On September 4, INNOCARE rose 5.48% in regular trading, trading at HK$15.55/share, with turnover of HK$156 million. The rally was driven by a confluence of institutional upgrades and robust first-half financial results.

On the institutional front, Goldman Sachs recently raised its target price on INNOCARE to HK$22.71, maintaining a Buy rating, citing core product obutinib's 37% year-over-year sales growth in Q2. Changcheng Guorui Securities and Guojin Securities also issued Buy ratings, with a 90-day consensus target of RMB 36.73.

The company's H1 report revealed revenue of RMB 1.137 billion, up 55.46% YoY, with net profit attributable to shareholders reaching RMB 246 million, a decisive swing to profitability. Q2 standalone net profit surged 392.43% YoY. Drug sales totaled RMB 918 million, up 43.2%, driven by continued obutinib volume growth and initial contributions from newly launched tafasitamab and zurletrectinib. Management expressed confidence in sustained full-year profitability, supported by commercialization revenue and business development deals.

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