Gale Pharmaceuticals Co. Ltd. (Gale Pharmaceuticals-B) issued a profit warning, expecting a net loss attributable to shareholders of RMB 127.3 million to 132.3 million for the six months ending June 30, 2024, compared with a net loss of approximately RMB 16.6 million for the same period in 2023, showing a significant increase in losses. The increase is mainly due to the reduced demand for lopinavir products in the market after the successful control of the COVID-19 epidemic in mainland China, resulting in no sales revenue in the first half of the year, while R&D costs have also risen. Currently, the company is working on the comprehensive financial performance for the first half of 2024, and a detailed mid-term performance announcement is expected to be released at the end of August 2024. Shareholders and potential investors of the company should exercise caution.

Gale Pharmaceuticals Co. Ltd. (Gale Pharmaceuticals-B) issued a profit warning, expecting a net loss attributable to shareholders of RMB 127.3 million to 132.3 million for the six months ending June 30, 2024, compared with a net loss of approximately RMB 16.6 million for the same period in 2023, showing a significant increase in losses. The increase is mainly due to the reduced demand for lopinavir products in the market after the successful control of the COVID-19 epidemic in mainland China, resulting in no sales revenue in the first half of the year, while R&D costs have also risen. Currently, the company is working on the comprehensive financial performance for the first half of 2024, and a detailed mid-term performance announcement is expected to be released at the end of August 2024. Shareholders and potential investors of the company should exercise caution.