CHINARES PHARMA subsidiary BOYA BIOLOGY expects a significant decrease in annual net profit due to impairment reduction

CHINARES PHARMA (03320.HK) announced that its subsidiary BOYA BIOLOGY (300294.SZ) expects a net profit for the fiscal year 2025 to be between RMB 105 million and RMB 137 million, compared to RMB 397 million recorded in the previous year. This is mainly due to a decline in the market for hyaluronic acid medical beauty products distributed by Anhui Greenke Pharmaceutical, resulting in an impairment of intangible assets (franchise rights) and goodwill totaling approximately RMB 300 million