药捷安康：2小时市值蒸发近2000亿！一场没有产品的资本狂欢，是谁在收割？

Group 1 - The core point of the article highlights the dramatic fluctuation in the market value of the company,药捷安康, which saw a drop of over 190 billion HKD in just two hours after reaching a peak market value of nearly 270 billion HKD [1] - The company's stock price surged to a historical high of over 600 HKD per share before plummeting to below 200 HKD, resulting in a daily decline of 53.73% and a total drop of 70% from its peak [1] - Despite the significant market capitalization, the company has not yet launched any products and reported losses of 275 million HKD last year and 123 million HKD in the first half of this year [1] Group 2 - The company has a relatively small float, with a total share capital of 39.69 million shares, of which 38.2 million shares were created through pre-IPO financing and are subject to a 12-month lock-up period [2] - Only 5.5 million shares are available for trading in the market, which makes the stock price more susceptible to rapid increases due to limited supply [2] - The surge in stock price was attributed to the company being included in the Hong Kong Stock Connect list and receiving clinical implied permission for its core product, allowing it to commence Phase II trials [3]