HK Midday Review | Hang Seng Index Down 0.95%, Phrma Leads Hang Seng Biotech Index

It has been learned that the Hong Kong stock market's Hang Seng Index fell by 0.95%, or 242 points, to 25,319 points; the Hang Seng Tech Index fell by 1.76%; and the Hang Seng Biotech Index continued to rise by 3.09%. The early morning turnover was HK$14.24 billion.

Phrma (02359) surged by 10% after reporting earnings, with mid-term revenue from US customers increasing by nearly 40%, driven by the continuous growth of its small molecule drug discovery business. Phrma led the Hang Seng Biotech Index, with Phrma Juno-B (02126) rising by 25%, Phrma Bio (02269) rising by 3.91%, and Phrma Alliance (02268) rising by 2.97%.

Deke Biotech-B (06996) rose by 4.7%, with its Shiva drug approved by the National Medical Products Administration for treating multiple myeloma.

Novogene (02142) rose by 7.71% after reporting profits, with expectations of a significant increase in mid-term net profit to around HK$74 million.

Sunshine Pharma (01530) rose over 5% and set a new high, with the authorized agreement between the company and Pfizer officially taking effect. The company plans to sell approximately 7 million shares in mainland China for HK$1.5 billion.

Hong Kong Best Beer (00236) rose by 20% after reaching its all-time high of 40%, with first-half net profit increasing by 31.97% year on year.

Shanghai Fudan University (01385) rose over 9% after entrusting Fudan University to research and develop a large-scale FPGA layout and wiring technology.

Xi Lu (02507) rose 6.59%, bucking the market trend, with the company deepening its involvement in the private aircraft sector.

ZTE (00763) fell by over 4% after announcing plans to issue HK$35.84 billion convertible bonds.

Good Kids International (01086) fell by 8.94% after reporting profits, with expectations of a significant decrease in first-half net profit by around 40% to 50%.