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Wuyi International Pharmaceutical Co Ltd Comments On FY 2012 Earnings Guidance


Friday, 1 Feb 2013 03:30am EST 

Wuyi International Pharmaceutical Co Ltd announced that it expects that there may be a decrease in the consolidated net profits for fiscal 2012 as compared to the consolidated net profits for fiscal 2011 or even record a loss for fiscal 2012. The potential impairment loss on these production facilities may arise from a possible drop in gross profit margin of the Group because of multiple challenges from the State policies and market pressure, the business environment has changed and become more difficult. Some of the products have undergone price downward adjustments causing for slightly decrease in the overall turnover of pharmaceutical products; the increase in depreciation charges and modification charges in cost of sales in part of the existing and new manufacturing facilities, resulting from the new GMP certification implemented by the State Food and Drug Administration of the People’s Republic of China on March 28, 2011; and the continuingly increasing pressure in both raw material and packing material costs in the market of the People’s Republic of China. 

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