Kingsley Biotech (01548) fell by more than 7%. As of press release, it was down 7.53% to HK$15.48, with a turnover of HK$332 million.
The Zhitong Finance App learned that Kingsley Biotech (01548) fell by more than 7%. As of press release, it was down 7.53% to HK$15.48, with a turnover of HK$332 million.
According to the news, Kingsley Biotech previously announced its 2023 results, with revenue of US$840 million, an increase of 34.2% over the previous year; shareholders should have accounted for a loss of 954.77 million US dollars, a year-on-year decrease of 57.91%. Guotai Junan said that the company's non-cellular therapy business contributed to a steady increase in net profit, and CAR-T products were rapidly launched in Europe and the US. However, considering the impact of investment and financing changes on the CDMO business and the impact on CAR-T production capacity, the bank lowered its main business revenue forecast for 24 and 25 to US$1,251 billion to US$1,751 billion, adding US$2,756 billion in revenue for 26 years.
Furthermore, CICC recently pointed out that considering CDMO's short-term demand growth and pressure on profitability, the 2024 profit forecast was lowered to a net loss of US$197 million (previously a loss of US$167 million), while introducing a 2025 profit forecast net loss of US$90 million. Due to recent systemic adjustments in the pharmaceutical sector of Hong Kong stocks, the target price was lowered by 25.1% to HK$23.