UBS: The target price of REMEGEN (09995) has been raised to HK$120, and the rating has been upgraded to "Buy".

13:50 23/01/2026

UBS is positive about the cooperation between Rongchang Biology and AbbVie Group.

UBS releases research report that the rating of REMEGEN (09995) has been upgraded from "neutral" to "buy", and the target price has risen from 63.8 Hong Kong dollars to 120 Hong Kong dollars in one fell swoop. UBS has a positive view on the collaboration between REMEGEN and AbbVie, granting overseas rights to RC148 (PD-1/VEGF), and receiving an initial payment of $650 million, milestone payments of up to $4.95 billion, and double-digit tiered royalties on net sales outside Greater China. The bank believes that AbbVie, as a multinational pharmaceutical company, should be able to promote the global expansion of RC148 in research and commercialization, and has a positive view on the differentiated development strategy of RC148. The bank believes that the payment will reverse REMEGEN's net debt situation and expects that the approval of multiple new drugs in the future will help the company achieve a sustained break-even point from 2026 onwards.

BEIJING MEDIA (01000) issues profit warning, expecting a significant increase in the annual loss attributable to shareholders to approximately 68 to 73 million yuan.

China Resources Gas (01193) spent HK$22.80 million on January 23 to repurchase 1.0524 million shares.

CISI FIN (06058): Lin Dan appointed as executive director and Ye Jianfang appointed as independent non-executive director approved.

BEIJING MEDIA (01000) issues profit warning, expecting a significant increase in the annual loss attributable to shareholders to approximately 68 to 73 million yuan.

China Resources Gas (01193) spent HK$22.80 million on January 23 to repurchase 1.0524 million shares.

CISI FIN (06058): Lin Dan appointed as executive director and Ye Jianfang appointed as independent non-executive director approved.