The Zhitong Finance App learned that Citi released a research report stating that it will raise Kangfang Biotech's (09926) 2024 and 2025 revenue forecasts by 10% and 6%, respectively, to reflect the latest sales trends. They are also optimistic about the AK112-303 data and commercialization prospects to be released in the next quarter. The target price was raised from HK$56 to HK$64, maintaining a “buy” rating. The company's revenue for fiscal year 2023 was 4.5 billion yuan, up 440% year over year, including cadonilimab sales of 1,358 million yuan, sales of other products of 246 million yuan, and advance payments of 2.9 billion yuan; net profit was 1.94 billion yuan.