CICC International: Lower Huarun Medicine & Healthcare (00013.HK) target price to 37.6 Hong Kong dollars, maintain "Buy" rating.

According to the Wisdom Financial APP, CICC has released a research report stating that it maintains a "buy" rating on Hutchison China MediTech (00013.HK), focusing on the differentiated ATTC platform. At the same time, it has lowered the sales forecast for the company's three major commercialized products and lowered revenue forecasts for 2025 to 2027 by 11-14%, lowering the target price to HK$37.6. The company's first candidate drug for the differentiated ATTC platform, HMPL-A251, is expected to start Phase I studies targeting solid tumors in China and the United States in the second half of the year. In 2026, two ATTC molecules will also enter clinical trials, with potential opportunities for BD transactions.