CHENGDA PHARMA: Expected net loss of RMB 21 million to RMB 29 million in 2024

CHENGDA PHARMA announced that it expects a net loss attributable to shareholders of the listed company of 21 million to 29 million yuan from January 1, 2024, to December 31, 2024, compared to a profit of 90.98 million yuan in the same period last year; the net loss after deducting non-recurring gains and losses is expected to be 50 million to 60 million yuan, compared to a profit of 53.82 million yuan in the same period last year. The main reason for the performance change is a year-on-year decline in operating income of approximately 16% to 27%, with sales revenue from the raw material drug business decreasing by about 33% year-on-year; the company continues to increase R&D investment, with R&D expenses of approximately 90 million to 98 million yuan, an increase of about 66 million yuan compared to the previous year; new depreciation expenses of approximately 8.33 million yuan; the impact of non-recurring gains and losses on net profit is approximately 30 million yuan