Weigao shares (01066) fell by more than 5%. As of press release, it was down 4.5% to HK$5.09, with a turnover of HK$69.123 million.
The Zhitong Finance App learned that Weigao shares (01066) fell by more than 5%. As of press release, it was down 4.5% to HK$5.09, with a turnover of HK$69.123 million.
According to the news, Weigao Co., Ltd. recently issued an announcement. Net profit for 2023 is expected to drop by about 25%-30% year on year; revenue is expected to fall by 2%-5%. Mainly because the impact of drug volume procurement was worse than expected; the rise in US dollar interest rates caused financing costs to rise.
CICC said it lowered Weigao's 2023 and 2024 core earnings per share forecasts by 23% and 32%, respectively, due to pressure on clinical nursing, orthopedic and pharmaceutical packaging businesses. The target price was lowered by 41% to HK$7.5 due to a downward shift in the valuation center of the pharmaceutical sector.