<p>巨子生物控股（香港证券交易所代码：2367）通过一项新的股票回购计划重新引起了投资者的关注，同时主要券商的支持性呼声将该股票视为价值机会。</p>
<p>查看我们对巨子生物控股的最新分析。</p>
<p>此次回购和乐观的券商覆盖是在经历了一段艰难时期后出现的，过去 90 天的股价回报为负 44.37%，一年总股东回报为负 30.48%。这表明，当前 HK$35.1 的水平，动能可能正在稳定，而不是崩溃。</p>
<p>如果这种复苏故事引起了你的关注，可以考虑将巨子生物与其他可能提供类似或更强上涨潜力的医疗保健股票进行比较。</p>
<p>随着收入和盈利仍以两位数的速度增长，而股价远低于分析师目标，巨子生物现在是被低估的价值，还是市场已经在折扣其未来增长潜力？</p>
<h2>15.1 倍的市盈率：是否合理？</h2>
<p>从表面上看，巨子生物显得便宜，当前股价为 HK$35.1，意味着市盈率为 15.1 倍，相较于同行和更广泛的亚洲个人护理产品领域被视为被低估。</p>
<p>市盈率比较了投资者今天为每单位当前盈利支付的价格，这对于像巨子生物这样盈利且快速增长的消费医疗保健企业尤为相关。当这个倍数在强劲的利润增长下仍然较低时，通常表明市场对这种增长能持续多久持怀疑态度，或者尚未完全认识到公司的盈利能力。</p>
<p>在巨子生物的案例中，市场的谨慎显得尤为明显。该股的市盈率为 15.1 倍，而更广泛的亚洲个人护理产品行业为 23.6 倍，最接近的同行组为 21.4 倍，尽管该公司提供的盈利增长高于行业，并预计将继续超越香港市场。与公司估计的合理市盈率 23.7 倍相比，这一折扣表明，如果投资者对其增长轨迹更加自信，倍数有显著扩展的空间。</p>
<p>探索巨子生物控股的 SWS 合理比率</p>
<p><strong>结果：15.1 倍的市盈率（被低估）</strong></p>
<p>然而，围绕中国消费者需求和护肤品潜在价格压力的持续担忧可能会限制估值上行空间，如果增长预期过于乐观。</p>
<p>了解巨子生物控股叙述的关键风险。</p>
<h2>另一种观点：我们的 DCF 模型如何看待？</h2>
<p>虽然盈利倍数将巨子生物标记为便宜，但我们的 DCF 模型进一步表明，该股交易价格约为合理价值估计的 45% 以下，合理价值约为 HK$64。这表明价格与现金流潜力之间存在更深的脱节。然而，值得考虑的是，增长假设是否过于慷慨。</p>
<p>了解 SWS DCF 模型如何得出其合理价值。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/6553fa54-fe12-48d3-ad44-4efb3ec7ce4a/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1706" height="760" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/6553fa54-fe12-48d3-ad44-4efb3ec7ce4a/chart/dcf"/></p>
<p>截至 2025 年 12 月的 2367 折现现金流</p>
<p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看巨子生物控股）。我们展示了完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 908 只基于现金流的被低估股票。如果您保存筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
<h2>构建您自己的巨子生物控股叙述</h2>
<p>如果您更愿意挑战这些假设并对数字进行自己的解读，您可以在几分钟内构建个性化视图：按您的方式进行。</p>
<p>一个好的起点是我们的分析，强调投资者对巨子生物控股的 4 个关键回报的乐观预期。</p>
<h2>准备好更多聪明的投资想法了吗？</h2>
<p>在市场未动之前，使用 Simply Wall St 筛选器发现与您的策略匹配的集中机会，提升您的投资组合决策。</p>
<ul>
<li>通过筛选交易价格低于其估计现金流价值的公司，捕捉潜在的错误定价，这些 908 只基于现金流的被低估股票。</li>
<li>通过扫描这 27 只量子计算股票，站在创新的前沿，寻找下一代机会。</li>
<li>通过这 13 只股息收益率超过 3% 的可靠派息机会，增强您的收入来源。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们仅基于历史数据和分析师预测提供评论，采用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成购买或出售任何股票的推荐，也不考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
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<p>下一波机器人技术不是类人型的。它是完全自主的塔，在 30 分钟内提供 5G、ISR 和雷达，覆盖任何地方。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

巨子生物

<p>巨子生物控股（香港证券交易所代码：2367）因其新的股票回购计划和积极的券商评级而受到关注，尽管近期回报表现不佳。该股票被认为被低估，市盈率为 15.1 倍，低于行业平均水平。分析师建议存在价格增长的潜力，但对中国的消费需求和护肤品价格压力表示谨慎。现金流折现模型显示，股票价格低于公允价值 45%，突显出价格与现金流潜力之间的脱节。投资者被鼓励利用 Simply Wall St 的工具进一步探索机会</p>

<p>Giant Biogene Holding (SEHK:2367) has put itself back on investors radar with a fresh share repurchase plan, paired with supportive calls from major brokerages that frame the stock as a value opportunity.</p>
<div class="lb-trans"><p>巨子生物控股（香港证券交易所代码：2367）通过一项新的股票回购计划重新引起了投资者的关注，同时主要券商的支持性呼声将该股票视为价值机会。</p>
</div><p>See our latest analysis for Giant Biogene Holding.</p>
<div class="lb-trans"><p>查看我们对巨子生物控股的最新分析。</p>
</div><p>The buyback and upbeat broker coverage arrive after a tough stretch, with a 90 day share price return of negative 44.37 percent and a one year total shareholder return of negative 30.48 percent. This suggests momentum may be stabilising rather than collapsing at the current HK$35.1 level.</p>
<div class="lb-trans"><p>此次回购和乐观的券商覆盖是在经历了一段艰难时期后出现的，过去 90 天的股价回报为负 44.37%，一年总股东回报为负 30.48%。这表明，当前 HK$35.1 的水平，动能可能正在稳定，而不是崩溃。</p>
</div><p>If this kind of recovery story has your attention, it could be worth comparing Giant Biogene with other healthcare stocks that might offer similar or stronger upside potential.</p>
<div class="lb-trans"><p>如果这种复苏故事引起了你的关注，可以考虑将巨子生物与其他可能提供类似或更强上涨潜力的医疗保健股票进行比较。</p>
</div><p>With revenue and earnings still growing at double digit rates and the share price trading well below analyst targets, is Giant Biogene now a mispriced value, or is the market already discounting its future growth potential?</p>
<div class="lb-trans"><p>随着收入和盈利仍以两位数的速度增长，而股价远低于分析师目标，巨子生物现在是被低估的价值，还是市场已经在折扣其未来增长潜力？</p>
</div><h2>Price-to-Earnings of 15.1x: Is it justified?</h2>
<div class="lb-trans"><h2>15.1 倍的市盈率：是否合理？</h2>
</div><p>On a headline basis, Giant Biogene looks inexpensive, with its current share price of HK$35.1 implying a price to earnings ratio of 15.1 times that screens as undervalued against both peers and the wider Asian personal products space.</p>
<div class="lb-trans"><p>从表面上看，巨子生物显得便宜，当前股价为 HK$35.1，意味着市盈率为 15.1 倍，相较于同行和更广泛的亚洲个人护理产品领域被视为被低估。</p>
</div><p>The price to earnings multiple compares what investors are paying today for each unit of current earnings, which is particularly relevant for a profitable and fast growing consumer healthcare business like Giant Biogene. When this multiple is low despite robust profit growth, it often signals that the market is either skeptical of how long that growth can last or has not yet fully recognised the company’s earnings power.</p>
<div class="lb-trans"><p>市盈率比较了投资者今天为每单位当前盈利支付的价格，这对于像巨子生物这样盈利且快速增长的消费医疗保健企业尤为相关。当这个倍数在强劲的利润增长下仍然较低时，通常表明市场对这种增长能持续多久持怀疑态度，或者尚未完全认识到公司的盈利能力。</p>
</div><p>In Giant Biogene’s case, the market’s caution looks stark. The shares trade at 15.1 times earnings compared with 23.6 times for the broader Asian personal products industry and 21.4 times for its closest peer group, even though the company has delivered higher earnings growth than the sector and is expected to keep outpacing the Hong Kong market. Against an estimated fair price to earnings ratio of 23.7 times for the company, this discount suggests meaningful scope for the multiple to expand if investors become more confident in its growth trajectory.</p>
<div class="lb-trans"><p>在巨子生物的案例中，市场的谨慎显得尤为明显。该股的市盈率为 15.1 倍，而更广泛的亚洲个人护理产品行业为 23.6 倍，最接近的同行组为 21.4 倍，尽管该公司提供的盈利增长高于行业，并预计将继续超越香港市场。与公司估计的合理市盈率 23.7 倍相比，这一折扣表明，如果投资者对其增长轨迹更加自信，倍数有显著扩展的空间。</p>
</div><p>Explore the SWS fair ratio for Giant Biogene Holding</p>
<div class="lb-trans"><p>探索巨子生物控股的 SWS 合理比率</p>
</div><p><strong>Result: Price-to-Earnings of 15.1x (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：15.1 倍的市盈率（被低估）</strong></p>
</div><p>However, lingering concerns around China’s consumer demand and potential pricing pressure in skincare could cap valuation upside if growth expectations prove overly optimistic.</p>
<div class="lb-trans"><p>然而，围绕中国消费者需求和护肤品潜在价格压力的持续担忧可能会限制估值上行空间，如果增长预期过于乐观。</p>
</div><p>Find out about the key risks to this Giant Biogene Holding narrative.</p>
<div class="lb-trans"><p>了解巨子生物控股叙述的关键风险。</p>
</div><h2>Another View: What Does Our DCF Say?</h2>
<div class="lb-trans"><h2>另一种观点：我们的 DCF 模型如何看待？</h2>
</div><p>While earnings multiples flag Giant Biogene as cheap, our DCF model goes further and suggests the shares trade around 45% below a fair value estimate of roughly HK$64. That points to a deeper disconnect between price and cash flow potential. However, it is worth considering whether the growth assumptions are too generous.</p>
<div class="lb-trans"><p>虽然盈利倍数将巨子生物标记为便宜，但我们的 DCF 模型进一步表明，该股交易价格约为合理价值估计的 45% 以下，合理价值约为 HK$64。这表明价格与现金流潜力之间存在更深的脱节。然而，值得考虑的是，增长假设是否过于慷慨。</p>
</div><p>Look into how the SWS DCF model arrives at its fair value.</p>
<div class="lb-trans"><p>了解 SWS DCF 模型如何得出其合理价值。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/6553fa54-fe12-48d3-ad44-4efb3ec7ce4a/chart/dcf" alt="" original-src="https://images.simplywall.st/company/6553fa54-fe12-48d3-ad44-4efb3ec7ce4a/chart/dcf"/></p>
<p>2367 Discounted Cash Flow as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 2367 折现现金流</p>
</div><p>Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Giant Biogene Holding for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 908 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.</p>
<div class="lb-trans"><p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看巨子生物控股）。我们展示了完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 908 只基于现金流的被低估股票。如果您保存筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
</div><h2>Build Your Own Giant Biogene Holding Narrative</h2>
<div class="lb-trans"><h2>构建您自己的巨子生物控股叙述</h2>
</div><p>If you would rather challenge these assumptions and put your own spin on the numbers, you can build a personalised view in just minutes: Do it your way.</p>
<div class="lb-trans"><p>如果您更愿意挑战这些假设并对数字进行自己的解读，您可以在几分钟内构建个性化视图：按您的方式进行。</p>
</div><p>A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding Giant Biogene Holding.</p>
<div class="lb-trans"><p>一个好的起点是我们的分析，强调投资者对巨子生物控股的 4 个关键回报的乐观预期。</p>
</div><h2>Ready for more smart investing ideas?</h2>
<div class="lb-trans"><h2>准备好更多聪明的投资想法了吗？</h2>
</div><p>Before the market moves without you, use the Simply Wall St Screener to uncover focused opportunities that match your strategy and sharpen your portfolio decisions.</p>
<div class="lb-trans"><p>在市场未动之前，使用 Simply Wall St 筛选器发现与您的策略匹配的集中机会，提升您的投资组合决策。</p>
</div><ul>
<li>Capture potential mispricings by screening for companies trading below their estimated cash flow value with these 908 undervalued stocks based on cash flows.</li>
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</ul>
<div class="lb-trans"><ul>
<li>通过筛选交易价格低于其估计现金流价值的公司，捕捉潜在的错误定价，这些 908 只基于现金流的被低估股票。</li>
<li>通过扫描这 27 只量子计算股票，站在创新的前沿，寻找下一代机会。</li>
<li>通过这 13 只股息收益率超过 3% 的可靠派息机会，增强您的收入来源。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们仅基于历史数据和分析师预测提供评论，采用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成购买或出售任何股票的推荐，也不考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
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<div class="lb-trans"><p>移动基础设施用于国防和灾难</p>
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<div class="lb-trans"><p>下一波机器人技术不是类人型的。它是完全自主的塔，在 30 分钟内提供 5G、ISR 和雷达，覆盖任何地方。</p>
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<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
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<div class="lb-trans"><p>由 CiTech 赞助</p>
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巨子生物控股（SEHK:2367）：在新的回购计划和经纪公司新的买入评级后进行估值检查