Cailian Press will regularly compile ratings and target prices from various institutions for Hong Kong stocks.
Cailian Press, March 5 (Edited by Tong Gu) Below are the latest ratings and target prices for Hong Kong stocks from various institutions:
CICC: Maintain BeiGene's Outperform Industry rating.
CICC issued a research report on BeiGene (06160.HK), stating that the company’s sales of Zanubrutinib will reach $3.9 billion in 2025, a year-on-year increase of 49%, with global sales of Tislelizumab reaching $740 million, a year-on-year increase of 19%. GAAP net profit achieved its first quarterly profitability; in 2026, multiple major catalysts are expected to be realized, including U.S. approval of Sotorasib for R/R MCL indication, potential accelerated approval of BTK CDAC, initiation of Phase III clinical trials for CDK4, etc., demonstrating continuous validation of pipeline progress and commercialization capabilities.
CITIC Securities: Maintain Oriental Selection's Buy rating.
CITIC Securities issued a research report on Oriental Selection (01797.HK), stating that the company’s FY26H1 revenue increased by 5.7% year-on-year, with net profit turning from loss to profit. The proportion of self-operated product GMV increased to 52.8%, with SKU reaching 801. APP contributed 18.5% of total GMV. Management structure stabilized, and the arrival of the Chief Executive Officer promoted organizational changes. Generative AI is permeating the entire chain of product selection, content creation, and sales. The self-operated business model has been validated, and multi-platform synergy is entering the harvest phase.
CITIC Securities: Maintain Buy Rating for Trip.Com Group-S
CITIC Securities issued a research report on Trip.Com Group-S (09961.HK), stating that the company’s Q4 2025 revenue increased by 20.8% year-on-year, slightly exceeding expectations. International OTA platform Trip.com’s annual bookings increased by 60%. The company served 20 million inbound tourists and connected more than 150,000 hotels. The inbound tourism strategy has been pushed forward in depth. 'Performance + Tourism' and silver economy businesses have achieved triple-digit growth. The 'Old Friends Club' Q4 GMV increased by 100% year-on-year. AI empowerment and globalization are driving long-term growth as dual engines.
CITIC Securities: Maintain Samsonite's Buy rating.
CITIC Securities issued a research report on Samsonite (01910.HK), stating that the company plans to pursue a dual primary listing in the United States in the first half of 2026. IATA predicts that global air passenger traffic will grow by 4.9% in 2026, supporting steady revenue growth driven by travel demand recovery. The current Hong Kong stock valuation stands at 11x PE, significantly lower than the comparable U.S. companies’ 17x and the company’s historical average of 21x. Dual listing is expected to improve liquidity and catalyze valuation recovery.
CITIC Securities: Maintain Insilico Medicine's Buy rating.
CITIC Securities issued a research report on Insilico Medicine (03696.HK), stating that the company leverages its Pharma.AI end-to-end AI platform and the multi-center collaboration advantage between Abu Dhabi, Boston, and Shanghai to achieve high-value pipeline licensing cooperation with Exelixis and Menarini. Core pipeline ISM001-055 demonstrates excellent clinical potential. The AI pharmaceutical industry is expected to reach a critical validation point in 2026, with the company’s commercialization capabilities and platform moat continuously being realized.
Huachuang Securities: Reiterates Buy Rating for Oriental Selection
Huachuang Securities issued a research report on Oriental Selection (01797.HK), stating that the company's FY26H1 revenue reached RMB 2.31 billion, a year-on-year increase of 5.7%, or 17.0% excluding the impact of Hui同行, with net profit turning positive at RMB 239 million. Self-operated product revenue increased by 18.1%, accounting for 52.8% of total GMV, while APP GMV stabilized at 28.6%. Offline vending machines turned profitable, and the Beijing flagship store is set to open soon, demonstrating significant synergies across multiple channels.
Guosheng Securities: Reiterates Buy Rating for H&H International Holdings
Guosheng Securities issued a research report on H&H International Holdings (01112.HK), noting that the company's market share in mainland China for ANC products increased again in 2025, with robust double-digit growth in expanding markets. Revenue from BNC infant formula also grew strongly in the double digits, far exceeding industry growth rates, while PNC pet nutrition grew at a high single-digit rate. Optimized interest expenses boosted profits, and the synergy of BNC market share gains along with accelerated ANC/PNC growth is expected to drive both performance and valuation upwards.
Guohai Securities: Reiterates Buy Rating for Geely Auto
Guohai Securities issued a research report on Geely Auto (00175.HK), indicating that cumulative sales from January to February 2026 reached 476,000 units, a year-on-year increase of 1.0%, with Zeekr/Lynk & Co sales growing by 83.7%/18.9% respectively. Exports totaled 121,000 units, up 129.4% year-on-year. The launch of new models such as Galaxy M7 and Zeekr 8X, supported by the GEA architecture, marks a new era of products. Clear growth drivers in electrification, intelligence, premiumization, and globalization suggest significant earnings elasticity.
Xingye Securities: Reiterates Buy Rating for JNBY
Xingye Securities released a research report on JNBY (03306.HK), stating that the company's FY26H1 revenue increased by 7.0%, with net profit attributable to shareholders rising by 12.5%. Online revenue surged by 25.1%, and LESS women’s wear revenue grew by 16.3%. Gross margin improved by 1.4 percentage points to 66.5%, while operating margin increased by 1.3 percentage points to 27.5%. Active membership reached 596,000, with high-value members contributing 60% of offline retail sales. The brand’s overseas expansion plan has been launched, with design-driven innovation and strong fan loyalty building long-term resilience.
Shenwan Hongyuan: Reiterates Buy rating for Nine Dragons Paper
Shenwan Hongyuan issued a research report on Nine Dragons Paper (02689.HK), highlighting that the company's FY26H1 net profit surged by 225.1%, with net profit per ton increasing by RMB 119/ton. Wood pulp production reached 2.3 million tons, up 77% year-on-year, reflecting the benefits of integrated pulp-paper operations. Prices for white cardboard rose 20% quarter-on-quarter, while cultural paper prices rebounded from their lows. The supply-demand dynamics for corrugated cardboard continue to improve, with a turning point in capital expenditures observed. Free cash flow is expected to turn positive, strengthening shareholder returns.
