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Modern Chinese Medicine Group Co., Ltd. (HKG:1643) Stock Rockets 30% As Investors Are Less Pessimistic Than Expected
Hong Kong's Department of Health: To develop Hong Kong into a gateway for the internationalization of traditional Chinese medicine and Chinese herbal medicine.
Secretary for Food and Health of the Hong Kong Special Administrative Region, Dr. Constance Chan, stated that in order to promote the standardization and internationalization of traditional chinese medicine, Hong Kong aims to become a gateway for the internationalization of traditional chinese medicine.
Improved Revenues Required Before Modern Chinese Medicine Group Co., Ltd. (HKG:1643) Stock's 26% Jump Looks Justified
MODERN CHI MED: 2024 INTERIM REPORT
Modern Chinese Medicine Group Swings to Loss in H1
The mid-year earnings of Modern Traditional Chinese Medicine Group (01643.HK) are approximately 76.6 million yuan, a year-on-year decrease of about 57.5%.
Glory Holdings announced on August 22 that in the interim performance for the six months ending June 30, 2024, the revenue was approximately RMB 76.6 million, a year-on-year decrease of approximately 57.5%. The company's owners' losses amounted to RMB 6.9 million during the period, while a profit of RMB 27.6 million was recorded in the same period. Basic and diluted (loss) / earnings per share changed from a profit of 4.6 cents in the same period to a loss of 1.14 cents in the current period. The decrease in revenue was mainly due to the temporary suspension of production in the preparation workshop for renovation. The kidney-nourishing pill and the qi-blood double-nourishing pill are the two major products for the current period and the same period.
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