HK Stock Market Move | JACOBSON PHARMA(02633) opened more than 4% higher after Yinxihou, expected to increase mid-term profit by over 40% year on year.

JACOBSON PHARMA (02633) opened over 4% higher after the profit announcement, rising by 4.41% to HKD 0.71 as of the report, with a trading volume of HKD 653,200. In terms of news, JACOBSON PHARMA issued an announcement, expecting a profit increase of over 40% from its continuing operations for the six months ending September 30, 2024 compared to the same period last year. The significant increase in profit from continuing operations is mainly attributed to the strong performance of the non-patented drug business in the public and private sectors, as well as revenue contributions from new authorized products and new product launches. The improvement in operating leverage of production facilities and cost-saving measures also drove the growth. Due to the distribution of JBM HEALTHCARE (02161) shares as a special dividend in kind, the company will no longer consolidate the financial results of JBM HEALTHCARE and its subsidiaries in its financial statements. It is expected that the company's profit attributable to equity holders for the mid-term period will decrease slightly by no more than 9% compared to the same period last year.