Hansoh Pharmaceutical (03692.HK) Surges Over 5% on 33.4% YoY Net Profit Jump and Upgraded Ameile Sales Guidance for 2025

According to the Zhicheng Finance APP, Hansoh Pharma (03692) rose over 5% again. As of press time, it increased by 3.81%, trading at HK$24.5, with a turnover of HK$270 million.

On the news front, Hansoh Pharma released its annual performance today, with revenue and net profit for 2024 increasing by 21.3%/33.4% to RMB 12.3 billion/RMB 4.37 billion respectively; full-year dividend payout ratio at 42%. Innovative drug revenue reached RMB 9.5 billion, including approximately RMB 8 billion from product sales, marking a year-on-year growth of 28.5%, contributing about 65% to total revenue. After Almonertinib was included in the medical insurance for first-line NSCLC, it quickly gained market share, with full-year sales increasing by 29% year-on-year.

Morgan Stanley released a research report stating that Hansoh Pharma's performance last year met expectations, but the upward revision of the sales peak guidance for Ameile and this year’s sales guidance came as a surprise. The peak sales forecast for Ameile was further increased from RMB 60 billion to RMB 80 billion, with a sales target of RMB 60 billion set for this year, indicating upside potential in the bank's previous estimates and an acceleration of growth this year. The bank also noted that management expects product sales to achieve double-digit growth this year, with innovative drugs achieving 25% growth. The company is also rapidly diversifying into the chronic disease sector, with high-value drugs expected to be approved starting from 2027.