HK Stock Market Move | Crystal Technology (02228) rose by over 5%, helping Zhiqing Life Sciences' new drug to obtain clinical trial approval. The commercialization of the company's AI pharmaceutical business is steadily advancing.

Crystal Tech (02228) rose more than 5%, rising 5.06% to HKD 10.37 as of press time, with a trading volume of HKD 9.64 billion. On the news front, recently, Crystal Tech announced that the new generation PRMT5 inhibitor PEP08, discovered by its support to PharmaEngine, Inc., has reached an important clinical research milestone. PEP08 has recently obtained clinical trial approvals from the Human Research Ethics Committee (HREC) of Australia, the Therapeutic Goods Administration (TGA) of Australia, and the Taiwan Food and Drug Administration (TFDA), indicating that the drug is about to initiate Phase I clinical trials. Based on this progress, Crystal Tech has confirmed the milestone payment for this project. CMSC pointed out that Crystal Tech's AI pharmaceutical business is steadily advancing commercialization, with a year-on-year growth rate of up to 615% in drug discovery business in the first half of 2025. It has maintained long-term cooperation with global top pharmaceutical companies such as Pfizer and Johnson & Johnson, and the company has signed a pipeline cooperation contract with DoveTree with a total order size of USD 5.99 billion, and has received an initial payment of USD 51 million as agreed in the contract, contributing to the performance increase. By sharing quantum computing, multimodal AI, and automation platforms, Crystal Tech has achieved the cross-domain reuse of its technology platform, successfully expanding into multiple fields such as new energy, agriculture, and industrial materials.