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China's Fudan-Zhangjiang Bio-Pharma nine-month net profit turns positive

By Reuters News


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


Reuters Recommended Reads

  • Oct 29 - China's Hepalink nine-month revenue falls 9.5%, profit down 29%

  • Oct 27 - China's Hengrui Pharma nine-month profit rises on out-licensing gains

  • Oct 27 - Pharming Group Q3 revenue rises on US demand; tightens guidance


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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