Shanghai Fosun Pharmaceutical (SHA:600196, HKG:2196) unit Hebei Wanbang Folon Pharmaceutical's drug registration application for Tao Hong Si Wu Tang Granules was accepted by China's National Medical Products Administration.
The drug is intended to be used for blood deficiency and blood stasis syndrome, according to a Wednesday Hong Kong bourse filing.
Resonac's (TYO:4004) profit attributable to owners of the parent rose 75% to 15.3 billion yen for the first quarter from 8.75 billion yen a year earlier.The chemicals company's earnings per share increased to 76.17 yen from 48.44 yen a year ago, according to a Tokyo bourse filing on Wednesday.Revenue slipped 4.1% to 307.9 billion yen for the three months ended March 31 from 321.1 billion yen in the prior-year period.For the year ending Dec. 31, the company expects attributable profit of 77 billion yen, EPS of 425.45 yen, and revenue of 1.31 trillion yen.Resonac plans to pay a year-end dividend of 65 yen per share for the year.
ITC Properties Group (HKG:0199) completed the placing of a little over 69.1 million new shares to raise net proceeds of HK$52.9 million, according to a Wednesday Hong Kong bourse filing.The shares, which were placed to at least six investors at HK$0.8 apiece, represent 6.35% of the property developer's enlarged issued share capital.The firm will use proceeds for investment-related initiatives focusing on AI and technology projects, as well as for the expansion of strategic partnerships to support ongoing projects and overseas growth.
India contracted larger-than-expected volumes of diammonium phosphate (DAP) in a recent import tender as the Middle East conflict disrupted supplies and pushed global fertilizer prices higher, Bloomberg reported late on Tuesday, citing people familiar with the matter.India secured around 1.35 million tons of DAP through the latest import tender, exceeding the originally targeted volume of 1.2 million tons, according to people familiar with the matter cited by Bloomberg News.The country purchased about 12% above the 1.2 million tons of DAP sought in the latest tender, which closed last week, people familiar with the matter told Bloomberg.State-backed importer Indian Potash will buy 705,000 tons for delivery on India's west coast at $930 per ton and another 641,500 tons for the east coast at $935 per ton, according to the report.The contracted prices stood roughly 39% above the prices before the start of the Middle East conflict, Bloomberg reported, citing Green Markets data. India had earlier purchased 2.5 million tons of urea in another tender at nearly double pre-war prices, the report added.The fertilizer purchases come ahead of sowing for key monsoon crops, including rice, corn and soybeans.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)