Shares of Hutchison China Meditech (HCM), also known as HUTCHMED, are experiencing a significant pre-market plunge of 7.67% on Thursday, despite reporting a substantial increase in half-year earnings. The biopharmaceutical company's stock movement comes in the wake of its latest financial results, which present a mixed picture of the company's performance.

HUTCHMED reported earnings of $2.61 per American Depositary Share (ADS) for the first half of the year, marking a dramatic rise from $0.15 per ADS in the same period last year. This represents a staggering 1,640% year-over-year increase in earnings. However, the company's total revenue for the period stood at $277.677 million, a 9.16% decrease compared to the $305.681 million reported in the first half of the previous year.

The pre-market stock decline, despite the impressive earnings growth, suggests that investors may be focusing on the revenue drop or that the earnings increase might have been already priced into the stock. Additionally, other factors not mentioned in the earnings report, such as future guidance or broader market conditions, could be influencing investor sentiment. As the trading day progresses, it remains to be seen how the market will ultimately digest this mixed earnings report and whether the initial negative reaction will persist.