HK Stock Market Move | INNOCARE (09969) rises more than 3%, expected total annual operating revenue to increase by about 37% year-on-year, and net losses narrowed by about 30%.

INNOCARE (09969) rose more than 3%, rising 3.62% to HK$5.44 as of the time of writing, with a turnover of HK$101,002,000. On the news front, INNOCARE announced that it expects the annual revenue of Osimertinib in 2024 to reach about 1.001 billion RMB, an increase of approximately 49% compared to the same period last year. The total operating revenue is expected to be around 1.01 billion RMB, an increase of about 37% compared to the same period last year; the net loss attributable to owners of the parent company is expected to be about 443 million RMB, a decrease of around 30% compared to the same period last year. The announcement stated that the main reason for the performance changes in 2024 is that all three indications of the core product Osimertinib have been covered by medical insurance, achieving a sales revenue growth of approximately 49%; the company continues to increase research and development investment and has made significant progress in multiple pipelines, with an annual increase in R&D investment of about 8.4%; and unrealized exchange losses have decreased to approximately 33 million RMB.