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Real-time News
On January 14th, Goldman Sachs issued a research report giving China Biopharmaceutical (01177.HK) a "Buy" rating with a target price of HK$6.19. This target price is based on a 12-month sum-of-the-parts valuation method, where the innovative drug pipeline is valued at RMB 69.3 billion using a discounted cash flow method, while the generic drug business is valued at RMB 46.8 billion based on a P/E ratio of 12 and a five-year CAGR of 5%. China Biopharmaceutical announced the acquisition of 100% equity in Hergia for a total price of RMB 1.2 billion, with approximately RMB 1.1 billion paid in cash and the remaining RMB 97 million to be paid in installments through new shares. Hergia is a clinical-stage biotechnology company focusing on siRNA technology, currently possessing four clinical-stage projects targeting Lp(a), ApoC3, THRbeta, and HBV, and more than 10 preclinical candidate products. This is the third acquisition by China Biopharmaceutical in two years. Goldman Sachs believes that as siRNA technology gradually becomes an important innovative model for the treatment of chronic diseases, this acquisition will strengthen China Biopharmaceuticals R&D pipeline in the fields of cardiovascular, metabolic and liver diseases, and create synergies with its existing products.According to the General Administration of Customs, China imported 9,951.6 tons of rare earths in December, compared with 5,221 tons in November.According to the General Administration of Customs, China imported 101,062 tons of rare earths from January to December.According to the General Administration of Customs, China imported 13.448 million tons of natural gas in December, compared with 11.947 million tons in November.According to the General Administration of Customs, China imported 127.865 million tons of natural gas from January to December.
