According to the Zhitong Finance App, Xinrui Pharmaceutical (06108) announced results for the year ended December 31, 2023, with revenue of about HK$50.2 million, a year-on-year decrease of 44.1%; net loss attributable to company owners was approximately HK$22.2 million, a year-on-year decrease of about 71.5%; and a loss of 1.33 HK cents per share.
The decline in revenue was mainly due to the further strengthening of the hierarchical classification management policies for the adoption of antimicrobials in many regions of mainland China, and the adverse effects continued. As a result, demand for the Group's main product, second-generation cephalosporin products (1.0g), declined this year.