HK Stock Market Move | GIANT BIOGENE (02367) fell more than 5% in trading, and its subsidiary Kefumei's ranking for this year's Double Eleven has dropped.

GIANT BIOGENE (02367) fell more than 5% during trading hours, dropping 4.42% to HK$37.62 by the time of publication, with a turnover of HK$285 million. On the news front, according to 21st Century Business Herald, data from Qinyan showed that in the Tmall promotion rankings for cosmetics from 2023 to 2025, Kefumei rose from 10th place to 5th place, but has since fallen to 20th place this year. In addition, Kefumei, which used to be a regular on the Douyin makeup list, has been consistently falling out of the top 20 since June this year. Citibank's previous research report pointed out that GIANT BIOGENE's flagship products saw a decrease in attractiveness in price due to a more rigorous promotional strategy in the live broadcast rooms of Li Jiaqi. Mom Chang data further confirmed this trend: from October 9th to 16th, Kefumei's GMV on the Douyin platform was 0.5-0.75 billion yuan, significantly shrinking from over 1 billion yuan in the same period last year.