CSPC Pharma 1093

[winston]

not vested

<Research Report>CSPC PHARMA (01093.HK) rated Buy with target cut to $9.1 by Deutsche
May 26, 2014

Deutsche Bank noted in the latest research report that CSPC PHARMA (01093.HK) first-quarter gross profit margin rose 6.1 ppt yearly to 37.7%, mainly due to the product structure optimization.

The rating is set at Bu, with target price cut from $9.25 to $9.1.

The main risks include slow tender progress, regulatory delays, more intense competition and the loss of the largest shareholders.

Source: AAStocks Financial News

[winston]

not vested

<Research Report>CSPC PHARMA (01093.HK) target reduced to $6.66, rated Neutral - CS

According to the latest research report by Credit Suisse, revenue of CSPC PHARMA (01093.HK) had jumped 1.3% yearly in the first quarter, and net profit had increased 19.3% year-on-year.

The progress of tendering of non-EDL is slower-than-expected, and the bank believed this will hinder the growth outlook of medications introduced by CSPC PHARMA after 2011.

Credit Suisse believed CSPC PHARMA can achieve core earnings growth of 30% in fiscal 2014/2015.

Rating was retained at Neutral, and target price was lowered from $7.21 to $6.66.

Source: AAStocks Financial News

[winston]

not vested

<Research Report>CSPC PHARMA (01093.HK) rated Neutral with target raised to $6.94 by GS
Apr 8, 2014

Goldman Sachs raised CSPC PHARMA (01093.HK)'s target price by 23% to $6.94 but maintained the Neutral rating unchanged as it believed the company's valuation has topped the industry average and already reflected the strong growth momentum of its EPS.

The company's revenue forecasts for 2014-16 were lifted by 1%/2%/3% to reflect the increase in sales of APIs.

Meanwhile, the EPS forecasts were also hiked by 1%/2%/3% respectively.

Source: AAStocks Financial News

[winston]

not vested

CSPC PHARMA (01093.HK) upgraded to Outperform, target at $8.61 - C Suisse

Credit Suisse, in its latest research report, noted that CSPC PHARMA (01093.HK) +0.250 (+3.776%) Short selling $108.10M; Ratio 35.333% 1H core profit rose 50.4% yearly to $654 million, about 30-35% higher than market consensus.

The target price is raised from $6.11 to $8.61, as the 2014/15/16 EPS forecast was lifted by 9%/11%/13%.

The stock is also upgraded from Neutral to Outperform, on belief that the market will raise the fiscal forecast due to the robust interim results.

Source: AAStocks Financial News

[winston]

not vested

CSPC PHARMA (01093.HK) target hiked to $8.1, rated Overweight - JPM

JP Morgan, in its latest research report, said CSPC PHARMA (01093.HK) +0.250 (+3.776%) Short selling $108.10M; Ratio 35.333% 1H results were strong as the core profit grew 50%, with continued satisfactory sales of all 3 key products.

Therefore, the research house believes it is not reasonable for the stock to go south after the results were revealed.

The Overweight rating is reiterated, with target raised from $7.1 to $8.1.

Source: AAStocks Financial News

[winston]

not vested

CSPC PHARMA (01093.HK)'s substantial shareholder cuts holding

CSPC PHARMA (01093.HK) announced that Joyful Horizon Limited, a substantial shareholder of the company and a subsidiary of the controlling shareholder of the company, placed 650 million existing shares of the company, representing 11% of the issued share capital of the company, at the placing price of HK$6.30 (a 8.3% discount against the last closing price of $6.87), involving an amount of $4.095 million.

After completion, Joyful Horizon's shareholding in the company will drop from 41.78% to about 30.77%.

The stock has applied for trading resumption this morning.

Source: AAStocks Financial News

[winston]

not vested

CSPC PHARMA (01093.HK)'s controlling shareholder said to cut holding at discount

CSPC PHARMA (01093.HK)'s controlling shareholder Joyful Horizon Limited placed 650 million shares of the company at the placing price ranging from $6.3 to $6.45 (representing a discount of 6.1%-8.3% against yesterday's closing price of $6.87), and cashed in up to $4.19 billion, according to market sources.

Source: AAStocks Financial News

[winston]

not vested

<Result Ann>CSPC PHARMA (01093.HK) 1H net profit up 16.6%
Aug 26, 2014

CSPC PHARMA (01093.HK) announced interim fiscal results for the first six months ended 30 June 2014.

Net profit totaled $601 million, up 16.59% year-on-year.

EPS was HK10.17 cents, and no interim dividend was declared.

During the period, revenue increased 5.26% yearly to $5.342 billion.

Gross profit amounted to $2.021 billion, surging 31.1% as compared with the year-ago period.

Source: AAStocks Financial News

[winston]

not vested

<Result Ann>CSPC PHARMA(01093.HK) 1Q-3Q Net Profit Up 26.12%

CSPC PHARMA (01093.HK) announced that for the first three quarters as of the end of September, net profit rose 26.12% yearly to HK$1.568 billion.

Basic EPS equaled HK26.44 cents; no dividend was declared.

Source: AAStocks Financial News

[winston]

CSPC Pharmaceutical Group (1093HK)

3Q16: Earnings Could Grow Even Faster

CSPC recorded 3Q16 net profit of Rmb535m, up 27.0% yoy, driven by the innovative drug segment (up 28.8% yoy).

Sales of NBP injections surged 67.8% yoy and we expect revenue CAGR of 39.9% in 2016-18F.

The potential inclusion of the NBP injection into the NRDL and approval of four first-to-market (FTM) generics in 1Q17 will be near-term catalysts.

Maintain BUY with a higher target price of HK$10.00.

Source: UOBKH

https://research.uobkayhian.com/content ... 42bc62f2fa