HK Stock Movement | GIANT BIOGENE (02367) Drops Over 5% Intraday as KFM Slips in Double 11 Rankings

Stock News11-17

GIANT BIOGENE (02367) fell more than 5% intraday, and as of press time, it was down 4.42% to HK$37.62, with a turnover of HK$285 million. According to industry data, KFM, one of the company's flagship brands, climbed from 10th to 5th in Tmall's beauty promotion rankings from 2023 to 2025 but dropped back to 20th this year. Additionally, KFM, which previously ranked consistently on Douyin's beauty list, has fallen out of the top 20 since June this year.

A Citigroup research report noted that the reduced price appeal of GIANT BIOGENE's main products in Li Jiaqi's live-streamed presales was due to "more disciplined promotional strategies." Data from Chanmama further confirmed this trend: from October 9 to 16, KFM's GMV on Douyin was between RMB 50 million and RMB 75 million, significantly lower than the over RMB 100 million recorded in the same period last year.

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