On July 29, XTALPI fell 5.06% in regular trading, trading at HKD 6.76/share, with turnover of HKD 218 million. The decline extends a multi-day selloff triggered by the company's profit warning issued on July 24.

According to the filing, XTALPI expects a net loss attributable to shareholders of RMB 215 million to RMB 275 million for H1, compared with a net profit of RMB 82.8 million a year earlier, representing a sharp swing to loss. Revenue is expected at RMB 380 million to RMB 400 million, down significantly from RMB 517.1 million in the prior-year period, primarily due to the absence of a $51 million upfront payment from the DoveTree pipeline licensing project recognized last year. The company noted it received a second milestone payment of $19 million under that agreement during the current period.

Additionally, R&D expenses are projected at no less than RMB 340 million, a year-on-year increase exceeding 50%, driven by continued investment in autonomous laboratories, agentic systems, and drug development programs, further compressing profit margins. Selling pressure has persisted since the profit warning.

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