---
title: "Stock Analysis: Hyphens Pharma | Lianhe Zaobao"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/253996315.md"
description: "Hyphens Pharma recommends increasing holdings, with a target price raised to 0.43 yuan, closing price at 0.305 yuan (+5.17%). The company's net profit in the first half of the year decreased by 69% year-on-year to 1.7 million yuan, mainly due to a 2.2 million yuan inventory write-down reserve and a 2 million yuan foreign exchange loss. Despite rising employee costs, gross profit reached a new high supported by the gross profit margin. The company stated it will strive to expand its product portfolio and improve gross profit margins, but must be cautious of inventory write-offs and foreign exchange loss risks"
datetime: "2025-08-21T12:29:44.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/253996315.md)
  - [en](https://longbridge.com/en/news/253996315.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/253996315.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/253996315.md) | [繁體中文](https://longbridge.com/zh-HK/news/253996315.md)


# Stock Analysis: Hyphens Pharma | Lianhe Zaobao

### Hyphens Pharma

-   Recommendation: Buy
-   Target Price: 0.43 CNY
-   Closing Price: 0.305 CNY (+5.17%)

Hyphens Pharma's net profit in the first half of this year decreased by 69% year-on-year to 1.7 million CNY. This decline in performance was mainly affected by two non-cash losses: first, a provision for inventory obsolescence of 2.2 million CNY was made, and second, a foreign exchange loss of 2 million CNY was incurred. The inventory obsolescence provision mainly targets the inventory of Sterimar brand nasal sprays, which may have been a precautionary measure taken due to a slowdown in sales in the first half of the year; if this batch of inventory expires, it will be written off.

Despite this, although employee costs increased in the first half of the year, gross profit also reached a new high supported by the gross profit margin. The company emphasized that "it is working to expand its product portfolio and is committed to improving gross profit margins." We have decided to raise Hyphens Pharma's target price to 0.43 CNY, but caution about the rising level of inventory write-offs and the ongoing risk of foreign exchange losses. (China Galaxy International Securities)

#### Further Reading

Stock Analysis: CSE Global Stock Analysis: CapitaLand Investment

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- [Hyphens Pharma (1J5.SG)](https://longbridge.com/zh-CN/quote/1J5.SG.md)

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