Core Viewpoint - The stock price of Bolekang Shiyun-B (02592) has experienced a significant increase of over 50% during a recent five-day rally, drawing attention back to the company after a period of decline since its IPO [1][3]. Group 1: Stock Performance - Since its IPO on July 3, the stock price of Bolekang Shiyun has been in a downward trend, dropping 38% on its first day and remaining volatile with low trading volumes [2][5]. - The stock has seen less than 30 days of trading with a volume exceeding 1 million shares, indicating low investor interest [1]. - The recent surge in stock price coincides with the one-month countdown to the unlocking of cornerstone investor shares, raising concerns among investors about potential price corrections [1][5]. Group 2: Technical Analysis - The stock has been fluctuating within the Bollinger Bands since August, with no significant volume increase to support the price movements, indicating a lack of strong market interest [2][7]. - Despite touching the upper Bollinger Band on November 19, the stock experienced a 4.08% decline the following day, suggesting that the recent price increase may not be sustainable [2][5]. Group 3: Cornerstone Investors and Unlocking - Bolekang Shiyun's IPO involved the issuance of 60.582 million shares at an issue price of HKD 10.1, raising a total of HKD 612 million [5][8]. - Two cornerstone investors, Fucai Holdings and Reynold Lemkins, subscribed to a total of 17.72 million shares, representing approximately 2.11% of the total share capital, with a combined investment of USD 22.8 million [5][6]. - As of November 17, the stock price had fallen to HKD 4.33, resulting in a loss of approximately USD 13.03 million for the cornerstone investors, which narrowed to USD 6.41 million after the recent price increase [5][6]. Group 4: Company Fundamentals - Bolekang Shiyun is a clinical-stage ophthalmic biotechnology company focused on developing various therapies, with all its candidate drugs being self-developed [7][8]. - The company has reported net losses of approximately USD 0.67 billion, USD 1.29 billion, and USD 0.99 billion for the years 2022 to 2024, totaling USD 2.95 billion [8]. - The lack of commercialized products and ongoing clinical trials contribute to the company's challenges in attracting investor interest [7][8].
即将进入解禁“一个月倒计时”，拨康视云-B(02592)却上演“量价”齐升？