July 13, 2026 02:47 PM GMT Pharmaron | Asia Pacific M Update 1H26 Preliminary Tracking Full- year Guidance Reaction to earnings Unchanged Modest shortfall Largely unchanged Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Key Takeaways Tracking the higher end of the 2026 guidance: The implied 2Q26 revenue Rmb3,894-4,087mn (+16.5-22.3% YoY) points to a sequential step-up in top-line growth (vs. +15.5% YoY in 1Q26), ...