External broker reports(aggregated public sources), CMB International

CMB International

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>HCM continued to prove its strong commercial capabilities by achieving remarkable 63% YoY growth in oncology product sales in FY22, reaching US$124.6mn, driven by its three commercial drugs.</li><li>HCM targets to grow the oncology product sales by high double-digit in FY23 while the management expects US$450-550mn consolidated oncology revenue in FY23, including partial recognition of US$400mn upfront payment from Takeda.</li><li>The R&amp;D expenses in FY22 were US$386.9mn (+29% YoY). As of end-2022, HCM had a strong cash position of US$631.0mn. The Company targets to turn profitable in 2025.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

HCM continued to prove its strong commercial capabilities by achieving remarkable 63% YoY growth in oncology product sales in FY22, reaching US$124.6mn, driven by its three commercial drugs.HCM targets to grow the oncology product sales by high double-digit in FY23 while the management expects US$450-550mn consolidated oncology revenue in FY23, including partial recognition of US$400mn upfront payment from Takeda.The R&amp;D expenses in FY22 were US$386.9mn (+29% YoY). As of end-2022, HCM had a strong cash position of US$631.0mn. The Company targets to turn profitable in 2025.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hutchmed (13 HK) – Exploit global market opportunities

Hutchmed China Ltd

Hutchmed (13 HK) – Exploit global market opportunities