Nomura released a research report, lowering the profit forecast for CSPC Pharmaceutical Group (01093.HK) for the next two years by 1.4% each, to reflect the slight upward adjustment of sales expenses forecast, while maintaining the revenue forecast unchanged. The bank expects the revenue growth to slow down in the next quarter, but still rise by 4.5% to 8.39 billion yuan, while the profit is expected to decline by 3% year-on-year.

Nomura lowered the company's target price from 10.07 yuan to 9.83 yuan, while maintaining its 'buy' rating.