---
title: "Citi Raises SKB BIO  TP to HKD625, Removes 'High Risk' Rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296447110.md"
description: "Citi raised SKB BIO's target price to HKD625 and removed its 'High Risk' rating, maintaining a Buy recommendation. The upgrade follows strong H1 performance, with revenue up 3% YoY and adjusted net profit reaching RMB479 million, reversing last year's loss. Citi lowered FY2026/2027 revenue forecasts slightly but raised FY2028 estimates by 5%. EPS forecasts for FY2026-2028 were adjusted to RMB1.45, RMB3.66, and RMB9.49 respectively, reflecting optimism driven by rapid sales growth and potential FDA approval for sac-TMT in FY2027."
datetime: "2026-08-20T06:56:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296447110.md)
  - [en](https://longbridge.com/en/news/296447110.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296447110.md)
---

# Citi Raises SKB BIO  TP to HKD625, Removes 'High Risk' Rating

Citi released a research report stating that SKB BIO (06990.HK) +19.000 (+3.629%) Short selling $50.46M; Ratio 11.753% 's revenue for 1H grew 3% YoY, with pharmaceutical sales rising 112% YoY. Adjusted net profit reached RMB479 million, compared with a net loss in the same period last year. Management remained optimistic on performance in 2H26 and reiterated its target of 100% growth in product sales for FY2026.

The broker noted that Merck & Company, Inc. (MRK.US) has initiated 17 global Phase III clinical studies for sac-TMT. The product is expected to obtain commercialization approval from the US FDA in FY2027, with production capacity gradually expanding outside China.

The broker lowered its FY2026 and FY2027 revenue forecasts for SKB BIO (06990.HK) +19.000 (+3.629%) Short selling $50.46M; Ratio 11.753% by 8% and 3%, respectively, while raising its FY2028 forecast by 5% to reflect the latest sales trends. Taking into account other income and potential milestone payments, it adjusted the company's EPS forecasts for FY2026-FY2028 to RMB1.45, RMB3.66 and RMB9.49, respectively. The TP was raised from HKD560 to HKD625. However, driven by rapid sales growth and the achievement of net profit in 1H, the broker believes the company can break even this year and therefore removed the 'High Risk' rating while maintaining a Buy rating on the stock. (sl/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-20 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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