HK Stock Market Move | Pharmaron Beijing (03759) rises over 3%; net profit attributable to shareholders for the first three quarters up 9.3% year on year; future performance growth of laboratory business highly certain.

Pharmaron Beijing (03759) rose over 3%, up 3.86% as of press time at HK$27.96, with turnover of HK$159 million. On the news front, Pharmaron Beijing recently disclosed its third-quarter results. Huaxi noted that Pharmaron Beijing's third-quarter results slightly beat expectations. The company achieved operating revenue of RMB12.0 billion in 26Q1-3, up 19.0% year on year; net profit attributable to shareholders of RMB1.247 billion, up 9.3% year on year; net profit excluding non-recurring gains and losses of RMB1.181 billion, up 14.2% year on year; and adjusted net profit attributable to shareholders under non-IFRS of RMB1.496 billion, up 21.97% year on year. The bank continued that Pharmaron Beijing's laboratory business achieved revenue of RMB2.59 billion in 26Q3, up 17.5% year on year, continuing the trend of marginal improvement. Considering that new orders signed in 26Q1-3 grew by more than 25%, the future performance growth of the company's laboratory business is highly certain. The CDMO business achieved revenue of RMB1.22 billion in 26Q3, up 30.1% year on year. With the continuous advancement of the company's small-molecule CDMO pipeline, the company expects demand for mid-to-late clinical and commercial projects to maintain strong growth in the future. Considering that new orders signed for the CDMO business grew by more than 40%, it is judged that the company's performance will continue its high-speed growth trend in the coming years.