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01093 CSPC PHARMA
RTNominal down14.860 -0.440 (-2.876%)
Research Report

08/04/2020 15:29

Guotai Junan trims CSPC Pharma (01093) to HK$22.5

[ET Net News Agency, 8 April 2020] Guotai Junan International lowered its target price
for CSPC Pharmaceutical Group (01093) to HK$22.5 from HK$24.9 and maintained its "buy"
rating.
The research house said CSPC's 2019 results were broadly in line with Guotai Junan's
expectation. Due to the outbreak of COVID-19, medical demand was depressed, and thus the
number of prescriptions dropped in China. As the outbreak was effectively controlled in
China, Guotai Junan expects that CSPC's marketing and R&D will return to normal starting
from 2Q.
Looking ahead to 2020, Guotai Junan believes that the bottom-line growth of CSPC could
still approach nearly 20%, with consideration to the robust growth momentum of its
existing products and a rich and productive pipeline serving as new engines. (KL)

Remark: Real time quote last updated: 25/09/2020 17:59
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