Haixi Pharma's stock surged 5.74% during intraday trading on Tuesday, marking a significant rebound.

The sharp rise follows the company's release of its annual report, which showed revenue of RMB 582 million, a 24.79% year-over-year increase, and net profit attributable to shareholders of RMB 177 million, up 30.09%. Concurrently, Huayuan Securities initiated coverage on the stock with a Buy rating, emphasizing the firm's transition into an integrated generic and innovative pharmaceutical company. The broker highlighted the potential of its innovative drug candidate HXP056, a potentially first-in-class oral treatment for wAMD/DME/RVO, which could unlock substantial mid-to-long term valuation upside given the absence of approved oral treatments for wAMD globally.