Damo said that Yao Ming Biotech's 2023 performance was basically in line with expectations.
The Zhitong Finance App learned that Morgan Stanley released a research report stating that it maintains the “gain” rating of Pharmaceutical Biotech (02269), with a target price of HK$63.1. The company's 2023 performance was basically in line with expectations, including adjusted profit of RMB 4.699 billion and revenue of RMB 17 billion, an increase of 11.6%. Excluding COVID factors, revenue increased 37.7% year-on-year. The company guides revenue growth of 5%-10% in 2024, and an 8%-14% year-on-year increase when COVID factors are deducted. Damo believes that it is possible and solid to increase the number of units.