Jinwu Financial News | According to Tianfeng Securities Research Report, China Resources Pharmaceutical (03320) issued the 2023 annual results announcement. In 2023, the company achieved operating income of 244.704 billion yuan, an increase of 12.2%; achieved gross profit of 38.337 billion yuan, an increase of 14.0%; realized net profit attributable to mother of 3.854 billion yuan, an increase of 10.1% year on year; realized net profit deducted from mother of 4.190 billion yuan, an increase of 21.7% year on year. The business growth of each division of the company was steady, and the pharmaceutical business performed well.
According to the bank, as a leading comprehensive pharmaceutical leader in China, the bank believes that the pharmaceutical and distribution business performance in 2023 was slightly lower than expected due to external policy influence, but the company continued to carry out epitaxial mergers and acquisitions and internal business optimization, and the pharmaceutical business grew rapidly, which is expected to drive an increase in profitability. The net profit forecast for 2024-2025 was lowered from HK$5.806/6.856 billion to HK$4.705/5.156 billion, and the net profit forecast for 2026 was HK$5.656 billion; the “buy” rating was maintained.