招银证券11月5日发布公告。Maintain BUY. Innovent aims to develop its global business, while protecting the interests of its broad shareholder base. We remain confident towards Innovent’s strong product sales, improving cost efficiency, and potential of overseas development. We maintain our DCF-based TP unchanged at HK$55.21 (WACC: 10.0%, terminal growth rate: 3.5%).