FINWIRES · TerminalLIVE
FINWIRES

CSPC Pharmaceutical's Profit Falls 42% in Q1

By

CSPC Pharmaceutical (HKG:1093) posted profit attributable to shareholders of 859.8 million yuan for the first quarter, down 42% from 1.48 billion yuan a year earlier, according to a Wednesday Hong Kong bourse filing.

Earnings per share at the drugmaker came in at 0.0754 yuan from 0.1291 yuan in the prior-year period.

Quarterly revenue fell 7.8% to 6.47 billion yuan from 7.01 billion yuan a year earlier.

Despite the profit contraction, the company boosted its R&D spending by 7.7% to 1.403 billion Yuan, dedicating 26.8% of finished drug revenue to advance more than 130 clinical projects and accelerate its pipeline transition.

Related Articles

Asia

Update: BlueScope Steel No Longer Bidder for Whyalla Steelworks

(Updates to add BlueScope's response in the fourth and fifth paragraphs)BlueScope Steel (ASX:BSL) is no longer a bidder for Whyalla Steelworks operations in South Australia, multiple media outlets reported on Wednesday.South Australia Premier Peter Malinauskas said that two bidders have been shortlisted for the sale, according to his post on X.According to media reports, M Resources and India-listed Jindal Steel remain the last remaining bidders for the South Australian business.A Bluescope spokesperson, in response to' email request for comment, said that its consortium, together with Nippon Steel Corporation, JSW Steel, and POSCO, has been advised by the Administrators that it has not been invited to progress to the next stage of the process."The Administrator has confirmed that BlueScope retains its right of last offer under the services agreement[;] however, there remains no obligation on any of the consortium members to make an offer to acquire the Whyalla Steelworks," the spokesperson added.The company's shares rose 1% in recent Wednesday trade.

$ASX:BSL
Asia

Broncus Terminates HK$327 Million Share Subscription Agreement

Broncus (HKG:2216) terminated subscription agreements signed with two investors for the proposed issuance of 105.1 million shares at HK$3.11 each, according to a Tuesday Hong Kong bourse filing.Shares of the lung disease treatment firm were down 1% in recent trade.The proposed subscriptions, announced in October 2025, were expected to raise net proceeds of about HK$326.5 million for potential medical device acquisitions.Broncus said it entered into termination agreements with the subscribers, under which the subscription agreements became null and void except for confidentiality obligations.The medical device company said the termination is not expected to have any material adverse impact on its business, operations, or financial position and will not affect its future capital operations.

$HKG:2216
Asia

Kintor Pharmaceutical Auditor to Retire; Shares Drop 7%

Kintor Pharmaceutical (HKG:9939) said its long-time auditor PricewaterhouseCoopers will retire at the company's upcoming annual meeting in June, according to a Tuesday filing with the Hong Kong bourse.The pharmaceutical company's shares fell nearly 7% in late morning trade Wednesday.The firm said it planned to appoint Rongcheng (Hong Kong) as its new auditor.

$HKG:9939