On August 25, PHARMARON rose 3.1% in regular trading, trading at HK$31.82/share, with turnover of HK$156 million. The CXO sector rallied broadly, with WUXI XDC up 12.61%, INSILICO up 10.1%, and GENSCRIPT BIO up 7.66%.

On the news front, multiple international investment banks concentrated their upgrades after the company released its interim results. Daiwa raised its target price to HK$38.5, BofA to HK$38.4, Morgan Stanley to HK$35.6, and Goldman Sachs to HK$33.2, all maintaining Buy or Overweight ratings. The upgrades were driven by strong first-half performance showing revenue of RMB 7.595 billion, up 17.9% year-over-year, with CDMO revenue surging 32.8%. New orders grew over 30%, and CDMO new orders grew over 50%. Management subsequently raised full-year revenue growth guidance from 12%-18% to 15%-20%, citing continued strong customer demand through July and August.

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