HK Stock Market Move | GIANT BIOGENE (02367) rebounds by more than 8%, controlling shareholder increases holdings by 500,000 shares, Citigroup says market's reaction to presale performance is exaggerated.

GIANT BIOGENE (02367) rebounded more than 8%, as of the time of writing, it was up 8.49% to HK$41.9, with a turnover of HK$400 million. On the news front, GIANT BIOGENE announced that its controlling shareholder Juzi Holding purchased 500,000 shares of the company's stock through the market on the announcement date, with the total amount of this increase being approximately HK$19.3 million; Since the disclosure of the increase plan on June 9, 2025, a total of 3.6666 million shares have been purchased, with a total investment of approximately HK$1.78 billion. After the increase, Juzi Holding's shareholding increased to 585 million shares, accounting for 54.61% of the total issued shares of the company, and will further increase its holdings based on market conditions and regulatory requirements. Citigroup recently released a research report stating that the market's reaction to GIANT BIOGENE's pre-sale performance on the first day of the Double 11 when Li Jiaqi livestreamed was excessive. Citigroup stated that although Li Jiaqi's livestream sales trend is an important indicator of the Double 11 performance, its contribution has sharply declined with the growth of other KOLs and the company's own livestream sales. Despite the fierce competition, the company has not seen any negative feedback from its customers on its products or brand. Given the low base this year, Citigroup expects GIANT BIOGENE's sales to recover and grow in the 2026 fiscal year, with its valuation still attractive.