HK Stock Market Move | Pharmaron Beijing (03759) rises by nearly 4% again, with a cumulative increase of over 20% after performance release. It is expected that the net profit margin attributable to parent company in the third quarter will continue to improve.

Pharmaron Beijing (03759) rose nearly 4% again, with a total increase of over 20% after its earnings report. As of the time of publication, it rose by 3.34% to 10.2 Hong Kong dollars, with a trading volume of 46.015 million Hong Kong dollars. On the news front, Pharmaron Beijing previously released its interim results. The company's total operating income for the first half of the year was 5.604 billion yuan, a year-on-year decrease of 0.63%, with a net profit attributable to shareholders of 1.113 billion yuan, a year-on-year increase of 41.64%. Looking at the second quarter alone, the total operating income was 2.934 billion yuan, a year-on-year increase of 0.6%, and the net profit attributable to shareholders in the second quarter was 883 million yuan, a year-on-year increase of 101.64%. In addition, the Federal Reserve's announcement of aggressive interest rate cuts is expected to continue to improve global innovative drug financing. Zhongtai pointed out that based on the company's 2024 interim report and official website PPT, new signed orders in the first half of 2024 increased by over 15% year-on-year, achieving a moderate recovery for two consecutive quarters. Among them, new signed orders for laboratory services increased by over 10% year-on-year, and CMC new signed orders increased by over 25% year-on-year. With the increase in revenue scale, the company expects the Non-IFRS adjusted net profit margin to improve on a quarter-on-quarter basis in 3Q2024, while maintaining the target of a 10%+ annual revenue growth.