ESSEX BIO-TECHNOLOGY(01061.HK): Interim Revenue and Profit Expected to Drop by Approximately 10% and 30% Respectively

NewTimeSpace News: On 17 July 2026, ESSEX BIO-TECHNOLOGY(01061.HK) issued a profit warning. It forecasts that interim revenue and profit will fall by around 10% and 30% year-on-year from HK$877 million and HK$163 million recorded in the same period last year.

As stated in the announcement, the downturn is mainly attributed to China’s new VAT law effective 1 January 2026, which revised the tax treatment for pharmaceutical wholesalers selling general biological products. Instead of the optional simplified tax calculation at 3%, such sales are now subject to the standard 13% VAT rate.

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