UBS: Raises target price for Shanghai Pharma to HKD 15, rating "Buy"
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UBS raised the target price for Shanghai Pharma to HKD 15, with a rating of "Buy." Management stated that in 2025, they will focus on the business transformation of the industrial and commercial sectors, with the former concentrating on innovative drugs and traditional Chinese medicine, and the latter focusing on CSO and innovative drug services. Although the earnings per share forecast for 2025 was raised by 7%, the earnings forecasts for 2026 and 2027 were lowered by 11% and 10%, respectively. In the first three quarters, operating revenue increased by 2.6% year-on-year, and net profit attributable to the parent company increased by 27%
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