Quam Securities

Since its inception in 1986, Quam Securities Limited (Quam Securities) has grown to become one of the few mid-tier securities brokerages in Hong Kong with global execution capabilities for both private and institutional clients. It boasts a well-established network in Greater China including Taiwan and in major world markets through the Global Alliance Partners (GAP). Quam Securities is well-positioned not only to harness and drive business within the China Tonghai International Financial Limited but also between China and the world markets.

Research from Quam Securities

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Quam Securities Research

Equity Bottom-Up

<ul><li>BeOne Medicines (6160 HK, NR) announced that its 1H26 revenues of US$3.2bn increased 32% y/y, driven primarily by growth in BRUKINSA product sales in the US and Europe.</li><li>The GAAP net income increased from US$95.6mn in 1H25 to US$464.4mn in 1H26.</li><li>We expect BeOne Medicines to maintain a high growth rate, driven by the successful marketing of BRUKINSA in the US and EU, with additional indications approved in overseas markets.</li></ul>

BeOne Medicines (6160 HK, NR) announced that its 1H26 revenues of US$3.2bn increased 32% y/y, driven primarily by growth in BRUKINSA product sales in the US and Europe.The GAAP net income increased from US$95.6mn in 1H25 to US$464.4mn in 1H26.We expect BeOne Medicines to maintain a high growth rate, driven by the successful marketing of BRUKINSA in the US and EU, with additional indications approved in overseas markets.

Quam Morning Note (6 Aug) - BeOne Medicines