\u003c/p>\u003cp>智通財經APP獲悉,瑞銀發布研報稱,將巨子生物(02367)評級由“買入”降至“中性”,主要因短期收入及利潤前景的不確定性增加。同時,將2025至27年盈利預測下調25%至41%,期內收入預測降介乎20%至36%,目標價由79.5港元大削至39.5港元。\u003c/p>\u003cp>報告指,現時市場競爭加劇,出現其他定價更具吸引力且同樣以重組膠原蛋白為核心成分的護膚品牌或產品。雖然公司產品創新快速,但明年新產品是否能成功仍存在不確定性。另外,在競爭加劇及營銷效率減弱的環境下,要維持高盈利能力或具挑戰。在營銷效率減弱及經營去杠桿下,瑞銀料巨子生物凈利潤率面對2至3個百分點的蠶食。\u003c/p>","type":"text"}],"currentPage":0,"pageSize":1},"editorName":"葛瑤","editorCode":"PF216","faceUrl":"http://ishare.ifeng.com/mediaShare/home/8516/media","vestAccountDetail":{},"subscribe":{"type":"vampire","cateSource":"","isShowSign":0,"parentid":"0","parentname":"財經","cateid":"8516","catename":"智通財經APP","logo":"https://d.ifengimg.com/q100/img1.ugc.ifeng.com/newugc/20210201/13/wemedia/511f851ce203c0a061e2169b8968ae85aa8a7344_size41_w476_h476.jpg","description":"每天推送最具價值的港股、美股、A股投資資訊!","api":"http://api.3g.ifeng.com/api_wemedia_list?cid=8516","show_link":0,"share_url":"https://share.iclient.ifeng.com/share_zmt_home?tag=home&cid=8516","eAccountId":8516,"status":1,"honorName":"","honorImg":"","honorImg_night":"","forbidFollow":0,"forbidJump":0,"fhtId":"70303323","view":1,"sourceFrom":"","declare":"","originalName":"","redirectTab":"article","authorUrl":"https://ishare.ifeng.com/mediaShare/home/8516/media","newsTime":"2025-12-11 11:10:49","lastArticleAddress":"來自北京"},"filterMediaList":[{"name":"鳳凰網財經","id":"607286"},{"name":"國際財聞匯","id":"1609082"},{"name":"銀行財眼","id":"1444240"},{"name":"公司研究院","id":"1612328"},{"name":"IPO觀察哨","id":"1601888"},{"name":"風暴眼","id":"1601889"},{"name":"出海研究局","id":"1613468"},{"name":"封面","id":"540061"},{"name":"前行者","id":"1580509"},{"name":"凰家反騙局","id":"1596037"},{"name":"康主編","id":"1535116"},{"name":"啟陽路4號","id":"1021158"},{"name":"財經連環話","id":"7518"}]},"keywords":"港元,瑞銀,不確定性,目標價,巨子,膠原蛋白,中性,護膚品牌","safeLevel":0,"isCloseAlgRec":false,"interact":{"isCloseShare":false,"isCloseLike":false,"isOpenCandle":false,"isOpenpray":false,"isCloseFhhCopyright":false},"hasCopyRight":true,"sourceReason":"","__nd__":"ne883dbn.ifeng.com","__cd__":"c01049em.ifeng.com"};
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for (var i = 0,len = adKeys.length; i 智通財經APP獲悉,瑞銀發布研報稱,將巨子生物(02367)評級由“買入”降至“中性”,主要因短期收入及利潤前景的不確定性增加。同時,將2025至27年盈利預測下調25%至41%,期內收入預測降介乎20%至36%,目標價由79.5港元大削至39.5港元。 報告指,現時市場競爭加劇,出現其他定價更具吸引力且同樣以重組膠原蛋白為核心成分的護膚品牌或產品。雖然公司產品創新快速,但明年新產品是否能成功仍存在不確定性。另外,在競爭加劇及營銷效率減弱的環境下,要維持高盈利能力或具挑戰。在營銷效率減弱及經營去杠桿下,瑞銀料巨子生物凈利潤率面對2至3個百分點的蠶食。 “特別聲明:以上作品內容(包括在內的視頻、圖片或音頻)為鳳凰網旗下自媒體平臺“大風號”用戶上傳并發布,本平臺僅提供信息存儲空間服務。 Notice: The content above (including the videos, pictures and audios if any) is uploaded and posted by the user of Dafeng Hao, which is a social media platform and merely provides information storage space services.”
瑞銀:降巨子生物(02367)評級至“中性” 削目標價至39.5港元


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