HK Stock Market Move | Pharmaron Beijing (03759) rose by more than 6%, with estimated net profit growth of 4%-10% in the first half of the year. CMC orders are expected to open up growth opportunities.

Pharmaron Beijing (03759) opened lower in the morning, but rose by over 6% in the morning session. As of the time of this report, it has increased by 4.95% and is trading at HK$23.3, with a turnover of HK$2.67 billion. On the news front, on July 13th, Pharmaron Beijing announced that it expects a net profit of 729 million to 772 million yuan in the first half of the year, an increase of 4% to 10% year-on-year. During this period, with the continuous expansion of strategic clients and the continuous progress of small molecule CDMO service projects to the later stage, the company's new signed orders have increased by over 30% year-on-year; among them, the new signed orders for laboratory services have increased by over 20% year-on-year, and the new signed orders for small molecule CDMO services have increased by over 50% year-on-year. Daiwa released a research report stating that Pharmaron Beijing is benefiting from the recovery of global biopharmaceutical financing and the continuous outsourcing demand from multinational pharmaceutical and biotechnology clients. The company's laboratory business maintains a steady growth momentum, with strong growth in new signed orders in the first quarter, expecting an income growth of 13 to 15% in this sector from 2026 to 2028; at the same time, the CMC (small molecule CDMO) business is moving towards commercialization and is expected to become a key growth point in the short to medium term, with a compound annual growth rate of 24% from 2026 to 2028. The bank said that due to the over 30% year-on-year growth in new signed orders in the first quarter and solid first quarter performance, they believe that Pharmaron Beijing can achieve the guidance of 12% to 18% annual revenue growth in 2026.