Citigroup: CSPC Group (01093)'s mid-term profit forecast far outweighs expectations, reaffirms “buy” rating

The Zhitong Finance App learned that Citi released a research report saying that Shiyao Group (01093) is happy to have net profit of between 5.9 billion yuan and 6.2 billion yuan in the first half of the year, compared with 2.55 billion yuan in the same period last year, which means a year-on-year increase of 131 to 143 percent, which is significantly better than the market forecast of 2.5 billion yuan. The bank believes that the performance of CSPC far exceeded expectations, listed it as one of the preferred stocks in the pharmaceutical sector, and maintained its “buy” rating and target price of HK$11.5.