The Zhitong Finance App learned that Citi released a research report stating that it maintained the “buy” rating of Sinopharm Holdings (01099) and slightly raised the target price from HK$20.4 to HK$20.5. The bank pointed out that the company's revenue for the third quarter was generally in line with expectations, and net profit was slightly better than market expectations, mainly due to effective cost control. Strict cost controls offset part of the impact of continued pressure on revenue and gross profit, reflecting the resilient performance of the company.

Sinopharm Holdings' third-quarter revenue was 144.8 billion yuan, roughly the same as the previous year; gross margin narrowed by 4 basis points to 6.8% year over year. The sales expense ratio decreased by 11 basis points year on year, driving the total operating expenses ratio down 10 basis points to 3.6%; net interest rate increased by 5 basis points to 1.3% year on year, supporting a 4% year-on-year increase in net profit to 1.91 billion yuan.

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