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][2]. - 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][5]. - 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 10.10, raising a total of HKD 612 million [5][6]. - 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 [8][9]. - The company has reported net losses of approximately USD 67 million, USD 129 million, and USD 99 million for the years 2022 to 2024, totaling USD 295 million (approximately RMB 2.12 billion) [9][10]. - The lack of commercialized products and ongoing clinical trials contribute to the company's challenges in attracting investor interest [8][9].
即将进入解禁“一个月倒计时”，拨康视云-B却上演“量价”齐升？