The Zhitong Finance App learned that Sinopharm Holdings (01099) rose nearly 4% in the afternoon. As of press release, it had risen 3.71% to HK$20.7, with a turnover of HK$37.7066 million.
According to the news, Sinopharm Holdings announced annual results up to the end of December last year, with a turnover of 596.57 billion yuan, up 8% year on year; net profit of 9.54 billion yuan, up 6.2% year on year; and profit of 2.9 yuan per share. The final interest rate was 87 points per share, compared to 82 points for the same period last year.
Citi said that the company's performance was generally in line with the bank's and market expectations. Management indicated that the business continues to recover from anti-corruption. It is expected that this year's drug sales revenue will grow 2 to 3 percentage points faster than the healthcare industry, in line with the company's earlier long-term guidelines. Management also expects to maintain a stable gross profit margin, accelerate the growth of pharmaceutical service revenue, and accelerate the growth of the medical device business.
Yamato, on the other hand, said that Sinopharm's profit performance in the last quarter was mainly driven by higher gross margin than expected, as well as non-operating income and lower financial expenses. Revenue for the last quarter increased by 3.4% year-on-year, which was the same year over year in the third quarter of last year, reflecting the return of the company's revenue to a growth trajectory.