ApicHope(SZ:300723) Zheng Quan Shi Bao Wang·2025-12-15 05:18Company Summary - Yipinhong (300723) experienced a sudden 20% drop in stock price despite a favorable announcement regarding its product Qinxiangqing oral solution being approved as a national second-level protected traditional Chinese medicine [1][3] - The company’s stake in the US company Arthrosi received a buyout offer with a total transaction value of up to $1.5 billion (approximately 10.6 billion RMB), but the market's expectations shifted from a business development (BD) perspective to a direct sale, leading to a decline in stock price [1][2] - Yipinhong's stock had previously surged over 500% from September last year to July this year, but has since halved in value, indicating a potential market correction [2] Industry Summary - The overall performance of the innovative drug sector was negatively impacted, with the Hong Kong innovative drug index dropping over 2% and several companies experiencing declines of more than 5% [4] - The innovative drug business development (BD) transactions in China have seen explosive growth this year, with projections suggesting that by the end of 2025, the transaction volume will exceed $100 billion, accounting for nearly 50% of global transactions [4] - The Chinese innovative drug market is expected to grow from approximately 819.8 billion RMB in 2020 to 1.14 trillion RMB by 2024, with a compound annual growth rate of 8.53%, and is projected to surpass 1.22 trillion RMB by 2025 [5]