The Zhitong Finance App learned that J.P. Morgan Chase released a research report saying that Yao Ming Kangde (02359) had strong quarterly performance and declining geopolitical risks. The bank raised the target price of H shares from HK$222 to HK$233, and the target price of A shares was raised from RMB 200 to RMB 210. The rating is also “increased holdings”, and is still the preferred stock for CXO in China.

Yao Ming Kangde (02359)'s third-quarter revenue rose 38% year on year to 16.64 billion yuan, adjusted net profit increased 61% year over year to 6.81 billion yuan, and revenue from continuing operations increased 43.5% year on year, supporting another increase in the guidance for the full year of this year.

The bank also said that as the project progresses to later development and commercial production, it is believed that Pharmacovigant's revenue visibility will improve, and strong orders will also support next year's growth. AI drug discovery customers will bring additional laboratory demand, and capacity expansion should support delivery, but overseas climbing costs and potential US policy risks still need to be observed.

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