Core Viewpoint - Goldman Sachs reported that Weigao Group (01066) experienced a revenue of 3.26 billion RMB in Q3, representing a year-on-year growth of 2.6%, compared to flat growth in the first half of the year [1] Revenue Performance - The pharmaceutical packaging and general medical consumables business continues to face pressure due to insufficient sales growth to offset the pricing pressure from volume-based procurement (VBP), particularly in the flushing syringe segment [1] - The growth rate of product promotion during surgeries is slower than expected in a weak macroeconomic environment [1] - Conversely, revenue from orthopedics, interventional therapy, and blood management businesses showed relatively strong growth [1] Forecast Adjustments - Due to ongoing pricing pressures, the firm has lowered its revenue and net profit forecasts for 2025 by 4.4% and 8.5%, respectively [1] - The current expectation for full-year revenue is a year-on-year increase of 1.9%, while profit is anticipated to decline by 7.8% [1] Target Price Revision - The target price has been reduced from 7.8 HKD to 7.4 HKD, while maintaining a "Buy" rating [1]
高盛：降威高股份(01066)目标价至7.4港元 料带量采购令定价压力持续