Yamato:(01099.HK) 18 Yamato: CICC lowers rating on Kunming Pharmaceutical Corp. (01099.HK) to "hold" with target price reduced to HK$ 18.

According to Zhitong Finance APP, Daiwa has released a research report stating that China National Pharmaceutical Group Corporation's (01099.HK) revenue has begun to stabilize, but a clear rebound timeline has not yet appeared. Retail pharmacy revenue in 2026 is expected to grow by double digits year-on-year. The rating has been downgraded from "outperform" to "hold", with the target price lowered from HK$21 to HK$18. It is expected that earnings per share will increase by 4.5%, 5.6%, and 8.5% respectively from 2026 to 2028, which is 3% to 6% lower than market expectations.