Core Viewpoint - Jiuyuan Gene, known for its domestic weight-loss drug similar to Semaglutide, faced significant stock price volatility after its Hong Kong IPO, initially dropping nearly 60% from its issue price before experiencing a substantial rebound in mid-2023 [1][2]. Group 1: Stock Performance - Jiuyuan Gene's stock price fell 38.41% on its first trading day and reached a new low of 5.15 HKD within two months, representing a decline of nearly 60% from its issue price of 12.42 HKD [1]. - After a period of low trading, the stock price surged by 26.52% in June and 35.03% in July, totaling over 70% increase in less than two months [1]. - The stock experienced a technical rebound starting January 16, 2023, after hitting a new low, but this rebound lasted only two months before the price fell again [2]. Group 2: Trading Volume and Market Behavior - During the horizontal trading phase from April 15 to June 6, 2023, Jiuyuan Gene's stock price remained stable around 6.20 HKD, with a minimal increase of 2.32% [3]. - The trading volume during this period was low, indicating a lack of selling pressure and accumulation of shares by buyers [3]. - Following a significant price increase on June 12, 2023, the stock faced a rapid decline, with a maximum drop of 34.46% over two weeks [5]. Group 3: Cornerstone Investors and Lock-up Period - Jiuyuan Gene had seven cornerstone investors, with a lock-up period of six months ending on May 28, 2023, during which 49.66% of shares were subject to release [6][8]. - On the release day, the stock price rose by 3.18%, despite the high percentage of shares being unlocked, indicating that cornerstone investors did not sell off their holdings immediately [8]. - The cornerstone investors faced a floating loss of 50.24% as of the release date, with the stock needing to rise at least 4.64% for them to break even [8]. Group 4: Future Prospects - Jiuyuan Gene's product JY29-2 is expected to be the first biosimilar to Semaglutide approved for commercialization in China, which could enhance the company's market position in the growing weight-loss drug sector [9].
两个月股价拉升逾70%，九源基因(02566)的基石们仍未盈利？