HK Stock Market Move | ESSEX BIO-TECH (01061) falls nearly 13% after issuing profit warning, expected mid-term profit to decrease by about 30% year-on-year.

ESSEX BIO-TECH (01061) fell nearly 13% after issuing a profit warning, and at the time of writing, it fell by 12.89%, closing at 2.5 Hong Kong dollars, with a market value of 243.22 million Hong Kong dollars. On the news front, on July 17th, ESSEX BIO-TECH announced that it expects its revenue and profit for the six months ending June 30, 2026 (the mid-2026 period) to decrease by around 10% and 30% respectively compared to the same period in 2025, with revenue at around 877 million Hong Kong dollars and profit at around 163 million Hong Kong dollars, mainly due to an increase in value-added tax burden following the implementation of new VAT laws in China. Despite the above situation, the company maintains a strong cash flow and financial condition to meet its business needs. As of June 30, 2026, the company's cash and cash equivalents were around 807 million Hong Kong dollars.