智通财经APP获悉，药师帮(09885)涨超3%，截至发稿，涨2.8%，报12.12港元，成交额3822.78万港元。 消息面上，10月9日，药师帮发布公告，公司首推业务延续强劲增长态势，其中自有品牌业务表现尤为 突出，已成为推动集团业绩提升的关键驱动力。2025年第三季度，厂牌首推业务(包括该集团自有品牌 业务)交易总额约6.584亿元，同比增长163%；该集团自有品牌业务交易总额约4.915亿元，同比增长 334.2%。 ...

来源：格隆汇APP 格隆汇10月9日丨药师帮(09885.HK)公告，厂牌首推业务乃集团"向上走"方案中的一项重要战略，同时 作为高利润业务，因此对提升盈利能力而言举足轻重。公司自其他业务运营所获得的洞察，公司积极寻 求与药企建立深度合作，旨在协助它们将针对下游需求定制的产品推向更广阔的市场，从而将潜在的市 场机遇转化为实实在在的销售业绩。另一方面，依托公司已经构建的品牌影响力和渠道优势，其战略性 推进自有品牌产品的拓展，致力于推出品类丰富且紧密贴合市场需求的高质量自有品牌产品，以满足更 广泛下游用户的多元化需求。截至2025年9月30日止3个月，厂牌首推业务(包括集团自有品牌业务)交易 总额6.58亿元，同比增长163.0%。 ...

药师帮(09885)公布，于2025年第三季度，厂牌首推业务(包括该集团自有品牌业务)交易总额约6.584亿 元，同比增长163%;该集团自有品牌业务交易总额约4.915亿元，同比增长334.2%。 ...

近日连续的资金净流入，也显示出市场信心正得到有力提振。投资者开始重估公司的流动性风险和治理 结构，此前被低估的市值被快速修复。 今年以来，药师帮持续深化供应链能力，扩大终端覆盖网络，技术赋能效果不断显现。药师帮半年报披 露，公司2025年上半年实现营业收入98.43亿元，同比增长11.7%；归母净利润突破7811.7万元，较2024 年同期激增258%，延续自2024年扭亏为盈以来的高增长态势。优秀的经营质效，为价值修复提供了内 在的"压舱石"。 有观点指出，随着股权结构变化这一不确定因素转化为积极因素，市场注意力将更集中于公司的长期叙 事。同时，院外医药数字化的渗透率仍处于提升通道，作为头部企业，药师帮有望持续承接行业红利。 当前，公司估值相较于其成长潜力和行业地位，仍具备吸引力。如未来业绩能持续兑现高增长预期，叠 加市场情绪的进一步回暖，其价值重估的空间依然可观。 近期，药师帮(09885)的市场表现颇为强劲，引发关注。自9月25日以来，公司已连续上涨8个交易日， 截止10月8日收盘，药师帮股价已升至12.4港元，创年内最高价，年内最高涨幅逾142%。有市场分析认 为，此番持续攀升的动能，主要源于前期困扰 ...

叮当健康(09886)盘中飙升近25%，截至发稿，涨23.71%，报1.2港元，成交额1278.01万港元。 消息面上，叮当健康持续加码创新药布局。近日，叮当健康旗下药房新上架抗肿瘤1类创新药盐酸来罗 西利片，已完成首单服务。值得注意的是，叮当健康近期与先声药业达成合作，先声药业抗失眠药达利 雷生在叮当健康O2O首发。此外，公司9月上旬与礼来合作，在广州、深圳药房上架替尔泊肽注射液；7 月与诺和诺德合作，上架体重管理版司美格鲁肽。据悉，自今年2月起，叮当健康与几十家原研药企合 作，推出"原研药保供联盟"。 ...

药师帮(9885.HK)盘中一度大涨近17%，最高触及11.28港元，创逾三个月新高。该股年内已累计涨超 100%。 中信建投首次药师帮，给予"买入"评级，看好下半年盈利能力继续改善、多元业务加速落地。此外，公 司积极推进AI及机器人技术应用，聚焦赋能下游客户及供应链效率优化，后续有望协同放量。 业绩公布后，药师帮获多家投行看好。信达证券研报指出，药师帮已跨越资本投入期进入业绩收获阶 段，预计2024-2027年归母净利润CAGR达164%；对标同业可比公司，其"平台+服务+生态"的商业模式 具备稀缺性，目标估值区间有望达74亿-134亿港元，维持"买入"评级。 消息面上，药师帮此前公布2025年中期业绩，营收98.43亿元，同比增长11.7%；归母净利润突破7811.7 万元，同比激增258%，延续自2024年扭亏为盈以来的高增长态势；在自有品牌高毛利特性驱动下，公 司毛利率同比提升至11.2%。 ...

每经AI快讯，9月30日，港股药师帮(09885.HK)盘中涨超9%，截至发稿，涨9.12%，报10.55港元，成交 额3.2亿港元。 ...

药师帮(09885)盘中涨超9%，截至发稿，涨9.12%，报10.55港元，成交额3.2亿港元。 中信建投发布研报称，药师帮于2020年推出厂牌首推业务，选取市场需求较高的品类，寻找上游工业企 业代理生产，推送给下游品牌意识较弱的基层医疗机构、下沉药店，从而获取超额毛利率，2025年上半 年，公司厂牌首推业务GMV同比增长115.6%为10.8亿元，其中更高毛利率的自有品牌GMV同比增长 473.4%为8.52亿元。该行认为，公司后续仍将稳步推进高毛利率业务占比稳步提升，且公司在收购一块 医药后，自有品牌产品矩阵进一步丰富，后续有望带来额外增量。 中信建投续指，2024年，公司推出三款"未来光谱"系列POCT设备，聚焦基层医疗机构市场，完善基础 疾病检测领域布局，截至2025年6月底，公司已覆盖超过18000家终端机构，投放超过2.3万台，25年下 半年仍将加速投放。公司POCT设备会协同诊所数字化管理系统("光谱云诊"SaaS系统)、AI医生辅助系 统(光谱智医)协同部署，有望共同完善诊所端布局，提升用户粘性。此外，公司积极推进AI及机器人技 术应用，聚焦赋能下游客户及供应链效率优化，后续有望协同放量。 ...

Core Viewpoint - Tianfeng Securities maintains a "buy" rating for Yaoshi Bang (09885) and raises the forecast for net profit attributable to shareholders for 2025-2027 from 1.56/3.73/6.02 billion to 1.79/4.03/6.50 billion, driven by strong performance in platform and self-operated businesses, as well as breakthroughs in proprietary brand business [1] Group 1: Platform Business - In H1 2025, the company's platform business generated revenue of 4.36 billion, reflecting a year-on-year increase of 11.66% [1] - The company enhanced the richness of its platform business products, increasing the average monthly SKU count to approximately 4 million, significantly meeting diverse user needs [1] - The company focused on the core value extraction of traditional Chinese medicine pieces, providing 125,000 SKUs to downstream customers, a year-on-year increase of 22.5% [1] Group 2: Self-Operated Business - In H1 2025, the self-operated business achieved revenue of 93.89 billion, a year-on-year increase of 12.5% [2] - The self-operated business provided an average monthly SKU count of 480,000, an increase of 58,000 SKUs in H1 2025 [2] - The proportion of same-city orders delivered within half a day increased to 70%, while the return rate decreased to 0.4% [2] - The company strengthened the direct supply model from manufacturers, optimizing procurement channels to reduce operational costs [2] Group 3: Proprietary Brand Business - In H1 2025, the transaction scale of the proprietary brand business reached 1.08 billion, a year-on-year increase of 115.6% [3] - The proprietary brand business contributed significantly to the high-quality growth of the self-operated business, with a transaction scale of 852 million, a year-on-year increase of approximately 473.4% [3] - The major product, Le Yaoshi Huoxiang Zhengqi Oral Liquid, achieved substantial breakthroughs in coverage at grassroots medical terminals [3]

Core Viewpoint - Tianfeng Securities maintains a "buy" rating for Yaoshi Bang (09885) and raises the forecast for net profit attributable to shareholders for 2025-2027 from 1.56/3.73/6.02 billion to 1.79/4.03/6.50 billion [1] Group 1: Platform Business - In H1 2025, the company's platform business generated revenue of 436 million, reflecting a year-on-year increase of 11.66% [1] - The company has enhanced the product richness of its platform business, increasing the average monthly SKU count to approximately 4 million, significantly meeting diverse user needs [1] - The company focused on the core value extraction of traditional Chinese medicine pieces, providing 125,000 SKUs to downstream buyers, a year-on-year increase of 22.5% [1] Group 2: Self-operated Business - In H1 2025, the self-operated business achieved revenue of 9.389 billion, a year-on-year increase of 12.5% [2] - The self-operated business provided an average monthly SKU count of 480,000, an increase of 58,000 SKUs [2] - The proportion of same-city orders delivered within half a day increased to 70%, and the return rate decreased to 0.4% [2] - The company strengthened its direct supply model and optimized procurement channels to reduce operational costs [2] Group 3: Proprietary Brand Business - In H1 2025, the transaction scale of the proprietary brand business reached 1.08 billion, a year-on-year increase of 115.6% [3] - The proprietary brand contributed significantly to the high-quality growth of the self-operated business, with a transaction scale of 852 million, a year-on-year increase of approximately 473.4% [3] - The major product, Le Yaoshi Huoxiang Zhengqi Oral Liquid, achieved substantial breakthroughs in coverage at grassroots medical terminals [3]