Understanding the Market | GENSCRIPT BIO fell over 3%, unbinding legendary contributions of $3.2 billion in revenue, with a net loss of $174 million in core business last year

GENSCRIPT BIO's stock price fell over 3%, down 3.44% as of the time of writing, at HKD 12.36, with a trading volume of HKD 163 million. The company released its 2024 annual performance, with revenue from continuing operations of approximately USD 594.5 million, an increase of 6.1% year-on-year; the parent company's profit was USD 2.962 billion, mainly benefiting from the USD 3.2 billion revenue from the spin-off of Legend Biotech. The core business reported a net loss of USD 174 million, facing challenges in profitability. Daiwa has lowered its target price to HKD 25, maintaining a "Buy" rating; Bank of China International has reduced its target price to HKD 21, also maintaining a "Buy" rating