Core Viewpoint - SenSong International (02155) has seen a significant increase in stock price, rising over 9% to HKD 10.84, with a trading volume of HKD 177 million. The company reported a substantial growth in new orders and backlog, particularly in the pharmaceutical sector, indicating strong market demand and effective order conversion strategies [1]. Group 1: Financial Performance - In the first half of the year, SenSong International secured new orders amounting to CNY 5.996 billion, representing a year-on-year increase of 89.5% [1]. - The new orders in the pharmaceutical sector reached CNY 4.372 billion, showing a remarkable year-on-year growth of 642% [1]. - As of the first half of the year, the company's backlog of orders stood at CNY 10.566 billion, which is a 20.4% increase year-on-year, marking a historical high [1]. Group 2: Market Outlook - Huatai Securities attributes the company's performance to a strong recovery in overseas pharmaceutical CAPEX demand, which the company has effectively capitalized on [1]. - The firm anticipates a slight increase in the company's net profit attributable to shareholders in 2025, with expectations of significant growth in new orders [1]. - Starting from 2026, the company is expected to resume double-digit year-on-year growth in net profit attributable to shareholders, driven by reduced impairment losses and increased new orders [1]. Group 3: Regulatory Environment - On September 25, former U.S. President Trump announced new high tariffs on various imported products, effective October 1, which includes a 100% tariff on all imported brand or patented pharmaceuticals unless companies have already begun construction of manufacturing plants in the U.S. [1]. - SenSong International is positioned as a leading one-stop comprehensive solution provider with extensive experience in high-end equipment, process modules, and modular factory projects, giving it a competitive edge in quality, delivery, and pricing [1].
森松国际涨超9%上半年新签订单超预期 公司将受益海外医药动能释放