[ET Net News Agency, 19 June 2019] Tianda Pharmaceuticals Limited (00455) said the
group expects to record a significant decline in the profit attributable to owners of the
parent for the year ended 31 March 2019 as compared with the profit attributable to owners
of the parent of HK$10 million for the year ended 31 March 2018.
The decline is due to (1) the group's traditional Chinese medicine (TCM) business was at
the teething stage since the completion of acquisitions in recent years. The operating
loss of TCM business offset the net profit generated from the pharmaceuticals and
biotechnology business; (2) the group's major product, Tuoping (Valsartan capsules), had
to undergo Conformity Assessment Project during the current financial year and led to a
significant increment in research and development costs; and (3) a gain on disposal of
available-for-sale investments of HK$8.3 million was recorded in the last corresponding
year, but no such gain was recognised during the current financial year. (RC)