China Shineway Pharmaceutical (02877) said its profit attributable to owners for the six months ended 30 June 2016 dropped 28.3% year-on-year to Rmb276 million.
Basic earnings per share were Rmb33 cents.
The turnover was Rmb932 million, a decrease of 16% from a year earlier. Gross profit margin reduced to 63.9% as compared to 65.8% of the corresponding period of last year.
The decrease in profit was mainly attributable to the decreases of average selling price and sales volume of the Group's pharmaceutical products as compared with those of the corresponding period in 2015; amortization expense of intangible assets arising from the acquisitions during restructuring of new business areas of the Group caused the overall administrative expenses to increase slightly as compared to the same period of last year and the Group has strengthened the development of new products leading to an increase in research and development costs for the period.
The proposed interim dividend is Rmb11 cents (2015: Rmb11 cents) per share, payable on 28 October 2016.
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