Simcere Pharma (2096.HK) Announces a Positive Profit Alert

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Simcere Pharmaceutical Group Limited

Feb 23, 2022, 03:22 ET

HONG KONG, Feb. 23, 2022 /PRNewswire/ -- Simcere Pharmaceutical Group Limited (the "Company", together with its subsidiaries, the "Group"; stock code: 2096.HK), announces a positive profit alert.

Based on a preliminary assessment of the Group's unaudited consolidated management accounts for the year ended December 31, 2021, it is expected that the Group will record a profit attributable to equity shareholders of the Company of approximately RMB1,480 million to RMB1,540 million for the year ended December 31, 2021, representing an increase of approximately RMB810 million to RMB870 million, or approximately 121% to 130%, as compared to the profit attributable to equity shareholders of the Company for the year ended December 31, 2020. Such increase was mainly attributable to: (i) the rapid increase in revenue from Sanbexin (edaravone and dexborneol concentrated solution for injection), a Class I innovative drug developed originally which was launched in July 2020; (ii) the gain recorded by the Group from the disposal of its entire equity interest in Simgene Group Limited, and (iii) increased investment gains due to the fair value changes of portfolios held by the Group. Simultaneously, the impact of the profit above is partially counteracted by the following factors: (i) the continuous increase in the research and development costs for rapid advancement of the clinical pipeline in 2021; and (ii) the increase in the marketing expenses for accelerating the promotion of the newly launched products more efficiently, such as the innovative drug Sanbexin.

The Company is still in the process of finalising the annual results of the Group for the year ended December 31, 2021. The information contained in this announcement is based solely on the preliminary assessment of the Group's unaudited consolidated management accounts for the year ended December 31, 2021 and is subject to finalisation and other potential adjustments, if any, and has not been reviewed or confirmed by the Group's auditors or the audit committee of the Board. Shareholders and potential investors of the Company should refer to the Group's annual results announcement for the year ended December 31, 2021, which is expected to be published by the end of March 2022.

Media contact:

Song CAO
+86-25-85566666*8841
[email protected]

SOURCE Simcere Pharmaceutical Group Limited