Goldman Sachs Lifts Fosun Henlius Target to HK$104.79

Edgen Stock·Mar 23 2026, 09:16

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Key Takeaways

Goldman Sachs raised its price target and profit forecasts for Fosun Henlius on March 23, citing stronger-than-expected financial performance. The bank's bullish outlook is based on significant revenue growth in the second half of 2025, driven by exceptional sales within mainland China.

Goldman Sachs raised its price target for Fosun Henlius to 104.79 HKD from 102.72 HKD, maintaining a "Buy" rating.
The upgrade follows a 29% year-over-year increase in total revenue to 3.8 billion RMB in the second half of 2025.
Sales in mainland China were the primary driver, climbing 31% to 3.2 billion RMB and beating analyst expectations.

Strong H2 Revenue Growth of 29% Prompts Upgrade

Goldman Sachs reaffirmed its "Buy" rating for Fosun Henlius (02696) on March 23, increasing its price target to 104.79 HKD from 102.72 HKD. The bank's decision was driven by the company's robust financial results in the second half of 2025, which surpassed expectations. Goldman Sachs adjusted its sales forecasts upward by 8.6% for the current year and 8.3% for the next. Consequently, net profit projections were increased by 38 million RMB and 224 million RMB for the same periods, respectively, signaling strong confidence in the company's continued profitability.

Mainland China Sales Climb 31% to 3.2 Billion RMB

The company's impressive performance was anchored by its domestic operations. Total revenue in the second half of 2025 expanded 29% year-over-year to reach 3.8 billion RMB. Sales within mainland China provided the bulk of this growth, climbing 31% to 3.2 billion RMB. Overseas revenue contributed 258 million RMB for the full year, with approximately 180 million RMB generated from sales of its HLX02 product in the United States. According to Goldman Sachs, the strong revenue figures, combined with expanding gross margins, led to the significant outperformance in earnings.