智通财经网·2025-09-09 06:49Core Viewpoint - Fosun Pharma (02196) shows a significant improvement in profitability, with its innovative drug pipeline being undervalued by the market, leading to an upgrade in ratings by Morgan Stanley to "overweight" for both A-shares and H-shares [1] Financial Performance - In the first half of this year, Fosun Pharma achieved revenue of approximately 19.514 billion yuan, with innovative drug revenue growing steadily to over 4.3 billion yuan, a year-on-year increase of 14.26% [1] - The net profit attributable to shareholders was around 1.702 billion yuan, reflecting a year-on-year growth of 38.96% [1] Market Outlook - Morgan Stanley raised the target price for Fosun Pharma's A-shares to 42 yuan and H-shares to 33 Hong Kong dollars, indicating significant upside potential compared to current stock prices [1] - The financial optimization expected from the divestiture of non-core assets in the first half of 2025 is anticipated to further enhance the company's financial position [1] Research and Development - Fosun Pharma has established three major mature R&D entities focusing on antibody, ADC, small molecule, and cell therapy technologies, targeting core treatment areas such as solid tumors, hematological tumors, and immune inflammation [1] - The company is actively expanding into chronic disease areas, including cardiovascular, renal, metabolic, and neurological fields [1]