Xinjiang Baihuacun Co., Ltd. Provides Earnings Guidance for the Year 2017
January 31, 2018
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Xinjiang Baihuacun Co., Ltd. provided earnings guidance for the year 2017. For the year, the company predicts an decrease of between RMB 54 million and RMB 29 million and a year-on-year decrease of between 39% and 21% in the net profit owned by shareholders of the listed company in 2017 compared with the same period of the year before; and a year-on-year increase of between RMB 252 million and RMB 277 million in the net profit belonging to shareholders of the listed company after excluding extraordinary profit and loss, without considering possible influence on depreciation of goodwill on profit and loss. Upon special audit of performance promise, Nanjing Huawei Pharmaceutical Technology Developing Co., Ltd. purchased by the Company in 2017 has not completed the profit promise, which may lead to depreciation of goodwill up to RMB 0.68 billion, with the maximum predicted loss of net profit belonging to shareholders of the listed company to be RMB 595 million.
Xinjiang Bai Hua Cun Pharma Tech Co Ltd is a China-based company principally engaged in pharmaceutical services. The Company's main business is the research and development, registration and application of small molecule chemicals and the development of peptide drugs. The Company is engaged in the early discovery and screening of new drugs, drug clinical trials, biological sample analysis, medicine testing services, active pharmaceutical ingredient (API) and intermediate supply. The Company is also engaged in leasing and property services. The Company mainly conducts business within the domestic market.