医药生物行业24Q4业绩前瞻：创新药收入增长持续兑现，CXO迎来拐点

Investment Rating - The investment rating for the pharmaceutical and biotechnology industry is positive, with a focus on growth opportunities driven by payment expansion and innovation in drug development [2][22]. Core Insights - The report highlights sustained revenue growth in innovative drugs and a favorable trend in the medical device sector, indicating a robust outlook for the industry [2][3]. - A total of 46 pharmaceutical companies are projected to show significant profit growth in Q4 2024, with several companies expected to achieve over 100% year-on-year profit increases [5][10]. - The report emphasizes the importance of monitoring companies involved in innovative drugs and medical devices, particularly those benefiting from recent policy changes [2][5]. Performance Forecast Profit Forecast - Nine companies are expected to achieve profit growth of 100% or more, including: - Jianfan Biological: 200 million CNY, +1450.0% YoY - Boji Pharmaceutical: 20 million CNY, +1408.0% YoY - Heng Rui Pharmaceutical: 1.8 billion CNY, +117.2% YoY [5][8]. - Four companies are projected to have profit growth between 50% and 85% [5][7]. Revenue Forecast - Five companies are expected to achieve revenue growth of 40% or more, including: - Beida Pharmaceutical: 790 million CNY, +92.0% YoY - Jianfan Biological: 700 million CNY, +60.0% YoY - Yuyue Medical: 1.96 billion CNY, +50.0% YoY [10][13]. - Seven companies are projected to have revenue growth between 30% and 40% [10][12]. Key Companies to Watch - The report suggests focusing on innovative drug and device companies such as Heng Rui Pharmaceutical, Beida Pharmaceutical, and Yuyue Medical due to their strong growth potential [2][5]. - Companies with significant overseas business, such as WuXi AppTec and Kailai Ying, are also highlighted for their growth trajectory [2][5].