HK Stock Market Move | SINOPHARM (01099) falls nearly 4% in the afternoon, with first quarter net profit attributable to shareholders dropping nearly 3% year-on-year.

Sinopharm (01099) fell nearly 4% in the afternoon, temporarily leading the decline in blue-chip stocks. As of press time, it fell 3.95% to HK$18.46, with a turnover of HK$149 million. On the news front, Sinopharm released its quarterly performance for the three months ending March 31, 2026, with total operating income of 140.766 billion yuan, a year-on-year decrease of 0.63%; net profit attributable to owners of the parent company was 1.414 billion yuan, a year-on-year decrease of 2.95%. Citigroup had previously pointed out in a research report that Sinopharm's management expected that sales of pharmaceutical distribution business would remain flat year-on-year this year, while sales of medical equipment distribution and retail business were expected to recover further and achieve positive growth.