未来光谱系列POCT设备

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港股异动 | 药师帮(09885)盘中涨超9% 公司高毛利业务加速增长 POCT设备下半年仍将加速投放
智通财经网· 2025-09-30 02:28
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。 ...
药师帮盘中涨超9% 公司高毛利业务加速增长 POCT设备下半年仍将加速投放
Zhi Tong Cai Jing· 2025-09-30 02:16
中信建投(601066)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。 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 ...
药师帮上半年业绩高增长,净利达上年同期3倍以上
Zhi Tong Cai Jing· 2025-08-20 10:46
Core Insights - The company achieved a revenue of 9.843 billion yuan in the first half of 2025, representing a year-on-year growth of 11.7% [1] - The gross profit margin improved from 10% to 11.2%, and the net profit attributable to shareholders reached 78.11 million yuan, increasing over threefold [1] - Operating cash flow remained positive at 257 million yuan, with cash and cash equivalents totaling 3.551 billion yuan [1] Group 1: Business Performance - The company maintained a leading position in the domestic out-of-hospital pharmaceutical trading service market, with an average monthly active buyer count of 453,000, up 6.5% year-on-year [2] - The monthly buyer payment rate was 94%, with each paying buyer placing an average of 29.2 orders per month, while the platform subsidy rate decreased to 0.5% [2] - The dual-driven model of "platform + self-operated" generated a revenue of 9.843 billion yuan, with platform revenue at 436 million yuan and self-operated business revenue at 9.389 billion yuan, marking a 12% increase [2] Group 2: Financial Health - The company demonstrated strong cash flow efficiency, with accounts payable turnover days at approximately 67.7 days, inventory turnover at 32.2 days, and accounts receivable turnover days at about 1.8 days [2] - The cash conversion cycle was approximately -33.8 days, indicating superior supply chain management and cash turnover efficiency [2] - The capital-to-debt ratio stood at 4.3%, showcasing a robust liquidity position that supports business expansion [2] Group 3: Strategic Initiatives - The company is focusing on three strategic areas: expanding self-owned brands, enhancing supply chain efficiency, and developing grassroots medical layouts [3] - The self-owned brand business achieved a transaction scale of 852 million yuan, growing approximately 473.4% year-on-year, with significant contributions from key products [3] - The average monthly available SKUs reached 4 million, and the proportion of same-day delivery orders increased from 67.7% to 70% [3] Group 4: Market Outlook - The domestic pharmaceutical retail industry is undergoing significant adjustments, presenting structural opportunities amid challenges [4] - The company is strategically addressing industry pain points by focusing on digital supply chain transformation and optimizing profit structures through high-margin products [4] - Forecasts suggest that the company's net profit attributable to shareholders will reach 149 million yuan in 2025, with a growth rate of 395%, and further growth of 116% to 320 million yuan in 2026 [4]
药师帮(09885)上半年业绩高增长,净利达上年同期3倍以上
智通财经网· 2025-08-20 10:40
Core Viewpoint - The company, Yaoshi Bang, demonstrated strong financial performance in the first half of 2025, achieving significant revenue growth and profitability despite a challenging pharmaceutical market environment [1][2]. Financial Performance - In the first half of 2025, the company reported revenue of 9.843 billion yuan, a year-on-year increase of 11.7% [1] - Gross profit margin improved from 10% to 11.2% [1] - Net profit attributable to shareholders reached 78.11 million yuan, representing over a threefold increase year-on-year [1] - Operating cash flow remained positive at 257 million yuan, with cash and cash equivalents totaling 3.551 billion yuan [1] Business Model and Growth Drivers - The company operates as the largest pharmaceutical trading service platform in the outpatient market in China, maintaining a leading user coverage and deepening user engagement [1] - Monthly active buyers reached 453,000, a 6.5% increase year-on-year, with a buyer payment rate of 94% and an average order quantity of 29.2 per paying buyer [1] - The dual-driven model of "platform + self-operated" generated revenue of 9.843 billion yuan, with platform revenue at 436 million yuan and self-operated business revenue at 9.389 billion yuan, reflecting a 12% increase [1][2] Supply Chain and Operational Efficiency - The company reported a payable turnover period of approximately 67.7 days and an inventory turnover of 32.2 days, indicating strong supply chain efficiency [2] - The cash conversion cycle was approximately -33.8 days, showcasing superior cash turnover efficiency compared to industry standards [2] - The self-owned brand business achieved a transaction scale of 852 million yuan, a year-on-year increase of approximately 473.4% [2] Strategic Initiatives - The company is focusing on three strategic areas: expanding self-owned brands, enhancing supply chain efficiency, and developing grassroots medical services [2][3] - The integration of various technologies, including POCT and AI systems, is aimed at empowering grassroots medical institutions [3] - The monthly average available SKUs reached 4 million, with same-day delivery orders increasing from 67.7% to 70% [3] Market Outlook - Despite the ongoing challenges in the domestic pharmaceutical retail industry, structural opportunities are emerging due to market consolidation [4] - The company is strategically addressing industry pain points by enhancing digital supply chain capabilities and optimizing profit structures through high-margin products [4] - Forecasts suggest that the company's net profit attributable to shareholders will reach 149 million yuan in 2025, with a projected growth of 395% year-on-year [4]