Core Viewpoint - The stock price of TIDE Pharmaceuticals (03880) has experienced a significant decline since its IPO, reaching a new low, but has recently shown signs of recovery ahead of the cornerstone lock-up expiration on December 30 [1][4]. Group 1: Stock Performance - TIDE Pharmaceuticals' stock price peaked at 41.72 HKD on August 21, shortly after its IPO on June 30, but subsequently fell below the issue price of 30.60 HKD due to market fluctuations [1][4]. - The stock exhibited a "V-shaped" pattern, with an initial rise followed by a decline, characterized by a significant drop in trading volume and price [2][3]. - A recent "eight consecutive days of gains" has brought the stock price back to 30.26 HKD, just shy of the issue price, indicating a potential recovery [4]. Group 2: Market Context and Competition - The global peptide drug market is projected to grow from 60.7 billion USD in 2018 to 89.5 billion USD in 2023, with a compound annual growth rate (CAGR) of 8.1%, and expected to reach 261.2 billion USD by 2032 [5]. - The Chinese peptide drug market is also expanding, with a forecasted growth from 48.2 billion RMB in 2018 to 59.7 billion RMB in 2023, and a CAGR of 17.3% anticipated until 2032 [6]. - The GLP-1 market is becoming increasingly competitive, with nearly 200 drugs in development globally, leading to concerns about profit margins and market saturation [7]. Group 3: Company Operations and Financials - TIDE Pharmaceuticals operates globally, serving over 1,000 clients across more than 50 countries, with a high client retention rate of over 90% [8]. - The company reported revenues of approximately 351 million RMB in 2022, with projections of 337 million RMB in 2023 and 442 million RMB in 2024, alongside significant growth in overseas revenue driven by demand for GLP-1 related drug development [8]. - The company's financial performance for the first half of 2025 showed a revenue increase of 28.52% year-on-year, with a net profit increase of 101.71% [8].
基石解禁在即，泰德医药(03880)“八连阳”只为回到发行价？