China Post Securities gives Meihua Biotech a buy rating

Mondo Finance Updated on 2024-01-31

Zhang Zeliang of China Post ** Co., Ltd. recently conducted research on Meihua Biotechnology and released a research report "Announcement on the release of the shareholding plan, highlighting the company's confidence in development", this report gives a ** rating to Meihua Bio, and the current stock price is 989 yuan.

Plum Creature (600873).

Event: On January 8, the company announced that the core management plans to increase its holdings of the company's A shares by no less than RMB 80 million (including transaction costs) in the next 6 months, and there is no upper limit.

The core management has increased its holdings in a large amount and promised not to increase its holdings this time, demonstrating its confidence in the company's development. The shareholding increase plan covers the company's core management, including Chairman Wang Aijun (12 million yuan), General Manager He Jun (12 million yuan), Deputy General Manager Liang Yubo (8 million yuan), Chairman of the Board of Supervisors Chang Libin (6 million yuan), Deputy General Manager Wang You (4 million yuan), Chief Financial Officer Wang Lihong (550,000 yuan), Secretary of the Board of Directors Liu Xianfang (300,000 yuan) and other core management, R&D, and technical backbones of 28 people (37.15 million yuan). In addition, the management of the company in this shareholding increase plan has promised in writing to complete the shareholding increase within the shareholding period in accordance with the shareholding increase plan, and will not increase the company's shares during the implementation of the shareholding increase plan and within 5 years after the completion of the shareholding increase, demonstrating confidence in the company's future development.

Capital expenditure is consolidated, and the company is optimistic about growth. According to the company's third quarterly report, the company's construction projects are 15.6 billion yuan, a decrease of 18 compared with the interim report900 million yuan, fixed assets reached 1163 billion yuan, with the successive release of production capacity, the performance center is expected to move up. Based on biological fermentation technology, the company continues to consolidate the leading position of superior products, and continues to expand the product matrix, and the growth space is expected to continue to open.

It is estimated that the company's net profit attributable to the parent company in 23 24 25 years will be 3012/39.35/49.3.6 billion yuan, maintaining the "** rating."

Risk warning: the project construction is less than expected;The risk of intensified market competition;The risk that demand is less than expected.

*According to the calculation of the research report data released in the past three years, the research team of Chai Qinhu of the League of Nations has conducted in-depth research on the stock, and the average accuracy of the past three years is as high as 8942%, and its ** attributable net profit in 2023 is 349.7 billion, and the **PE converted according to the current price is 813。

The latest profit** breakdown is as follows:

A total of 6 institutions have rated the stock in the last 90 days, with 5 ratings ** and 1 overweight ratingsThe average institutional price target over the last 90 days is 1357。

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