Citic Construction issued a research report on the evening of August 7.$Genscript Biotech Corporation (01548.HK) $The adjusted net profit of the ① acellular therapy business has maintained steady growth of about US $29 million to US $31.8 million, a year-on-year growth rate of 10.3% to 20.9%, according to the 2022 interim report. ② cell therapy business: Legend Biotech Corp is expected to make an adjusted loss of about $145 million to $168 million, mainly from research and development expenses of about $135 million to $158 million. The ③ Group recorded an adjusted loss of approximately $115 million to $137 million during the expected period, compared with an adjusted loss of approximately $135.8 million for the same period in 2021. The bank believes that the rapid development of the CGT industry, all parts of the company's business are highly competitive, is currently in the stage of capacity expansion and capacity expansion, and the performance forecast is in line with expectations.

The bank expects the company's total revenue from 2022 to 2024 to be US $767 million, US $1.058 billion and US $1.576 billion, respectively, with corresponding growth rates of 49.8%, 38.0% and 49.0%, respectively. At the same time, it is expected to turn the company into profits by 2024. Based on business development in 2023, the reasonable market capitalization of the company is about HK $133.9 billion, and the corresponding target price is HK $63.85, maintaining a "buy" rating.