The Zhitong Finance App learned that CICC released a research report stating that maintaining China Biopharmaceutical's (01177.HK) “outperforming the industry” rating and target price of HK$8.90 corresponds to price-earnings ratios of 26.5 times and 23.7 times for 2026 and 2027, respectively, implying 73% upward space. On November 4, the company announced that it had reached a strategic option and licensing agreement with Boehringer Ingelheim (BI), covering 6 pre-clinical ADC and TCE projects. The company will receive a total of US$358 million in down payment and recent payments, and will be eligible to receive a total of US$7 billion in potential milestone payments and up to a double-digit sales commission. The bank believes that this platform-based cooperation further reflects the recognition of the company's early innovative R&D capabilities.

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