Chinese pharma outperformed the market YTD, HSBC Global Research issued a research report saying. The broker has been optimistic about the innovative drug sector since the beginning of the year, and expected the strong momentum to continue.

HSBC Global Research forecasted the average product sales growth of the covered pharma companies to be about 11.2% in 1H25, in line with market consensus, as most BD projects signed in 1H25 will be booked in 2H25. In the long term, the average CAGR of leading pharmaceutical companies' earnings is expected to reach 18% for 2025-2027.

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The broker raised its target prices for Jiangsu HENGRUI PHARMA(600276.SH)  -1.590 (-2.528%)   / HANSOH PHARMA (03692.HK)  -0.450 (-1.273%)    Short selling $72.91M; Ratio 19.984%   / SINO BIOPHARM (01177.HK)  -0.200 (-2.660%)    Short selling $130.81M; Ratio 10.787%   / CSPC PHARMA (01093.HK)  -0.030 (-0.302%)    Short selling $505.63M; Ratio 16.999%   / CMS (00867.HK)  -0.340 (-2.549%)    Short selling $27.05M; Ratio 17.171%   to RMB70/ $45/ $8.49/ $10.7/ $16.1, with ratings kept at Buy.

Furthermore, HSBC Global Research lifted its target prices for LIVZON PHARMA (01513.HK)  0.000 (0.000%)    Short selling $10.84M; Ratio 14.785%   's H-/ A-shares to $37.54/ RMB44.16, and kept its target prices for FOSUN PHARMA (02196.HK)  -0.320 (-1.670%)    Short selling $34.38M; Ratio 15.748%   's H-/ A-shares at $17.2/ RMB25.3 respectively, with all of which kept at Hold.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-08-01 16:25.) (A Shares quote is delayed for at least 15 mins.)