Core Viewpoint - The stock price of Zhaoke Ophthalmology (06622) experienced significant volatility after reaching a peak of HKD 4.60 on August 18, 2023, marking a year-to-date increase of 283.33%. However, the stock has since declined by approximately 30% over the following two and a half months, despite a recent milestone in the approval process for its key product, NVK002 [1][4][6]. Group 1: Stock Performance - Zhaoke Ophthalmology's stock price surged to a high of HKD 4.60, reflecting a year-to-date increase of 283.33% [1] - Following the peak, the stock entered a downward trend, experiencing a "slow knife" decline with a cumulative drop of 30% over two and a half months [1][2] - On October 22, the stock saw a brief increase of 3.58% after the ANDA application for NVK002 was fully approved, but this gain was quickly reversed with a subsequent drop of 4.72% the next day [2][6] Group 2: Financial Performance - For the first half of 2025, Zhaoke Ophthalmology reported revenue of HKD 15.803 million, a decline of 68.25% year-on-year, and a net loss of HKD 117 million, widening by 53.85% [4] - The revenue drop was primarily due to a one-time licensing income of HKD 33.5 million in the previous year, which inflated the revenue base [4] - Excluding this factor, product revenue was approximately HKD 15.1 million, showing only a slight decline from HKD 15.6 million in the same period last year [4] Group 3: Product Development - Zhaoke Ophthalmology's NVK002, a low-concentration atropine eye drop for myopia control, has made significant progress, with its ANDA application accepted by the National Medical Products Administration [4][5] - The company is the only one in China with two concentrations of atropine eye drops under regulatory review, indicating a strong market position [5] - The global myopia control market is projected to reach HKD 210 billion by 2030, with a compound annual growth rate of approximately 13.7% [5] Group 4: Market Dynamics - The current PB valuation of Zhaoke Ophthalmology is 0.92, significantly lower than the industry average of 3.15, indicating potential undervaluation [3] - The market for low-concentration atropine eye drops is currently limited, with only one competitor, suggesting a favorable competitive landscape for NVK002 [5] - Recent trading patterns indicate a consolidation phase, with a significant portion of the stock's average cost now at HKD 3.24, suggesting improved control by major investors [12][15]
股价两个半月累跌30%，兆科眼科-B(06622)即将来到新一轮量价齐升拐点？