CICC Maintains "Outperform Industry" Rating on Giant Biogene, Adjusts Target Price to HK$40

Stock News06-22

CICC has released a research report reiterating its "Outperform Industry" rating for Giant Biogene (02367). The firm has revised the target price downward by 18% to HK$40, citing pressure on the overall valuation benchmark for the Hong Kong stock consumer sector.

The bank has kept its profit forecasts for Giant Biogene for the years 2026 and 2027 unchanged. At the current share price, the projected price-to-earnings ratios for 2026 and 2027 stand at 12 times and 11 times, respectively.

The report highlights that Giant Biogene's "Cross-linked Recombinant Collagen Filler," a Class III medical device, has received approval. This product is the world's first cross-linked, full-length recombinant Type III collagen filler approved for treating neck lines, giving it a distinct competitive edge.

Furthermore, the company's first approved medical aesthetics product was officially launched on June 9. Concurrently, its cosmetics business is showing signs of accelerated growth momentum. The report expresses optimism regarding the improving fundamentals of the company and suggests investors consider potential opportunities for strategic positioning at current levels.

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