港股异动 | 石药集团(01093)涨超3% 机构看好公司未来在EGFR ADC及研发平台将有更多对外授权合作机会

Core Viewpoint - The stock price of CSPC Pharmaceutical Group (01093) has increased by approximately 9% year-to-date, with a notable rise of 14% prior to the announcement of its collaboration with AstraZeneca on January 30. HSBC Research maintains that the company's valuation remains attractive and anticipates more licensing opportunities in the future related to EGFR ADC and its R&D platform [1][1][1] Group 1 - HSBC has raised its revenue forecasts for CSPC Pharmaceutical Group for 2025 to 2027 by 3% to 11%, considering prepayments and slight improvements in last quarter sales [1][1][1] - The net profit forecasts for the same period have been increased by 7% to 18%, indicating that growth in licensing revenue can offset the negative impacts of centralized procurement policies for pharmaceuticals [1][1][1] Group 2 - Citi expects that the business development (BD) transactions already completed by CSPC will start converting into recurring revenue from this year [1][1][1] - The four significant BD transactions with AstraZeneca and Madrigal Pharmaceuticals are projected to generate approximately $10.2 billion in upfront and milestone payments, significantly boosting profits to 6.3 billion, 10.2 billion, and 10.9 billion RMB for 2025 to 2027 [1][1][1]