CICC Raises Fosun Pharma's Target Price to 61.98 Hong Kong Dollars, Expects Significant Potential in Innovative Drug Research

Jin10 data, as of June 25th, Zhongtai International’s research report points out that Fuhong Hanlin (02696.HK) has the ability to transform from a profitable biopharmaceutical company to a leading enterprise in the biologics field. Innovative drug clinical data, including HLX43, HLX22, and Serplulimab, are all showing promising results, believing in their huge potential. Therefore, the target price has been raised from 20.33 Hong Kong dollars to 61.98 Hong Kong dollars, maintaining a buy rating. Zhongtai International believes that Fuhong Hanlin is actively expanding its global biopharmaceutical business through cooperation with pharmaceutical companies. Its commercial performance of Hanquyou (Trastuzumab) and Serplulimab is strong. The applications for the listing of HLX14 and HLX11 are currently under FDA review, and it is believed that they can open up overseas sources of income.