HK Stock Market Move | HENLIUS (02696) surged nearly 7% in early trading, with overseas product revenue increasing by 159% in the first half of the year. Citigroup raised its earnings forecast and target price.

HENLIUS (02696) rose nearly 7% in early trading, and as of the time of writing, was up 5.86%, trading at HKD 72.3, with a transaction volume of HKD 14.1655 million. In news, HENLIUS reported its interim results, with revenue in the first half of the year reaching RMB 3.59 billion, an increase of 27% year-on-year; net profit was RMB 430 million, up 10% year-on-year. Research and development expenses rose 41% year-on-year to RMB 826 million due to accelerated R&D progress. During the period, global product sales revenue was RMB 2.9386 billion, a year-on-year increase of 14.9%; overseas product sales revenue was RMB 105.3 million, a staggering year-on-year growth of 159.4%; overseas product profit reached RMB 59.5 million, more than quadrupling compared to the same period last year. Citi released a research report stating that due to the company's strong internal innovation capabilities, the bank is optimistic about its intrinsic growth and business expansion potential. The bank adjusted its revenue forecasts for this year and next year by 8% and 3%, respectively, and raised its earnings per share forecast to RMB 1.52 and RMB 1.79. The target price was slightly adjusted from HKD 95 to HKD 95.2. A "Buy" rating was maintained.