China's CanSino falls on downbeat forecast as demand for COVID vaccines drop

Cansino Biologics

31/01/2023 02:53

** Hong Kong-listed shares of China's CanSino Biologics Inc
 6185.HK  fall as much as 8% to HK$64.20, mark the biggest
intraday pct drop since Dec 19, if losses hold
    ** Stock hit the lowest since Jan 3 and is the third-biggest
pct decliner in the Hang Seng Composite Index  .HSCI  
    ** Tianjin-based Cansino Biologics estimates an up to 996
mln yuan ($147.48 mln) net loss for 2022, vs a profit of 1.9 bln
yuan in the previous year as COVID-19 vaccine demand decreases
while sales expenses increase  urn:newsml:reuters.com:*:nFWN34F214
    ** Says demand for COVID-19 vaccines has dropped
significantly compared with a year-ago period with the growth
rate of COVID-19 vaccination worldwide decelerating while the
supply of COVID-19 vaccines exceeding demand in some regions
    ** Shanghai-listed shares  688185.SS  drop as much as 7.6%
to 132.05 yuan, their lowest since Oct 25
    ** The Hang Seng Commerce & Industry Index  .HSNC  edges up
0.2%, while the healthcare index  .HSCIH  falls 1.7%
    ** The Hang Seng Composite Index  .HSCI  gains 0.3% and the
Hang Seng Index  .HSI  climbs 0.4%
    ($1 = 6.7534 Chinese yuan)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))