HK Stock Market Move | GIANT BIOGENE (02367) falls more than 4% against the trend, hitting a 9-month low. Market focus on whether Double Eleven can revive sales.

GIANT BIOGENE (02367) fell against the trend by more than 4%, hitting a new low of HKD 47.92 since January this year. As of the time of writing, it has dropped by 4.09% to HKD 48.1, with a turnover of HKD 4.57 billion. On the news front, the prelude to the 2025 "Double 11" shopping festival has quietly begun. According to Zheshang, the cosmetics industry had a slow quarter in Q3. According to data from Chnmama, the growth rate of some key brands on Douyin in Q3 weakened compared to the previous quarter, with GIANT BIOGENE's Q3 Douyin GMV increasing by 15%, with Komu increasing by 5% and Keli Jin increasing by 78% year-on-year. GIANT BIOGENE will focus on the Double 11 promotion in the second half of the year. It is worth noting that there was a new development in the restructuring of Komu's collagen protein earlier. Bloomage Biotechnology Corporation Limited announced at the end of September that it had cooperated with several third-party testing institutions including the National Institute of Metrology to conduct tests on the relevant products of the company. The results of dozens of tests all showed that the added amount of recombinant collagen protein in the products did not meet the standard. Bloomage Biotechnology Corporation Limited stated that they have submitted dozens of test reports to the National Medical Products Administration.