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RTNominal down7.870 -0.230 (-2.840%)
Research Report

03/12/2020 11:12

{I-bank focus}Credit Suisse cuts Sino Biopharm to HK$9.4

[ET Net News Agency, 3 December 2020] Credit Suisse cut its target price for Sino
Biopharmaceutical (01177) to HK$9.4 from HK$10 and retained its "outperform" rating.
The research house said 3Q sees continued impact from GPO (group purchasing
organizations) implementation and COVID-19, with revenue declined by 19.4% and net profit
declined 21.4%.
Although new CEO Mr. Li did not speak on the earnings call, management emphasised three
corporate development directions: (1) innovative R&D; (2) manufacturing efficiency and
quality; and (3) globalisation with enhanced business development (BD). Credit Suisse
lowered its FY2020/21/22 earnings forecasts by 18%/17%/13%. (KL)

Remark: Real time quote last updated: 12/04/2021 12:05
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