HK Stock Market Move | GIANT BIOGENE (02367) surged more than 6% to hit a new high, with strong performance predicted for the full year. Pre-sales for Kann Fu Mei have also shown impressive results recently.

GIANT BIOGENE (02367) rose more than 6%, reaching a high of 69.3 Hong Kong dollars, a new high since its listing. As of the time of writing, it had increased by 6.32% to 69 Hong Kong dollars, with a trading volume of 2.41 billion Hong Kong dollars. On the news front, on the evening of February 27, Li Jiaqi's live broadcast room started the pre-sale of the 38th major promotion. According to Qingyan Intelligence statistics, the GMV of the first live broadcast in beauty and cosmetics exceeded 9.3 billion yuan, a year-on-year increase of 2.5%. The Kefumei Collagen Stick was the best-selling single product in the live broadcast room, with over 90,000 deposits for the single product, and the collagen bucket also made its first appearance in Li Jiaqi's live broadcast room. Previously, Kefumei launched the first series of products specifically for repairing heat-damaged skin - the Kefumei Frame Domain Dense Repair Series. This series not only provides solutions for medical beauty full-cycle care but also covers multiple efficacy needs such as daily wrinkle control, firming, and rejuvenation. Morgan Stanley previously pointed out that the company's profit growth for fiscal year 2024 and 2025 is expected to be 37% and 23% respectively, and the upcoming full-year performance is expected to be stronger than other companies covered by the bank. Citi's previous research report stated that, after revision, it is expected that GIANT BIOGENE's revenue in 2024 will increase by 52% year-on-year, and net profit will increase by 40% year-on-year, consistent with management guidance. It is also expected that net profit for 2025-2026 will increase by 27%/21% respectively, benefiting from revenue growth of 30%/26% respectively.