The Zhitong Finance App learned that Citibank released a research report saying that Rongchang Biotech (09995)'s revenue in the first half of the year increased by 433% year on year, turning loss into profit and earning 4.66 billion yuan. Management said that the net loss for the first half of the year after excluding BD revenue was about RMB 26 million, and it is expected that after excluding BD revenue, balance of income and expenditure can be achieved in the 2026 fiscal year. The target price was raised from HK$105 to HK$127.7, and the “Buy/High Risk” rating was renewed.

The bank said that the popularization of tetracitumab showed strong quarterly sales growth, and believed that the RC148 deal could reshape the company's growth trajectory. The bank raised the company's revenue forecast for 2026-28 by 3%, 22% and 18%, and raised earnings estimates per share to 8.5 yuan, 2.2 yuan and 2.7 yuan.

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