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Pilot Pharmaceutical Biotechnology (00399.HK) turned from a loss to a profit of HK $125 million in the medium term

格隆滙 ·  {{timeTz}}


On November 29th, 00399.HK announced that for the six months ended September 30, 2021, the company's income was HK $6.632 million, down 7.27% from the same period last year; the profit attributable to the company's owners was HK $125 million, compared with a loss of HK $93.449 million in the same period last year; a loss of HK8.54 cents per share.


The announcement said that the turn from loss to profit was mainly due to the non-cash items resulting from the completion of the second revision of the convertible bonds. Convertible Bond III has been reclassified to the fair value of the liability portion of Convertible Bond III at the completion date (lower than its carrying amount). The difference between the carrying amount and fair value of the liability portion is approximately HK $251 million and has been included in the income statement for the current financial period.

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