Changes in Hong Kong stocks | Hanson Pharmaceuticals (03692) rose more than 3%. The company's gross margin for innovative drugs and other products expanded to 91% last year, and Amelco performed brilliantly

The Zhitong Finance App learned that Hanson Pharmaceuticals (03692) rose more than 3%. As of press release, it had risen 2.22% to HK$20.75, with a turnover of HK$85.3552 million.

According to the news, recently, Hanson Pharmaceuticals disclosed 2024 results. Citi believes that the company's revenue rose 21.3% year on year to RMB 12.3 billion last year, slightly higher than the bank's and market expectations of 1% to 2%; net profit rose 33.4% year on year to RMB 4.4 billion, which is 10% higher than the bank's expectations. Revenue from innovative drugs and antibody-conjugated drugs (ADC) increased 38.1% year-on-year to about RMB 9.5 billion during the period, and gross margin increased to 91% during the period.

BOC International released a research report stating that it reaffirmed Hanson Pharmaceuticals' “buy” rating, raised the target price from HK$24 to HK$24.6, corresponding 32 times the price-earnings ratio of 2025, and raised the company's 2025 to 2026 revenue forecast by 4 to 5% and net profit forecast by 3 to 5% to reflect more optimistic expectations for Amelok's sales and SG&A fee rates. The report points out that the company's performance last year exceeded market expectations, and Amelot's performance was outstanding. Last year, revenue and net profit increased by 21.3% and 33.4% respectively, to 12.3 billion yuan and 4.37 billion yuan respectively, exceeding market expectations. The bank is optimistic about the visibility of long-term performance growth driven by Amelot's rising share and the launch of new products.