Core Viewpoint - The stock price of Bohan Biotech (06955) has declined over 30% since reaching a peak of HKD 19.90 on August 8, 2023, and is now facing pressure to maintain its position in the Hong Kong Stock Connect due to a decrease in average market capitalization [1][2] Group 1: Stock Performance - Bohan Biotech's average market capitalization has fallen to HKD 66.51 billion, approaching the HKD 57.45 billion threshold for potential removal from the Hong Kong Stock Connect [1] - The stock has been in a downward trend characterized by "price drop and volume shrinkage" since August, with significant trading volume declines observed [2][3] - Recent trading days have shown signs of stabilization, with the stock price touching the lower Bollinger Band and attempting a technical rebound [5] Group 2: Market Dynamics - The company has successfully commercialized biosimilars, which has been a key strategy for growth, but faces challenges due to centralized procurement policies [6][7] - The centralized procurement initiated on August 1, 2023, includes several monoclonal antibodies, directly impacting Bohan Biotech's products [7][8] - Bohan Biotech's flagship product, Bevacizumab (博优诺), faces intense competition with 11 approved biosimilars in the market, leading to price pressures [8][9] Group 3: Competitive Landscape - The sales performance of Bohan Biotech's products is under threat from established competitors, with significant market shares held by other companies [8] - The pricing strategy in response to centralized procurement may lead to a price war, impacting both Bohan Biotech and its competitors [9] - The regulatory environment for biosimilar procurement is evolving, with expectations for moderate price reductions rather than aggressive undercutting [9]
集采冲击商业化逻辑，博安生物股价2个月跌超30%后能否脱离下行通道？