MB-SKBB@EC2609A

BoA Securities Cuts Revenue Forecast for Kolon Bio's sac-TMT, Raises Target Price

CICC Maintains Target Price for Kolon Biotech, Positive on Sac-TMT Prospects

Sichuan Kelun-Biotech's sac-TMT Approved by NMPA for Breast Cancer Treatment

Clopen Bio's sac-TMT Approved for Market and Partners with Crescent Biopharma

Kolon Bohati's Lunca Sandezumab Combined with Pembrolizumab Receives Breakthrough Therapy Designation

Kolon Biotech's ADC Drug IND Application Approved

Three Innovative Drugs of Kolon Biotech Included in National Medical Insurance Directory

Colontop Biotech Reaches Settlement with Yialink Bio

Kazumab Therapeutics-B's Three Products Included in National Medical Insurance Directory

Kolon Biotech's HER2-targeted ADC drug Bozutuximab Fails to Obtain Approval for Third-line HER2 Positive Breast Cancer

Kolon Biologics and Crescent Enter into Mutually Beneficial PD-1/VEGF+ADC License Agreement

CoLon Biotech and Crescent Biopharma Enter into Collaboration for Oncology Drug Development

Bernstein Analyst Gives Buy Rating to Sichuan Kelun Pharmaceutical H-Share

Colonn Biotech's Core Product Sacituzumab Govitecan Shows Positive Results in NSCLC Phase III Clinical Trial

Morgan Stanley Upgrades Kaiwen Biotech's Rating and Price Target

KlauenBiotec and BailingTianheng Showcase ADC Clinical Data at ESMO

BOA Securities Raises COLUPHARM's Target Price to HKD 522

KluanboTai Announces Multiple Clinical Research Results at ESMO Congress

Kolon Biotech Achieves A Rating in Huazheng Index ESG Ranking, Placing Sixth

KO YO GROUP

GEOTECH HLDGS

CH CITY INFRA

PUTIAN COMM

CHINA INFO TECH

AGTECH HOLDINGS

MATRIX HOLDINGS

KFM KINGDOM

SANERGY GROUP

YUNKANG GROUP

06990

Bank of America Securities raised the target price for SKB BIO from 470 yuan to 479 yuan, while lowering the revenue forecasts for 2026 and 2027 by 5% and 6%, respectively. The company's sac-TMT drug was recently approved for the treatment of HR-positive/HER2-negative breast cancer and has been included in the national medical insurance catalog, but the annual treatment cost assumption has been adjusted downward due to medical insurance price adjustments. Bank of America Securities reiterated its "Neutral" rating on the company, believing that business progress is in line with expectations but faces intense competition

AASTOCKS

SKB BIO-B

Bank of America Securities raises the target price for SKB BIO to 479 yuan and lowers revenue forecasts

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Mainland Chinese investors have increased their investments in Hong Kong-listed drug stocks, with the Hang Seng Southbound Connect Hong Kong Innovative Drug Index rising about 9% recently. CSPC Pharmaceutical Group and Sichuan Kelun-Biotech saw significant gains. Innovent Biologics announced a major collaboration with Eli Lilly worth up to $8.85 billion, enhancing its drug development process. This trend reflects a shift in how Chinese drug makers engage with global partners, as they gain more control over the development of their medicines amid a competitive pharmaceutical landscape.

南华早报

KELUN PHARMA

CSPC PHARMA

Eli Lilly

INNOVENT BIO

E Fund Hang Seng SCHK Innovative Drug ETF

Huatai-PB Hang Seng Innovative Drugs Industry ETF(QDII)

ICBCCS SSE STAR Biology and Medicine ETF

iShares US Pharma

Yinhua CSI Innovative Drugs Industry ETF

Penghua CSI HK Connect Health Care Composite ETF

Penghua SSE STAR Biology and Medicine ETF

ChinaAMC CSI Biotechnology Theme ETF

Huaan Hang Seng Biotech ETF

China Southern Hang Seng Biotech ETF(QDII)

GF CSI HK Innovative Drugs Industry ETF(QDII)

Guotai CSI Hugangshen Innovative Drugs Industry ETF

Hwabao WP Hang Seng SCHK Innovative Drug Select ETF

Tibet Dongcai CSI Hugangshen Innovative Drugs Industry ETF

E Fund CSI Biotechnology Theme ETF

China Universal CNI HK Connect Innovative Drugs Industry ETF

Ping An CSI Medicine and Medical Device Innovation ETF

Bosera Hang Seng Health Care ETF(QDII)

ICBCCS CNI HK Connect Innovative Drugs ETF

Guotai SSE STAR Brand Name Drug ETF

ChinaAMC Hang Seng Biotechnology Technology ETF(QDII)

Tianhong CNI BIOMEDICINE ETF

China Merchants CSI Biotechnology Theme ETF

E Fund CSI 300 Health Care ETF

Founder Fubon CSI Medicine and Medical Device Innovation ETF

Fullgoal Hang Seng SCHK Innovative Drug & Healthcare ETF

Guotai CSI Bio-medicine ETF

Yinhua CNI HK Connect Innovative Drugs ETF

ChinaAMC SSE STAR Biology and Medicine ETF

ChinaAMC SSE Health Care ETF Initiating Fund

Hwabao WP CSI Pharmaceuticals ETF

Bosera Hang Seng SCHK Innovative Drug Select ETF

Mainland China’s investors pour into Hong Kong-listed drug stocks

Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. has received approval from the National Medical Products Administration (NMPA) in China for its antibody-drug conjugate, sacituzumab tirumotecan (sac-TMT), to treat adult patients with unresectable or metastatic HR+/HER2- breast cancer who have undergone at least one prior systemic therapy. This is the fourth approved indication for sac-TMT by the NMPA.

Reuters

Minsheng Royal CSI Biotechnology Theme ETF

Sichuan Kelun-Biotech Receives NMPA Approval for Sacituzumab Tirumotecan in Advanced HR+/HER2- Breast Cancer

Goldman Sachs report indicates that the mainland healthcare sector will continue to be strong, but investors need to pay attention to the value of the R&D pipeline. Outperformance depends on key data and earnings visibility. Positive on CDMO companies, upgrading WuXi AppTec and WUXI XDC ratings to "Buy." A selective strategy is recommended for biotech and pharmaceutical companies, recommending SKB BIO-B, HENLIUS, and HANSOH PHARMA. The medical device sector maintains a neutral stance, recommending ANGELALIGN and WEIGAO GROUP. A cautious attitude is taken towards the medical services sector, downgrading HYGEIA HEALTH and JXR ratings

HANSOH PHARMA

HENLIUS

WEIGAO GROUP

HYGEIA HEALTH

WuXi AppTec

ANGELALIGN

Dacheng CSI All Share Health Care Equipment and Services ETF

Hwabao WP CSI Medical Service ETF

WUXI XDC

WUXI APPTEC

Goldman Sachs: The mainland medical sector will rely more on data and profit visibility this year, optimistic about CDMO companies

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GIGADEVICE(03986) rose 6.14%, with a trading turnover 758.6 Million HKD, and a year-to-date rose 100.5%. GANFENGLITHIUM(01772) rose 5.54%, with a trading turnover 926.9 Million HKD, and a year-to-date rose 26.5%. ANTA SPORTS(02020) fell 4.18%, with a trading turnover 2.8 Billion HKD, and a year-to-date fell 1.8%. NTES-S(09999) fell 3.7%, with a trading turnover 2.0 Billion HKD, and a year-to-date fell 3.1%.

- The Hang Seng Index rose by 0.37%, with a year-to-date gain of 3.7%.  
- The Hang Seng Tech Index increased by 1.11% and has a year-to-date gain of 4.2%.  
- Notable stock movements include a 6.14% increase for Zhao Yi Innovation and a 4.18% decrease for Anta Sports, with the former seeing a 100.5% gain this year and the latter a 1.8% decline.

Top Gainers & Losers

GIGADEVICE

GANFENGLITHIUM

SD GOLD

HUA HONG SEMI

ZHAOJIN MINING

ANTA SPORTS

NTES-S

AKESO

CHINA RES LAND

Top 5 HK Stock Gainers/Losers (>100B) (1.21)

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01880

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09626

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CHINA EAST AIR(00670) rose 9.2%, with a trading turnover 216.5 Million HKD, and a year-to-date rose 6.9%. CTG DUTY-FREE(01880) rose 6.65%, with a trading turnover 350.2 Million HKD, and a year-to-date rose 10.8%. MINIMAX-WP(00100) fell 13.7%, with a trading turnover 649.0 Million HKD, and a year-to-date rose 129.1%. BILIBILI-W(09626) fell 6.85%, with a trading turnover 1.7 Billion HKD, and a year-to-date rose 25.6%.

- The Hang Seng Index fell by 1.05% but has increased by 3.6% year-to-date, while the Hang Seng Tech Index declined by 1.24% with a year-to-date growth of 4.2%.  
- China Eastern Airlines (00670) soared by 9.2% with a transaction volume of 220 million HKD, marking a year-to-date rise of 6.9%.  
- Conversely, MINIMAX-WP (00100) dropped by 13.7%, yet boasts a significant year-to-date increase of 129.1%.

CHINA EAST AIR

CTG DUTY-FREE

CHINA SOUTH AIR

CHERY AUTO

MINIMAX-WP

BILIBILI-W

SINO BIOPHARM

WUXI BIO

Top 5 HK Stock Gainers/Losers (>100B) (1.19)

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01698

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SKB BIO-B(06990) rose 7.44%, with a trading turnover 593.4 Million HKD, and a year-to-date rose 20.8%. AKESO(09926) rose 7.31%, with a trading turnover 1.4 Billion HKD, and a year-to-date rose 14.3%. TME-SW(01698) fell 5.5%, with a trading turnover 149.2 Million HKD, and a year-to-date fell 2.8%. GF SEC(01776) fell 4.09%, with a trading turnover 1.3 Billion HKD, and a year-to-date rose 7.9%.

- The Hang Seng Index fell by 0.94%, with a year-to-date increase of 3.2%.  
- The Hang Seng Tech Index declined by 1.49%, gaining 4% so far this year.  
- Notably, Colunbotai Bio-B and Kangfang Biotech saw increases of 7.44% and 7.31%, respectively, while Tencent Music and GF Securities experienced declines of 5.5% and 4.09%.

YANKUANG ENERGY

TME-SW

GF SEC

BYD COMPANY

HTSC

BABA-W

Top 5 HK Stock Gainers/Losers (>100B) (1.7)

09995

06160

REMEGEN rose 10.04%; Innovent Biologics rose 4.20%, with a transaction volume reaching HKD 1.214 billion; CanSino Biologics rose 5.48%, with a transaction volume reaching HKD 1.058 billion; BeiGene rose 1.92%, with a transaction volume reaching HKD 844 million; Kelun-Biotech rose 4.31%, with a market value reaching HKD 107.3 billion

HK Stock Movers Tracker

REMEGEN

BEONE MEDICINES

Hong Kong stock movement: The innovative drug industry explodes, REMEGEN rises 10.04%

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KUAISHOU-W(01024) rose 11.09%, with a trading turnover 9.9 Billion HKD, and a year-to-date rose 15.1%. SKB BIO-B(06990) rose 7.84%, with a trading turnover 419.7 Million HKD, and a year-to-date rose 10.1%. GWMOTOR(02333) fell 6.15%, with a trading turnover 580.4 Million HKD, and a year-to-date fell 7.3%. CTG DUTY-FREE(01880) fell 4.96%, with a trading turnover 419.3 Million HKD, and a year-to-date fell 2.9%.

- The Hang Seng Index rose 0.03%, with a year-to-date increase of 2.8%, while the Hang Seng Tech Index gained 0.09%, accumulating a 4.1% rise this year.  
- Kuaishou-W (01024) experienced an 11.09% gain with a trading volume of 9.9 billion HKD, marking a year-to-date increase of 15.1%.  
- Conversely, Great Wall Motor (02333) decreased by 6.15% and China National Pharmaceutical (01880) dropped 4.96%, with year-to-date declines of 7.3% and 2.9%, respectively.

KUAISHOU-W

BEKE-W

GWMOTOR

XPENG-W

PETROCHINA

Top 5 HK Stock Gainers/Losers (>100B) (1.5)

SKB BIO and Yilian Biotech have entered into a settlement agreement to resolve several disputes raised by the company against Yilian Biotech. According to the agreement, Yilian Biopharmaceutical will share the revenue and net profits from several projects in its pipeline. In 2025, the company initiated two civil lawsuits against Yilian Biotech

SKB BIO and Yilian Biotech have entered into a settlement agreement

MB-SKBB@EC2609A(23809.HK)

Bank of America Securities raises the target price for SKB BIO to 479 yuan and lowers revenue forecasts

Mainland China’s investors pour into Hong Kong-listed drug stocks

Sichuan Kelun-Biotech Receives NMPA Approval for Sacituzumab Tirumotecan in Advanced HR+/HER2- Breast Cancer

Goldman Sachs: The mainland medical sector will rely more on data and profit visibility this year, optimistic about CDMO companies

Top 5 HK Stock Gainers/Losers (>100B) (1.21)