<p>股東們可能注意到，<strong>石藥集團</strong>（HKG:1093）在上週這個時候發佈了季度業績。初步反應並不積極，過去一週股價下跌了 2.5%，至 7.50 港元。綜合來看，這似乎是一個相當糟糕的結果。儘管收入為 66 億人民幣符合分析師的預測，但法定收益大幅低於預期，未能達到預估，只有每股 0.077 人民幣，低於預期 33%。收益對投資者來説是一個重要的時刻，因為他們可以跟蹤公司的表現，查看分析師對明年的預測，並觀察對公司的情緒是否發生變化。我們認為讀者會發現分析師最新的（法定）收益後預測很有趣。</p>
<p>這項技術可能會取代計算機：發現 20 只正在努力使量子計算成為現實的股票。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/879722-earnings-and-revenue-growth-1-dark-2/1780102596062?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/879722-earnings-and-revenue-growth-1-dark-2/1780102596062"/></p>
<p>SEHK:1093 收益和收入增長 2026 年 5 月 30 日</p>
<p>考慮到最新的業績，來自 20 位分析師對石藥集團的最新共識是，2026 年的收入為 315 億人民幣。如果實現，這將意味着過去 12 個月收入的重大增長，達到 24%。每股收益預計將飆升 154%，達到 0.72 人民幣。在這份報告發布之前，分析師們曾預測 2026 年的收入為 300 億人民幣，每股收益（EPS）為 0.58 人民幣。情緒有明顯的提升，分析師們上調了收入預期，並對每股收益進行了顯著提升。</p>
<p>查看我們對石藥集團的最新分析</p>
<p>儘管有這些上調，分析師們並沒有對其目標價 11.46 港元做出重大改變，這表明更高的預估不太可能對股票的長期價值產生影響。不過，還有另一種看待目標價的方法，那就是查看分析師提出的目標價範圍，因為廣泛的估計範圍可能表明對企業可能結果的不同看法。對石藥集團的看法存在一些差異，最樂觀的分析師將其估值為 19.36 港元，而最悲觀的分析師則為每股 6.00 港元。可以看出，估計範圍很廣，最低估值不到最樂觀估值的一半，這表明分析師對該企業的表現有着強烈的分歧看法。考慮到這一點，我們不應過於依賴共識目標價，因為這只是一個平均值，分析師顯然對該企業有着深刻的分歧看法。</p>
<p>現在從更大的視角來看，我們可以通過將這些預測與過去的表現和行業增長預期進行比較來理解這些預測。這些估計中有一點突出，即石藥集團預計未來的增長速度將快於過去，預計到 2026 年收入將顯示出 33% 的年化增長。如果實現，這將比過去五年的 0.5% 的年均下降要好得多。與分析師對更廣泛行業的估計相比，後者預計（總體上）行業收入將年均增長 11%。不僅石藥集團的收入預計將改善，分析師們似乎也預計其增長速度將快於更廣泛的行業。</p>
<h2>結論</h2>
<p>我們最大的收穫是共識每股收益的上調，這表明對石藥集團明年收益潛力的情緒明顯改善。令人高興的是，他們還上調了收入預期，並預計其增長速度將快於更廣泛的行業。共識目標價保持在 11.46 港元，最新的估計不足以對其目標價產生影響。</p>
<p>考慮到這一點，我們仍然認為企業的長期發展軌跡對投資者來説更為重要。我們有來自多位石藥集團分析師的估計，直到 2028 年，你可以在我們的平台上免費查看。</p>
<p>即便如此，請注意，石藥集團在我們的投資分析中顯示出 <strong>1 個警告信號</strong>，你應該知道...</p>
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石藥集團

廣發中證香港創新藥(QDII-ETF)

華泰柏瑞恆生創新藥ETF(QDII)

<p>石藥集團第一季度的盈利未能達到預期，差距達到 33%，導致股價下跌 2.5%。然而，分析師已上調了 2026 年的預測，預計收入將增長 24%，達到 315 億人民幣，每股收益將激增 154%，達到 0.72 人民幣。儘管這些積極的情緒變化和對比行業更快增長的預期，市場共識目標價仍保持在 11.46 港元，反映出分析師觀點的分歧</p>

<p>Shareholders might have noticed that <strong>CSPC Pharmaceutical Group Limited</strong> (HKG:1093) filed its quarterly result this time last week. The early response was not positive, with shares down 2.5% to HK$7.50 in the past week. It looks like a pretty bad result, all things considered. Although revenues of CN¥6.6b were in line with analyst predictions, statutory earnings fell badly short, missing estimates by 33% to hit CN¥0.077 per share. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.</p>
<div class="lb-trans"><p>股東們可能注意到，<strong>石藥集團</strong>（HKG:1093）在上週這個時候發佈了季度業績。初步反應並不積極，過去一週股價下跌了 2.5%，至 7.50 港元。綜合來看，這似乎是一個相當糟糕的結果。儘管收入為 66 億人民幣符合分析師的預測，但法定收益大幅低於預期，未能達到預估，只有每股 0.077 人民幣，低於預期 33%。收益對投資者來説是一個重要的時刻，因為他們可以跟蹤公司的表現，查看分析師對明年的預測，並觀察對公司的情緒是否發生變化。我們認為讀者會發現分析師最新的（法定）收益後預測很有趣。</p>
</div><p>This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality.</p>
<div class="lb-trans"><p>這項技術可能會取代計算機：發現 20 只正在努力使量子計算成為現實的股票。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/879722-earnings-and-revenue-growth-1-dark-2/1780102596062" alt="" original-src="https://images.simplywall.st/asset/chart/879722-earnings-and-revenue-growth-1-dark-2/1780102596062"/></p>
<p>SEHK:1093 Earnings and Revenue Growth May 30th 2026</p>
<div class="lb-trans"><p>SEHK:1093 收益和收入增長 2026 年 5 月 30 日</p>
</div><p>Taking into account the latest results, the most recent consensus for CSPC Pharmaceutical Group from 20 analysts is for revenues of CN¥31.5b in 2026. If met, it would imply a major 24% increase on its revenue over the past 12 months. Per-share earnings are expected to shoot up 154% to CN¥0.72. In the lead-up to this report, the analysts had been modelling revenues of CN¥30.0b and earnings per share (EPS) of CN¥0.58 in 2026. There's been a pretty noticeable increase in sentiment, with the analysts upgrading revenues and making a considerable lift to earnings per share in particular.</p>
<div class="lb-trans"><p>考慮到最新的業績，來自 20 位分析師對石藥集團的最新共識是，2026 年的收入為 315 億人民幣。如果實現，這將意味着過去 12 個月收入的重大增長，達到 24%。每股收益預計將飆升 154%，達到 0.72 人民幣。在這份報告發布之前，分析師們曾預測 2026 年的收入為 300 億人民幣，每股收益（EPS）為 0.58 人民幣。情緒有明顯的提升，分析師們上調了收入預期，並對每股收益進行了顯著提升。</p>
</div><p>View our latest analysis for CSPC Pharmaceutical Group</p>
<div class="lb-trans"><p>查看我們對石藥集團的最新分析</p>
</div><p>Despite these upgrades,the analysts have not made any major changes to their price target of HK$11.46, suggesting that the higher estimates are not likely to have a long term impact on what the stock is worth. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. There are some variant perceptions on CSPC Pharmaceutical Group, with the most bullish analyst valuing it at HK$19.36 and the most bearish at HK$6.00 per share. As you can see the range of estimates is wide, with the lowest valuation coming in at less than half the most bullish estimate, suggesting there are some strongly diverging views on how analysts think this business will perform. With this in mind, we wouldn't rely too heavily the consensus price target, as it is just an average and analysts clearly have some deeply divergent views on the business.</p>
<div class="lb-trans"><p>儘管有這些上調，分析師們並沒有對其目標價 11.46 港元做出重大改變，這表明更高的預估不太可能對股票的長期價值產生影響。不過，還有另一種看待目標價的方法，那就是查看分析師提出的目標價範圍，因為廣泛的估計範圍可能表明對企業可能結果的不同看法。對石藥集團的看法存在一些差異，最樂觀的分析師將其估值為 19.36 港元，而最悲觀的分析師則為每股 6.00 港元。可以看出，估計範圍很廣，最低估值不到最樂觀估值的一半，這表明分析師對該企業的表現有着強烈的分歧看法。考慮到這一點，我們不應過於依賴共識目標價，因為這只是一個平均值，分析師顯然對該企業有着深刻的分歧看法。</p>
</div><p>Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. One thing stands out from these estimates, which is that CSPC Pharmaceutical Group is forecast to grow faster in the future than it has in the past, with revenues expected to display 33% annualised growth until the end of 2026. If achieved, this would be a much better result than the 0.5% annual decline over the past five years. Compare this against analyst estimates for the broader industry, which suggest that (in aggregate) industry revenues are expected to grow 11% annually. Not only are CSPC Pharmaceutical Group's revenues expected to improve, it seems that the analysts are also expecting it to grow faster than the wider industry.</p>
<div class="lb-trans"><p>現在從更大的視角來看，我們可以通過將這些預測與過去的表現和行業增長預期進行比較來理解這些預測。這些估計中有一點突出，即石藥集團預計未來的增長速度將快於過去，預計到 2026 年收入將顯示出 33% 的年化增長。如果實現，這將比過去五年的 0.5% 的年均下降要好得多。與分析師對更廣泛行業的估計相比，後者預計（總體上）行業收入將年均增長 11%。不僅石藥集團的收入預計將改善，分析師們似乎也預計其增長速度將快於更廣泛的行業。</p>
</div><h2>The Bottom Line</h2>
<div class="lb-trans"><h2>結論</h2>
</div><p>The biggest takeaway for us is the consensus earnings per share upgrade, which suggests a clear improvement in sentiment around CSPC Pharmaceutical Group's earnings potential next year. Happily, they also upgraded their revenue estimates, and are forecasting them to grow faster than the wider industry. The consensus price target held steady at HK$11.46, with the latest estimates not enough to have an impact on their price targets.</p>
<div class="lb-trans"><p>我們最大的收穫是共識每股收益的上調，這表明對石藥集團明年收益潛力的情緒明顯改善。令人高興的是，他們還上調了收入預期，並預計其增長速度將快於更廣泛的行業。共識目標價保持在 11.46 港元，最新的估計不足以對其目標價產生影響。</p>
</div><p>Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have estimates - from multiple CSPC Pharmaceutical Group analysts - going out to 2028, and you can see them free on our platform here.</p>
<div class="lb-trans"><p>考慮到這一點，我們仍然認為企業的長期發展軌跡對投資者來説更為重要。我們有來自多位石藥集團分析師的估計，直到 2028 年，你可以在我們的平台上免費查看。</p>
</div><p>Even so, be aware that CSPC Pharmaceutical Group is showing <strong>1 warning sign in our investment analysis</strong> , you should know about...</p>
<div class="lb-trans"><p>即便如此，請注意，石藥集團在我們的投資分析中顯示出 <strong>1 個警告信號</strong>，你應該知道...</p>
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CSPC Pharmaceutical Group Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

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石藥集團有限公司的收益未達分析師預期：以下是分析師的最新預測