The Zhitong Finance App learned that Rongchang Biotech (09995) opened nearly 4% higher. As of press release, it rose 3.94% to HK$85.8, with a turnover of HK$13.6422 million.

According to the news, Rongchang Biotech announced its results. It is expected to achieve operating income of about 5.85 billion yuan in the first half of the year, an increase of about 433% over the previous year; it is estimated to achieve net profit of 4.7 billion yuan, turning a loss into a profit compared with the same period last year; and net profit attributable to the owners of the parent company after deducting non-recurring profit and loss is estimated to be about 4.3 billion yuan.

According to the announcement, the increase in performance is mainly due to the continuous increase in domestic sales revenue of the company's core products tetracip and viducitumab; the company and AbbVie signed an exclusive licensing agreement for RC148. AbbVie will obtain exclusive rights to develop, produce and commercialize RC148 outside of Greater China, and the company's technical licensing revenue has increased dramatically.

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