Lyon published a research report saying that Novartis CEO's latest review of the LPhorizon study may attribute the failure of the study to the limited cardiovascular benefits of an advanced reduction in Lp compared to lifelong genetic Lp exposure, which will put pressure on mainland LP participants, including CSPC Group. CSPC Group cooperated with AstraZeneca to develop the oral LP project YS2302018, which is currently in the first phase of clinical phase. According to the bank, news is also circulating in the market about the negative results of the renewal of the national health insurance catalogue of Enbipu, a subsidiary of the CSPC Group. In this regard, the bank has confirmed to the company that the price adjustment is manageable. As for YS2302018, the first phase of the overseas project is still progressing according to plan, and the second phase of proof-of-concept research is ongoing. Lyon believes that Horizon's failure as the first LP results study will not immediately reverse LP predictions. The sharp drop in Shiyao Group's stock price brought attractive market entry opportunities, and reiterated its “high confidence to outperform the market” rating, with a target price of HK$19.

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