CITIC International slightly raised INNOVENT BIO's target price to 113.86 yuan, accelerating its transformation towards global biopharmaceuticals

Zhaoyin International published a research report indicating that INNOVENT BIO (01801.HK) will have strong performance in the fiscal year 2025, recording a net profit of RMB 834 million for the first time. During the period, total revenue reached RMB 13 billion, a year-on-year increase of 38%; product sales reached RMB 11.9 billion, a year-on-year increase of 45%. Given INNOVENT BIO's strong product line innovation capabilities and global development potential, accelerating its transformation into a global biopharmaceutical company, the "Buy" rating for INNOVENT BIO is maintained, with the target price slightly raised from HKD 110.62 to HKD 113.86