Tong Ren Tang Sinopharm (03613) fell by more than 10%, down 10.16% at press time, to HK$9.99, with a turnover of HK$499,500.
The Zhitong Finance App learned that Tong Ren Tang Sinopharm (03613) fell by more than 10%, down 10.16% at press time, to HK$9.99, with a turnover of HK$499,500.
According to the news, the company announced yesterday that the Group's revenue for the year ended December 31, 2023 is expected to drop 11% to 15% compared to the same period in 2022, while the Group's profit after tax will drop 18% to 22%. The Group's revenue and profit after tax are expected to decline for the year ended December 31, 2023, mainly due to a slight deviation between actual market conditions and demand and expectations after the pandemic. Some distributors in mainland China are still digesting the Group's own product inventory in 2023, affecting the sales revenue of the Group's own products in mainland China.