CHANGMAO BIO (00954) announced its 2025 interim results, reporting revenue of approximately HK$272 million, down 13.23% year-on-year. The loss attributable to company shareholders reached HK$25.79 million, an increase of 37.28% compared to the same period last year. Loss per share stood at HK$0.049.

According to the announcement, the decline in performance was primarily attributed to two main factors: First, external disruptions including geopolitical conflicts and uncertainties surrounding tariff policies. Additionally, downstream demand for maleic anhydride fell short of expectations, while the release of new production capacity altered the supply-demand dynamics, indirectly affecting the pricing and profitability of the Group's major products. Second, interest expenses in the consolidated statement of comprehensive income increased due to reduced capitalized interest expenditure on qualifying assets.