Shanghai Shyndec Pharmaceutical reports 18% revenue decline

Shanghai Shyndec Pharmaceutical reported first-half revenue of 4.88bn yuan, down 18.16% year-on-year, while net profit fell 6.46% to 672m yuan.

The decline was driven by weaker sales and prices for penicillin-class raw materials due to market supply and demand issues. Finished drug categories including cephalosporins, hormones, and neurological products also saw reduced sales from centralized procurement and decreased terminal demand.

Despite the revenue drop, the company managed to stabilize profit margins through reduced period expenses.