Group 1 - The core viewpoint of the report indicates that 3SBio's revenue for the first half of the year reached 4.356 billion yuan, with a year-on-year increase in net profit attributable to shareholders of 24.6% to 1.358 billion yuan [1] - The adjusted net profit grew by 2.1% year-on-year to 1.136 billion yuan, aligning with market expectations [1] - Due to the positive outcomes from business development leading to revenue recognition, the profit forecasts for 2025 and 2026 have been raised by 186.5% and 138.3%, respectively, to 6.249 billion yuan and 5.664 billion yuan [1] Group 2 - The target price for the company has been increased by 39.9% to 36.5 HKD, reflecting market recognition of the company's innovative product pipeline [1] - The company maintains an "outperform" rating in the industry [1]
研报掘金｜中金：上调三生制药目标价至36.5港元 维持“跑赢行业”评级