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港股速报 | 港股低开 轩竹生物今起招股
Sou Hu Cai Jing· 2025-10-06 02:09
新股方面,轩竹生物-B(02575.HK)于10月6日至10月10日招股,该公司拟全球发售6733.35万股,其中香港发售占10%,国际发售占90%,另有15%超额配 股权,每股发售价11.6港元。该股每手500股,预期股份将于10月15日在联交所开始买卖。 轩竹生物是一家以创新为驱动的中国生物制药公司,凭借对中国医药行业的理解和对其独特临床需求的洞察,改善患者健康和生活。公司有超过十种药物资 产在积极开发中,涵盖消化系统疾病、肿瘤和非酒精性脂肪性肝炎(NASH),包括三项NDA批准资产,一个药物项目处于NDA注册阶段,一个药物项目处于 III期临床试验阶段,四个药物项目处于I期临床试验阶段,五个已获IND批准。 今日(10月6日),港股市场小幅低开。截至发稿,恒生指数报27003点,下跌137点,跌幅0.50%。 其他方面,盘面上,科网股普跌,网易低开超2%,随后回升。哔哩哔哩、联想、阿里巴巴、京东、百度跌超1%。腾讯逆势走强,一度涨超1%。黄金股普 涨,中国白银集团涨超10%、珠峰黄金涨超5%;芯片股活跃,宏光半导体涨超1%;汽车股走弱,小鹏汽车跌超4%。 国信证券最新研报指出,由于美联储的态度已经事实上 ...
国信证券:基于中债利率的估值框架作用显现 年内港股上行空间增加
Zhi Tong Cai Jing· 2025-10-05 23:37
Group 1: Core Views - The Federal Reserve's dovish stance is improving overseas liquidity, which is beneficial for the Hong Kong stock market [1][2] - The risk premium framework based on Chinese bond rates is systematically taking effect, allowing for further upward potential in the Hong Kong stock market [1][4] - The target price for the Hong Kong stock market in 2025 has been raised to 29,000 points based on weighted risk premium calculations [1][4] Group 2: A-shares Insights - The risk premium model for A-shares suggests an upper limit for the Shanghai Composite Index at 4,900 points for 2025 and 5,300 points for 2026, significantly higher than historical P/E ratio estimates of 3,650-4,000 points [3] - Recent index increases despite earnings downgrades indicate that A-shares are currently driven by sentiment [3] Group 3: Hong Kong Market Performance - In September, the Hang Seng Index outperformed the A-shares, with the Hang Seng Index rising by 7.1% and the Hang Seng Technology Index by 13.9% [4] - Key sectors such as AI, innovative pharmaceuticals, and raw materials are expected to benefit from ongoing trends and market conditions [4]