HK Stock Market Move | HBM HOLDINGS-B(02142) has risen over 9%, with the stock price nearly tripling since the beginning of the year. The first payment of the authorization agreement with Windward Bio has been received.

HBM HOLDINGS-B(02142) rose over 9%, with the stock price nearly tripling in the year. As of the time of writing, it rose by 9.01% to 7.38 Hong Kong dollars, with a turnover of 40.0422 million Hong Kong dollars. In terms of news, Boao Pharmaceutical recently announced that, according to the license agreement signed with Kolon Life Science on HBM9378/SKB378 and Windward Bio AG, the company has received the corresponding upfront payment, including cash payment and equity of Windward Bio's parent company. According to the license agreement signed on January 10th, Windward Bio has obtained exclusive authorization to research, develop, produce, and commercialize HBM9378/SKB378 globally (excluding Greater China and some Southeast and West Asian countries). Boao Pharmaceutical and Kolon Life Science have the right to receive a total of up to USD 970 million in upfront and milestone payments, as well as single to double-digit percentage royalties based on net sales. Boao Pharmaceutical previously announced a profit forecast, expecting a profit ranging from 7.3 million to 22 million Chinese yuan by the end of the fiscal year ending December 31, 2024. During the period, the company achieved a record high cash profit of 220 million Chinese yuan. In addition, the company stated that it has bought back a total of 8.146 million shares in the open market, totaling nearly 30 million Hong Kong dollars. This progress reflects the company's confidence in its business prospects and outlook, while also indicating that the company's management believes that the current valuation is out of touch with the company's intrinsic value.