Summary by Moomoo AI
Yichang East Sunshine Changjiang Pharmaceutical Co., Ltd. (“Dongguang Changjiang Pharmaceutical”) issued a profit forecast announcement on March 12, 2024. It expects full-year sales to reach approximately RMB62.95 billion in 2023, an increase of 68.09% over the same period last year. Profit before tax is expected to range between $20.27 billion and $22.7 billion, with a year-on-year growth of 5,097.44% to 5,610.26%. Net return on equity is expected to reach $19.00 billion to $21.00 billion, up 2,367.53% to 2,627.27%. The significant increase in results was mainly due to the improvement of the socio-economic environment, the normalization of personnel flows, and the company's strengthening of academic promotion and brand building, in particular, improved brand awareness of its core products. The Company achieved good growth in its business segments such as anti-infectious paediatrics, slow disease, new drug lines, and new retail acquisitions. The Company will announce detailed annual results on March 28, 2024.