Core Viewpoint - Cinda Biologics (01801) has entered a global strategic partnership with Takeda Pharmaceutical to co-develop the next-generation IO cornerstone therapy IBI363, along with licensing agreements for IBI343 and IBI3001 [1] Group 1: Financial Impact - According to the report by Credit Lyonnais, the sales and net profit forecasts for Cinda Biologics for the fiscal year 2026 have been raised by 48.5% and 172% respectively, while the net profit forecast for 2027 has been increased by 1.5% [1] - The target price for Cinda Biologics has been adjusted from HKD 111.4 to HKD 120.1, maintaining an "outperform" rating [1] Group 2: Product Development and Market Strategy - The collaboration is viewed positively for Cinda's global expansion and product development, particularly in advancing the core project IBI363 [1] - IBI363 received FDA approval in August this year to initiate a Phase III clinical trial for the treatment of squamous non-small cell lung cancer [1] - The plan for joint commercialization of IBI363 in the U.S. is expected to unlock market value, leveraging Takeda's strong commercial rights and experience in the U.S. market [1]