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| HSI1 | 25,517.33 | -492.13 | 291.15B |
| HSCEI1 | 8,471.36 | -162.98 | 116.43B |
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2026-08-24 14:28:55 Citi published a research report stating that 3SBIO (01530.HK)'s interim revenue grew 4% YoY to RMB4.53 billion. Affected by changes in VAT rates and the industry's anti-corruption campaign, product sales revenue fell 19% YoY, although the company recorded milestone revenue of RMB852 million from SSGJ-707 during the period. Citi expected the impact from the VAT rate increase to continue in 2H26, but remained positive on product sales prospects for 2027 to 2028, mainly driven by ramp-up of new products. Pfizer has launched nine global clinical trials for 707. In 1H26, two Phase III studies were initiated, with plans to launch another two Phase III studies in 2H26 (first-line endometrial cancer and first-line metastatic urothelial carcinoma) as well as multiple Phase II studies. Citi expected milestone revenue of more than USD100 million in 2H26. Based on the continued impact of industry anti-corruption measures and VAT rate adjustments, Citi lowered its revenue forecasts for 3SBIO for 2026 to 2028 by 18%, 9% and 4%, respectively. Its EPS forecast for 2026 was reduced from RMB1.03 to RMB0.85, while forecasts for 2027 and 2028 were raised to RMB0.96 and RMB1.05, respectively. The broker cut its TP from HKD36 to HKD34.4 and maintained its Buy rating.(gc/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |