HUTCHMED (China) (13 HK): 1H25: Divestment of non-core asset boosts ea...

1H25 revenue missed forecasts, but its robust earnings of US$455.6m beat market estimates. It targets lower oncology revenue of US$270m-350m on delays in milestone income and setbacks in Sovleplenib’s review progress, and expects domestic sales to recover from 2H25. Seeing smooth R&D progress and market approvals in major oncology products, HUTCHMED will likely see a new wave of market approvals to fuel growth in the years ahead. Maintain BUY with a lower target price of HK$32.50.

Regional Morning Meeting Notes: Friday, August 8, 2025

GREATER CHINA Economics Trade: July’s data beats expectations, further near-term strength likely. Sector Automobile: Weekly: YOY PV sales growth remains negative for three straight weeks. Maintain MARKET WEIGHT on the sector. Top BUYs: CATL, Geely and Tuopu. Initiate Coverage Zhejiang Sanhua Intelligent Controls Co (002050 CH/BUY/Rmb27.37/Target: Rmb36.50): Innovative Thermal management leader driving sustainable growth. Initiate coverage with BUY. Target price: Rmb36.50 for A-share, HK$40.00 fo...

Greater China Daily: Friday, August 8, 2025

Economics Trade July exports grew 7.2% yoy (+1.4ppts), with continued strength in exports to the ASEAN and EU markets. Import growth improved to 4.1% yoy (+3ppt), likely due to a lower base, and support from strong imports of integrated circuits and agricultural products. However, imports of some key commodities saw sharp declines. The Sino-US agreement on another 90-day trade truce may continue to support near-term trade activities. Sector Automobile China’s PV insurance registrations reboun...

China Healthcare Bi-Weekly: Expecting strong 1H25 results. Maintain OV...

All the healthcare stocks under our coverage exhibited a positive performance from 16-30 July. Due to expectations of strong results for 1H25, CRDMO companies were the top performers, with share prices surging by 22-34%. Supported by major BD/M&A deals, MicroPort, Sino Biopharm and Hengui Medicines also saw their stock prices rise significantly by 65.3%, 16.8% and 13.0%, respectively.

Regional Morning Meeting Notes: Thursday, July 31, 2025

GREATER CHINA Sector Healthcare Bi-Weekly: Expecting strong 1H25 results. Maintain OVERWEIGHT. Results Contemporary Amperex Technology (300750 CH/BUY/Rmb277.09 /Target: Rmb390.00) 2Q25: Earnings in line, with margins hitting record-high levels. Maintain A-share at BUY. Downgrade H-share to HOLD. New Oriental Education & Technology Group (EDU US/BUY/US$44.37/Target: US$55.00) ...

Hitting the right spots

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 07/29/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 29/07/2025

AstraZeneca : Q2 2025 driven by the oncology franchise

AstraZeneca : Un T2 2025 tiré par sa franchise oncologie

Solid Q2 with beats in the right places

Healthy Q2 despite headwinds

China Healthcare Bi-weekly: Gaining strength on robust earnings outloo...

The performance of China's biotechnology sector has remained strong as the market expects biopharmas and CRDMO companies to report robust earnings growth in 1H25, supported by the continued strengthening of the biopharmaceutical pipeline and increasing BD and M&A activities. Moreover, the commercial insurance policy will further support the sector’s rally. Maintain OVERWEIGHT.

Regional Morning Meeting Notes: Wednesday, July 16, 2025

GREATER CHINA Economics Economic Activity Resilient 1H25 growth of 5.3% yoy belies rising downside pressure. Sector Healthcare Weekly: Gaining strength on robust earnings outlook and pipeline growth. Maintain OVERWEIGHT. Property Property sales and prices weakened further in J...

China Healthcare: Entering a new phase of accelerated growth. Upgrade ...

China's biotechnology sector has entered an accelerated growth phase, with firms expanding their innovative commercial product portfolios, achieving significant outlicensing deals and enjoying unexpected profitability. With an unprecedented showing of 74 oral presentations at ASCO 2025, the sector highlighted its robust pipeline and expanding role in global innovation. Sustained policy support and globalisation efforts will further support this expansion. Upgrade to OVERWEIGHT with Innovent, Han...

Regional Morning Meeting Notes: Thursday, June 19, 2025

GREATER CHINA Sector Healthcare Entering a new phase of accelerated growth. Upgrade to OVERWEIGHT. Internet 618 Festival – Evolving consumer trends and continued focus on value for money. Small/Mid Cap Highlights JBM Healthcare (2161 HK/BUY/HK$2.85/Target: HK$3.31) Takeaways from luncheon. INDONESIA Update Kalbe Farma (KL...

China Healthcare: Entering a new phase of accelerated growth. Upgraded...

China's biotechnology sector has entered an accelerated growth phase, with firms expanding their innovative commercial product portfolios, achieving significant outlicensing deals and enjoying unexpected profitability. Moreover, Chinese biotech firms had an unprecedented showing at ASCO 2025, with 74 oral presentations highlighting their robust pipelines and the sector's strong growth trajectory. Sustained policy support and globalisation efforts will further support this expansion. Upgrade to O...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 06/18/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 18/06/2025

ODDO : Revamp of television advertising for drugs in US