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CICC Cuts UNITED LAB (03933.HK) TP to HKD12, 1H Adjusted Profit In Line
2026-09-02 16:07:20
CICC issued a report saying that UNITED LAB (03933.HK)'s adjusted profit for 1H was in line with the broker's expectations. Considering foreign exchange losses, the broker lowered its 2026 net profit attributable to shareholders forecast by 9% to RMB871 million, while maintaining adjusted net profit at RMB957 million. Considering increased investment in R&D and selling expenses, it lowered
2027 net profit attributable to shareholders/ adjusted net profit by 19.7% to RMB1.41 billion. Considering the valuation center adjustment for Hong Kong-listed API and intermediate businesses, the broker cut the TP by 25% to HKD12. The rating was maintained at "Outperform". (ha/u)~

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