Company Coverage
Hansoh Pharmaceutical Group Company (3692 HK): 1H26: Results Beat; Expects To Launch Five New Products In 2027
BUY (Maintained)
Current price:
Target price:
Upside:
HK$31.74
HK$45.00
41.8%
Analyst
Analyst
Highlights
- Driven by strong revenue growth of innovative products, Hansoh Pharma’s 1H26 revenue rose 11.7% yoy to Rmb8.30b and net profit grew 35.8% yoy to Rmb4.26b. The robust earnings growth was significantly ahead of market estimate.
- Management keeps its double-digit revenue growth target for 2026 unchanged and indicates the new wave of new product launches will support robust revenue growth of the company from 2027 onwards.
Maintain BUY and target price of HK$45.00.

Analysis
1H26 results beat. Hansoh Pharmaceutical Group Company's (Hansoh Pharma) revenue grew 11.7% yoy to Rmb8.30b and net profit rose 35.8% yoy to Rmb4.26b in 1H26, with basic EPS up 33.1% yoy to Rmb0.70. The company declared an interim dividend of 28.50 HK cents/share (up 23.1% yoy), representing a 35.3% payout ratio.

Highlights
- Driven by strong revenue growth of innovative products, Hansoh Pharma’s 1H26 revenue rose 11.7% yoy to Rmb8.30b and net profit grew 35.8% yoy to Rmb4.26b. The robust earnings growth was significantly ahead of market estimate.
- Management keeps its double-digit revenue growth target for 2026 unchanged and indicates the new wave of new product launches will support robust revenue growth of the company from 2027 onwards.
Maintain BUY and target price of HK$45.00.

Analysis
1H26 results beat. Hansoh Pharmaceutical Group Company's (Hansoh Pharma) revenue grew 11.7% yoy to Rmb8.30b and net profit rose 35.8% yoy to Rmb4.26b in 1H26, with basic EPS up 33.1% yoy to Rmb0.70. The company declared an interim dividend of 28.50 HK cents/share (up 23.1% yoy), representing a 35.3% payout ratio.

BUY (Maintained)
Current price:
Target price:
Upside:
HK$31.74
HK$45.00
41.8%
Analyst
Analyst
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