HK Stock Market Move | AKESO (09926) rose more than 5% in the afternoon. Institutions expect the company's product sales to increase by 60% year-on-year to 3.3 billion yuan this year.

AKESO (09926) rose more than 5% in the afternoon, up 4.91% at the time of publication, closing at HK$70.55 with a turnover of HK$11.85 billion. CICC International released a research report stating that AKESO's 2024 performance reflects strong cost control. Total revenue for the period was RMB 21 billion, with product sales revenue of RMB 20 billion, a year-on-year increase of 25%. The bank expects AKESO's product sales to increase by 60% to RMB 3.3 billion this year, benefiting from the inclusion of AK104 and AK112 in China's national medical insurance program. JPMorgan released a research report stating that AKESO's focus last year was on ensuring the inclusion of AK104 and AK112 in the national medical insurance drug list, rather than commercialization in the second half of the year. The bank believes that the highly differentiated efficacy and safety of AK112 and AK104 will help expand indications and drive sales growth. They have raised AKESO's target price from HK$76 to HK$88, reiterating a "hold" rating.