CRO concept stocks had the highest decline. As of press release, Pharmacovich (02359) fell 7.6% to HK$39.5; Kingsley Biotech (01548) fell 5.73% to HK$15.78; and Kanglong Chemical (03759) fell 3.54% to HK$10.34.
The Zhitong Finance App learned that CRO concept stocks had the highest decline. As of press release, Yao Ming Kangde (02359) fell 7.6% to HK$39.5; Kingsley Biotech (01548) fell 5.73% to HK$15.78; Kanglong Chemical (03759) fell 3.54% to HK$10.34; and Zhaoyan Pharmaceutical (06127) fell 2.86% to HK$10.2.
According to the news, Yao Ming Kangde announced its 2023 annual results, with revenue of 40,340.8 billion yuan (RMB, same below), up 2.5% year on year; profit attributable to parent company holders was 10.69 billion yuan, up 21.3% year on year; and plans to pay a cash dividend of 9.8336 yuan (tax included) for every 10 shares to all shareholders. Furthermore, according to Yao Ming Kangde's annual report, the company expects revenue to reach RMB 38.3 billion to RMB 40.5 billion in 2024, and will maintain positive growth after excluding specific commercial production projects.
It is worth noting that during the reporting period, Yao Ming Kangde's revenue from US and European customers increased by 42% and 12% respectively; the Chinese business only increased by 1%. As the US Biosafety Act continues to advance and there is a possibility that business dealings with Pharmaceutical Kangde will not be allowed, there may be uncertainty about the 2024 performance of Pharmaceutical Kangde. Recently, BIO changed the original news content on its official website and announced that “Pharmaceutical Kangde has voluntarily terminated its BIO membership.”