Sino Biopharm 1177

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<Research>UOB Kay Hian Adds SINO BIOPHARM (01177.HK) TP to $3.8, Expects Rev. Growth to Accelerate in 2024

SINO BIOPHARM (01177.HK) 's 2023 revenue/ adjusted net profit rose 0.7%/ 1.5% YoY each, in line with UOB Kay Hian's expectations, UOB Kay Hian issued a research report saying.

UOB Kay Hian expected its newly launched biosimilar products to support revenue growth of 9.7% this year, while 4 innovative drugs to be launched this year will improve growth prospects for 2024 to 2026.

Related News: G Sachs Lowers TP of SINO BIOPHARM (01177.HK) to $4.02; 2H23 Weak as Expected

UOB Kay Hian added its target price on SINO BIOPHARM from $3 to $3.8, and upgraded the Company to Buy.

The management targets a faster revenue growth this year, according to the report. UOB Kay Hian expected five biosimilars to be the key growth drivers.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

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SINO BIOPHARM (01177.HK) Once Lifts 3%; Liraglutide Injection Approved for Marketing by NMPA

SINO BIOPHARM announced that its Liraglutide Injection, with the trade name Beilelin, has obtained approval for marketing from the National Medical Products Administration (NMPA) of China for blood sugar control in adult patients with type 2 diabetes.

Besides liraglutide, the group said it is developing semaglutide, which is currently in clinical phase III and is expected to bring benefit to hundreds of millions of Chinese patients with diabetes and obesity.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

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<Results>SINO BIOPHARM (01177.HK) Interim NP Soars 1.4x to RMB3.02B; Interim DPS HK3 Cents

SINO BIOPHARM (01177.HK) has announced its interim results for six months ended 30 June 2024.

Its revenue surged 11.1% YoY to RMB15.87 billion, while its net profit rose 1.4x YoY to RMB3.02 billion.

EPS was RMB16.39 cents.

An interim dividend of HK3 cents has been declared, compared to HK2 cents in the same period last year.

The company has revealed that 4 innovative products were approved for marketing by the National Medical Products Administration of China (NMPA) during the period, of which 3 are national category 1 innovative drugs.

In 1H24, the group’s revenue from innovative products reached RMB 6.13 billion, a YoY increase of 14.8%.

In addition to innovative products, the group had 11 generic drugs approved for marketing by the NMPA.

The overall revenue of generic drugs achieved positive growth in 1H24.

During the period, the group’s revenue from new products launched within five years reached RMB6.03 billion, representing a YoY increase of 39.6%.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

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<Research>CICC: SINO BIOPHARM (01177.HK) Interim Adj. NP Beats; Rating Outperform

CICC released a research report, saying that the adjusted net profit of SINO BIOPHARM (01177.HK) in 1H24 increased by 14% YoY, which was slightly ahead of consensus expectations, while the revenue growth of 11.1% was in line with expectations, which is expected to be driven by the improvement of operational efficiency.

CICC maintained its expectation of double-digit growth in revenue and net profit for the full year this year, and believed that the growth rate is expected to accelerate in 2025 and 2026.

Considering that the impact of centralised procurement has largely been eliminated, the generic drug business is expected to record single-digit growth in the future.

Related News: SINO BIOPHARM (01177.HK) Interim NP Soars 1.4x to RMB3.02B; Interim DPS HK3 Cents

In anticipation of continued improvement in operational efficiency, CICC raised its adjusted net profit forecasts on SINO BIOPHARM for 2024 and 2025 by 4% and 6%.

The broker maintained its Outperform rating with an unchanged target price of $4.2, corresponding to 23.8x 2024 and 21.3x 2025 adjusted net profit margin forecasts.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

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Sino Biopharmaceutical (1177 HK) 1H24: Results Beat;

Expects Double-digit Revenue And Earnings Growth In 2024

Sino Biopharm posted stronger-than-expected 1H24 results with revenue growing 11.1% yoy, and adjusted net earnings rising 14.0% yoy.

Innovative drug revenue jumped 14.8% yoy, while generics also regained positive revenue growth.

The company expects innovative drugs to continue to drive double-digit revenue and adjusted earnings growth in 2024. Maintain BUY with a higher target price of HK$4.00.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

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SINO BIOPHARM Chairman Foresees Innovative Products to Contribute ~Half Rev. in 2026

SINO BIOPHARM (01177.HK) Chairman Theresa Tse said that the number of innovative product projects under its umbrella is growing, and expected that the number will exceed 25 by 2026, continuing to contribute to revenue.

There will be more blockbuster products with annual sales exceeding RMB2 billion, she said.

At the same time, she forecast that the contribution of innovative products to revenue will continue to ascend.

She projected that nearly half of the revenue will come from innovative products by 2026.

Related News: SINO BIOPHARM (01177.HK) Interim NP Soars 1.4x to RMB3.02B; Interim DPS HK3 Cents

CEO Eric Tse added that the generic drug business is developing steadily, while innovative drugs are growing swiftly.

He described the product pipeline as having entered a harvest period, while estimating that new products will be launched intensively in the next few years.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

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SINO BIOPHARM Spends RMB142M to Buy Shr in LaNova Medicines

SINO BIOPHARM (01177.HK) injected its capital to the equity interests of LaNova Medicines with its self-raised funds, and established a strategic collaboration in the Mainland China region for LM-108 and various potential innovative bispecific antibody or antibody-drug conjugate (ADC) in the future, according to SINO BIOPHARM's announcement.

On 18 October, LaNova Medicines announced that it completed the Series C1 financing amounting to RMB300 million, by which the raised funds would be utilized for expediting the development of clinical pipelines and the construction of innovative platforms.

Pursuant to the capital increase and subscription agreement, the Group, as the leading investor in this series of financing, paid RMB142 million to LaNova Medicines, thus acquiring 4.91% equity interests in LaNova Medicines after the transaction.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

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2024: Earnings Beat; Expects Double-digit Revenue Growth In 2025

Sino Biopharm reported a 10.2% yoy revenue growth in 2024, slightly below expectations, but achieved a robust 33.5% yoy increase in adjusted net earnings.

Expecting robust sales of innovative drugs, the company guided double-digit revenue growth for 2025.

With its innovation pipeline maturing, it targets to launch over 10 new innovative products in 2025-27, underpinning sustained long-term growth.

Maintain BUY and target price of HK$5.00.

Source: UOBKH

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<Research>BofAS Elevates SINO BIOPHARM's TP to HKD5.1; Rating Reiterated Buy

BofA Securities has issued a research report raising its target price for SINO BIOPHARM (01177.HK) from HKD4.4 to HKD5.1, with a Buy rating reiterated.

Given more clinical proof of efficacy obtained by the company, its robust sales performance in March, and its announcement that QP001 (meloxicam injection) has recently received marketing approval from China's NMPA and the US FDA.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

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SINO BIOPHARM's TQB2868 Injection Approved by CDE for Phase III Clinical Study

SINO BIOPHARM (01177.HK) announced that TQB2868 injection “PD-1/TGF-β bi-functional fusion protein”, a Class 1 innovative drug developed by the Group, combined with anlotinib hydrochloride capsules and chemotherapy as first-line treatment for metastatic pancreatic ductal adenocarcinoma (mPDAC) demonstrated excellent efficacy and good safety in early clinical trials.

The Group recently submitted an application for a Phase III clinical study of the drug to the Center for Drug Evaluation (CDE) of the National Medical Products Administration of China and received written approval from the CDE to initiate the study.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN