- China’s automobile industry association has downgraded its sales forecast for 2022, affected by a drop in commercial vehicle demand, Reuters reported.
- The world’s largest car market has been hit by business restrictions imposed to curtail the spread of COVID-19 cases.
- China Association of Automobile Manufacturers forecasts to sell 27 million cars in 2022, a 3% increase from 2021.
- The association had previously predicted 27.5 million unit sales.
- It sees a 16% fall in sales of commercial vehicles to 4 million units.
Junshi Biosciences Hits Revenue Roadblock Amid Covid Drug Delay
Key Takeaways:
The company logged a revenue fall of 55% in the first half of the year and posted a loss of $131 million
Phase 3 clinical trials for its Covid-19 oral drug wrapped up in May but the company has still not yet filed an application to market the product
By Molly Wen
