Citi recently released a research report stating that CSPC PHARMA (01093) has issued a profit alert. The company expects its net profit for the first half of the year to range between 5.9 billion and 6.2 billion yuan, compared to 2.55 billion yuan in the same period last year.

This implies a year-on-year growth of 131% to 143%, significantly surpassing the market's forecast of 2.5 billion yuan. The bank believes that CSPC PHARMA's performance far exceeded expectations.

As a result, Citi has listed the company as one of its top picks in the pharmaceutical sector and maintained its "Buy" rating along with a price target of HK$11.5.