"Profit Warning" CSPC PHARMA's revenue declines, expects to earn 45%-60% less for the year

CSPC PHARMA (02005.HK) issued a profit warning, expecting that the profit for the fiscal year 2025 will decrease by 45%-60% compared to the previous year's profit of 1.061 billion yuan. This is mainly due to the absence of large-scale epidemics domestically, coupled with medical insurance cost control leading to a decline in terminal sales of pharmaceuticals, the expansion of the scope of volume-based procurement, and intensified domestic and international industry competition resulting in sustained price pressure, as well as the discontinuation of the sales of bromhexine hydrochloride injection through the national drug procurement