CICC: Maintains China Biologic Products (01177.HK) Outperform rating and raises target price to HK$8.90.

According to the Wisdom Finance APP, Zhongjin released a research report stating that considering the optimization of operating efficiency and the increase in dividend income, it raised the adjusted net profit for China Biotech (01177.HK) in 2025/2026 to 44.70 billion yuan / 49.21 billion yuan, representing a 16.9% / 17.2% increase. The current stock price corresponds to a 30.4 times / 27.2 times adjusted price-earnings ratio for 2025/2026. The rating of outperforming the industry is maintained, with the target price simultaneously raised by 17.1% to 8.90 Hong Kong dollars, corresponding to a 34.2 times price-earnings ratio for 2025 and a 30.6 times adjusted price-earnings ratio for 2026, representing a 12.5% upside potential compared to the current stock price.