Chang Mao Biotech (00954) fell by more than 21%. As of press release, it was down 21.7% to HK$0.415, with a turnover of HK$1.092 million.
The Zhitong Finance App learned that Changmao Biotech (00954) fell by more than 21%. As of press release, it was down 21.7% to HK$0.415, with a turnover of HK$1.092 million.
According to the news, Changmao Biotech announced that the estimated comprehensive net loss attributable to the company's shareholders in 2023 is RMB 85 million to RMB 95 million, changing from profit to loss over the same period last year. Sales revenue and gross margin declined mainly due to falling product sales prices and weakening export demand; the new factory located in Dalian was not yet profitable, which had a negative impact on overall gross margin; and Changmao, a subsidiary of Lianyungang, experienced losses during the year.
Furthermore, the company issued an announcement stating that so far, the company's initial public offering of A-shares and listing on the GEM of the Shenzhen Stock Exchange has not been implemented. In view of the current changes in the macroeconomic environment of the capital market and taking into account the Group's current actual operating conditions, the board of directors decided to suspend implementation of the proposed A-share issuance plan.