Earnings RiskEarnings growth re-inflection to take time as Jinyouli, Duomeisu, and NBP, which made up a significant portion of total finished drug sales, have major risk exposures to future VBP impact.
Financial PerformanceManagement cited two forces behind the weak results: Underestimation of VBP price cut impact on Jinyouli and Duomeisu from regional VBP programs with price linkage being adopted province by province.
Sales And RevenueSales target for new products has been adjusted downward due to delays in hospital listings.