Cansino Biotech (06185) is now up more than 9%. As of press release, it is up 9.17% to HK$17.38, with a turnover of HK$35.3809 million.
The Zhitong Finance App learned that Cansino Biotech (06185) is now up more than 9%. As of press release, it has risen 9.17% to HK$17.38, with a turnover of HK$35.3809 million.
According to the news, Cansino Biotech announced annual results. The group achieved revenue of 345 million yuan during the period, a year-on-year decrease of 66.52%; shareholders' losses amounted to 1,483 billion yuan, an increase of 63.04% over the previous year. The decrease in revenue was mainly due to reduced demand for COVID-19 vaccine products and estimated returns of COVID-19 vaccine products of approximately $253 million, which had a negative impact on revenue.
CICC pointed out that starting in 2023, the company's sales focus will shift from the COVID-19 vaccine to the influenza vaccine. The two influenza vaccine products achieved sales revenue of 562 million yuan, an increase of 266.39% over the previous year, of which MCv4 contributed the main revenue. Furthermore, the bank believes that most of the negative effects of the company's COVID-19 vaccine business have been reflected on the reporting side, and there are few subsequent negative effects.