industry a “leading” rating. Shanghai issued a document proposing the establishment of a 10 billion yuan biomedical industry merger and acquisition fund to promote innovative development and mergers, acquisitions and restructuring of the industry. The bank believes it is conducive to accelerating industry integration.
According to the bank, the pharmaceutical sector recently rebounded slightly after a sharp shock. Considering that the sector's valuation is still at the bottom of history, compounded by subsequent fiscal, health insurance/commercial insurance policies, and improvements in liquidity, the bank believes there is still room for further restoration.
The bank continues to focus on recommending potential beneficiaries of follow-up policy space, including: innovative drug targets with abundant short-term catalysts, high profit growth or clear break-even balance time points, and highly resilient valuations; leading prescription pharmaceutical companies such as Xiansheng Pharmaceutical (02096) and China Biopharmaceutical (01177), which have the potential for joint repair of performance growth and valuation multiples.
At the same time, it is recommended to focus on private medical services and medical and aesthetic standards with strong consumer attributes; and pharmaceutical commercial circulation targets that have high dividend rates and are expected to benefit from improvements in the overall fundamentals of the industry.
