1276:HKEXJiangsu Hengrui Pharmaceuticals Co.,Ltd Analysis

Jiangsu Hengrui Pharma trades at HK$65.35, well below its 20‑day SMA of 67.24 and far under the 50‑day (70.87) and 200‑day (72.65) averages, signaling a bearish technical backdrop. The MACD is in a bearish configuration and RSI sits at 43, indicating limited upside momentum, while volume is trending higher, suggesting increasing participation in the downtrend. Fundamentally, the company boasts robust 12.7% revenue growth, an impressive 86% gross margin and strong cash generation (HK$40.5 bn cash, HK$8.45 bn free cash flow) with negligible debt, but its price‑earnings multiple of 49.9x far exceeds the industry average of 25.1x and the DCF‑derived fair value of HK$34.38, implying significant overvaluation. The Fear & Greed Index at 68.77 (Greed) reflects market optimism that may be outpacing fundamentals.