Investment Rating - The report maintains a "Buy" rating for the company with a target price of 78.01 HKD per share, indicating an expected return of over 20% within the next six months [4]. Core Insights - The company has approved a stock option plan and a restricted share unit plan, which will be subject to shareholder approval. A total of 6.985 million stock options and restricted share units have been conditionally granted to 279 participants, including 75,000 each to the CEO [1][2]. - The HLX43 PD-L1 ADC has completed dosing in an international Phase II clinical trial, marking it as the first PD-L1 ADC to enter this stage globally. Initial Phase I data showed promising safety and efficacy results in patients with advanced non-small cell lung cancer [3]. Financial Projections - The company is projected to achieve total revenues of 5.873 billion, 5.970 billion, and 7.125 billion HKD for the years 2025, 2026, and 2027, representing year-on-year growth rates of 2.60%, 1.64%, and 19.36% respectively. Net profits attributable to shareholders are expected to be 827 million, 797 million, and 1.122 billion HKD for the same years [4].
复宏汉霖（02696）：批准股权激励计划，HLX43国际Ⅱ期临床完成给药