Glonghui, May 8 | Rongchang Biotech (9995.HK) rose more than 6% to HK$32.1, with a total market value of HK$17.5 billion. According to the latest report by BOC International, while maintaining Rongchang Biotech's “buy” rating, the target price is HK$56, an increase of about 75% from the current price. As of 1Q24, the cash on the company's account reached 620 million yuan. Currently, there is still a bank credit line of 4 billion yuan, and additional A-share issuance is already on the schedule. The bank expects that subsequent capital injections will be sufficient to guarantee the company's operations to break-even. The company has many catalysts in product commercialization, clinical data reading, mainland supervision and approval, and overseas travel in 2024.
港股异动丨荣昌生物涨超6% 机构看高其目标价至56港元
Changes in Hong Kong stocks 丨 Rongchang Biotech rose more than 6%, institutions are bullish on its target price to HK$56
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