M Stanley issued a report stating that INNOVENT BIO (01801.HK) +1.850 (+1.914%) Short selling $130.68M; Ratio 17.037% 's product revenue for 1H reached RMB8.2 billion. The broker raised its 2026-2028 forecasts for product revenue/total revenue by 6%/5%/2%, mainly reflecting strong performance from core products including GLP-1, PCSK9 and partnered products. EPS forecasts were correspondingly revised by +13.7%/+11.2%/-1.2% during the period. The TP was raised from HKD135 to HKD138.5, with rating maintained at "Overweight".

The report noted that the group's 1Q product revenue exceeded RMB3.8 billion, representing YoY growth of more than 50%, benefiting from the expansion of the National Reimbursement Drug List and sales growth of products including Mazdutide, Xinbile and TKI products. IBI363/IBI343, developed in collaboration with Takeda Pharmaceutical, transformed Chinese innovation into retained global economic rights. Data released by IBI363 at the American Society of Clinical Oncology annual meeting strengthened its potential in second-line non-small cell lung cancer and early first-line treatment. Profitability is expected to reach a strategic inflection point, while cash flow generation supports longer-term asset holding, stronger partnership terms and repeatable global proof-of-concept validation. (ad/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-18 16:25.)