bocom intl: Raised beigene's target price to 159 Hong Kong dollars, with product sales and operation continuing to improve in Q3.

Bocom Intl released a research report stating that it has raised the target price of Beigene (06160) to 159 Hong Kong dollars, based on the 3Q performance and the continued strong trend in product sales volume, raising the revenue forecast for 2024-26 by 6-7%. At the same time, the peak sales forecast for Zejula is raised by 4% to 5.4 billion. The bank stated that in the next 12 months, they will focus on: 1) approval of more indications such as LESC, LGC, etc. for Tislelizumab in core developed countries like Europe and America, data readouts of I/O combination therapy (Tislelizumab in combination with OX40, LAG3, etc.); 2) Bcl-2 inhibitors.

Sina Hong Kong stocksNov 14 20:41 ET

Bocom Intl: In October, the domestic mobile game large cap remained stable, while tencent's holding of water flow was stable.

Bocom Intl released a research report stating that it gives a leading rating to the internet plus-related industry. The bank maintains Tencent (00700) third and fourth quarter mobile game revenue growth acceleration expectations (16%/21%), focusing on the stable revenue of "MDnF" and the progress of new games like "Dawn of the Stars" going online. The report mentions that Netease-S (09999) is expected to see marginal improvement in mobile game performance in the fourth quarter, with valuation at a historical low. Tencent's revenue remained strong in October, with domestic mobile games' net increase in revenue by 13% year-on-year, "MDnF" generating 1.3 billion RMB in revenue in October, continuing the downward trend compared to the previous month. Overseas revenue increased by 22% year-on-year, still affected.

Sina Hong Kong stocksNov 6 02:26 ET

Bocom Intl: Downgrade topsports rating to 'Neutral' with target price cut to 3.06 Hong Kong dollars

Bocom Intl released a research report stating that considering the continued pressure on current customer traffic, it has lowered the financial estimates for Topsports (06110). The target price has been reduced to 3.06 Hong Kong dollars, with a potential upside of 14.1%, based on a 11x PE ratio for the 2025-26 fiscal year. The rating has been downgraded from 'buy' to 'neutral'. The report points out that due to the pressure on customer traffic this year, revenue in the first half of the fiscal year dropped by 7.9% year-on-year. The gross margin decreased by 3.6 percentage points year-on-year, mainly due to deepening discount rates and an increase in the proportion of low-gross-margin wholesale channels. The net margin declined by 2.7 percentage points year-on-year to 6.7%. The mid-term dividend payout ratio reached 99.

Sina Hong Kong stocksNov 5 22:47 ET

bocom intl: sino biopharm's 3Q24 performance exceeded expectations, acquiring the controlling rights of the first A-share company.

Bocom Intl released a research report stating that sino biopharm (01177) 3Q24 revenue increased by 14.3% year-on-year to 5.47 billion yuan, with adjusted net income increasing by 58.0% to 0.6 billion yuan, both exceeding the bank's expectations. Management maintains the guidance of double-digit revenue growth for the full year. In addition, the company acquired control of Hoauoboo (688656.SH), entering the immune diagnostic track, with an acquisition price of 33.74 yuan/share. After completion, Hoauoboo will become the first subsidiary of sino biopharm listed on the A-share market. The bank believes that its product portfolio will complement the company in the fields of respiratory, autoimmune, and other diseases.

Sina Hong Kong stocksOct 31 21:41 ET

Bocom Intl: Maintains the flat glass 'neutral' rating with a target price of 13.15 Hong Kong dollars.

Bocom Intl released a research report stating that it maintains a "neutral" rating on flat glass (06865), with profit downgrades of 44%/49%/29% for 2024-26. The company's ROE from 2019-23 ranged from 15-27%, with an estimated average of 12.7% for 2021-25 and a target price of 13.15 Hong Kong dollars. The bank believes: 1) the industry is effectively destocking, 2) the rapid elimination of small kilns is faster than expected, and 3) the industry as a whole can effectively control new capacity in the next 12 months, pushing for more sustainable valuation improvements, which is also the key for the bank to consider upgrading its rating.

Sina Hong Kong stocksOct 30 22:38 ET

bocom intl: Raised bilibili-W target price to HK$194, saying 'Three Cunning' game revenue exceeded expectations.

Bocom Intl published a report stating that the target price of Bilibili-W (09626) was raised by 25%, from 155 Hong Kong dollars to 194 Hong Kong dollars, maintaining a "buy" rating. The bank indicated that due to the better-than-expected performance of Bilibili's game "Three Kingdoms: Strategy to Win the World" ("Three Strategies"), the revenue for Bilibili in the third quarter was raised by 1% to 7.3 billion yuan, with the expected gross margin of the group increasing by 9 percentage points to 34% year-on-year. At the same time, taking into account revenue deferral, Bocom Intl raised the third quarter and full-year 2024 game revenue for Bilibili to 19 billion and 5.6 billion yuan respectively. Based on the impressive revenue of "Three Kingdoms: Strategy to Win the World".

Sina Hong Kong stocksOct 17 00:04 ET