Core Viewpoint - Starcoin Group Limited (formerly known as Innovative Pharmaceutical Biotech Limited) experienced a significant stock price drop, with a decline exceeding 70% following a notification from the Hong Kong Stock Exchange regarding insufficient operational levels and asset value to support continued listing [1][2]. Group 1: Company Announcement and Stock Performance - On November 14, 2025, the company received a letter from the Stock Exchange indicating that it failed to maintain sufficient operational levels and asset value, leading to a decision to suspend trading of its shares on November 26, 2025 [2][3]. - The company had previously announced a failed placement agreement to issue up to 145 million shares at HKD 0.415 per share, as the conditions precedent were not met by September 11, 2025 [1][3]. Group 2: Financial Performance - For the fiscal year ending March 31, 2025, the company reported a revenue of HKD 2.091 million, a year-on-year decrease of 68.28%, and a net loss attributable to shareholders of HKD 346 million, compared to a profit of HKD 103 million in the previous year [5]. - The basic earnings per share for the reporting period were -HKD 0.2001, with net cash flow from operating activities at -HKD 10.555 million, a decrease of HKD 2.276 million year-on-year [5].

Core Viewpoint - Starcoin Group Limited (formerly known as Innovative Pharmaceutical Biotech Limited) experienced a significant stock crash, with a drop exceeding 70% due to regulatory actions from the Hong Kong Stock Exchange regarding its operational viability and asset value [2][5][9]. Company Announcement - On November 14, 2025, Starcoin Group received a notification from the Hong Kong Stock Exchange stating that it failed to maintain sufficient operational levels and asset value, leading to a suspension of its shares on November 26, 2025, unless a review is requested [4][6]. - The company announced that a planned share placement of up to 145 million shares at HKD 0.415 per share has become void due to unmet conditions by September 11, 2025, terminating all responsibilities between the placement agent and the company [2][7]. Financial Performance - For the fiscal year ending March 31, 2025, Starcoin Group reported a revenue of HKD 2.091 million, a decline of 68.28% year-on-year, and a net loss attributable to shareholders of HKD 346 million, compared to a profit of HKD 103 million in the previous year [10]. - The basic earnings per share for the reporting period was -HKD 0.2001, with a net cash outflow from operating activities of HKD 10.555 million, a decrease of HKD 2.276 million year-on-year [10]. Company Background - Starcoin Group operates in the pharmaceutical and biotechnology sector, with five divisions including genetic testing services, bioproduct distribution, beauty equipment trade, securities investment, and research on oral insulin products [9]. - The company had previously seen a significant stock price increase of nearly 100% during June to July 2025 before entering a downward trend [9].

Company Overview - The company, Leading Pharmaceutical Biotechnology (00399.HK), closed at HKD 0.39 per share, marking a 39.29% increase with a trading volume of 113 million shares and a turnover of HKD 38.66 million, reflecting a volatility of 39.29% [1] - Over the past month, Leading Pharmaceutical Biotechnology has seen a cumulative increase of 36.59%, and a year-to-date increase of 34.62%, outperforming the Hang Seng Index by 20.65% [1] Financial Performance - As of March 31, 2025, Leading Pharmaceutical Biotechnology reported total revenue of HKD 1.9296 million, a decrease of 68.28% year-on-year [1] - The company recorded a net profit attributable to shareholders of -HKD 319 million, a significant decline of 434.55% year-on-year [1] - The gross profit margin stood at 8.99%, with a debt-to-asset ratio of 97.66% [1] Industry Valuation - Currently, there are no institutional investment ratings for Leading Pharmaceutical Biotechnology [2] - The average price-to-earnings (P/E) ratio for the consumer retail sector (TTM) is -0.32x, with a median of 2.04x; Leading Pharmaceutical Biotechnology has a P/E ratio of -1.49x, ranking 13th in the industry [2] - Comparatively, other companies in the sector have P/E ratios such as Minghui International (4.36x), Youpin 360 (7.76x), Hengan International (10.97x), Jiangsu Hongxin (12.35x), and China Jindian Group (17.15x) [2] Business Segments - Leading Pharmaceutical Biotechnology's operations are primarily divided into two segments: research and development of pharmaceutical products and trade of beauty instruments and products [2] - The company is currently focused on developing oral insulin products and aims to acquire more commercially viable pharmaceutical products to expand its R&D scope [2] - Previously known as United Gene Technology Group, the company primarily provided genetic testing services, health management services, and distribution of biotechnology products [2]