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DBS has lowered its target price for tongrentangcm (03613) to HKD 14.8 and maintained its "shareholding" rating.
Due to the decline in traditional Chinese medicine sales, Daiwa has lowered its profit forecast for Tongrentang CM in 2024-2030 by 8-11%.
Some mainland pharmaceutical stocks rose, with Sihuan Pharm (00460) up 3.85%. Institutions pointed out that drug price monitoring and governance are expected to help the industry's health.
Mainland pharmaceutical stocks have risen partially, with Sihuan Pharm (00460) up 3.85%, Haohai Biotech (06826) up 2.68%, Shanghai Pharma (02607) up 2.08%, Sinopharm (01099) up over 1%, TongrentangCM (03613) and Chinares Pharma (03320) following suit. Citic Sec pointed out that many places have launched drug price comparison platforms recently, but the bank believes that comparison does not mean price limitation. The Medical Insurance Bureau launched a special campaign of "going online stores, checking drug prices, comparing data, and cracking down on governance". The regulation of drug prices is not only about seeking low stock price, but also about eliminating price discrimination.
TONGRENTANGCM To Go Ex-Dividend On June 12th, 2024 With 0.33 HKD Dividend Per Share
Tong Ren Tang Chinese Medicine Appoints CEO
Tong Ren Tang Sinopharm (03613) will pay a final dividend of HK$0.33 per share on June 24
According to the Zhitong Finance App, Tong Ren Tang Sinopharm (03613) announced that it will pay a final dividend of HK$0.33 per share for the year ended 31 December 2023 on June 24, 2024.
TONGRENTANGCM: Postponement and Rescheduling of Date of Annual General Meeting and Change of Book Closure Period
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