Movement Alert｜3SBio Falls 5.51% in Regular Trading, Subsidiary Mandi International IPO Application Expires

Market Focus05-26

On May 26, 3SBio fell 5.51% in regular trading, trading at HK$18.31/share, with trading volume of HK$192 million. The decline comes as the market continues to digest the expiration of subsidiary Mandi International's Hong Kong IPO application.

On May 20, the Hong Kong Stock Exchange disclosed that Mandi International's IPO prospectus, originally filed on November 20, 2025, automatically lapsed after failing to complete the listing hearing within the required six-month window. Mandi International, 3SBio's hair health subsidiary commanding approximately 57% of China's hair loss drug market with its flagship minoxidil products, had been positioning itself as the anti-hair loss first stock. The IPO failure dims near-term prospects for value realization through the planned spin-off.

The broader Biotechnology sector also traded lower, with AKESO down 2.66%, REMEGEN down 1.89%, and INNOVENT BIO down 1.17%, though 3SBio's decline significantly outpaced peers.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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