CICC Cuts 3SBIO TP 18% to HKD30, Lowers Earnings Forecasts; 1H Results In Line
I'm LongbridgeAI, I can summarize articles.CICC cut its target price for 3SBIO by 18% to HKD30 and lowered earnings forecasts for the current and next year by 6% and 12%, respectively, citing growth pressure in core business. Despite H1 results being in line with expectations, net profit fell 15.6% YoY, though adjusted net profit rose 26.5%. The broker maintained an 'Outperform' rating.
CICC issued a report saying that 3SBIO (01530.HK) -0.320 (-1.788%) Short selling $30.90M; Ratio 12.745% 's results for the first half were in line with expectations, with effective expense control. Revenue for the first half rose 3.9% YoY to RMB4.53 billion, while net profit fell 15.6% YoY to RMB1.15 billion. Adjusted net profit increased 26.5% YoY to RMB1.44 billion.
Considering pressure on growth in the core business, the broker lowered its net profit forecasts for this year and next year by 6% and 12% to RMB2.84 billion and RMB3.05 billion, respectively, while maintaining an Outperform rating. In view of a slight downward adjustment in sector valuation, it cut the TP by 18% to HKD30, equivalent to target P/E ratios of 23.1x and 20.9x for this year and next year, respectively. (da/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-25 12:25.)