招银国际：升复宏汉霖(02696)目标价至97.75港元 评级“买入”

Core Viewpoint - 招银国际 has raised the target price for复宏汉霖 (02696) to HKD 97.75, maintaining a "Buy" rating, reflecting confidence in the company's growth potential in the biopharmaceutical sector [1] Financial Performance - 复宏汉霖 reported a 3% year-on-year increase in revenue to RMB 2.82 billion, aligning with expectations [1] - Drug sales reached RMB 2.57 billion, accounting for 49% of the annual forecast by 招银国际 [1] - Net profit increased by 1% year-on-year to RMB 390 million, meeting 31% of the 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]