HK Stock Market Move | EXTRAWELL PHAR(00858) surged over 45% after Yixin's rise, with expected mid-term profit of around HK$105 million and turning loss into profit year-on-year.

EXTRAWELL PHAR (00858) rose over 45% after profit announcement, reaching 0.07 Hong Kong dollars, with a total turnover of 972,700 Hong Kong dollars as of the time of publication. On the news front, EXTRAWELL PHAR announced that the group expects to achieve a profit of approximately 100 million Hong Kong dollars to 105 million Hong Kong dollars for the six-month period ending September 30, 2024, compared to a loss for the same period ending September 30, 2023. The expected turnaround from loss to profit in this period is mainly due to non-cash items, resulting from the gain on fair value changes in financial assets recognized in the income statement, while a loss was incurred in the same period in 2023 for the same non-cash item.