BofA Securities has released a research report indicating that CSPC PHARMA (01093) saw its total revenue and attributable net profit surge by 40.1% and 139.2% year-on-year, respectively, reaching RMB 18.6 billion and RMB 6.1 billion in the first half of the year.

For the second quarter alone, total revenue climbed 93.8% year-on-year to RMB 12.1 billion, while attributable net profit jumped 389.3% to RMB 5.2 billion.

The firm has raised its net profit estimates for CSPC PHARMA for the 2026 to 2028 period by 1.9%, 2.6%, and 1.6%, respectively, and lifted the target price from HK$7.6 to HK$8.6.

However, due to pricing pressures on the key drug NBP (恩必普), BofA Securities has reiterated its "Underperform" rating on the stock.