Jinwu Financial News | Federal Pharmaceuticals (03933) had a strong opening. As of press release, it rose 4.72% to HK$8.87, with a turnover of HK$9.23 million.
According to the news, the company announced that the group expects to make a profit of about RMB 2.6 billion in 2023, while profit of about RMB 1,581 billion in 2022. According to the announcement, the increase in profit was mainly due to the steady increase in the turnover of the Group's various business segments during the year; among them, sales of intermediate products and APIs continued to grow, and rising demand represented by overseas markets led to a steady rise in market prices for related products. Furthermore, sales of animal insurance products maintained significant growth during the year. The group's overall gross profit increased by approximately RMB 1.3 billion.