Stock Track | HAOHAI BIOTEC Shares Slump 12% After Dismal Q3 Earnings Miss

Stock Track

Oct 29, 2024

Shares of HAOHAI BIOTEC (06826.HK), a leading Chinese biotechnology company, plummeted over 12% on Friday following the release of the firm's disappointing third-quarter earnings results.

According to its latest filing with the Hong Kong Stock Exchange, HAOHAI BIOTEC reported a net profit attributable to shareholders of 105.6 million yuan ($15.9 million) for the quarter ended September 30th, 2024. This represented a staggering 13.13% decline compared to the same period last year. Earnings per share also dropped by 11.76% year-over-year to 0.45 yuan.

While the company's revenue increased marginally by 0.22% to 670.4 million yuan ($100.8 million), HAOHAI BIOTEC's weaker profitability clearly overshadowed the modest top-line growth. This significant miss against market expectations caused widespread concerns among investors, prompting a massive sell-off that saw the firm's shares plunge 12.24% to close at HK$30.25 on the day.

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This represented a staggering 13.13% decline compared to the same period last year. Earnings per share also dropped by 11.76% year-over-year to 0.45 yuan.</p>\n\n<p>While the company's revenue increased marginally by 0.22% to 670.4 million yuan ($100.8 million), HAOHAI BIOTEC's weaker profitability clearly overshadowed the modest top-line growth. This significant miss against market expectations caused widespread concerns among investors, prompting a massive sell-off that saw the firm's shares plunge 12.24% to close at HK$30.25 on the day.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"06826","symbol_name":"昊海生物科技","start_time":0,"source_url":"","article_id":"1151828310","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1151828310","pubTimestamp":1730136031,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of HAOHAI BIOTEC , a leading Chinese biotechnology company, plummeted over 12% on Friday following the release of the firm's disappointing third-quarter earnings results.According to its latest filing with the Hong Kong Stock Exchange, HAOHAI BIOTEC reported a net profit attributable to shareholders of 105.6 million yuan  for the quarter ended September 30th, 2024. This represented a staggering 13.13% decline compared to the same period last year. Earnings per share also dropped by 11.76%","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"06826":"昊海生物科技"},"translate_title":"股票赛道昊海生物科技第三季度盈利未达预期，股价暴跌12%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"06826":1},"content_text":"Shares of HAOHAI BIOTEC (06826.HK), a leading Chinese biotechnology company, plummeted over 12% on Friday following the release of the firm's disappointing third-quarter earnings results.\nAccording to its latest filing with the Hong Kong Stock Exchange, HAOHAI BIOTEC reported a net profit attributable to shareholders of 105.6 million yuan ($15.9 million) for the quarter ended September 30th, 2024. This represented a staggering 13.13% decline compared to the same period last year. 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