The Zhitong Finance App learned that Yao Ming United (02268) is now up more than 6%. As of press release, it has risen 5.63% to HK$15.76, with a turnover of HK$37.474 million.

Huachuang Securities pointed out that oncology immunotherapy (IO) has become the cornerstone of the field of oncology. It has been approved for the treatment of more than 20 types of cancer, and the global annual sales volume exceeds 40 billion US dollars. IO+ADC has become the main line of tumor immunity in the next 5-10 years; nearly half of the current IO therapies may be upgraded from IO+ chemotherapy to IO+ADC, and the relevant indication market is expected to expand by 100-200%; China's ADC has entered the world's first tier and will occupy an important position in the IO+ADC wave and achieve international value.

According to Minsheng Securities, Pharmaceutical Federation is the world's leading one-stop ADC CRDMO leader. Benefiting from the booming development of the ADC industry, downstream customers maintained strong demand for XDCCRDMO outsourcing. The company's performance achieved 114% revenue growth and 112% adjusted net profit growth in 2023. The number of comprehensive projects increased to 143, and the business growth momentum continued until Q1 of 2024. In addition, the company started construction of its Singapore production base to reserve production capacity for commercial projects serving overseas customers.