HK Stock Market Move | REMEGEN (09995) fell more than 3%, with an expected net loss of approximately 1.47 billion yuan for the year 2024.

REMEGEN (09995) fell by more than 3%, dropping by 3.01% to HK$12.26 at the time of publication, with a turnover of HK$146.679 million. On the news front, REMEGEN announced that it expects its operating income for the fiscal year 2024 to be approximately RMB 1.715 billion, an increase of about 58% year-on-year. It also expects a net loss attributable to the owners of the parent company of approximately RMB 1.47 billion, a decrease of about 3% year-on-year; and a non-IFRS net loss of approximately RMB 1.498 billion, a decrease of about 3% year-on-year. The announcement stated that the company's new drug research and development pipeline is continuing to progress, with several innovative drugs in key trial stages. Research and development expenses are increasing, while sales of TACI-FC and VDST monoclonal antibodies are growing rapidly, with a continuous increase in gross profit margin and a significant decrease in sales expense ratio. Therefore, the company is expected to continue to reduce its net loss in fiscal year 2024, showing a trend of decreasing losses, both before and after deducting non-recurring gains and losses.