2020年三季报点评：疫情影响逐步修复，护肤品业务增加投入促逆势大放异彩

疫情影响逐步修复，护肤品业务增加投入促逆势大放异彩 -50%0%50%100%150%200%华熙生物沪深300% 1M 3M 1Y 2.80 -0.36 - 0.84 3.41 - ··································································································································································································································································· 事件：20Q1~3营收同增23.96%，净利同增5.12% 点评： Q3原料业务略承压、医疗终端业务降幅收窄、护肤品业务继续提速增长：毛利率升、销售费用率升、存货与应收账款周转放缓：盈利预测、估值与评级风险提示：要点 泰康人寿泰康人寿