Glonghui, March 13 | BOC International released a report saying that Kingsley Biotech's revenue last year was resilient, and profit margins exceeded expectations. Last year, the company's revenue was US$840 million, up 34.2% year on year; adjusted net loss narrowed to 298 million; overall gross profit margin was 48.8%, mainly due to the rapid increase in gross margin in the cell therapy sector. As overseas financing gradually picked up in the first quarter, BoboBio completed team optimization, and accelerated overseas market development, the bank expects the CDMO business to improve throughout the year, and there is a high possibility that it will surpass the company's guidelines. Based on a higher operating margin assumption, the bank expects net loss forecast to decrease by 4% in 2024 and increase net profit from $940 million to $1.48 billion. At the same time, it first introduced a profit forecast of 2026, with estimated revenue of US$2.16 billion and net profit of US$174 million. All four major business segments achieved profits. The bank raised its target price to HK$27.6, with a rating of “buy”.