The Zhitong Finance App learned that CICC released a research report stating that while maintaining the “outperforming industry” rating of Xiansheng Pharmaceutical (02096), the core profit forecast for 2024/25 remains unchanged, with a target price of HK$7.7. The company announced its 2023 results: revenue of 6.61 billion yuan, +4.5% year on year; net profit to mother of 715 million yuan, -23.2% year over year (mainly due to changes in fair value of financial assets held); the bank estimated core net profit of 700 million yuan, +3.6% year over year. Revenue and core net profit are in line with the bank's expectations.

According to the report, since 2023, the company introduced Enritol (the 1Q23 CRC marketing application was accepted by the State Drug Administration, and the company is expected to become the first cetuximab EGFR monoclonal to be marketed in China, with a peak sales value of 15-20 billion yuan), ADC189 (an anti-influenza drug with BIC potential, the company expects to submit a marketing application in 2024), and ledecibimab (specific dermatitis clinical trials have been completed). The marketing application for Enzeshu (sulvicitamab) was accepted in February 2024. The company expects Dali Thunder (insomnia medicine) to submit a marketing application in 3Q24. The high-potential molecule SIM 0500 (targeting GPRC5D/BCMA/CD3, multiple myeloma) received FDA clinical approval. The company expects to receive approval for Enritol (1L metastatic colorectal cancer), senoxin (routine COVID-19 approval), and Xianbishin sublingual tablets (acute cerebral infarction) within 2024, and is expected to approve 5 innovative drugs in the next 2 years. Furthermore, in February 2024, the company announced that Xiansheng Zaiming, a subsidiary focusing on the oncology business, had completed 970 million yuan in financing and introduced external investors such as SDIC Investment Promotion.