Cinda Biotech (01801) is now up more than 4%. As of press release, it is up 4.29% to HK$38.9 million, with a turnover of HK$153 million.
The Zhitong Finance App learned that Cinda Biotech (01801) is now up more than 4%. As of press release, it has risen 4.29% to HK$38.9, with a turnover of HK$153 million.
According to the news, Cinda Biotech previously announced its results. In 2023, the company achieved total revenue of 6.206 billion yuan, an increase of 36.2% over the previous year. Among them, product revenue reached 5.728 billion yuan, an increase of 38.4% over the previous year. The company's losses during the year narrowed year-on-year to RMB 1,028 billion, with a loss of 0.66 yuan per share without dividends.
HSBC published a report saying that it is optimistic about the commercialization progress of Cinda Biopharmaceuticals and believes that under effective cost control, the EBITDA balance target can be achieved next year. According to the bank, the company's valuation is still attractive. It is expected that the launch of the weight loss drug GLP-1/GCGR will be a catalyst for the future, and the expansion of commercial products will support its valuation.
Xiao Mo said that Cinda Biotech has established a vascular and metabolic (CVM) drug commercial team in line with mazdutide's commercial strategy. Given Cinda Biotech's 2027 sales target of 20 billion yuan, the bank expects that the company Mazdutide's 2027 sales target may reach 5 billion yuan or more. The bank slightly raised Cinda Biotech's gross margin and reduced operating expenses to take into account improvements in the company's operating efficiency.