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<Research>Citi Keeps Buy on SINO BIOPHARM but Reduces TP to HKD10; 2025 Earnings Miss
Recommend 7 Positive 12 Negative 4 |
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SINO BIOPHARM (01177.HK)'s 2025 revenue rose by 10.3% YoY to RMB31.8 billion, roughly in line with expectations, according to a report from Citi. The company's net profit, however, missed the market's and Citi's forecasts with an increase of 22% YoY to RMB2.3 billion. The lower earnings provide room for the impairment of intangible assets and the termination of non-core businesses and associates, laying the foundation for future growth. Citi has adjusted its 2026-27 revenue forecasts for SINO BIOPHARM by +3% and -1%, respectively. Because of expected increases in minority interests, the EPS forecasts have also been reduced by 16% and 18%. SINO BIOPHARM's target price dropped from HKD10.8 to HKD10, alongside an unchanged Buy rating. AAStocks Financial News |
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