bullish
CSPC Pharmaceutical (1093 HK): 1Q22 Result: Double-Digit Revenue Growth; One-Off Charges Drag Profit
392 Views17 Jul 2022 17:06
SUMMARY
- CSPC Pharmaceutical Group (1093 HK) reported Q1 results, with revenue growth of 17% y/y to RMB8 billion, driven by a 15% y/y growth in finished drugs revenue.
- Oncology, with 34% contribution to finished drug revenue remained the main growth engine. Oncology revenue grew 15% y/y. The company has launched one new innovative oncology drug in Q1.
- CSPC’s net profit declined 5% y/y to RMB1.40 billion, dragged by fair-value losses of RMB133 million on its financial assets. Without considering one-off charge, net profit would have increased 10%.
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Tina Banerjee
Global Healthcare Analyst
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