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Strong Week for Shenzhen Hepalink Pharmaceutical Group (SZSE:002399) Shareholders Doesn't Alleviate Pain of Five-year Loss
HEPALINK: 2024 INTERIM REPORT
DBS: Maintains a 'Market Perform' rating on Hepalink (09989) with a target price lowered to HKD 3.5.
Da Ma raised hepalink (09989) 2024 profit forecast by 7%.
With a compound annual growth rate of only 2.6% over the past five years, China's top 100 pharmaceutical companies are entering an adjustment period. How will the industry break through under internal and external pressures?
According to the data from China Meheco Group, in 2023, multiple operation indicators of the pharmaceutical industry's leading companies have declined. The compound annual growth rate of the top 100 pharmaceutical companies in the country in the past five years is only 2.6%, and the industry as a whole has entered the adjustment phase from the initial high-speed growth. Behind the weak growth, the health industry is also undergoing transformation: overseas licensing trades for innovative drugs have reached a new high, and leading companies are accelerating outward expansion...
Founder Securities: the revenue growth rate of the pharmacy sector slows down, and the concentration is expected to accelerate.
The individual account reform of medical insurance has led to a decrease in personal account income, affecting pharmaceutical sales and pharmacy business relying on individual account payments. In 2023, pharmacy medical insurance personal account expenditures decreased by 9%, and this trend is expected to continue in 2024.
Revenue and profit both increased, analyzing the steady growth trend of Hepalink (002399.SZ/9989.HK).
Recently, the leading enterprise in the heparin industry chain, Hepalink, released its mid-term financial report for 2024. A review of this report reveals that despite facing market challenges, the company is continuously improving the core business of the heparin complete industry chain and rapidly enhancing the profitability of the CDMO business, while consistently advancing the research and commercialization of innovative drugs. This not only demonstrates its steady growth but also showcases strong development resilience. 1. The financial structure continues to optimize, with cash flow growing positively for four consecutive quarters. The performance is intuitively visible. According to the financial report, in the first half of this year, Hepalink achieved a revenue of 2.837 billion yuan, a year-on-year increase of 4.5 billion.
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