Core Viewpoint - 信达生物's mid-term performance exceeded expectations, with a 50.6% increase in revenue to approximately 6 billion RMB, significantly surpassing market forecasts [1] - The adjusted net profit for the first half reached 1.21 billion RMB, already exceeding the bank's and market's full-year adjusted profit predictions [1] - The company is implementing a dual-engine growth strategy focusing on oncology treatment and general biomedicine, aiming to develop leading pipeline products for the global market [1] Revenue and Profit Forecast - The bank has raised its revenue forecast for the company this year to a year-on-year increase of 34.8% [1] - Adjustments have been made to the profit forecasts for 2025 to 2027, reflecting stronger-than-expected growth potential [1] Target Price and Rating - The target price for 信达生物 has been increased from 110 HKD to 120 HKD [1] - The rating for the company remains "Buy" [1]
大华继显：升信达生物目标价至120港元 中绩胜预期 维持“买入”评级