Damo: Cinda Biotech (01801) raised its product revenue target price strongly to HK$138.5 in the first half of the year

The Zhitong Finance App learned that Morgan Stanley released a research report stating that Cinda Biotech (01801)'s product revenue for the first half of the year was RMB 8.2 billion, raising the product revenue/total revenue forecast by 6%/5%/2% from 2026 to 2028, which mainly reflects the strong performance of core products such as GLP-1, PCSK9 and partner products. The corresponding change in earnings per share forecast during the period was +13.7%/+11.2%/-1.2%. The target price was raised from HK$135 to HK$138.5, with an “increase in weight” rating.

According to the report, the Group's first-quarter product revenue exceeded 3.8 billion yuan, an increase of more than 50% over the previous year, benefiting from the expansion of the national health insurance catalogue and sales of products such as Mastopeptide, Cempira and TKI. IBI363/IBI343, in collaboration with Takeda Pharmaceuticals, transforms Chinese innovation into preserving global economic interests. The data released by IBI363 at the American Society of Clinical Oncology's annual meeting strengthens its potential for second-line non-small cell lung cancer and early first-line treatment. A strategic shift in profitability is expected, with cash flow generation supporting longer term asset holdings, stronger terms of cooperation, and repeatable global proof of concept.