CICC (China International Capital Corporation): Raises target price of China Biotech (01177.HK) to 7.6 Hong Kong dollars, maintains "outperform" rating.

Intelligent Fortune APP learned that Zhongjin released a research report stating that it maintains unchanged profit forecast for China Biopharmaceuticals (01177.HK) and a rating of "outperform the industry". The current stock price is trading at 29.0/26.1 times the 2025/2026 P/E ratio. Considering the upward trend of sector valuation, the target price is raised by 26.7% to 7.6 Hong Kong dollars, corresponding to 34.6/31.1 times the 2025/2026 P/E ratio, with an implied upside of 19.3%. In the evening of July 15th, the company announced that it will acquire 95.09% of Lixinyiyao with a total consideration of 950.92 million US dollars. China Biopharmaceuticals already holds 4.91% of the shares, and after the completion of the acquisition, Lixinyiyao will become a wholly-owned subsidiary of China Biopharmaceuticals.