CMBC International: Maintains "Buy" rating for HENLIUS (02696), with a slightly raised target price of HKD 99.78.

10:46 25/03/2026

The company is accelerating its transformation into a leading biologics company with high innovation capability, with competitive products such as HLX43, HLX22, and serplulimab leading the way in its development.

China Merchants International released a research report stating that HENLIUS (02696) benefited from strong product sales growth and strong performance in the 2025 fiscal year. The company is expanding its global market for biosimilars and establishing new international partnerships. The company's "buy" rating is maintained with a target price raised from HK$97.75 to HK$99.78. The report pointed out that the company is accelerating its transformation into an innovative biologics leader, with competitive products such as HLX43, HLX22, and serplulimab leading the way. It is expected that there will be multiple catalytic factors at the clinical and regulatory levels by 2026.

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