Citi Maintains 'Buy' Rating on Hansoh Pharmaceutical with Target Price Raised to HK$28

Citi released a research report, maintaining the "Buy" rating for Hansoh Pharma (03692). The bank raised its revenue forecasts for this year and next year by 8.6% and 2.7%, respectively, while increasing its earnings per share forecasts by 29.5% and 15.4%. The target price was also raised from HKD 25 to HKD 28. The report stated that the company's revenue last year increased by 7.7% year-on-year to RMB 10.1 billion, with net profit rising by 26.9% year-on-year to RMB 3.3 billion. Management expects that the contribution of innovative drug revenue will increase to 70% this year, with the goal of achieving double-digit sales growth.

Editor: Shi Lijun