Fudan-Zhangjiang Bio-Pharma Expects Up to 68% Lower Net Profit in 2024

MT Newswires Live

01/17

Shanghai Fudan-Zhangjiang Bio-Pharmaceutical (HKG:1349, SHA:688505) expects net profit attributable to shareholders in the range of 35 million yuan and 52 million yuan in 2024, 52% to 68% lower than 108.6 million yuan logged in 2023, a Friday Hong Kong bourse filing said.

The pharmaceutical company attributed the expected reduction in profit to an increase in research and development expenses, additional expenses due to scaling up production processes for two of its projects, and getting a new subsidiary operational.

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