ESSEX BIO-TECH Issues Profit Warning, Anticipates Approximately 30% Drop in Interim Profit

Stock News07-17 19:10

The company has announced that for the six-month period ending June 30, 2026, it expects both revenue and profit to decline compared to the same period in 2025.

Revenue is projected to decrease by approximately 10%, and profit is anticipated to fall by around 30% relative to the prior year's figures of about HK$877 million in revenue and HK$163 million in profit.

The primary reason cited for this expected downturn is an increase in the value-added tax borne by the group following the implementation of a new VAT law in China.

Despite these challenges, the company states that it maintains robust cash flow and a solid financial position sufficient to meet its operational requirements.

As of June 30, 2026, the group's cash and cash equivalents stood at approximately HK$807 million.

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