Asymchem Laboratories Faces Profit Decline but Grows Orders

Asymchem Laboratories (Tianjin) Co., Ltd. Class H (HK:6821) has released an update.

Asymchem Laboratories (Tianjin) Co., Ltd. has issued a profit warning for the first half of 2024, with an expected net profit drop of 67.39%-71.54% compared to the previous year, due to a lack of large orders and a downturn in the biopharmaceutical financing environment. Despite challenges, the company reported slight growth in its small molecule CDMO business and a year-on-year increase of over 20% in new orders, indicating resilience amidst a competitive market.

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