Summary by Moomoo AI
CONXINO BIO RELEASED ITS 2023 ANNUAL RESULTS REPORT ON FEBRUARY 23, 2024, SHOWING THAT THE COMPANY'S OPERATING INCOME FELL 65.49% COMPARED TO THE SAME PERIOD LAST YEAR TO RMB357.08 BILLION. The company's net loss attributable to its parent owners increased 59.14% to RMB 1,447.30 billion. The loss was increased primarily due to lower market demand for COVID-19 vaccines and the accounting and estimation of the amount of recoveries for COVID-19 vaccine products. In addition, the company's operating costs rose and depreciation tests were carried out on inventories and long-term assets, accounting for depreciation losses. Despite the increase in revenue from sales of brain vaccine products, a sharp decline in COVID-19 vaccine revenue led to a decrease in overall revenue. The total assets of the company and the interests attributed to the owners of the parent company decreased by 18.22% and 21.31%, respectively. Consino Bios reminds investors that the financial data in the announcement are preliminary audit data, not audited or reviewed by independent auditors and will be disclosed in the 2023 Annual Report.
