CICC: Maintain "Outperform" rating on Innovent Biologics (01801.HK) with a target price of HK$118.3.

According to the Wisdom Financial APP, CICC released a research report stating that it maintains a "outperform industry" rating for Sino Biopharmaceutical (01801.HK). Based on the DCF model, the target price of 118.3 Hong Kong dollars remains unchanged, with an upward potential of 31.4% compared to the current stock price. The bank maintains its forecast of 3.37 billion yuan and 4.08 billion yuan in net profit attributable to mothers for 2026/2027. On April 30, the company announced that it had achieved product revenue of over 3.8 billion yuan in the first quarter of 2026, a year-on-year increase of over 50%, in line with the bank's expectations. In addition, the company has announced that it will present multiple clinical research results at the 2026 American Society of Clinical Oncology (ASCO) meeting.