On May 28, 3SBio (01530.HK) fell 5.25% in regular trading, trading at HK$17.73/share, with trading volume of HK$131 million. The stock has now declined sharply from its 52-week high of HK$36.80, representing a loss of over 50% from peak levels.
The continued slide follows multiple negative catalysts in recent sessions. The Hong Kong Stock Exchange disclosed that the IPO application of 3SBio's subsidiary Mandi International — which had aimed to become the first listed anti-hair-loss company — automatically expired after failing to complete its listing hearing within six months of filing in November last year. Additionally, the company announced plans to replace Ernst & Young, its auditor of over 15 years, with KPMG, a move that while characterized as good governance practice, has added to market uncertainty during a period of already fragile investor confidence.
The declines come despite over HK$10 billion in cash inflows from a landmark US$6.05 billion licensing deal with Pfizer, equity subscriptions, and share placements completed in the past year. The company's current market capitalization of approximately HK$47 billion remains below the total potential value of its Pfizer partnership agreement alone, fueling shareholder frustration over the absence of meaningful buyback actions.
(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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