Sinco Pharmaceuticals Holdings Ltd. (HK:6833) has released an update.
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Sinco Pharmaceuticals Holdings Ltd. reports a substantial revenue increase of 40.1% to RMB 1.53 billion during the first half of 2024, while net profit rose by RMB 4.3 million to RMB 23.9 million compared to the same period in 2023. Despite higher revenues, the gross profit margin declined from 14.0% to 11.3% due to a devaluation of the RMB against the US dollar, impacting purchase costs. The company has chosen not to issue an interim dividend, mirroring their decision from the previous year.
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