CLSA Maintains "Outperform" Rating on Hansoh Pharma, Trims Target Price to HK$40

Stock News03-31

CLSA has released a research report indicating that Hansoh Pharma (03692) delivered robust performance in the second half of 2025, surpassing market expectations. Following a change in valuation methodology, the firm reaffirmed its "Outperform" rating on Hansoh Pharma but reduced the target price from HK$43.1 to HK$40, a decrease of 7.2%. The report noted that the company anticipates double-digit growth in both product sales and revenue from collaborative projects. Looking ahead, innovative drug growth and licensing income are expected to remain the primary drivers of the company's growth in 2026. CLSA described the current year as a "harvest year" for the company, with significant data readouts expected from multiple clinical trials and several new drug applications likely to accelerate the conversion of pipeline value into profit potential. The firm has lowered its net profit forecasts for Hansoh Pharma for 2026 to 2028 by 6% to 12%, reflecting an expected stabilization in licensing revenue and increased R&D expenditures as the company initiates more Phase III clinical trials during this period. CLSA projects revenue growth for the company of 14%, 10%, and 14% for 2026, 2027, and 2028, respectively, with net profit growth forecast at 9%, 12%, and 16% for the same years.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1192541176?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-03-31 16:40","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1192541176","market":"fut","top_or_hot":-1,"title":"CLSA Maintains \"Outperform\" Rating on Hansoh Pharma, Trims Target Price to HK$40","media":"Stock News","content":"<p>CLSA has released a research report indicating that Hansoh Pharma (03692) delivered robust performance in the second half of 2025, surpassing market expectations. Following a change in valuation methodology, the firm reaffirmed its \"Outperform\" rating on Hansoh Pharma but reduced the target price from HK$43.1 to HK$40, a decrease of 7.2%. The report noted that the company anticipates double-digit growth in both product sales and revenue from collaborative projects. Looking ahead, innovative drug growth and licensing income are expected to remain the primary drivers of the company's growth in 2026. CLSA described the current year as a \"harvest year\" for the company, with significant data readouts expected from multiple clinical trials and several new drug applications likely to accelerate the conversion of pipeline value into profit potential. The firm has lowered its net profit forecasts for Hansoh Pharma for 2026 to 2028 by 6% to 12%, reflecting an expected stabilization in licensing revenue and increased R&D expenditures as the company initiates more Phase III clinical trials during this period. CLSA projects revenue growth for the company of 14%, 10%, and 14% for 2026, 2027, and 2028, respectively, with net profit growth forecast at 9%, 12%, and 16% for the same years.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CLSA Maintains \"Outperform\" Rating on Hansoh Pharma, Trims Target Price to HK$40</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCLSA Maintains \"Outperform\" Rating on Hansoh Pharma, Trims Target Price to HK$40\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-03-31 16:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>CLSA has released a research report indicating that Hansoh Pharma (03692) delivered robust performance in the second half of 2025, surpassing market expectations. Following a change in valuation methodology, the firm reaffirmed its \"Outperform\" rating on Hansoh Pharma but reduced the target price from HK$43.1 to HK$40, a decrease of 7.2%. The report noted that the company anticipates double-digit growth in both product sales and revenue from collaborative projects. Looking ahead, innovative drug growth and licensing income are expected to remain the primary drivers of the company's growth in 2026. CLSA described the current year as a \"harvest year\" for the company, with significant data readouts expected from multiple clinical trials and several new drug applications likely to accelerate the conversion of pipeline value into profit potential. The firm has lowered its net profit forecasts for Hansoh Pharma for 2026 to 2028 by 6% to 12%, reflecting an expected stabilization in licensing revenue and increased R&D expenditures as the company initiates more Phase III clinical trials during this period. CLSA projects revenue growth for the company of 14%, 10%, and 14% for 2026, 2027, and 2028, respectively, with net profit growth forecast at 9%, 12%, and 16% for the same years.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1583","symbol_name":"高瓴概念","start_time":0,"source_url":"","article_id":"1192541176","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1192541176","pubTimestamp":1774946453,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"CLSA has released a research report indicating that Hansoh Pharma (03692) delivered robust performance in the second half of 2025, surpassing market expectations. Following a change in valuation...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1583":"高瓴概念","EWH":"香港ETF-iShares MSCI","BK1589":"北水核心资产","BK1191":"制药","03692":"翰森制药"},"translate_title":"里昂证券维持翰森制药“跑赢大市”评级，目标价下调至40港元","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EWH":1,"03692":1},"content_text":"CLSA has released a research report indicating that Hansoh Pharma (03692) delivered robust performance in the second half of 2025, surpassing market expectations. Following a change in valuation methodology, the firm reaffirmed its \"Outperform\" rating on Hansoh Pharma but reduced the target price from HK$43.1 to HK$40, a decrease of 7.2%. The report noted that the company anticipates double-digit growth in both product sales and revenue from collaborative projects. Looking ahead, innovative drug growth and licensing income are expected to remain the primary drivers of the company's growth in 2026. CLSA described the current year as a \"harvest year\" for the company, with significant data readouts expected from multiple clinical trials and several new drug applications likely to accelerate the conversion of pipeline value into profit potential. The firm has lowered its net profit forecasts for Hansoh Pharma for 2026 to 2028 by 6% to 12%, reflecting an expected stabilization in licensing revenue and increased R&D expenditures as the company initiates more Phase III clinical trials during this period. CLSA projects revenue growth for the company of 14%, 10%, and 14% for 2026, 2027, and 2028, respectively, with net profit growth forecast at 9%, 12%, and 16% for the same years.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1192541176","isCrawlerRequest":true}