CSPC Pharmaceutical warns of significant profit drop
CSPC Pharmaceutical Group Limited (HKEX: 1093) has issued a profit warning, projecting a 26% decline in profit attributable to owners of the company for the year ending December 31, 2024. This decrease stems primarily from a 7% drop in revenue from its finished drugs business compared to 2023. The decline is attributed to substantial price cuts, 58% and 23% respectively, for key products Jinyouli and Duomeisu under volume-based procurement in the Beijing-Tianjin-Hebei "3+N" Alliance, leading to a 28% decrease in oncology therapeutic area revenue. Further impacting results was Xuanning's exclusion from the national VBP, resulting in a 15% decline in cardiovascular therapeutic area revenue. The company is finalizing its financial statements, and the audited results, expected on March 28, 2025, may differ from these preliminary assessments. Shareholders and potential investors are urged to exercise caution when trading the company's securities.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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