FAST NEWS: Jiangxi Copper Announces Strong Start to 2022

The latest: Jiangxi Copper Co. Ltd. (0358.HK) late on Wednesday announced major operating figures for January to February, estimating it posted a net profit of about 950 million yuan ($153 million) for the two-month period, up 150% year-on-year. Looking up: During the announcement period, which coincided with the Chinese New Year, the company estimated its revenue grew 40% year-on-year to around 76.2 billion yuan, as production and operations remained stable. Take Note: The company announced a positive profit forecast at the end of January, estimating its net profit rose between…

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FAST NEWS: Drug Discovery Business Helps Viva Biotech Swing Back to Profit

The latest: Viva Biotech Holdings (1873.HK) released a positive profit forecast, saying it posted a net profit of 300 million yuan ($48.2 million) or more last year, reversing a loss of 380 million yuan in 2020. Looking up: The company said its revenue jumped last year by more than 180% to 2 billion yuan year-over-year, citing bigger contributions from its drug discovery services and the expansion of its business scope from front-end drug discovery to also include the contract development and manufacturing organization (CDMO) business for third-party clients. Take Note:…

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FAST NEWS: 361 Degrees Says Its Profit Rose More Than 35% in 2021

The latest: Sportswear designer and retailer 361 Degrees International Ltd. (1361.HK) released a positive profit forecast during the midday trading break on Thursday, saying it expects its profit attributable to shareholders for the full-year 2021 to rise more than 35% from 2020. It means the company will report earnings of at least 560 million yuan ($88 million) for the year, versus a 415 million yuan profit for 2020. Looking up: The company said the improved results were due to higher revenues, continued improvement in operating margins, interest savings from the…

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FAST NEWS: Simcere Pharma Says 2021 Profit Doubled, But Shares Fall

The latest: Simcere Pharmaceutical Group Ltd. (2096.HK) released a positive profit alert on Monday evening, estimating its net profit last year was in the range of 1.48 billion ($233 million) to 1.54 billion yuan, representing year-on-year growth of 121% to 130%. Looking up: The strong profit growth owed partly to the rapid growth of Sanbexin, a self-developed innovative drug that was approved for sale in China in July 2020. Simcere also credited a gain from the sale of its entire stake in Simgene Group Ltd., and gains from fair value…

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FAST NEWS: Xinjiang Xinxin Mining Forecasts Big Rise in 2021 Profit

The latest: Xinjiang Xinxin Mining Industry Co. Ltd. (3833.HK) issued a positive profit forecast on Tuesday morning, estimating it will post an unaudited profit of 491 million yuan ($77 million) for 2021, up about 174% year-on-year. Looking up: Higher operating revenues, much of that due to higher commodity prices, together with production process optimization and lower financing costs contributed to the significant increase in the company’s latest results. Take Note: The spread of the Covid-19 omicron variant continues to affect the global economy, as developed countries also contemplate major changes…

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FAST NEWS: 3SBio Sees Profit Doubling on Surging Revenues

The latest: 3SBio Inc. (1530.HK) released a positive profit forecast on Monday evening, estimating its net profit rose 100% to 120% for 2021, while its profit attributable to equity shareholders rose 90% to 110%. Looking up: The group’s strong 2021 results owed mainly to a significant contribution to both profit and revenue growth from its core products Tpiao, Mandi and Yisaipu, as well as lower expenses. The big profit gain marked a significant increase from the company’s 28% profit growth in the first half of the year. Take Note: Of…

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FAST NEWS: IMAX China Forecasts $39 Million Profit Last Year

The latest: Greater China cinema operator IMAX China Holding Inc. (1970.HK) released a positive profit forecast on Monday, saying it expects to post a net profit for last year of about $37.5 million to $39 million, a significant improvement from a loss of $27 million in 2020. Looking up: The group’s return to profitability was mainly due to an increase in the number of cinema system installations last year, and the restoration of box office revenues to approximately $240 million for the company from the reopening of IMAX theaters in…

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FAST NEWS: JPMorgan Discloses Major Stake in New Horizon Health

The latest: JPMorgan disclosed it purchased 701,600 shares in medical products maker New Horizon Health Ltd. (6606.HK) on Jan. 19, raising its stake above the 5% threshold that requires it to disclose its holdings. However, the bank reduced its stake by 427,500 shares the next day, bringing its shareholding back below the 5% reporting threshold. Looking up: JPMorgan’s purchase marks a strong vote of confidence in New Horizon,  which issued a positive profit forecast in mid-January saying its revenue last year doubled. Smaller stock buyers will often take their cues…

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