The Zhitong Finance App learned that Smore International (06969) is now up more than 5%. As of press release, it has risen 5.17% to HK$7.12, with a turnover of HK$41.55,500.
CITIC Construction Investment pointed out that the domestic market has entered an era of orderly management, and the market is expected to resume healthy growth in the future as non-compliant products are cleared and new national standard product capabilities continue to improve. Overseas, the FDA is strengthening enforcement every quarter, and the direction of supervision is becoming stricter globally. The bank believes that manufacturers with diversified products and technical reserves and compliant operations, represented by the company, are expected to benefit. In terms of new business, the company already has 3 formulations and devices for asthma and COPD approved by European and American drug regulatory agencies. Two respiratory equivalent drugs have achieved experimental bioequivalence in vitro, and future commercialization can be expected.
Dongxing Securities, on the other hand, pointed out that looking ahead to 24 years, the company's gross margin is expected to stabilize or decline slightly. Thanks to improvements in operational efficiency and scale effects, the gross margin of disposable products increased quarterly in '23, hedging the impact of product structure on gross margin to a certain extent in the future. While the company continues to strengthen marketing and operation capabilities and increase R&D investment, management and R&D efficiency has improved. Overall, the cost rate may remain stable.