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Hong Kong stocks fluctuated | CRO Concept stocks continued to surge in the morning, WUXI BIO (02269) and TIGERMED (03347) both rose over 9%.
In the early session, CRO Concept stocks continued to rise. As of the time of writing, WUXI BIO (02269) is up 9.59%, priced at 22.85 HKD; TIGERMED (03347) is up 9.09%, priced at 31.2 HKD; GENSCRIPT BIO (01548) is up 7.22%, priced at 11.88 HKD.
Shanghai Pharmaceuticals to Invest 1 Billion Yuan in Biomedical M&A Fund
Zhitong Hong Kong Stocks Early Insight | Yu Liang resigns as Chairman of the Board of Directors of Vanke (02202), and Xin Jie, Chairman of Shenzhen Metro Group, takes over.
According to the announcement from China Vanke Co.,Ltd., Shenzhen Metro Chairman Xin Jie has been appointed as the Chairman of the Board of Directors of China Vanke Co.,Ltd., while Yu Liang, who has resigned from the position of Chairman of the Board, will serve as the First Executive Vice President of China Vanke Co.,Ltd.
Hong Kong Stock Announcement Gold Mining | CSTONE PHARMA-B reaches a strategic cooperation with SteinCares regarding sugar-lowering monoclonal antibody in the Americas.
CONCORD NE (00182) intends to sell 100% equity of Taiming Company to Shadian for 0.636 billion yuan; CHINA VANKE (02202) intends to transfer the sales rights and equity for the Hongshu Wan project.
SH PHARMA (601607.SH): plans to invest 1 billion yuan to establish a merger and acquisition Fund.
On January 27, Gelonghui reported that SH PHARMA (601607.SH) announced its plan to participate as one of the limited partners in the establishment of a Merger and Acquisition Fund. The fund is expected to raise 5.01 billion yuan, with SH PHARMA committing 1 billion yuan of its own funds. The symbol fund will focus on the overall strategic development of the Shanghai Biomedical industry, aiming to connect globally and serve Shanghai's functional positioning, and strive to promote Shanghai's capacity to attract and gather international and domestic Biomedical industry innovative resources, collaborate with key areas of the Shanghai Biomedical industry, focus on the segments that significantly support the development of Shanghai’s Biomedical sector, and promote the construction of Biomedical research and development in Shanghai.
HAITONG INT'L: Maintains SH PHARMA "Outperform the Market" rating, with the Target Price raised to HKD 14.39.
HAITONG INT'L released a research report stating that it slightly lowered the revenue forecast for SH PHARMA (02607) for 2024 to 27.73 billion yuan, and slightly raised the revenue forecast for 2025/26 to 30.08/32.4 billion yuan, to reflect the impact of acquisitions and Huang Pharmaceutical; it slightly lowered theNet income forecast for 2024/25/26 to 4.8/5.4/5.7 billion yuan, respectively. The bank uses a cash flow discount model and cash flows from FY25-FY33 for valuation. Based on a WACC of 6.2%, a perpetual growth rate of 3%, and a 60% discount of Hong Kong stocks to A-shares (all unchanged), the corresponding Target Price is raised by 4.1.
Return Trends At Shanghai Pharmaceuticals Holding (SHSE:601607) Aren't Appealing
