Changes in Hong Kong stocks | Xianruida Medical-B (06669) falls by more than 10% and is expected to turn a profit and loss of up to RMB 80.9 million in the first half of the year and terminate clinical projects to generate impairment provisions

The Zhitong Finance App learned that Xianruida Medical-B (06669) fell by more than 10%. As of press release, it had a decrease of 10.33% to HK$6.9, with a turnover of HK$845,300.

According to the news, on the evening of August 12, Xianruida Healthcare issued a profit warning stating that it is expected to make a net loss of no more than RMB 80.9 million for the six months ending June 30, 2026. The net profit for the same period last year was about 88.6 million yuan, changing from profit to loss over the same period last year. Mainly due to the termination of the US clinical trial program for ACoArt Litos® paclitaxel coated percutaneous angioplasty (PTA) balloon catheters, which resulted in a one-time non-cash impairment loss and a one-time expense provision relating to the termination of the clinical program, totaling approximately RMB 151 million.

The company pointed out that after review by management, clinical projects have been terminated in view of future changes in the product pipeline and local market dynamics in the US that may limit the profitability of this product; management believes that allocating resources to other future product pipelines is commercially preferable. The Group is exploring new overseas pipelines with its business partners and will provide further details in due course.