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超额收益显著!4月最牛金股大涨83%,5月券商看好这些板块
券商中国· 2025-05-01 01:04
随着4月股市交易收官,各券商新一期的月度金股也陆续出炉。 回顾4月,券商金股展现出较强的超额收益能力,最牛金股4月大涨83%,由3家券商共同推荐。近四成券商的金股组合4月收益率为正,东北证券、华西证券收益率 超10%。 4月,A股三大指数月线集体收跌,其中创业板指跌逾7%。券商金股却整体表现出较强的超额收益能力,牛股频现。 每市APP显示,券商推荐的4月金股中表现最牛的是万辰集团,主营量贩零食业务,由信达证券、华西证券、东北证券三家券商共同推荐,在4月份大涨83%。涨幅 第二的是农药创新药龙头先达股份,4月大涨61%,由东北证券独家推荐。 涨幅第三的是长城证券推荐的科兴制药,4月上涨55%;排名第四的是华源证券推荐的民士达,4月上涨近55%。此外,4月涨幅较高的金股还包括锦波生物、盐津铺 子、上美股份,单月 均 涨超40%。 从各券商推荐的金股当月表现来看,每市APP收录的46家券商金股数据中,有17家在4月实现正收益,占比约37%。 每市APP显示,东北证券金股组合以13.28%的月收益率拔得头筹,东北证券在4月推中数只大牛股,例如推荐的万辰集团、先达股份4月分别大涨83%、61%。 华西证券则以10.57 ...
爱美客(300896):25Q1业绩承压,期待重磅管线及海外布局顺利推进
NORTHEAST SECURITIES· 2025-04-30 02:18
Investment Rating - The report maintains a "Buy" rating for the company [5]. Core Views - The company reported a revenue of 663 million yuan in Q1 2025, a decrease of 17.90% year-on-year, and a net profit of 444 million yuan, down 15.87% [1]. - Despite the challenging industry environment, the company is expected to show performance resilience through internal enhancements and external expansions, including the acquisition of Korean Regen and the development of its product pipeline [2]. - The company’s gross margin remains high at 93.85%, although the net profit margin has temporarily declined due to reduced revenue [3]. Financial Summary - Revenue projections for 2025-2027 are estimated at 3.338 billion yuan, 3.825 billion yuan, and 4.363 billion yuan, respectively, with corresponding net profits of 2.159 billion yuan, 2.464 billion yuan, and 2.793 billion yuan [4]. - The company’s expense ratio increased to 21.93% in Q1 2025, with sales expenses at 654 million yuan and management expenses at 313.6 million yuan [2]. - The company’s cash flow from operations decreased by 37.99% to 333 million yuan in Q1 2025, attributed to declining net profit and changes in working capital [3].
突然爆发!A股又一赛道,涨停潮
今日,A股继续小幅震荡,主要股指涨跌互现,北证50涨1.23%,科创50坚守1000点大关,上证指数、沪深300等则 微幅飘绿。受节日效应影响,市场成交小幅萎缩,维持低位运行。 盘面上,PEEK材料、动物保健、医疗美容、日用化工等板块涨幅居前,纺织制造、电力、石油、酿酒等板块跌幅 居前。 | ▼指 | 代码 名杯 | | 张帽%↓ | 现价 | 涨跌 | 洪价 | | --- | --- | --- | --- | --- | --- | --- | | 1 | 聚集龙 301131 | R | 20.01 | 45.88 | 7.65 | 45.88 | | 2 | 301076 新潮新材 | R | 19.99 | 41.17 | 6.86 | 41.17 | | 3 | 300225 金力泰 | | 19.88 | 3.86 | 0.64 | 3.85 | | 4 | 301209 联合化学 | R | 18.19 | 98.00 | 15.08 | 97.86 | | 5 | 832469 富恒新材 | R | 15.07 | 16.80 | 2.20 | 16.80 | | 6 | 837023 芭 ...
美护商社行业周报:珀莱雅收入破百亿,泡泡玛特25Q1海外大增-20250428
Guoyuan Securities· 2025-04-28 14:46
[Table_Main] 行业研究|可选消费 证券研究报告 可选消费行业周报、月报 2025 年 04 月 28 日 [Table_Title] 珀莱雅收入破百亿,泡泡玛特 25Q1 海 外大增 ——美护商社行业周报 [Table_ 过去一年PicQuote 市场行情] -14% -5% 5% 15% 25% 4/29 7/28 10/26 1/24 4/24 可选消费 沪深300 资料来源:Wind [Table_ 相关研究报告 DocReport] [Table_Summary] 报告要点: 市场表现 本周(2025.04.21-2025.04.25),申万商贸零售/社会服务/美容护理分 别+0.07%/-0.46%/+3.80%,在 31 个一级行业中排名第 24/28/2;同 期上证综指+0.56%,深证成指+1.38%,沪深 300 指数+0.38%。 细分子板块来看, 美 容 护 理 板 块 , 个 护 用 品 及 化 妆 品 分 别 +7.11%/+4.89,贸易行业+3.85%。酒店餐饮/旅游景区/专业连锁板块 跌幅居前,分别-3.67%/-1.45%/-1.45%。 本周行业重点事件及资讯 ...
中证全指医疗行业指数报531.27点,前十大权重包含上海医药等
Sou Hu Cai Jing· 2025-04-28 09:29
Core Viewpoint - The China Securities Index for the medical industry has shown a decline in performance over various time frames, indicating potential challenges within the sector [2]. Group 1: Index Performance - The China Securities Index for the medical industry has decreased by 5.99% over the past month, 1.12% over the past three months, and 6.26% year-to-date [2]. - The index was established with a base date of December 31, 2021, set at 1000.0 points [2]. Group 2: Index Composition - The top ten weighted companies in the index include: - Mindray Medical (14.15%) - Aier Eye Hospital (9.35%) - United Imaging (8.03%) - Aimeike (4.1%) - Huatai Medical (3.87%) - New Industry (3.16%) - Shanghai Pharmaceuticals (3.11%) - Yuyue Medical (3.06%) - Yifeng Pharmacy (2.49%) - Meinian Onehealth (2.45%) [2]. - The index's holdings are primarily listed on the Shenzhen Stock Exchange (56.76%) and the Shanghai Stock Exchange (43.24%) [2]. Group 3: Sector Allocation - The sector allocation within the index is as follows: - Medical Devices: 34.77% - Medical Consumables: 22.92% - Pharmaceutical Commerce: 15.73% - Medical Services: 14.44% - In Vitro Diagnostics: 12.14% [2]. Group 4: Sample Adjustment - The index samples are adjusted biannually, with adjustments occurring on the next trading day following the second Friday of June and December [3]. - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made in response to significant events affecting sample companies [3].
爱美客(300896):25Q1业绩暂时承压,并购出海有望重拾增速
Tianfeng Securities· 2025-04-28 04:14
Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [6][17]. Core Views - The company experienced a revenue decline of 17.90% year-over-year in Q1 2025, with total revenue of 663 million yuan and a net profit of 444 million yuan, down 15.87% year-over-year [1]. - The gross margin remained stable at 93.85%, with a slight decrease of 0.70 percentage points year-over-year, while the net profit margin increased by 1.61 percentage points to 66.88% [2]. - The company is pursuing growth through acquisitions and international expansion, notably a planned acquisition of a Korean company for 190 million USD, which is expected to enhance its sales capabilities and open up overseas markets [3]. - The company has a robust pipeline of internal R&D projects, with 11 Class III medical device products already available, and several others in various stages of development, which is expected to support a return to growth [4]. Financial Summary - The company forecasts revenues of 3.29 billion yuan, 3.71 billion yuan, and 4.22 billion yuan for 2025, 2026, and 2027 respectively, with net profits projected at 2.13 billion yuan, 2.40 billion yuan, and 2.73 billion yuan for the same years [4][10]. - The company’s financial metrics indicate a PE ratio of 25x for 2025, decreasing to 20x by 2027, reflecting an expected improvement in profitability [4][10].
医药生物行业周报(4月第4周):国产创新药闪耀ASCO
Century Securities· 2025-04-28 02:23
邮箱:xuyl@csco.com.cn 公司具备证券投资咨询业务资格 证券研究报告 医药生物 G 国产创新药闪耀 ASCO [Table_ReportType] 医药生物行业周报(4 月第 4 周) [Table_S 行业ummary 观点:] 请务必阅读文后重要声明及免责条款 [Table_ReportDate] 2025 年 04 月 28 日 [Table_Author] 分析师:王俐媛 执业证书号:S1030524080001 电话:0755-83199599 邮箱:wangly1@csco.com.cn 研究助理:徐伊琳 电话:0755-23602217 [Table_Industry] [Table_BaseData] 1) 周度回顾。上周(4 月 21 日-4 月 25 日)医药生物收 涨 1.16%,跑赢 wind 全 A(1.15%)和沪深 300(0.38%)。 从板块来看,医疗研发外包(6.34%)和原料药(4.72%) 部分个股一季报表现亮眼,涨幅居前,血液制品(- 3.26%)和疫苗(-6.38%)延续上周跌势。从个股来看, 永安药业(31.4%)、舒泰神(28.4%)和尔康制药(2 ...
医美“三剑客”陷业绩困境,玻尿酸“黄金周期”落幕
21世纪经济报道记者 李佳英 广州报道 与同行业其他企业销售费用策略的横向比较显示,华熙生物或许正陷入营销高投入却回报乏力的困境。 2022年其销售费用高达30.49亿元,远超竞争对手爱美客和昊海生科。尽管公司已经连续两年压缩销售 开支至2024年的24.64亿元,净利润率却仍从2022年的15.1%跌至3.2%,销售效率低下的问题愈发突出。 华熙生物的业绩下滑并非偶然事件,而是多重因素交织的结果。从其发展的纵向脉络来看,华熙生物正 处于"第三次战略升级"的阵痛期,专注于糖生物学和细胞生物学两大新兴领域。 财务报告显示,这一转型伴随着管理成本的显著增加——从2022年至2024年,管理费用从3.93亿元增至 6.58亿元,管理费用率也从6.18%上升至12.26%。 2025年首季度,医美行业内的"三剑客"交出的成绩单,却是一串令人瞩目的下滑数字。 根据4月25日至26日公布的财务报告,华熙生物一季度营业收入同比下跌20.77%,缩水至10.78亿元;爱 美客(300896)的收入亦下降17.90%,降至6.63亿元;昊海生科的营收亦减少4.25%,徘徊在6.19亿 元。这一系列下滑的数据,暴露出传统医美企业 ...
【爱美客(300896.SZ)】高基数+产品结构性分化,拖累一季度业绩表现——2025年一季报点评(姜浩)
光大证券研究· 2025-04-26 13:01
点击注册小程序 查看完整报告 特别申明: 本订阅号中所涉及的证券研究信息由光大证券研究所编写,仅面向光大证券专业投资者客户,用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户,请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限,若给您造成不便,敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 报告摘要 事件: 公司发布2025年一季报,1Q2025营业收入为6.6亿元,同比下滑17.9%,归母净利润为4.4亿元,同比下滑 15.9%。 点评: 高基数+产品结构分化,一季度业绩有所下滑 我们认为,公司一季度收入同比下滑主要原因系:第一,去年同期基数较高;第二,产品销售结构性分 化,溶液类产品整体出货价格走低。 产品结构性分化,一季度毛利率略有下滑 1Q2025,公司毛利率为93.9%,同比-0.7pcts;归母净利率为66.9%,同比+1.6pcts。我们认为,公司一季 度毛利率同比微降也是受产品出货结构的影响。 1Q2025公司期间费用率同比+4.1pcts至21.9%。分项目看,销售/管理/研发/财务费用率分别为 9.9% ...
爱美客(300896):高基数+产品结构性分化,拖累一季度业绩表现
EBSCN· 2025-04-26 10:42
Investment Rating - The report maintains a "Buy" rating for the company [5][15]. Core Views - The company's Q1 2025 performance showed a decline in revenue and net profit due to a high base from the previous year and a structural differentiation in product sales, particularly a decrease in the overall selling price of solution products [1][2]. - The gross margin slightly decreased to 93.9%, down by 0.7 percentage points year-on-year, while the net profit margin increased to 66.9%, up by 1.6 percentage points year-on-year [2]. - The company is expected to achieve long-term growth through overseas expansion and strengthening its new product lineup, with the acquisition of REGEN Biotech, Inc. enhancing its regenerative product system and facilitating international market entry [3]. Financial Performance Summary - Q1 2025 revenue was 660 million yuan, a year-on-year decrease of 17.9%, and net profit was 440 million yuan, down 15.9% year-on-year [1]. - The company’s operating expenses increased by 4.1 percentage points year-on-year to 21.9% [2]. - Other income rose significantly by 559.6% year-on-year to 21.71 million yuan, mainly due to increased government subsidies [2]. Earnings Forecast and Valuation - Revenue and net profit forecasts for 2025-2027 are maintained, with expected EPS of 6.84, 8.10, and 9.30 yuan respectively, corresponding to P/E ratios of 25, 21, and 19 times [3][4]. - The company is projected to achieve revenue of 3.213 billion yuan in 2025, with a growth rate of 6.18% [4]. - The net profit for 2025 is estimated at 2.071 billion yuan, reflecting a growth rate of 5.77% [4]. Profitability and Financial Ratios - The gross margin is projected to be 94.2% in 2025, with a slight decrease from previous years [13]. - The return on equity (ROE) is expected to decline gradually from 29.28% in 2023 to 22.29% in 2027 [13]. - The company maintains a strong liquidity position, with a current ratio projected at 26.22 in 2025 [13].