Bank Rating | CMB International: Raised Kangfang Biotech's target price to HK$59.61, I believe this year will be another “good harvest year”

Gelonghui Finance · Mar 21 23:04

CMB International published a report raising the target price of Kangfang Biotech from HK$51.23 to HK$59.61, maintaining a “buy” rating. The company's revenue last year was 4.53 billion yuan, including product sales revenue of 1.63 billion yuan and license revenue related to AK112 of 2.92 billion yuan; product gross margin remained high at 91.8%, and the ratio of overall sales expenses to 56.3% of sales fell from 74.5% to 56.3%, reflecting improvements in operating efficiency. At the end of last year, it held sufficient cash of 4.9 billion yuan. The bank believes that this year is another “good harvest year”. Among them, AK104 and AK112 have potential for success. The non-oncology business is close to commercialization, and various drugs are being evaluated.

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大行评级｜招银国际：上调康方生物目标价至59.61港元 相信今年是另一个“丰收年”

Bank Rating | CMB International: Raised Kangfang Biotech's target price to HK$59.61, I believe this year will be another “good harvest year”

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大行评级｜招银国际：上调康方生物目标价至59.61港元相信今年是另一个“丰收年”