China Resources Pharmaceutical Group Ltd Registered Shs Unitary 144A/Reg S

03320: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$8.60	Ktgpyk	Gkxhtjx

CR Pharma Earnings: Mixed Segment Results; Shares Fairly Valued

Yurou Zheng

Aug 30, 2024

Narrow-moat CR Pharma's interim revenue growth is slower than expected, but offset by a higher gross margin due to product mix. We tweak our 2024 annual assumptions accordingly while keeping our long-term outlook unchanged. Our fair value estimate remains at HKD 5.80 per share. We think the share price is fairly valued.

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