巨子生物：2025业绩符合预期，预期2026年收入重回增长但利润仍然承压-20260323

研究报告 Research Report 22 Mar 2026 巨子生物 Giant Biogene (2367 HK) 2025 业绩符合预期，预期 2026 年收入重回增长但利润仍然承压 2025 Results In Line with Expectations; Revenue Expected to Return to Growth in 2026 While Profitability Remains Under Pressure [Table_yemei 观点聚焦 1] Investment Focus [Table_Info] 维持优于大市 Maintain OUTPERFORM 评级 优于大市 OUTPERFORM 现价 HK$30.70 目标价 HK$36.20 HTI ESG 3.1-3.9-4.0 E-S-G: 0-5, (Please refer to the Appendix for ESG comments) 市值 HK$32.88bn / US$4.20bn 日交易额 (3 个月均值) US$22.81mn 发行股票数目 1,071mn 自由流通股 (%) 45% 1 年股价 ...