External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>For 3Q25, GC Biopharma posted revenue of W609.5bn (+31.1% YoY), beating the consensus (W520.2bn). Top-line growth was driven by: 1) higher sales of Paxlovid (COVID-19 treatment); and 2) increased revenue from subsidiaries ABO Holdings and GC Biopharma USA (with the latter recognizing US$26mn in Alyglo sales).</li><li>Meanwhile, operating profit came in at W29.2bn (-26.2% YoY), in line with the consensus (W29.3bn).</li><li>The cost ratio climbed 7.4%p YoY, reflecting changes in the flu vaccine market (shift from quadrivalent to trivalent formulations) and the impact of in-licensed products (Paxlovid).</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

For 3Q25, GC Biopharma posted revenue of W609.5bn (+31.1% YoY), beating the consensus (W520.2bn). Top-line growth was driven by: 1) higher sales of Paxlovid (COVID-19 treatment); and 2) increased revenue from subsidiaries ABO Holdings and GC Biopharma USA (with the latter recognizing US$26mn in Alyglo sales).Meanwhile, operating profit came in at W29.2bn (-26.2% YoY), in line with the consensus (W29.3bn).The cost ratio climbed 7.4%p YoY, reflecting changes in the flu vaccine market (shift from quadrivalent to trivalent formulations) and the impact of in-licensed products (Paxlovid).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

GC Biopharma (006280 KS/Buy)3Q25 Review: In-Line Results

GC Biopharma Corp

GC Biopharma (006280 KS/Buy)3Q25 Review: In-Line Results