UBS: Slightly lowered the target price for Huan Pharmaceutical to HKD 29.5, maintaining a "Buy" rating.

UBS published a research report indicating that CK Life Sciences' revenue in the first half increased by 0.2% year-on-year, roughly in line with the bank's expectations; revenue from the oncology and immunology business grew by 13% year-on-year, exceeding the bank's expectations. The net profit for the period was 15.9 million USD, compared to 455 million USD in the same period last year, primarily due to the recognition of a one-time gain from the sale of the Shanghai pharmaceutical joint venture in the previous year. The bank has pushed back the milestone for AstraZeneca to 2027 and revised its spending forecast, leading to a downward adjustment of the 2026 EPS estimate, while the 2027 forecast has been raised from 6 cents to 8 cents. The bank has lowered the company's target price from HKD 29.7 to HKD 29.5, maintaining a "Buy" rating.