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HAITONG INT'L: Maintains SH PHARMA "Outperform the Market" rating, with the Target Price raised to HKD 14.39.
HAITONG INT'L released a research report stating that it slightly lowered the revenue forecast for SH PHARMA (02607) for 2024 to 27.73 billion yuan, and slightly raised the revenue forecast for 2025/26 to 30.08/32.4 billion yuan, to reflect the impact of acquisitions and Huang Pharmaceutical; it slightly lowered theNet income forecast for 2024/25/26 to 4.8/5.4/5.7 billion yuan, respectively. The bank uses a cash flow discount model and cash flows from FY25-FY33 for valuation. Based on a WACC of 6.2%, a perpetual growth rate of 3%, and a 60% discount of Hong Kong stocks to A-shares (all unchanged), the corresponding Target Price is raised by 4.1.
[Brokerage Focus] HAITONG INT'L maintains SH PHARMA (02607) outperform rating, expects a 6.5% year-on-year revenue growth for the full year 2024.
Jinwu Financial News | HAITONG INT'L issued a research report indicating that SH PHARMA (02607) is expected to achieve revenue of 277.3 billion yuan in 2024, up 6.5% year-on-year. By Sector: Pharmaceutical Commerce Sector (Distribution + Retail): The bank expects that in 2024, Pharmaceutical Commerce will achieve revenue of 252.7 billion yuan, an increase of 8.0% year-on-year. Among this, the expected revenue from the pharmaceutical distribution business is 252.9 billion yuan (including inter-segment transactions), growing by 8.2% year-on-year, mainly due to the revenue increments from CSO business, import agency business, and SPD (Logistics management) business. Pharmaceutical Industry Sector: The bank expects that in 2024, the pharmaceutical industry...
SH PHARMA (601607.SH): Ursodeoxycholic acid capsules have been approved for production.
On January 22, Gelonghui reported that SH PHARMA (601607.SH) announced that its holding subsidiary, Changzhou Pharmaceutical Factory Co., Ltd. (referred to as "Changzhou Pharmaceutical Factory"), has received the "Pharmaceutical Registration Certificate" (Certificate No: 2025S00209) issued by the National Medical Products Administration for ursodeoxycholic acid capsules (specification: 250mg; referred to as "the pharmaceutical"). This pharmaceutical has been approved for production. Ursodeoxycholic acid capsules are primarily used to treat cholesterol gallstones in the gallbladder—specifically, stones that are penetrable by X-rays, and the gallbladder must have normal contraction function; cholestatic liver disease (e.g., primary biliary cirrhosis); and bile reflux gastritis.
China Securities Co.,Ltd.: Policy encouragement + new technology promotion + overseas opportunities create new chances, maintaining a bullish outlook on the Innovative Drugs industry.
National policies encourage the development of Innovative Drugs, new technologies promote the rapid growth of the Industry, new opportunities arise for going overseas, and there is a continuous Bullish outlook for the Innovative Drugs Industry.
WuXi AppTec leads the surge of Hong Kong stock pharmaceutical shares, while Global Biomedical investment and financing shows signs of recovery.
① The WuXi AppTec system leads the rise of Hong Kong pharmaceutical stocks, which Bullish factors are worth paying attention to? ② Global Biomedical investment and financing has seen some recovery, how do Institutions view it?
Sinolink: The policy inflection point is clear, suggesting to start increasing allocation in the pharmaceutical sector.
In the segmented Industry, it is recommended to focus on allocating resources to Innovative Drugs and left-side Sectors (such as Medical Device, Traditional Chinese Medicine, Consumer Medical, chain pharmacies, etc.) for opportunities in reverse situations of individual stocks as the two main lines.
Return Trends At Shanghai Pharmaceuticals Holding (SHSE:601607) Aren't Appealing
