CICC said that Cinda Biotech announced that Xinermei, a major product in the cardiovascular and metabolic fields, was approved for marketing in China as the world's first GCG/GLP-1 dual receptor agonist weight loss drug. On June 30, the company held an Oncology Innovation Research and Development Day event to showcase the company's strategy for next-generation immunotherapy and next-generation antibody-conjugated drugs, and to share clinical progress and data interpretation, including IBI363. CICC believes that the company's biggest products in the CVM sector since this year have been successfully implemented, and Pikonchibai is also expected to be approved for marketing within the year, and the IBI3030 pipeline is also interesting; IBI363 in the IO field is expected to become the next major IO product, and the ADC platform continues to gain revenue. CICC believes that the company's transformation has been smooth since the PD-1 era, that the CVM+IO field is rich in pipelines, and has the potential to unlock its global innovation value. The bank basically kept Cinda Biotech's net profit forecast of 472 million yuan/1,299 million yuan unchanged in 2025 and 2026. Based on the cash flow discount method model, the target price was raised by 38.1% to HK$95.3, taking into account the approval for the listing of Maxidu Peptide and the promotion of internationalization of the innovation pipeline.

CICC said that Cinda Biotech announced that Xinermei, a major product in the cardiovascular and metabolic fields, was approved for marketing in China as the world's first GCG/GLP-1 dual receptor agonist weight loss drug. On June 30, the company held an Oncology Innovation Research and Development Day event to showcase the company's strategy for next-generation immunotherapy and next-generation antibody-conjugated drugs, and to share clinical progress and data interpretation, including IBI363. CICC believes that the company's biggest products in the CVM sector since this year have been successfully implemented, and Pikonchibai is also expected to be approved for marketing within the year, and the IBI3030 pipeline is also interesting; IBI363 in the IO field is expected to become the next major IO product, and the ADC platform continues to gain revenue. CICC believes that the company's transformation has been smooth since the PD-1 era, that the CVM+IO field is rich in pipelines, and has the potential to unlock its global innovation value. The bank basically kept Cinda Biotech's net profit forecast of 472 million yuan/1,299 million yuan unchanged in 2025 and 2026. Based on the cash flow discount method model, the target price was raised by 38.1% to HK$95.3, taking into account the approval for the listing of Maxidu Peptide and the promotion of internationalization of the innovation pipeline.