Core Viewpoint - Goldman Sachs has raised the earnings per share forecast for Innovent Biologics (01801) for 2025 to 2027, with target prices adjusted to HKD 102.85 from HKD 107.96, maintaining a "Buy" rating [1] Group 1: Earnings Forecast - The earnings per share estimates for Innovent Biologics have been increased to HKD 0.62, HKD 1.74, and HKD 2.54 for the years 2025, 2026, and 2027 respectively, up from HKD 0.54, HKD 1.43, and HKD 2.49 [1] - The company is expected to achieve a strong product sales performance in 2025, with a projected year-on-year growth of 45% to reach RMB 11.9 billion, marking a significant milestone of surpassing RMB 10 billion [1] Group 2: Revenue Performance - In the fourth quarter of the previous year, the product revenue was approximately RMB 3.3 billion, aligning with Goldman Sachs' expectations, and reflecting a year-on-year growth of 60% from a relatively low base, while remaining flat quarter-on-quarter [1] - The new product portfolio continues to show growth momentum, with a quarterly increase of 13%, which offsets the weak performance of Tyvyt [1]
高盛：信达生物(01801)去年产品销售强劲 目标价102.85港元