Lyon: Continue to be optimistic about the development of Stone Pharmaceutical Group, maintain "highly confident in outperforming the market" rating.

A report released by Lyon pointed out that although the sales of Enbitoro and Dimeisu by Stone Pharmaceuticals Group faced challenges, the first quarter performance still met expectations, with a year-on-year decline in net profit of 8.4%. It is believed that the company's profitability has bottomed out in the first quarter. In addition to the focus on SYS6010, management also revealed that two other products are expected to achieve potential licensing agreements, with both exceeding 5 billion US dollars in size. Lyon continues to be bullish on the development of Stone Pharmaceuticals, believing that its early-stage R&D pipeline is globally competitive and has a differentiated innovative drug platform. They maintain a "highly confident outperform the market" rating on Stone Pharmaceuticals with a target price of 13.8 Hong Kong dollars.