China Resources Pharmaceutical Group Ltd Registered Shs Unitary 144A/Reg S
03320: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$2.80 | Hyxdd | Whqvvjpwn |
CR Pharma’s Full-Year 2021 Results Slightly Below Expectations; Our Preference Is Still Sinopharm
Narrow-moat CR Pharma reported full-year results that were in line with our expectation. Revenue for the full year and second half were CNY 237 billion and CNY 122 billion, respectively, representing 18% and 10% year-on-year growth. Operating profit margins were slightly weaker than expected, mostly from elevated cost of sales but partially offset by lower sales and distribution expenses.