方盛制药：公司信息更新报告：聚焦头痛用药需求，养血祛风止痛颗粒带来新增量-20250610

Investment Rating - The investment rating for Fangsheng Pharmaceutical is "Buy" (maintained) [1] Core Views - The approval of the self-developed innovative traditional Chinese medicine, Yao Xue Qu Feng Zhi Tong Granules, is expected to enhance the performance of the cardiovascular segment, with a positive outlook on its market potential and sales [4] - The company maintains its profit forecast for 2025-2027, expecting net profits of 308 million, 378 million, and 457 million yuan respectively, with corresponding EPS of 0.70, 0.86, and 1.04 yuan [4] Financial Summary - The total market capitalization is 4.808 billion yuan, with a current stock price of 10.95 yuan [1] - Revenue for 2025 is projected at 2.032 billion yuan, with a year-on-year growth of 14.3% [8] - The gross margin is expected to be 71.6% in 2025, with a net margin of 15.1% [8] - The P/E ratio for 2025 is estimated at 15.6 times [8] - The company’s return on equity (ROE) is projected to be 15.5% in 2025 [8]