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Movers | Federal Pharmaceutical Falls Over 10%, Expected to Earn 25% Less Last Year
Federal Pharmaceutical (03933) is expected to report a 25% decline in profit last year, with the stock price dropping over 10%, the largest decline of 12.7%, to a low of HKD 11.25.
As of 2:20 PM, the stock was at HKD 11.35, down 11.9%, with a turnover of HKD 496 million.
Federal Pharmaceutical issued a profit warning, expecting net profit for the year ending last year to be approximately RMB 2 billion, and for 2024 to be about RMB 2.658 billion, a decrease of around 25% year-on-year.
The group stated that the expected profit decline is mainly due to the decrease in market prices of intermediates and raw materials during the year, leading to a reduction in segment profits for intermediates and raw materials by about RMB 1.6 billion and RMB 400 million respectively compared to 2024. The formulation products segment profit increased significantly by about RMB 1.4 billion, with licensing fee income from Nuohe NuoDe contributing about RMB 1.3 billion, partially offsetting the decline in profits from the intermediates and raw materials segments.