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Puyin International Securities released a research report on August 26th giving a buy rating to Nuocheng Jianhua (688428.SH). The reasons for the rating include: 1) 2Q25 revenue roughly in line with expectations, with slight improvement in net loss for shareholders; 2) The performance of Obutini in the second quarter was roughly in line with expectations, maintaining the full year guidance of "35% year-on-year growth"; 3) The research progress of two TYK2 inhibitors is in line with expectations; 4) BD is expected to become a long-term sustainable source of income. (Daily Economic News)
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