Group 1 - The core viewpoint of the report is that Cinda Biologics (01801) has seen significant upward revisions in sales and net profit forecasts for this year, next year, and 2027, indicating strong growth potential [1] - Sales for the first half of the year increased by 50.6% year-on-year, and the company turned a profit with a net income of 834 million RMB, exceeding expectations [1] - The target price for Cinda Biologics has been raised from 108.4 HKD to 111.4 HKD, maintaining a rating of "outperform" [1] Group 2 - The approval of GLP-1 dual agonists and the upcoming launch of IL-23 are expected to further drive profitability growth for the company [1] - The highly anticipated PD-1/IL-2 drug IBI363 is ready for a global MRCT trial targeting I/O recurrent squamous non-small cell lung cancer [1] - The CLDN18.2 ADC is also undergoing a second MRCT trial for pancreatic cancer, indicating ongoing innovation and development in the company's pipeline [1]
里昂：升信达生物目标价至111.4港元 中绩胜预期