石药集团(01093)9M25业绩回顾:成药各板块收入环比改善,关注管线对外授权机会公司研究 海通证券(香港) 孟科含,John Nie
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摘要
AbstractIn 9M25, CPSC achieved revenue of CNY19.9bn (a y-y decrease of 12%), including finished drug revenue of CNY15.5bn (a y-y decrease of 17%), revenue from APIs of CNY3.0bn (+10% y-y) and sales from functional foods of CNY14bn (a y-y increase of 11%). The GPM was 65.6% (-4.9ppts y-y). R&D expenses were CNY4.2bn (+8% y-y), and the R&D expense ratio was 21.0% (+3.9ppts y-y). The sales expense ratio was
核心观点
Key Takeaways- 01In 9M25, CPSC achieved revenue of CNY19.9bn (a y-y decrease of 12%), including finished drug revenue of CNY15.5bn (a y-y decrease of 17%), revenue from APIs of CNY3.0bn (+10% y-y) and sales from functional foods of CNY14bn (a y-y increase of 11%). The GPM was 65.6% (-4.9ppts y-y). R&D expenses were CNY4.2bn (+8% y-y), and the R&D expense ratio was 21.0% (+3.9ppts y-y). The sales expense ratio was。
报告信息
Report Data- 券商
- 海通证券
- 分类
- 个股 / 港股
- 页数 / 大小
- 14 页 · 1.4 MB
- 发布日期
- 2025-11-25