HK Stock Market Move | After TRAD CHI MED (00570) released its results, the stock price fell by more than 4%, with an annual loss of 458 million yuan, turning from profit to loss year-on-year.

TRAD CHI MED (00570) fell more than 4% after the performance report, dropping to 3.72% at the time of publication, reporting HK$1.81, with a turnover of HK$31.219 million. In terms of news, TRAD CHI MED released its annual performance with a turnover of HK$14.745 billion, a year-on-year decrease of 10.7%; gross profit of HK$7.091 billion, a year-on-year decrease of 9.7%; and a net loss of HK$458 million for the year, turning from a profit to a loss. The decline in operating income was mainly due to the decrease in prices of Chinese medicine formula granules in centralized procurement and intensified market competition. The company's losses were mainly due to impairment losses, including a goodwill impairment of HK$495 million and other intangible assets impairment of HK$614 million, totaling over HK$1.1 billion.