编号：2025-003 | 投资者关系活动 | √特定对象调研 □分析师会议 | | --- | --- | | 类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | √其他 （电话会议） | | 参与单位名称及 | 西部证券、摩根基金、人保养老、华泰柏瑞、万家基金、华 | | 人员姓名 | 泰资管、长盛基金、城旸投资、工银瑞信、宏利基金、招商 | | | 基金、西南证券 | | 时间 | 年 月 日-5 月 日 2025 5 22 29 | | 地点 | 电话会议 | | 上市公司接待人 | 公司高级副总裁盛海先生、董事会秘书李坤先生、副总裁窦 | | 员姓名 | 颖辉先生、学术总监程联胜先生 | | | 公司与投资者就相关问题进行了沟通，整理如下： | | | 问 年度的经营目标？ 1：公司 2025 | | | 答：2025 年公司的整体经营目标是实现恢复性增长，继 | | 投资者关系活动 | 续保持公司稳定健康发展的态势。公司将积极加强学术推 | | 主要内容介绍 | 广，提升水针的销售占比，推动生长激素的恢复性增长；中 | | | 药板块自去年 ...

Group 1 - Jianyin International raised the target price for Kangfang Biopharma (09926) by 33.3%, from HKD 90 to HKD 120, reflecting improved earnings forecasts and high potential for the company's lung cancer drugs in China and overseas [1] - Kangfang Biopharma's fundamentals are strong, with revenue forecasts for 2025, 2026, and 2027 increased to RMB 3.3 billion, RMB 5.3 billion, and RMB 9.6 billion respectively, and adjusted profit forecasts for 2025, 2026, and 2027 raised to RMB 121 million, RMB 1.2 billion, and RMB 3.9 billion respectively [1] - The approval of Ebdarokimab for moderate to severe plaque psoriasis in China is a significant milestone for Kangfang Biopharma [1] Group 2 - On April 23, Kangfang Biopharma announced that its drug AK112 met the target efficacy in a Phase 3 clinical trial for advanced squamous non-small cell lung cancer, showing superior efficacy compared to Tislelizumab [2] - The independent data monitoring committee confirmed that AK112's efficacy is significantly better than that of Tislelizumab, aligning with previously published Phase 3 clinical data [2] - AK112's performance indicates it outperforms Merck's well-known PD-1 biologic competitor, Keytruda [2]