HK Stock Market Move | The shares of REMEGEN (09995) fell by more than 5%, with rumors of over a thousand people to be laid off. The company stated that the personnel adjustment is aimed at optimizing the management team structure.

REMEGEN (09995) fell more than 5%, as of the time of writing, it was down 5.4% to 10.86 Hong Kong dollars, with a turnover of 22.16 million Hong Kong dollars. On the news front, there have been rumors circulating recently that REMEGEN is implementing a plan to lay off over a thousand employees and will further increase adjustment efforts. In response to this, reports quoted REMEGEN as saying that the recent personnel adjustments were not a significant layoff, but rather based on the company's strategic development needs aimed at optimizing the management team structure, enhancing team's professional capabilities and overall efficiency, achieving dynamic balance of the team to better adapt to market changes and business requirements. In the first half of this year, REMEGEN achieved a revenue of 740 million yuan, a year-on-year increase of 76.5%; shareholders' net loss was 780 million yuan, a year-on-year expansion of 10.96%. As of the first half of 2024, REMEGEN had a remaining balance of 673 million yuan, a decrease of nearly 40% year-on-year. Prior to this, Pu Yin International pointed out that REMEGEN's 2Q24 revenue slightly exceeded expectations, mainly due to better-than-expected sales of Taltz; however, the net loss was significantly higher than expected, mainly due to research and development expenses exceeding expectations and non-operating expenses exceeding expectations.