Company Coverage
Sino Biopharmaceutical (1177 HK): 1H26: Results In Line; Innovative Products Continue To Drive Growth
BUY (Maintained)
Current price:
Target price:
Upside:
HK$4.79
HK$7.20
+50.31%
Analyst
Analyst
Highlights
Sino Biopharm reported satisfactory 1H26 results, with revenue up 10.6% yoy to Rmb19.44b; underlying net profit was Rmb3.34b, up 8.1% yoy, or 92.3% yoy if excluding the Sinovac LS dividend received in 1H25.
Embracing AI, the company has achieved breakthroughs in its AI-driven drug discovery and significantly enhanced operating efficiency. Maintaining its double-digit 2026 revenue growth target, it expects innovative drugs sales and out-licensing income to further boost earnings in 2026.
Maintain BUY and target price of HK$7.20.
Analysis
1H26 results satisfactory. Sino Biopharmaceutical (Sino Biopharm, or SBP Group) reported 1H26 revenue of Rmb19.44b, up 10.6% yoy, of which Rmb975m came from out-licensing (1H25: Rmb44m). Adjusted net profit rose 8.1% yoy to Rmb3.34b, or 92.3% yoy if excluding the Sinovac LS dividend received in 1H25. The interim dividend was raised 40% yoy to 7 HK cents per share.
Highlights
Sino Biopharm reported satisfactory 1H26 results, with revenue up 10.6% yoy to Rmb19.44b; underlying net profit was Rmb3.34b, up 8.1% yoy, or 92.3% yoy if excluding the Sinovac LS dividend received in 1H25.
Embracing AI, the company has achieved breakthroughs in its AI-driven drug discovery and significantly enhanced operating efficiency. Maintaining its double-digit 2026 revenue growth target, it expects innovative drugs sales and out-licensing income to further boost earnings in 2026.
Maintain BUY and target price of HK$7.20.
Analysis
1H26 results satisfactory. Sino Biopharmaceutical (Sino Biopharm, or SBP Group) reported 1H26 revenue of Rmb19.44b, up 10.6% yoy, of which Rmb975m came from out-licensing (1H25: Rmb44m). Adjusted net profit rose 8.1% yoy to Rmb3.34b, or 92.3% yoy if excluding the Sinovac LS dividend received in 1H25. The interim dividend was raised 40% yoy to 7 HK cents per share.
BUY (Maintained)
Current price:
Target price:
Upside:
HK$4.79
HK$7.20
+50.31%
Analyst
Analyst
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