Hansoh Pharmaceutical Surges Over 5% in Early Trading; Debang Securities Initiates Coverage with 'Buy' Rating

　　Hansoh Pharma(03692) rose 5.26% in early trading, currently at HKD 15.60, with a turnover of HKD 76.7515 million.

Topsperity Securities Co., Ltd. research report pointed out that Hansoh Pharma (3692.HK), since its earliest layout in innovative drugs in 2002, has so far had 7 innovative drugs approved for marketing. The proportion of innovative drugs continues to increase. In the first half of 2023, the revenue from innovative drugs reached 2.786 billion yuan, accounting for 61.8%. It is expected that by 2025, the revenue contribution target of innovative drug products will reach 80%.

The bank noted that the company's proportion of innovative drugs is increasing, the pressure from the centralized procurement of generic drugs is being alleviated, and there have been successful cases of overseas licensing for existing innovative products. The progress of the subsequent innovative pipeline is rapid and promising, with potential for international expansion. This is the first coverage, and a "Buy" rating is given.

Editor: Lu Yujun