Goldman Sachs: Raising Cinda Biotech's (01801) target price to HK$120.6 to maintain “buy” rating

The Zhitong Finance App learned that Goldman Sachs released a research report stating that it raised the target price of Cinda Biotech (01801) from HK$111.68 to HK$120.6 to maintain the “buy” rating. According to Goldman Sachs, Cinda Biotech's net profit in the first half of the year was 1.25 billion yuan, a year-on-year increase of 50%, higher than the bank and market expectations. It mainly benefited from sales and administrative expenses (SG&A) leverage, despite increased R&D expenses. Goldman Sachs updated its earnings forecast for 2026 to 2028 to 1.79 yuan, 3.50 yuan and 4.68 yuan per share to reflect first-half results and fine-tuning operating expenses.