Movement Alert｜3SBio Rises 5.23% in Regular Trading, CMB International Recommends as Bottom Opportunity with Company Buyback Support

Market Focus06-24

On June 24, 3SBio rose 5.23% in regular trading, trading at HKD 17.3/share, with turnover of HKD 181 million. Multiple catalysts converged to drive the stock higher.

On the news front, CMB International published a research report on June 23 stating that the Chinese pharmaceutical industry is presenting a renewed bottom opportunity, with the long-term trend of innovative drug exports remaining intact. The brokerage highlighted that industry capital has triggered a wave of buybacks and stake increases, signaling a market bottom, and specifically recommended 3SBio among its top picks.

Simultaneously, 3SBio announced on June 22 it repurchased 1.013 million shares at a total cost of approximately HKD 15.718 million, with the buyback price ranging from HKD 15.40 to HKD 16.01 per share. Additionally, recent institutional support from Hui Tian Fu Fund, which increased its position by 635,000 shares on June 10 and 975,000 shares on June 5, along with Chairman Lou Jing's personal purchase of 516,000 shares on June 8 at HKD 15.25, further reinforced market confidence.

The broader biotechnology sector also rallied, with SKB Bio up 7.59%, Remegen up 4.94%, Innovent Bio up 4.51%, Akeso up 4.44%, and BeiGene up 3.85%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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