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Story summary
- Shandong Xinhua Pharmaceutical Co., Ltd. saw its shares rise over 200% after a late-2022 Douyin ibuprofen dance.
- In the first three quarters of 2025, net profit fell 26% year-on-year to 256.2 million yuan (US$37 million) as price cuts to maintain market share amid oversupply and weakening demand drove the downturn that began in 2024.
- The initial surge coincided with China’s shift away from zero-Covid, lifting lockdowns and reopening venues.
