Core Viewpoint - Bank of America Securities has raised the target price for Giant Bio (02367) to HKD 79.5, maintaining a "Buy" rating due to the strong visibility of growth in its collagen product restructuring [1][2]. Financial Performance - Giant Bio's revenue for the first half of the year reached RMB 3.113 billion, representing a year-on-year increase of 22.5% [2]. - The company has adjusted its revenue forecast for the Comfy brand upwards based on the strong performance in July [2]. Earnings Forecast - The total revenue forecasts for 2025 to 2027 have been increased by 1.9% each [2]. - Earnings per share forecasts for 2025, 2026, and 2027 have been raised by 2%, 1.7%, and 1.7% respectively [2]. Cost Structure - Due to a decrease in the contribution from live streaming revenue, the sales expense ratio for 2025 has been lowered [2].
美银证券：微升巨子生物(02367)目标价至79.5港元 重申“买入”评级