CLSA has released a research report highlighting that REMEGEN (09995) delivered a remarkable 808.6% year-on-year sales growth in the second quarter of 2026, reaching a net profit of RMB 4.334 billion. Both metrics surpassed market consensus, fueled by robust sales momentum from RC18 and revenue contributions from the RC148 out-licensing deal. Management has maintained its guidance for achieving operational breakeven for the full year of 2026.

Overseas development for RC148, RC18, and RC48 remains on schedule, according to the company. In light of the latest performance, the brokerage has revised its forecasts, raising the FY2026 sales projection by 52.6% while trimming FY2027 and FY2028 estimates by 23.8% and 12.1%, respectively. Net profit projections for FY2026 were lifted by 136.8%, with downward adjustments of 65.1% for FY2027 and 25.2% for FY2028.

Consequently, CLSA has increased its price target on REMEGEN from HK$136.9 to HK$144.8, while reaffirming an "Outperform" rating on the stock.