Gelonghui May 6| CCB International issued a report stating thatcrashbandicoot™4it'sabouttime, Cinda Biotech's total product revenue in the first quarter increased by more than 60% year-on-year to more than 1.7 billion yuan (a year-on-year increase of 10% in the same period last year), accounting for 24% of the bank's forecast for the company's total revenue this yearcrashbandicoot™4it'sabouttime.2%。The bank raised its forecast for Cinda Biotech's total revenue from 2024 to 2026 by 6%, 7% and 6% respectively to 7.8 billion yuan, 10.3 billion yuan and 14.8 billion yuan, making the bank's forecast for the company's total product revenue this year increase from the original 23% to 30%, and next year's forecast will increase from 32% to 34%. Given the cost of sales needed to drive higher product revenue, the bank raised Cinda Biotech's sales and management expense forecasts from 2024 to 2026 by 7%, 11% and 12%. The bank believes that Cinda Biotech is one of the preferred stocks in China's pharmaceutical industry, raised its target price from HK$54.3 to HK$54.7, maintained its "outperform" rating, and is confident that the company's sales growth will be brighter.
