Summary by Moomoo AI
JUN SHENG TAI PHARMACEUTICALS (THE “COMPANY”) ANNOUNCED ITS ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023, SHOWING THAT THE LOSS BEFORE TAX AND LOSS FOR THE YEAR WERE RMB939,230 THOUSAND AND RMB939,306 THOUSAND, RESPECTIVELY, AN INCREASE OF 393.8% YEAR-ON-YEAR. Adjusted net loss for the year was RMB288,443 thousand, an increase of 56.9% year-on-year. The Company was listed on the Main Board of the Hong Kong Stock Exchange Limited on 22 December 2023. The full year results reflect the increase in R&D costs, as well as the one-time costs associated with the listing. The company focuses on the development of medical products and has independently developed a pipeline of 5 patent candidates covering 9 indications, 5 of which are in the clinical stage. Looking ahead, the Company will continue to drive candidate drug pipelines through clinical development and seek to expand the pipeline's prescriptive coverage.