Xiaomo: Reiterates that Sinda Biotech is one of the top choices in the biotechnology industry, and the collaboration with Lilly is a pleasant surprise.

JPMorgan Chase released a research report stating that Cinda Biopharmaceutical and Eli Lilly have reached a strategic cooperation to jointly develop new biological preparations focusing on the fields of oncology and immunology globally. The bank believes that this collaboration is a positive surprise, marking another important milestone for Cinda Biopharmaceutical as it moves towards becoming a global biopharmaceutical company, highlighting the strength of its research and development platform. During a conference call, Cinda Biopharmaceutical's management reiterated its long-term vision, primarily benefiting from the support of its dual-engine growth strategy in the fields of biosimilars and oncology drugs. The bank continues to be impressed by Cinda Biopharmaceutical's execution capabilities in its commercial and R&D product lines, as well as its strong business expansion capabilities. The bank restated that Cinda Biopharmaceutical is one of their top picks among the Chinese biotechnology companies they cover, giving it a "hold" rating with a target price of HK$111.