CHANGMAO BIO issues a profit warning, expecting a mid-term net loss of approximately 24 million to 27 million yuan
CHANGMAO BIO issued a profit warning, expecting a consolidated net loss attributable to the company's shareholders of approximately RMB 24 million to 27 million for the six months ending June 30, 2025, an increase from the loss of RMB 18.786 million for the six months ending June 30, 2024. The board pointed out that the financial performance was affected by factors such as declining product sales prices, intensified market competition, and increased interest expenses
According to the announcement from Zhitong Finance APP, CHANGMAO BIO (00954) expects to incur a consolidated net loss attributable to the company's shareholders of approximately RMB 24 million to 27 million for the six months ending June 30, 2025. For the six months ending June 30, 2024, the consolidated net loss attributable to the company's shareholders is expected to be approximately RMB 18.786 million.
The board of directors believes that the group's financial performance for the six months ending June 30, 2025, will be mainly affected by the following factors: a decrease in sales revenue and gross profit due to falling product sales prices and intense market competition; and an increase in interest expenses included in the consolidated income statement, which is due to a reduction in the amount of capitalized interest expenses for qualifying assets
