CICC: Maintains Outperform rating on Peijia Medical-B (09996), raises target price to HK$10

According to the Wall Street Journal app, Zhongjin issued a research report stating that it maintains its unchanged profit forecast for Beijing Jia Medical-B (09996) for the years 2025/26 and maintains its outperform industry rating unchanged. Considering the overall recovery of the Hong Kong stock pharmaceutical sector, and the fact that several new products from the company are expected to be approved for listing from the end of 2025 to the middle of 2026, the target price based on the DCF model (WACC 9.5%, perpetual growth rate 1.3%) has been raised by 25% to 10 Hong Kong dollars, which represents an 18% upside compared to the current price. The company has disclosed revenue of 353 million yuan in the first half of 2025, an increase of 17.3% year-on-year, and the performance in the first half of the year meets the expectations of the company.