The Zhitong Finance App learned that Bank of America Securities released a research report stating that it lowered the target price of China Resources Pharmaceuticals (03320) from HK$5.9 to HK$5.7, reaffirming the “buy” rating. The bank said China Resources Pharmaceuticals had stable performance in the first half of the year, with revenue up 2% year-on-year, gross profit rising slightly by 0.1% year-on-year, gross margin falling 0.3 percentage points year-on-year to 16%, and net profit increasing 5.3% year-on-year. Based on China Resources Pharma's performance in the first half of the year, the bank adjusted the revenue forecast for each business, lowered the company's revenue forecast for 2026 to 2028 by 4%, 4% and 5%, while increasing the administrative expenditure ratio forecast by 0.1 percentage points from 2026 due to business expansion. Overall, the bank lowered its profit forecast for 2026 to 2028 by 6%, 7%, and 7%, respectively.

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