研报掘金丨财信证券：首予云南白药“增持”评级，加快培育第二增长曲线

格隆汇07-28

财信证券研报指出，云南白药核心业务稳健发展，加快培育第二增长曲线。公司品牌力深厚、获奖无数。多年来公司经营业绩文件增长，2000-2025年营收复合增长率达17.11%，归母净利润复合年增长率达20.47%。云南白药作为中药行业龙头，核心业务基本盘稳固，工业板块增长动能强劲，同时具备持续高比例分红能力。在新战略指引下，公司通过内涵式增长与外延式扩张并举，持续夯实药品、健康品等核心业务的同时加快培育...

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