Hong Kong Stock Market News | CanSino Biologics up nearly 9% as negative impact of COVID-19 vaccine is already reflected, MCV series expected to accelerate volume growth
Kangxinuo Biotech is now up nearly 6%, as of the time of publication, up 8.66% to HKD 17.82, with a turnover of HKD 144.844 million. CITIC Securities stated that in 2023, Kangxinuo Biotech's profit was significantly affected by factors such as a sharp decrease in revenue from the COVID-19 vaccine, returns offset, redundant production capacity included in operating costs, and asset impairment, leading to an apparent increase in losses. It is expected that this impact will significantly decrease in 2024, combined with revenue growth and cost control, overall losses are expected to narrow significantly. The bank pointed out that the MCV series products, as the company's main products, are expected to see further volume growth as promotion and market access in various regions yield results and channel construction nears completion, driving rapid growth in non-COVID-19 vaccine revenue for the company. In addition, the company's rich R&D pipeline, with multiple products under research such as PCV13i, infant DTcp, and tetanus vaccines reaching key milestones in 2024, will help drive the company's long-term growth. The commercial prospects are promising
According to the Zhitong Finance and Economics APP, CanSino Biologics (06185) is currently up nearly 6%, as of the time of publication, it has risen by 8.66% to HKD 17.82, with a turnover of HKD 144.844 million.
CITIC Securities stated that in 2023, CanSino Biologics' profit was significantly affected by factors such as a sharp decline in revenue from the COVID-19 vaccine, returns offsetting, redundant production capacity included in operating costs, and asset impairment. The apparent loss is expected to expand, but it is anticipated that this impact will significantly decrease in 2024. Coupled with revenue growth and cost control, the overall loss is expected to narrow significantly.
The bank pointed out that the MCV series products are the company's main products. With the effectiveness of promotion and market access in various regions, channel construction is nearing completion, and the products are expected to see further volume growth, driving rapid growth in non-COVID-19 vaccine revenue for the company. In addition, the company has a rich R&D pipeline, with several key products in development such as PCV13i, infant DTcp, tetanus vaccines, reaching critical milestones in 2024. Smooth progress in the future will help the company's long-term growth, with promising commercial prospects