CICC International: Raised the target price of BeiJing Shenzhou (06160.HK) to 186 Hong Kong dollars and maintained a "outperform" rating.

According to the Zhongtong Financial APP, CIMB International released a research report stating that BeiGene (06160.HK) turned a profit in the first quarter of this year compared to a loss in the same period last year, with a GAAP net profit of 1 million US dollars. Excluding stock-based compensation costs and other income, the net profit reached 93 million yuan, exceeding market expectations. Due to the expected reduction in tax expenses, the bank has raised its adjusted profit forecasts for 2025, 2026, and 2027 from 420 million yuan, 801 million yuan, and 2.4 billion yuan, respectively, to 488 million yuan, 840 million yuan, and 2.5 billion yuan. The target price for the Hong Kong stock has been raised from 183 Hong Kong dollars to 186 Hong Kong dollars, reflecting the upward revision of profit forecasts; maintaining an "outperform the market" rating. The bank also believes that the group can achieve a full-year net profit in GAAP and non-GAAP for the first time this year.