Gelonghui, Feb. 23 丨 Jeffrey published a report saying that the target price of Chinese Traditional Chinese Medicine (0570.HK) was raised from HK$4.7 to HK$5.5, rated as “buy”. It is expected that the Group's prescription drug (RX) formula will record a recovery in sales because the COVID-19 pandemic has basically passed. Jefferies expects sales, net profit margin, and earnings per share of Chinese Medicines in fiscal year 2023 to be RMB 17 billion, 6.6% and RMB 0.22, respectively; fiscal year 2024 will be RMB 20 billion, 8.5% and RMB 0.34, respectively; while fiscal year 2025 will be 23 billion yuan, 9.4% and 0.43 yuan, which means that the revenue compound annual growth rate for 2023-25 will be 17% and the compound annual profit growth rate will be 39%.
大行评级 | 富瑞：上调中国中药(0570.HK)目标价至5.5港元 评级买入
Big Bank Ratings | Jefferies: Raise the target price of Chinese Traditional Chinese Medicine (0570.HK) to HK$5.5 to buy
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