The Zhitong Finance App learned that BOC International released a research report stating that maintaining the “buy” rating of Rongchang Biotech (09995.HK), drastically raising the 2026 foreign license revenue forecast, raising the 2026 revenue forecast, and lowering the 2027-28 revenue forecast mainly reflects the latest confirmed pace of revenue from external licensing transactions, as well as adjustments to product sales forecasts based on 1-3Q results. Since the profit margin of the foreign licensing business was significantly higher than product sales, the increase in revenue forecasts in this sector directly led to a significant improvement in overall profit expectations. The target price was adjusted to HK$128 based on the DCF model, implying a potential increase of 97%. A rich catalyst is expected to drive valuation restoration in the short term.

The Zhitong Finance App learned that BOC International released a research report stating that maintaining the “buy” rating of Rongchang Biotech (09995.HK), drastically raising the 2026 foreign license revenue forecast, raising the 2026 revenue forecast, and lowering the 2027-28 revenue forecast mainly reflects the latest confirmed pace of revenue from external licensing transactions, as well as adjustments to product sales forecasts based on 1-3Q results. Since the profit margin of the foreign licensing business was significantly higher than product sales, the increase in revenue forecasts in this sector directly led to a significant improvement in overall profit expectations. The target price was adjusted to HK$128 based on the DCF model, implying a potential increase of 97%. A rich catalyst is expected to drive valuation restoration in the short term.