翰森制药（03692）：首次覆盖：中国龙头创新药企，国际化能力持续提升

研究报告 Research Report 15 Jun 2025 翰森制药 Hansoh Pharma (3692 HK) 首次覆盖：中国龙头创新药企，国际化能力持续提升 Leading Innovative Pharma in China Enhances International Competitiveness Continuously : Initiation [Table_yemei1] 观点聚焦 Investment Focus [Table_Info] 首次覆盖优于大市 Initiate with OUTPERFORM 评级 优于大市 OUTPERFORM 现价 HK$29.40 目标价 HK$33.90 HTI ESG 4.5-4.5-5.0 E-S-G: 0-5, (Please refer to the Appendix for ESG comments) 市值 HK$174.85bn / US$22.28bn 日交易额 (3 个月均值) US$38.60mn 发行股票数目 5,947mn 自由流通股 (%) 19% 1 年股价最高最低值 HK$29.90-HK$15.82 注：现价 HK ...