信达生物（01801）：稳步推进五年战略规划，国际化战略开始加速

研究报告 Research Report 31 Aug 2025 信达生物 Innovent Biologics (1801 HK) 稳步推进五年战略规划，国际化战略开始加速 The five-year strategic plan is being steadily advanced, while the internationalization strategy is beginning to accelerate [Table_yemei 观点聚焦 1] Investment Focus [Table_Info] 维持优于大市 Maintain OUTPERFORM 评级 优于大市 OUTPERFORM 现价 HK$96.85 目标价 HK$105.80 HTI ESG 3.6-1.4-3.5 E-S-G: 0-5, (Please refer to the Appendix for ESG comments) 市值 HK$165.88bn / US$21.28bn 日交易额 (3 个月均值) US$262.75mn 发行股票数目 1,713mn 自由流通股 (%) 90% 1 年股价最高最低值 HK$ ...