Zhi Tong Cai Jing·2025-08-26 09:17Core Viewpoint - UBS has raised the target price for CanSino Biologics (06185) to HKD 66.6 and reiterated a "Buy" rating, citing better-than-expected second-quarter performance and significant potential in early pipeline products and licensing opportunities [1] Financial Performance - CanSino's revenue growth accelerated to 38% in Q2, compared to 20% in Q1 [1] - The net loss narrowed to RMB 2 million, with a total net loss of RMB 13 million for the first half, a 94% reduction year-on-year, which was better than UBS's forecast of RMB 31 million loss [1] Earnings Forecast - UBS has adjusted its earnings per share forecasts for 2025 to 2027 from RMB 0.01, 1.16, and 2.39 to RMB 0.24, 1.16, and 2.55 respectively [1] Market Position and Guidance - UBS reaffirms CanSino as a preferred stock in the vaccine sector, anticipating accelerated profit growth [1] - The management has reiterated a full-year revenue guidance of RMB 1 billion [1] Sales Projections - UBS has increased the peak sales forecast for MCV4 from RMB 1.1 billion to RMB 1.3 billion, expecting approval for expanded indications and improved penetration rates [1]