HK Stock Market Move | ZAI LAB(09688) rose more than 5% with institutions optimistic about its continued improvement in commercialization and innovative research and development. It is given an initial "buy" rating.

ZAI LAB (09688) rose more than 5%, as of the deadline for this article, it had increased by 5.01% to 20.35 Hong Kong dollars, with a turnover of 51.4273 million Hong Kong dollars. On the news front, CITIC SEC pointed out that ZAI LAB has now accumulated a promising product pipeline, with smooth commercialization progress and rapid growth in operating income, with a turnaround in sight. Several products in the company's pipeline have the potential to become "blockbuster" drugs, with peak single-product sales expected to exceed 5 billion RMB, all in the early stages of commercialization, and with strong certainty of high-speed growth in performance in the next 2-3 years. The company is gradually establishing its own research and development capabilities, with a rich portfolio of early-stage products, empowering long-term development. GF SEC recently released a research report stating that the gradual approval and listing of the company's core varieties is expected to help accelerate product sales, as the company's global equity pipeline demonstrates therapeutic potential in the clinical stage, driving the company's development into a new stage. The firm is optimistic about the company's continued improvement in commercialization and innovative research and development. It is expected that the company will achieve revenues of 387 million, 561 million, and 856 million US dollars in the years 2024-2026, with a risk-adjusted DCF method yielding a company's fair value of 33.70 Hong Kong dollars per share. First coverage, with a "buy" rating.