Group 1 - The stock price of the biotech company,药捷安康 (2617.HK), has experienced extreme volatility since its listing in June, soaring from 13.15 HKD to 679.5 HKD, before plummeting to 143.2 HKD, reflecting a staggering increase of over 10 times in just 7 trading days, followed by a 79% drop in 4 days [1] - As of September 26, the closing price of 药捷安康 was 143.2 HKD per share, marking a decline of over 10%, while the cumulative increase since its listing remains at 561.43% [1] - The extreme market behavior highlights the risks associated with passive investment mechanisms in index funds, as several ETFs tracking the National Index for Hong Kong Innovative Drugs were forced to buy at high prices due to component stock adjustments, raising concerns about the operational mechanisms of ETFs and the transparency of index compilation [1]

Core Insights - The stock price of biotech company Jiajie Ankang (2617.HK) has experienced unprecedented volatility since its listing in June, soaring from HKD 13.15 to HKD 679.5, before plummeting to HKD 149.9, reflecting a dramatic fluctuation of over 10 times in just 7 trading days, followed by a 78% drop in 4 days [2] Group 1 - The extreme market behavior highlights the risks inherent in the passive investment mechanisms of index funds [2] - Multiple ETFs tracking the National Index of Hong Kong Innovative Drugs were forced to buy at high prices due to component stock adjustments, drawing significant market attention [2] - This situation has sparked discussions among investors regarding the operational mechanisms of ETFs and raised questions about the rationality and transparency of related index compilation [2]