锦波生物(832982)首次覆盖报告：重组胶原蛋白龙头，成长空间广阔-240723-银河证券-14页

产品名称项目20232024E2025E2026E医疗器械类营业收入679.961221.991664.822052.06YOY（%）79.72%36.24%23.26%功能性护肤品营业收入75.9385.5194.41102.02YOY（%）12.61%10.41%8.06%原料业务营业收入24.1831.4437.7243.38YOY（%）30.00%20.00%15.00%其他业务及收入营业收入0.191.561.551.54YOY（%）727.54%-0.64%-0.65%营业收入合计780.261340.501798.502199.00YOY（%）71.80%34.17%22.27%归母净利润合计299.80553.07689.71845.08YOY（%）84.48%24.71%22.53%EPS（元）3.396.257.799.55PE（倍）50.9427.6122.1418.07资料来源：Wind、中国银河证券研究院