Summary by Futu AI
Cansinobio announced its unaudited interim performance for the six months ended June 30, 2024, on August 29, 2024. During the period, the revenue increased significantly to RMB 285,420 thousand compared to the same period last year, but the company still recorded a loss of RMB 230,160 thousand. Cansinobio lost control over Shanghai Shangyao Cansinobio Pharmaceutical Co., Ltd. and reclassified it as an associate company. In addition, the company did not distribute any dividends during the period and announced a concerted action group plan to repurchase H-shares from the public market within six months after the reporting period. The company's management believes that, despite facing litigation in Brazil, it is unlikely to be required to pay any economic compensation for the claims.