HK Stock Market Move | Pharmaron Beijing (03759) rises by over 11% in midday trading, second quarter performance accelerates compared to the first quarter, and order fulfillment speeds up.

Pharmaron Beijing (03759) rose by more than 11% in midday trading, with a cumulative increase of over 70% in the past month. As of press time, it was up 4.32% at 24.62 Hong Kong dollars, with a turnover of 646 million Hong Kong dollars. On the news front, Pharmaron Beijing is expecting a net profit of 729 million to 772 million yuan in the first half of the year, a year-on-year increase of 4% to 10%. According to CCB International, Pharmaron Beijing is expected to see a significant increase in second quarter revenue and adjusted net profit of about 19.4% and 22.3% respectively, with growth accelerating further from the first quarter. The bank pointed out that the adjusted profit still includes the impact of exchange losses, indicating that the company's core operational performance is stronger than reflected in the financial statements, further supporting the management's target of 12% to 18% revenue growth for the year. CCB International noted that after a more than 30% increase in new signed orders in the first quarter, Pharmaron Beijing once again confirmed strong growth in orders for the first half of the year in this profit forecast. The mid-term performance growth will continue to be mainly driven by the CDMO business, benefiting from the increase in the proportion of mid-to-late stage projects and the gradual release of capacity. CCB International stated that this profit forecast overall aligns with and further validates their investment logic.