HK Stock Market Move | ALPHAMAB-B (09966) surged more than 11% at the opening, expected to achieve annual profit for the first time with a profit of no less than 1.5 billion yuan.

ALPHAMAB-B(09966) opened more than 11% higher, with a gain of 11.64% at the time of publication, trading at HK$5.85 with a trading volume of HK$778,100. On the news front, on March 4th, ALPHAMAB-B issued an announcement stating that the group is expected to achieve a profit of no less than RMB 150 million for the year ending December 31, 2024, while a loss of approximately RMB 210.6 million was recorded for the year ending December 31, 2023. This marks the company's first annual profit. The announcement stated that the company turned a loss into a profit during the reporting period, mainly due to three authorized cooperation and sales revenue streams.