The Zhitong Finance App learned that Nomura released a research report saying that it is expected that China Biopharmaceutical (01177)'s profit in the second half of last year will achieve high growth on a low year-on-year basis, and the Group also expects more business development transactions, sale of non-core subsidiaries and new drug listings in the 2024 fiscal year. In addition, Zhongsheng Pharmaceutical's sales forecasts for the 2023 and 2024 fiscal years were lowered by 5.6% and 7.3%, respectively, while profit estimates were lowered by 12.2%, respectively. However, the bank reiterated its “buy” rating and the target price was reduced from HK$6.63 to HK$6.16.