Bocom International has increased its target price for Asymchem's H-shares to HK$136.6, while setting the A-share target at RMB 159.2, maintaining a "Buy" rating. Following stronger-than-expected first-quarter results, the investment bank raised its adjusted net profit forecast for Asymchem for the 2026–2028 period by 2% to 14%. Despite challenges from currency fluctuations and a high comparable base in the small molecule segment, the company delivered robust profit growth in the first quarter of 2026, reflecting strong order demand in emerging businesses and improved operational efficiency. The expansion of late-stage orders and proactive investments in high-growth sectors are expected to support sustained long-term growth.
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