CSPC Pharma net rises 39pc to $5.1b

CSPC Pharmaceutical (1093) yesterday said its net profit rose nearly 39 percent to HK$5.16 billion last year.

It declared a final dividend of 9 Hong Kong cents.

Revenue jumped by 13.8 percent to 20.40 billion yuan (HK$24.35 billion) year-on-year.

Gross profit margin increased by 2.9 percentage points to 74.9 percent, thanks to an improvement in sales mix, the firm said .

This came as another biotech company New Horizon Health (6606) saw its loss and total comprehensive expenses for the year widen by 6.4 times to over 788.72 million yuan last year.

It declared no dividend. Revenue went up by 21 percent to 70.57 million yuan, while gross profit margin fell 6.1 percentage points to 52.8 percent.

Revenue, profitability, and shipments were affected to a certain extent by the Covid-19 epidemic last year, the company said.

Meanwhile, the home colon cancer screening test gear maker signed an agreement with AstraZeneca to do promotions in public hospitals, pharmacies and Internet hospitals in China.

In other news, Shimao Services (0873) said its net profit jumped by nearly 81 percent to 692.95 million yuan year-on-year in 2020. The property management arm of mainland developer Shimao Group (0813) declared a final dividend of 11 Hong Kong cents, meaning a payout ratio of 31 percent.

Gross profit margin fell by 2.3 percentage points to 31.4 percent since it acquired nine property management firms during the period, as newly acquired companies come in with lower gross profit margins upon acquisition, president Ye Mingjie said.