The Zhitong Finance App learned that Zhaoyan New Pharmaceutical (06127) fell by more than 11%. As of press release, it fell 11.12% to HK$8.79, with a turnover of HK$14.2872 million.

According to the news, Zhaoyan Pharmaceutical released its 2024 quarterly report. During the reporting period, the company achieved total revenue of 325 million yuan, a year-on-year decrease of 12.07%; net loss of 272 million yuan, which changed from profit to loss over the previous year. In its financial report, the company attributed losses to fluctuations in the market price of biological assets and losses in the laboratory services business. First, the net loss due to changes in the fair value of biological assets was 284 million yuan. Second, the laboratory service business led to a loss of 21.0437 million yuan, a year-on-year decrease of 130.01%. The net loss in the laboratory services business was mainly due to increased competition and the impact of declining gross margin.