China Biologic -2% as it cuts H2 guidance

• China Biologic Products (NASDAQ:CBPO) is down 2% after hours after Q2 earnings where it guided down for the year bsed on worse than expected results in the first half.
• The company faces a number of challenges ahead, it says, including persisting regulatory headwinds, intense competition in China's plasma industry, bottom-line pressure from long-term investments, and a one-time provision tied to facilities and fixed assets.
• It now expects adjusted income from operations to increase 0-2% in renminbi terms, and net income to fall by 2-4%. (Excluding TianXinFu, operating income will fall 16-18% and net income will fall 19-21%, it says.)
• Q2 EPS of $1.17 was short of one analyst estimate for $1.26; revenues of $120.38M, though, grew 25.5% in renminbi terms and exceeded the one estimate for $116.2M.
• Conference call to come Monday at 7:30 a.m. ET.
• Press release