ZHONGSHENGYAOYE(SZ:002317) Xinda Securities·2025-05-23 08:23Investment Rating - The report assigns a "Buy" rating for the stock of Zhongsheng Pharmaceutical (002317) based on its strong market potential and recent product approvals [1]. Core Insights - The approval of Anglavei (Anruiwei®) marks a significant breakthrough for the company in the innovative drug sector, with expectations for rapid market penetration in the over 10 billion RMB influenza market [2][3]. - The company is advancing its innovative drug pipeline, including RAY1225, which has shown promising results in clinical trials for obesity and type 2 diabetes, and ZSP1601, targeting MASH, which is progressing well in clinical trials [4][5][8]. Financial Summary - The projected revenue for Zhongsheng Pharmaceutical is expected to grow from 27.65 billion RMB in 2025 to 37.74 billion RMB by 2027, with net profit forecasts of 3.00 billion RMB and 5.17 billion RMB respectively [11]. - The company’s gross margin is projected to improve from 56.5% in 2025 to 60.6% by 2027, indicating enhanced profitability [10][11]. - The earnings per share (EPS) is expected to increase from 0.35 RMB in 2025 to 0.61 RMB in 2027, reflecting strong growth potential [11].