China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

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Is Akeso's Sell-Off a Long Waited Opportunity or a Long Overdue Correction?

[Akeso Inc. (9926 HK) Target Price Change]: A Mini-BeiGene in the Making…Reiterate BUY

China/Asia TMT

Shawn Yang

Equity Bottom-Up

<ul>
<li>Amid general disappointment over China’s post-COVID recovery, high beta names like Akeso have sold off in recent days; </li>
<li>Management called for an update which specified on (1) why Ivonescimab (AK112) was absent in ASCO 2023, (2) sales update of Cadonilimab (AK104), (3) NDA and data readout timelines. </li>
<li>We came away positive;  We view management’s confirmation on progress a positive development that enhances certainty. We raise TP by HK$1 to HK$60.</li>
</ul>


Amid general disappointment over China’s post-COVID recovery, high beta names like Akeso have sold off in recent days; 
Management called for an update which specified on (1) why Ivonescimab (AK112) was absent in ASCO 2023, (2) sales update of Cadonilimab (AK104), (3) NDA and data readout timelines. 
We came away positive;  We view management’s confirmation on progress a positive development that enhances certainty. We raise TP by HK$1 to HK$60.


[Akeso Inc. (9926 HK) Target Price Change]: Sell off in High-Beta Names Creates Buying Opportunity

Akeso Biopharma Inc

[Akeso Inc. (9926 HK) Target Price Change]: Sell off in High-Beta Names Creates Buying Opportunity