Jinwu Financial News | Sansheng Pharmaceutical (01530) rebounded higher. As of press release, it reported HK$5.91, up 8.84%, with a turnover of HK$140 million.
According to the news, Lyon published a report saying that Sansheng Pharmaceutical's revenue last year was in line with expectations, but profits were 24.5% lower than the bank's expectations, mainly because sales and promotion expenses were higher than expected. Since pipeline products in preparation will only be launched after 2025, it is estimated that this year will be a relatively quiet year for the company. In response to the company's positive action to increase shareholder returns, the target price was raised from HK$5.7 to HK$6.2, reflecting a projected price-earnings ratio of 6.5 times, maintaining the “outperforming the market” rating.
Pacific Securities said that the company's main business grew steadily in 2023, net profit from operating expenses was basically in line with expectations, and the dividend payout ratio increased. The company's revenue for 2024-2026 is estimated to be 87.44/95.35/10.269 billion yuan, respectively, up 12%/9%/8% year on year, and net profit to mother is 20.13/22.44/2,508 billion yuan, respectively, up 30%/12% year on year, respectively, and the corresponding valuation is 6X/6X/5X. Considering the steady growth of the company's main business and the formation of an echelon of products under development, it has gradually entered the cashout stage and maintained a “buy” investment rating.