Changes in Hong Kong stocks | Yao Ming Kangde (02359) rose nearly 6%, and the company signed new orders, which is ideal for growth, and remains confident in TIDES revenue delivery during the year

The Zhitong Finance App learned that Yao Ming Kangde (02359) rose nearly 6%. As of press release, it had risen 5.84% to HK$157.5, with a turnover of HK$225 million.

According to the news, Daiwa released a research report stating that it raised the target price of Pharmaceutical Kangde from HK$138 to HK$190, maintaining a “buy” rating, and listed it as one of the preferred stocks in the Chinese CXO industry. At the same time, it raised the adjusted non-IFRS net profit forecast for this year and next two years by 13.5% and 21.3%. According to the report, the company's revenue from continuing operations increased by 39.4% year-on-year in the first quarter, and adjusted net profit for non-IFRS increased by 71.7% year-on-year, all exceeding market expectations and company guidelines. It was mainly driven by the contribution of the small-molecule CDMO business, the increase in the number of project deliveries, and the low base effect in the first quarter of 2025.

Yamato said that new orders for the TIDES business increased by about 20% during the period, and management revealed that more projects are expected to be delivered in the next few quarters. Yamato maintained the TIDES revenue growth guideline of 40% for the whole year. Coupled with the ideal growth in new orders, it maintained confidence in TIDES revenue delivery in 2026. It believed that strong performance in the first quarter, continued growth in accumulated orders, and steady performance of new orders all strengthened confidence in the potential increase in the 2026 fiscal year guidance.