Core Viewpoint - The stock price of Zhaoke Ophthalmology (06622) experienced significant volatility after reaching a peak of HKD 4.60 on August 18, 2023, marking a year-to-date increase of 283.33%. However, the stock has since entered a downward trend, with a cumulative decline of 30% over the following two and a half months, despite a recent milestone in the approval process for its key product, NVK002 [1][4][6]. Group 1: Stock Performance - Zhaoke Ophthalmology's stock price surged to a peak of HKD 4.60, reflecting a year-to-date increase of 283.33% [1] - Following the peak, the stock entered a downward trend characterized by "nine consecutive declines" and "ten consecutive declines," resulting in a cumulative drop of 30% [1] - On October 22, the stock saw a brief increase of 3.58% after the ANDA application for NVK002 was fully approved, but this gain was quickly reversed with a subsequent drop of 4.72% the following day [2][4] Group 2: Financial Performance - For the first half of 2023, Zhaoke Ophthalmology reported revenue of HKD 15.803 million, a year-on-year decline of 68.25%, and a net loss of HKD 117 million, an increase of 53.85% compared to the previous year [4] - The significant revenue drop was primarily due to a one-time licensing income of HKD 33.5 million in the previous year, which inflated the revenue base [4] - After adjusting for this one-time income, the product revenue for the current period was approximately HKD 15.1 million, showing only a slight decline from HKD 15.6 million in the same period last year [4] Group 3: Product Development and Market Potential - Zhaoke Ophthalmology's NVK002, a low-concentration atropine eye drop, has made significant progress, with its ANDA application accepted by the National Medical Products Administration of China [4][5] - The company is currently the only one in China with two concentrations of atropine eye drops under regulatory review, indicating a strong competitive position [5] - The potential market for myopia control in China is substantial, with approximately 700 million myopic patients, including 163 million children and adolescents who could benefit from NVK002 [5] - According to estimates, the myopia prevention market could reach HKD 210 billion by 2030, with a compound annual growth rate of approximately 13.7% [5] Group 4: Market Sentiment and Future Outlook - Following a significant price increase, the stock has shown signs of consolidation, with a current PB ratio of 0.92, well below the industry average of 3.15 [3] - The stock has experienced a "price flat, volume shrinking" phenomenon, indicating a potential stabilization at lower price levels [15] - Recent trading activity suggests that the stock may be nearing a bottom, with a potential for upward momentum if trading volume increases [15]

Core Viewpoint - The stock price of Zhaoke Ophthalmology (06622) experienced significant volatility after reaching a peak of HKD 4.60 on August 18, 2023, marking a year-to-date increase of 283.33%. However, the stock has since declined by approximately 30% over the following two and a half months, despite a recent milestone in the approval process for its key product, NVK002 [1][4][6]. Group 1: Stock Performance - Zhaoke Ophthalmology's stock price surged to a high of HKD 4.60, reflecting a year-to-date increase of 283.33% [1] - Following the peak, the stock entered a downward trend, experiencing a "slow knife" decline with a cumulative drop of 30% over two and a half months [1][2] - On October 22, the stock saw a brief increase of 3.58% after the ANDA application for NVK002 was fully approved, but this gain was quickly reversed with a subsequent drop of 4.72% the next day [2][6] Group 2: Financial Performance - For the first half of 2025, Zhaoke Ophthalmology reported revenue of HKD 15.803 million, a decline of 68.25% year-on-year, and a net loss of HKD 117 million, widening by 53.85% [4] - The revenue drop was primarily due to a one-time licensing income of HKD 33.5 million in the previous year, which inflated the revenue base [4] - Excluding this factor, product revenue was approximately HKD 15.1 million, showing only a slight decline from HKD 15.6 million in the same period last year [4] Group 3: Product Development - Zhaoke Ophthalmology's NVK002, a low-concentration atropine eye drop for myopia control, has made significant progress, with its ANDA application accepted by the National Medical Products Administration [4][5] - The company is the only one in China with two concentrations of atropine eye drops under regulatory review, indicating a strong market position [5] - The global myopia control market is projected to reach HKD 210 billion by 2030, with a compound annual growth rate of approximately 13.7% [5] Group 4: Market Dynamics - The current PB valuation of Zhaoke Ophthalmology is 0.92, significantly lower than the industry average of 3.15, indicating potential undervaluation [3] - The market for low-concentration atropine eye drops is currently limited, with only one competitor, suggesting a favorable competitive landscape for NVK002 [5] - Recent trading patterns indicate a consolidation phase, with a significant portion of the stock's average cost now at HKD 3.24, suggesting improved control by major investors [12][15]

Group 1 - The core viewpoint of the article highlights that Zhaoke Ophthalmology-B (06622) has seen a significant stock price increase, rising over 7% and currently trading at 4.27 HKD with a transaction volume of 10.87 million HKD [1] - Zhaoke Ophthalmology has entered into a distribution and supply agreement with PT Ferron Par Pharmaceuticals, a leading pharmaceutical company in Indonesia, for its core product, atropine sulfate eye drops (NVK002), aimed at slowing the progression of myopia in children and adolescents [1] - Under the agreement, Zhaoke Ophthalmology grants PT Ferron exclusive rights to import, promote, distribute, market, and sell the product in Indonesia, which includes an upfront payment and potential milestone payments based on certain achievements [1] Group 2 - Earlier this year, Zhaoke Ophthalmology's new drug application for a 0.01% dosage of atropine sulfate eye drops and a 0.02% dosage has been accepted by the National Medical Products Administration of China and is currently under review [1]

根据协议条款，兆科眼科授予PT Ferron在印度尼西亚进口、推广、分销、营销和销售该产品的独家权 利。兆科眼科将获得一笔预付款项，并可根据若干成就获得额外的里程碑付款。此外，今年稍早时候， 兆科眼科硫酸阿托品滴眼液0.01%剂量之简易新药申请，以及0.02%剂量之新药申请，已先后获得中国 国家药品监督管理局受理，目前正在审批过程中。 兆科眼科-B(06622)再涨超7%，截至发稿，涨6.48%，报4.27港元，成交额1087.63万港元。 消息面上，兆科眼科宣布，公司已与印尼领先制药公司PT Ferron Par Pharmaceuticals，就公司之核心产 品：用于减缓儿童和青少年近视进展的硫酸阿托品滴眼液(NVK002)，签订了一份针对印尼市场的分销 和供应协议。 ...

根据协议条款，兆科眼科授予PT Ferron在印度尼西亚进口、推广、分销、营销和销售该产品的独家权 利。兆科眼科将获得一笔预付款项，并可根据若干成就获得额外的里程碑付款。此外，今年稍早时候， 兆科眼科硫酸阿托品滴眼液0.01%剂量之简易新药申请，以及0.02%剂量之新药申请，已先后获得中国 国家药品监督管理局受理，目前正在审批过程中。 智通财经APP获悉，兆科眼科-B(06622)再涨超7%，截至发稿，涨6.48%，报4.27港元，成交额1087.63万 港元。 消息面上，兆科眼科宣布，公司已与印尼领先制药公司PT Ferron Par Pharmaceuticals，就公司之核心产 品：用于减缓儿童和青少年近视进展的硫酸阿托品滴眼液(NVK002)，签订了一份针对印尼市场的分销 和供应协议。 ...