China's Fudan-Zhangjiang Bio-Pharma nine-month net profit turns positive
Overview
China biopharma firm's nine-month revenue fell 3.9% yr/yr
Net profit attributable to shareholders turned positive from a loss last year
Profit rise driven by lower clinical, R&D and goods expenses
Outlook
Company did not provide specific guidance for future quarters or the full year in the press release
Result Drivers
LOWER CLINICAL AND R+D EXPENSES - Co said profit rise was mainly due to decreased clinical and research materials and outsourced R+D expenses
LOWER GOODS EXPENSES - Co said net profit improvement was mainly due to decrease in cash paid for goods and services
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
9M Revenue | RMB 529.70 mln | ||
9M Net Income Attributable | RMB 38.40 mln |
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)