Changes in Hong Kong stocks | Boan Biotech (06955) rose nearly 9%, and the company scale effect is beginning to show continuous accumulation and release of marketed biosimilar products

The Zhitong Finance App learned that Boan Biotech (06955) rose nearly 9%. As of press release, it had risen 8.92% to HK$8.3, with a turnover of HK$15.953 million.

According to a research report released by Zhongtai Securities, R&D investment to fund deferred development costs increased in the second half of 2023. Revenue reached 1.6, 5.2, and 620 million yuan respectively in 2021/2022/2023, and revenue reached 360 million yuan in the first half of 2024. The company's scale effect is beginning to show. The sales cost rate, management fee rate and R&D expense ratio (2024H1 R&D expenses decreased by about 40.2 million yuan, mainly due to the increase in R&D investment to allocate deferred development costs in the second half of 2023, and more R&D projects progressed to phase III clinical trials) The first half of 2024 was 40.4%, 6.7%, and 23.6% respectively. Compared with 2023, the company achieved its first profit in the first half of 2024.

According to the bank, the company has the ability to promote desulfame antibiotics to the core markets in Europe and the US at both the R&D and production levels. It is planned to complete the third phase of dysulumab International and will license cooperation in developed markets in Europe, America, and Japan. It is expected that the company's business will expand into overseas markets in the near future. Considering that the company relies on the excellent resources of Luye Pharmaceuticals, the domestic market for biosimilar drugs continues to expand varieties+volumes, the European and American markets are in the late stages of clinical research, and the innovative drug sector has several differentiated varieties. A number of foreign authorized collaborations that have already been implemented have proven the company's BD capabilities,