Medley (4480): FY12/26 beat likely to be confirmed at 2Q results

Research evidence excerpt

Medley (4480): FY12/26 beat likely to be confirmed at 2Q results

APR - Healthcare Coverage Cluster

Investment rating Company BofA Ticker Bloomberg symbol Analyst

Sumitomo Pharma DNPUF 4506 JP Koichi Mamegano

Topchoice Medical XZDXF 600763 CH Ethan Cui

WuXi Biologics WXIBF 2269 HK David Li

Zai Lab ZLAB ZLAB US David Li

Zai Lab XCDZF 9688 HK David Li

Zydus Lifesciences XMQLF ZYDUSLIF IN Neha Manpuria

UNDERPERFORM

Ain Holdings AINPF 9627 JP Ritsuo Watanabe

Autobio Diagnostics Co Ltd XQDXF 603658 CH Sandra Sun

Baiyunshan XOUFF 600332 CH Sandra Sun

Beijing Wantai Biological Pharmacy XBHIF 603392 CH David Li

CSPC Pharmaceutical CHJTF 1093 HK Ethan Cui

EBOS Group Limited EBOSF EBO NZ Lyanne Harrison

EBOS Group Limited XEBOF EBO AU Lyanne Harrison

Eisai ESALF 4523 JP Koichi Mamegano

Frontage FGHQF 1521 HK David Li

Healius Limited PHCRF HLS AU Lyanne Harrison

Joinn Lab XQTSF 6127 HK David Li

Joinn Lab JOLCF 603127 CH David Li

Kyowa Kirin KYKOF 4151 JP Koichi Mamegano

Lupin XEFSF LPC IN Neha Manpuria

Mankind Pharma XDXZF MANKIND IN Neha Manpuria

Medipal Holdings MEPDF 7459 JP Ritsuo Watanabe

Olympus Corp. OCPNF 7733 JP Ritsuo Watanabe

Ovctek XOCKF 300595 CH David Li

Pharmaron XLYGF 300759 CH David Li

Pien Tze Huang XUVHF 600436 CH Sandra Sun

Shanghai Pharmaceuticals XKCRF 601607 CH David Li

SMS SMSZF 2175 JP Ritsuo Watanabe

Sun Pharma XPUCF SUNP IN Neha Manpuria

TigerMed XHTHF 300347 CH David Li

Yifeng Pharmacy XYHCF 603939 CH Ethan Cui

Zhifei XCHOF 300122 CH David Li

iQmethod SM Measures Definitions

Business Performance Numerator Denominator

Return On Capital Employed NOPAT = (EBIT + Interest Income) × (1 − Tax Rate) + Goodwill Amortization Total Assets − Current Liabilities + ST Debt + Accumulated Goodwill

Amortization

Return On Equity Net Income Shareholders’ Equity