On August 4, PHARMARON rose 6.7% in regular trading, trading at 24.66 HKD/share, with turnover of 76.47 million HKD. The gain came amid a broad-based rally across the CXO sector, with peers WUXI APPTEC surging 13.08%, GENSCRIPT BIO up 7.91%, and WUXI XDC up 7.09%.

The rally is underpinned by the CXO industry entering a mid-year earnings delivery period. PHARMARON previously disclosed H1 results guidance projecting revenue of 7.47-7.67 billion yuan, representing 16%-19% year-over-year growth, while new order signings grew over 30% year-over-year, with small molecule CDMO orders surging over 50%. Global innovative drug primary market financing reached 26.75 billion USD in H1, up 58.5% year-over-year, providing sustained demand tailwinds for the contract research and manufacturing sector.

Daiwa recently initiated coverage on PHARMARON H-shares with a Buy rating and a target price of 25.5 HKD, citing robust laboratory services growth and CMC commercialization as key drivers through 2028.

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