The Zhitong Finance App learned that Cansino Biotech (06185) rose nearly 6% in the afternoon. As of press release, it had risen 4.54% to HK$17.96, with a turnover of HK$11.644,000.
CITIC Construction Investment said that in 2023, Cansino Biotech's profit side was affected by factors such as a sharp drop in COVID-19 vaccine revenue, the reduction in returns, and the inclusion of redundant production capacity in operating costs and asset impairment. It is expected that this part of the impact will be drastically reduced in 24. Combined with revenue growth and cost scale control, the overall loss is expected to narrow drastically.
The bank pointed out that MCV series products are the company's main products. As local promotion and entry results are achieved, channel construction is being completed, and the products are expected to usher in further volume, driving the company's non-COVID-19 vaccine revenue to grow rapidly. In addition, the company has a rich R&D pipeline. In 2024, various products under development, such as PCV13i, DTCP for infants and children, and tetanus vaccine, will reach a critical juncture. Subsequent smooth progress will help the company grow in the long term, and commercialization prospects are promising.