GTHT Securities has released a research report initiating coverage on KEYMED BIO-B (02162). The firm has assigned a Buy rating to the company's shares.

The valuation was conducted using a Discounted Cash Flow (DCF) absolute valuation method, resulting in a target price of RMB 120.85. Converting this at an exchange rate of 1 Hong Kong dollar to RMB 0.87 gives an equivalent target price of HK$138.91.

The report forecasts the company's revenue for the years 2026 to 2028 to be RMB 3.090 billion, RMB 2.156 billion, and RMB 3.085 billion, respectively. The significant revenue increase projected for 2026 is primarily attributed to an upfront payment of US$257 million that KEYMED BIO is expected to receive as a shareholder of Ouro.

For the same period, GTHT Securities predicts the company's net profit attributable to shareholders will be RMB 1.105 billion in 2026, followed by a loss of RMB 63 million in 2027, and a return to profit of RMB 364 million in 2028.