{"F": {"ts_code": "HK.01061", "name": "亿胜生物科技", "mkt": "HK", "ccy": "港元", "sw1": "药品", "sw2": "药品", "sw3": "", "ind": "药品", "fin_source": "futu", "market": "主板", "list_date": "20010627", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 2.205, "pe_ttm": 4.691, "pb": 0.488, "dv_ttm": 5.44, "total_mv": 124596.171, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [89.2], "rev_series": [18.1], "np_series": [3.2], "roe_series": [14.0], "rev_ttm": 18.1, "np_ttm": 2.7, "ocf_ttm": 2.8, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 22.7, "gm_median": 89.2, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 17.5, "roe_median": 14.0, "commodity": false, "hard_ratio": 13.8, "fix_assets": 4.5, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 4.2, "debt_ratio": 30.9, "debt_mv": null, "payout": 26.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 8.6, "np_yoy": 3.5, "np_vol": null, "loss_years": 0, "far_share": 0.0, "earn_yield": 21.3, "consensus_n": 0, "fwd_pe": null, "fwd_pe2": null, "fwd_g1": null, "fwd_g2": null, "peg": null, "consensus_disp": null, "mainbz": [], "ret_prev_year": null, "ret_prev2_year": null, "ret_pivot": null, "prev_year": "", "prev2_year": "", "ret_ytd": -39.6, "ret_20": -4.8, "ret_60": -15.8, "ret_120": -43.5, "ret_250": -56.5, "mdd_250": null, "vol_250": null, "pos_52w": 40.0, "eps": 0.563}, "S": {"duration": 11, "pricing": 77, "hard": 22, "bondness": 52}, "label": "轻资产现金牛", "tags": ["股息率≥4%"], "text": {"像什么": ["固定资产占比 14%,毛利率最新年报 89.2%,经营现金流/市值 22.7%:现金机器,久期短。"], "为什么(不)算钱的替代品": "只占定价权一条(毛利率 89.2%),硬资产占比 14%。分子能跟上通胀,但没有重置成本对冲;按'定价权·品牌'看,不按硬资产看。", "加息期怎么走": "久期短、无杠杆,加息期相对安全;放水期跑不过科技。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 22.7%(futu 无资本开支,FCF 按经营现金流 × 0.7 近似)。覆盖高。"], ["能否每年提价而不掉量?", "毛利率最新年报 89.2%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 14%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 4.7 倍 粗算,约 0%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -56%,现价在 52 周高点的 40%;近 20 / 60 / 120 日 -5% / -16% / -44%。", "行业对照": ["同富途行业「药品」55 家中位:PE 15.5 / 股息率 0.8% / 毛利率 63.8% / 固定资产占比 18% / 分红率 29%。", "亿胜生物科技:PE 比行业中位低 10.8倍;股息率 比行业中位高 4.6个百分点;毛利率 比行业中位高 25.4个百分点;固定资产占比 比行业中位低 3.8个百分点。"]}}