Core Viewpoint - Bank of America Securities has downgraded the revenue forecasts for Giant Bio (02367) for 2025 to 2027 by 21%, 24%, and 25% respectively, and has also reduced net profit forecasts by 21%, 24%, and 24%. The target price has been lowered from HKD 68.3 to HKD 55.5, but the "Buy" rating is maintained due to expectations that newly approved injectable aesthetic products will drive growth next year [1] Group 1 - Giant Bio's sales during the Double Eleven shopping festival were under pressure, with management reporting a year-on-year sales decline of 20% on Tmall and 50% on Douyin for the Comfy brand [1] - In contrast, the Collgene brand achieved positive growth during the same period [1] - Management has lowered the performance guidance for this year, expecting revenue to be flat or slightly down year-on-year, and has adjusted net profit forecasts to reflect a mid to high single-digit decline [1]
美银证券：降巨子生物(02367)目标价至55.5港元 重申“买入”评级