On June 29, Pharmaron (03759.HK) rose 5.72% in regular trading, trading at HK$18.3/share, with turnover of HK$226 million. The gain came amid a broad rally across the CXO (pharmaceutical outsourcing) sector.

On the news front, research data showed that 22 listed CXO companies collectively achieved Q1 revenue, net profit, and adjusted net profit growth of 18.6%, 21.9%, and 63.5% year-over-year respectively, confirming sequential quarterly improvement. Meanwhile, China's innovative drug primary market financing totaled US$2.59 billion in Q1, surging 128.6% year-over-year, while China-related deal value reached US$61.4 billion, significantly outpacing overseas transactions. Institutions noted that as China's share in global drug R&D innovation rises, the supporting CXO supply chain stands to benefit further.

Pharmaron itself reported Q1 revenue of RMB 3.578 billion, up 15.48% year-over-year, with its small-molecule CDMO segment seeing new orders jump over 50%. The BIO2026 conference held June 22-25 also highlighted Chinese CXO firms' efficiency advantages, reinforcing positive sector sentiment.

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