OrbusNeich Medical Group Holdings (HKG:6929) expects its profit and adjusted profit attributable to owners to decline by 20% year on year in the six months ended June 30, a Wednesday filing with the Hong Kong Exchange said.
The company attributed the decrease in profit to a decrease in revenue from the sales of balloons in the USA and China, an increase in expenses resulting from the new subsidiaries acquired in late 2023, and a decrease in government funding for the company's research and development projects.
The company's shares were up over 3% on Wednesday's close.
Price (HKD): $3.35, Change: $+0.11, Percent Change: +3.40%
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