VIVA BIOTECH (01873) surged more than 5% in Thursday's trading session, last up 5.17% at HK$1.425 with turnover reaching HK$7.54 million.

According to the company's recently disclosed first-half results, China Merchants Securities noted that 26H1 revenue climbed 21.0% year-on-year, largely attributed to the significant contribution from the ramp-up of two new commercial CDMO projects at Langhua Pharma. Specifically, Langhua Pharma generated revenue of RMB 601 million in 26H1, up 47.0% year-on-year (52.2% at constant exchange rates).

Both key new commercial projects are progressing steadily. The peptide project has already achieved commercial launch and entered the stocking and volume ramp-up phase, while the small-molecule project is currently in the PPQ production stage with an expected commercial launch in 2027. Together, these projects are set to become the core growth drivers for the CDMO business in the coming years.