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Citi Trims CSPC PHARMA's TP to HKD11.5, Rating Buy
2026-03-26 10:45:23
CSPC PHARMA (01093.HK)'s 2025 revenue and net profit dropped by 10% YoY to RMB26 billion and RMB3.9 billion, respective, according to a report from Citi. The company also recorded a YoY fall of 25% in sales expenses to RMB6.5 billion and an increase of 12% in R&D costs to RMB5.8 billion.

The management maintains a conservative outlook, though it expects the FY26 results to turn positive. Citi has reduced its target price for CSPC PHARMA from HKD12.1 to HKD11.5 but kept the Buy rating unchanged.
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