联邦制药（03933）今日盘中大跌5.04%，引发市场关注。这一跌势与公司今早发布的2024年全年业绩报告密切相关。
根据公告，联邦制药2024年收入约137.59亿元，与2023年持平。然而，公司多项盈利指标出现下滑：未计利息、税项、折旧及摊销前盈利约39.39亿元，同比下降0.9%；除税前盈利32.89亿元，同比下降1.7%；归属于公司拥有者的溢利26.6亿元，同比下降1.5%。这些数据显示公司盈利能力有所减弱，可能是导致股价下跌的主要原因之一。
值得注意的是，公司制剂产品分部表现欠佳，收入下降5.9%，溢利更是大幅下滑。管理层解释，这主要是由于国家药品集采导致产品价格下调。同时，公司研发费用同比增加26.6%，达5.77亿元，这也对短期盈利造成压力。尽管公司在新药研发和市场布局方面积极推进，但投资者似乎更关注当前的业绩表现，导致股价承压。面对复杂的市场环境，联邦制药能否通过创新和多元化战略扭转局面，仍有待观察。
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