Microchip Medical (00853.HK) issued a profit warning, forecasting a net loss of between $0.105 billion and $0.125 billion for the six months ended June, down 43% to 52% from the same period last year; adjusted net loss is expected to be between $65 million and $75 million, down 60%-65%.

Substantial decrease in losses driven further market share by commercialization of the Group's leading product commercialization, new products contributed to revenue growth, continued solid revenue growth over the period, resulting in increased gross profit; sustained execution and implementation resource focus, significantly improved operational efficiency; and completed several non-core businesses Sell and actively shut down certain early-stage R&D projects.