Bank of America Securities: lowers Stone Pharmaceutical Group's target price to 8 Hong Kong dollars, rating "underperforming the market"

Bank of America Securities released a research report stating that the total revenue of Stone Pharmaceutical Group last year decreased by 10.4% year-on-year to 26 billion yuan, and net profit decreased by 10.3% year-on-year to 3.9 billion yuan. The bank predicts that Stone Pharmaceutical's total revenue from partnerships this year will exceed 10 billion yuan, and adjusts its revenue forecast for each year from this year to 2028, with increases of 0.4%, decreases of 4.1%, and decreases of 4.1% respectively. Earnings per share forecasts for each year are adjusted downwards by 0.4%, 7.1%, and 22.3% respectively. Its target price is lowered from 9.1 Hong Kong dollars to 8 Hong Kong dollars, maintaining its rating as "underperforming the market".