CSPC Innovation's Q1 2025 net profit plunges amid rising R&D

CSPC Pharmaceutical Group's (HKEX:1093) subsidiary, CSPC Innovation Pharmaceutical Co., Ltd., announced unaudited financial results for the three months ended March 31, 2025, revealing a net loss attributable to shareholders of CNY 26,901,607.29, a stark contrast to the CNY 79,061,260.62 profit in the same period last year. The downturn is attributed to a substantial increase in research and development expenses, particularly within Megalith Biopharma, and a decrease in revenue from functional ingredients due to fluctuating caffeine prices. Revenue dipped by 9.94% year-over-year to CNY 471,967,670.63. Basic and diluted earnings per share both reflected a loss of CNY 0.0192, compared to earnings of CNY 0.0676 in Q1 2024. The company cautions shareholders regarding the unaudited consolidated financial information.