UBS: Maintaining Cinda Biotech's (01801) “Buy” Rating and Raising the Target Price to HK$60.7

The Zhitong Finance App learned that UBS released a research report stating that maintaining Cinda Biotech's (01801) “buy” rating, the EBIDTA balance in 2025 and the goal of reaching 20 billion yuan in revenue in 2027 remain unchanged. Based on the ideal performance in the first half of the year, the target price was raised from HK$57.4 to HK$60.7 by fine-tuning the forecast model.

According to the report, the company's revenue for the first half of the year was 4 billion yuan (same below), an increase of 46% over the previous year, higher than UBS's estimate of 3.4 billion yuan and the market forecast of 3.5 billion yuan. The net loss was 392.6 million yuan, an increase of 182%. It is roughly similar to UBS's estimated net loss of 389.1 million yuan, but it falls short of the net loss of 372.4 million yuan predicted by the market.