Tianjin Zhong Xin Pharmaceutical's earnings drop 12% to 352.3m yuan
Singapore
TRADITIONAL Chinese medicine group Tianjin Zhong Xin Pharmaceutical Group Corporation Ltd registered a 12 per cent year-on-year fall in net profit, from 399.9 million yuan (S$69.1 million) to 352.3 million yuan for the financial year ended Dec 31, 2013.
The decrease came mainly from the disposal of a subsidiary, Tianjin Central, and a decrease in share of profits from an associated company, Tianjin Smithkline & French Lab Ltd, compared to the corresponding period in FY2012. Excluding the impact of Tianjin Central and Tianjin Cinorch, operating profit of the group (excluding investment income) increased by 88 million yuan, or 41 per cent compared …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Microsoft launches lightweight AI model
Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand
Hotel Properties prices 5-year notes at 5.1%
Apple to hold launch event on May 7, with new iPads expected
OUE Reit obtains S$600 million unsecured sustainability-linked loan
US: Wall St opens higher as more earnings roll in