招银国际：升复宏汉霖目标价至97.75港元 评级“买入”

Core Viewpoint - 招银国际 reports that复宏汉霖 (02696) achieved a 3% year-on-year revenue increase to 2.82 billion RMB in the first half of the year, aligning with expectations [1] Financial Performance - Revenue from drug sales reached 2.57 billion RMB, accounting for 49% of the bank's annual forecast [1] - Net profit increased by 1% year-on-year to 390 million RMB, meeting 31% of the bank's annual forecast [1] Strategic Development - The company is evolving into an innovative biopharmaceutical firm led by HLX43, with ongoing cash inflows from its biosimilars in China and globally [1] Target Price Adjustment - 招银国际 raised its target price for the company from 61.98 HKD to 97.75 HKD, maintaining a "buy" rating [1]