19 August 2025 | 12:19AM HKT Sino Biopharmaceutical (1177.HK): First take: 1H earnings beats on dividend income; Major near-term BD deal re-iterated Strong 2H earnings with dividend income / investment gain; product sales in-line: 1H sales of Rmb17.6bn (+10.7% y/y vs GSe +10.5% y/y) was on par with our estimates, driven by solid growth of innovative products (+27.2% y/y). Excluding profits from discontinued operations, earnings (Rmb3.4bn) achieved strong growth of +140% y/y mainly due to significant dividen ...