Core Viewpoint - CICC has initiated coverage on HAPO with an "outperform industry" rating and a target price of HKD 13.4 [1] Group 1: Technology and Innovation - HAPO possesses a proprietary full-human monoclonal antibody transgenic mouse technology platform, which has undergone a technological upgrade from version 1.0 to 2.0 [1] - The company has developed multiple technologies, including HBICE, HBICA, ADC 2.0, and the HumAtrlx AI platform, leveraging the world's only patented full-human heavy chain antibody development platform (HCAb and H2L2) [1] - These technologies cover various antibody structures, significantly aiding the research and development of the next generation of full-human antibody therapies [1]