CICC Maintains 'Outperform Market' Rating for Hansoh Pharmaceutical with Target Price Reduced to HK$14

CICC released a research report stating that it maintainsHansoh Pharma(03692) "Outperform" rating, considering the adjustment of profit forecast, target price reduced by 12.5% to HK$14. The company's revenue in the first half of the year increased by 2% year-on-year to RMB 4.51 billion, and net profit decreased by 0.7% year-on-year to RMB 1.29 billion, slightly lower than the bank's expectations, mainly due to the progress of product commercialization being slightly lower than expected. Due to uncertainties in industry regulation, the bank lowered its net profit forecasts for this year and next year by 7.6% and 8.1%, respectively, to RMB 2.69 billion and RMB 3.09 billion.

Editor: Shi Lijun