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The latest announcement is out from Sinopharm Group Co ( (HK:1099) ).
Sinopharm Group Co. Ltd.’s subsidiary, Sinopharm Accord, has announced an estimated decline in net profit for the year ending December 31, 2024, primarily due to the impairment of goodwill and intangible assets. The downturn is attributed to changes in industry policy, market competition, and a decline in retail store traffic, leading to a provision of impairment for goodwill and other assets, significantly impacting the company’s financial performance.
More about Sinopharm Group Co
Sinopharm Group Co. Ltd. is a major player in the pharmaceutical industry, operating primarily in the People’s Republic of China and listed on the Hong Kong Stock Exchange. The company is involved in the distribution and retail of pharmaceutical products and healthcare services, focusing on aligning with industry policies and market trends.
YTD Price Performance: -2.05%
Average Trading Volume: 842
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $8.19B
See more data about 1099 stock on TipRanks’ Stock Analysis page.
