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    1093   HK1093012172

CSPC PHARMACEUTICAL GROUP LTD.

(1093)
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Delayed Hong Kong Stock Exchange  -  04:08 2022-06-27 am EDT
7.790 HKD   -0.26%
06/22CSPC Pharmaceutical Gets Biologic License Approval from China for Bone Treatment
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06/22CSPC Pharmaceutical Group Limited Announce Biologic License Application for Jmt103 Accepted by the NMPA
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06/14China Grants Approval, Generic Drug Status to CSPC Pharma's Dopamine Agonist
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CSPC Pharma Shares Fall After Weaker 1Q Profit

05/26/2022 | 12:17am EDT

By Clarence Leong


Shares of CSPC Pharmaceutical Group Ltd. fell after its first-quarter net profit weakened, amid a sluggish performance for the healthcare sector in Hong Kong.

CSPC's stock lost up to 8.2% in early Thursday trade, and was last down 5.0% at HK$7.45. It has dropped 12% so far this year.

The Chinese company on Wednesday posted 1.40 billion yuan ($209.2 million) net profit for the first three months of the year, 4.6% lower compared with the same period the year earlier, dragged by fair-value losses for its financial assets. Revenue for the quarter rose 17% to CNY7.87 billion.

CSPC's underperformance came amid declines for its peers including Wuxi Biologics (Cayman) Inc. and Zai Lab Ltd., which shed 3.4% and 6.0%, respectively.

Daiwa Capital Markets kept a hold rating on CSPC's stock following its results, noting that the patent on CSPC's revenue driver--a drug known as NBP which is used to treat a nervous-system disease and contributed about 32% of revenue in 2020--is set to expire by end-2023. "The next revenue growth engine is missing," Daiwa analyst Dennis Ip said in a research report. He added that he is more conservative on the stock while waiting for the clinical trial results of two potential new products.

Analysts at Nomura trimmed their earnings forecasts for the drug maker by 0.6% for 2022 and 2.3% for 2023 in anticipation of a lower gross profit margin. The Japanese investment bank lowered the stock's target price to HK$11.64 from HK$12.32, mainly to reflect a weaker yuan. But Nomura reaffirmed its buy rating, citing the company's stable growth profile.


Write to Clarence Leong at clarence.leong@wsj.com


(END) Dow Jones Newswires

05-26-22 0016ET

Stocks mentioned in the article
ChangeLast1st jan.
CSPC PHARMACEUTICAL GROUP LTD. -0.26% 7.79 Delayed Quote.-7.79%
NOMURA CO., LTD. 0.47% 863 Delayed Quote.-9.86%
NOMURA CORPORATION 0.72% 985 Delayed Quote.11.64%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.04% 6.68651 Delayed Quote.5.15%
ZAI LAB LIMITED 3.23% 34.22 Delayed Quote.-45.55%
All news about CSPC PHARMACEUTICAL GROUP LTD.
06/22CSPC Pharmaceutical Gets Biologic License Approval from China for Bone Treatment
MT
06/22CSPC Pharmaceutical Group Limited Announce Biologic License Application for Jmt103 Acce..
CI
06/14China Grants Approval, Generic Drug Status to CSPC Pharma's Dopamine Agonist
MT
06/10Nomura Adjusts CSPC Pharmaceutical Group's Price Target to HK$11.2 From 11.64, Keeps at..
MT
06/02Hong Kong Hang Seng Down 1% On Wall Street Cues, Central Bank Outlooks
MT
05/31Hong Kong Hang Seng Up 1.2% on Easing China Restrictions, Stimulus Outlook
MT
05/31CSPC Pharmaceutical's Hepatitis B Medication Gets Chinese Government Approval
MT
05/31CSPC PHARMACEUTICAL GROUP LTD. : Ex-dividend day for final dividend
FA
05/27CSPC Pharmaceutical Group Limited Announces Change of CEO
CI
05/27CSPC Pharmaceutical Group Limited Announces Appointment of Wu Guizhen as Independent No..
CI
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Analyst Recommendations on CSPC PHARMACEUTICAL GROUP LTD.
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Financials
Sales 2022 36 633 M 4 667 M 4 667 M
Net income 2022 7 161 M 912 M 912 M
Net cash 2022 14 397 M 1 834 M 1 834 M
P/E ratio 2022 13,0x
Yield 2022 1,97%
Capitalization 93 060 M 11 856 M 11 856 M
EV / Sales 2022 2,15x
EV / Sales 2023 1,78x
Nbr of Employees 24 746
Free-Float 70,4%
Chart CSPC PHARMACEUTICAL GROUP LTD.
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Technical analysis trends CSPC PHARMACEUTICAL GROUP LTD.
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Last Close Price 7,81 HKD
Average target price 12,01 HKD
Spread / Average Target 53,8%
EPS Revisions
Managers and Directors
Cui Long Zhang Vice Chairman & Chief Executive Officer
Dong Chen Cai Chairman
Bo Wang Independent Non-Executive Director
Chuan Chen Independent Non-Executive Director
Chun Kwok Au Independent Non-Executive Director
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