CSPC PHARMA's subsidiary, CSPC Innovation, reported a loss of at least 170 million RMB last year

CSPC PHARMA (01093.HK) announced that its subsidiary CSPC Innovation (300765.SZ) issued a profit warning, expecting a loss of between RMB 170 million and RMB 250 million for the fiscal year 2025, compared to a profit of RMB 53.73 million in the previous year. The loss is mainly due to significant progress in multiple research and development products, increased investment in R&D expenses, with total R&D expenses rising to approximately RMB 1 billion for the year; the acquisition of a minority stake in its subsidiary, Giant Biotech, which has increased the impact of Giant Biotech's current profit and loss on net profit; and the functional raw materials business experiencing a decrease in gross margin for caffeine products