On October 28, CANSINOBIO rose 6.1% in Regular Trading, trading at HK$29.18, with turnover of HK$85.06 million.

The move followed the company’s latest third-quarter results, which showed revenue of RMB882 million for the first nine months, up 27.40% year over year, and attributable net profit of RMB16.29 million, up 12.82%, helping support market sentiment.

Further details showed third-quarter revenue of RMB332 million, up 7.17% year over year. Non-recurring gains totaled RMB61.27 million in the first nine months, mainly including government grants of RMB23.60 million and fair-value and investment disposal gains of RMB27.40 million. R&D spending was RMB260 million, down 5.33% year over year, equivalent to 29.42% of revenue. The company also said the first batch of restricted stock vesting involved 811,320 shares, while impairment charges and deferred tax asset write-downs together affected net profit by RMB33.03 million.

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