Summary by Futu AI
Consino Biologics Corporation (the “Company”) has announced its 2023 results forecast for a full-year 2023 net loss ranging from RMB 1,268.5 million to RMB 1,496.9 million. NET LOSS IS EXPECTED TO BE RMB1,377.0 MILLION TO $1,624.9 MILLION AFTER EXCLUDING NON-RECURRING LOSSES. The announcement has not been audited or reviewed by an independent auditor. The main reason for the increase in net loss compared to the same period last year was the decrease in the market demand for COVID-19 vaccines and the accounting and estimation of the refund amount for the COVID-19 vaccine product. In addition, due to insufficient capacity utilization, the company conducted depreciation tests on related inventories and assets and calculated depreciation losses. Despite this, the company's revenue from brain drain vaccine products grew. The company emphasizes that these data are preliminary estimates only, and specific financial data will be based on audited annual reports. The announcement was made by Chairman Xuefeng YU on January 30, 2024.