The Zhitong Finance App learned that Lyon released a research report stating that it reaffirmed Yao Ming Kangde (02359)'s “outperforming the market” rating, with a target price of HK$262. The bank pointed out that the company's third-quarter results were in line with expectations. Continuing business revenue increased 43% year on year, net profit increased 136% year on year, and adjusted non-IFRS net profit increased 61% year on year. In the first nine months of this year, the company's total order backlog increased 36% year over year, becoming a major highlight that exceeded market expectations.

Management raised the 2026 continuing business revenue growth guide from 35% to 39% to 40% to 42%. Lyon also raised Pharmacovich's 2026-2028 revenue forecast by 2% to 5%. The revenue for each year is expected to increase by 51%, 32%, and 20% year-on-year, respectively, and raise the net profit forecast by 5% to 10%.

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