Lyon: Remains optimistic about the development of Stone Pharmaceutical Group, maintaining a "highly confident outperform the market" rating.

Jin10 data reported on May 30 that Lyon published a research report indicating that although the sales of Enbipusi from Shanghai Pharmaceuticals (01093.HK) faced challenges, the first quarter performance still met expectations, with a year-on-year net profit fall of 8.4%. It is believed that Shanghai Pharmaceuticals' profits have bottomed out in the first quarter. In addition to the market's focus on SYS6010, the management also revealed that there are two other products that will achieve potential licensing cooperation, each exceeding $5 billion in scale. Lyon expressed continued optimism about Shanghai Pharmaceuticals' development, believing that its early R&D pipeline is competitive globally and has a differentiated innovative drug platform, maintaining a "highly confident outperform the market" rating for Shanghai Pharmaceuticals, with a target price of HKD 13.8.