HK Stock Market Move | ABBISKO-B(02256) rose more than 11%: the company achieved its first annual turnaround from a loss to a profit, and announced a new share buyback plan of 2 billion Hong Kong dollars.

ABBISKO-B (02256) is currently up by more than 11%, as of the time of writing, it has increased by 10.77% to 7.61 Hong Kong dollars, with a transaction amount of 39.0985 million Hong Kong dollars. On the news front, Heyu recently announced its annual performance. The financial report shows that the company's annual operating income is approximately 504 million RMB, a significant increase of 2544% year-on-year; at the same time, the company recorded a net profit attributable to shareholders of 28.3 million RMB for the period, achieving annual profit turnaround for the first time. It is reported that in 2024, Heyu reached a business development transaction with the well-known multinational pharmaceutical company Merck for its core product Pimicotinib (ABSK021), and received an initial payment of 70 million US dollars. Heyu also announced that the board of directors has approved a share buyback plan, using up to 200 million Hong Kong dollars to repurchase company shares in the market. It is reported that on March 13, 2024, the board of directors approved the repurchase of shares with an amount not exceeding 100 million Hong Kong dollars to enhance shareholder value. As of the end of the year ended December 31, 2024, the company has repurchased and cancelled a total of 22.594 million shares, involving a cumulative amount of 68.7 million Hong Kong dollars.