HK Stock Market Move | Giant Biogene (02367) fell more than 3%, hitting a new low for the year. The stock price has been halved from its high point in May. Its ranking in the Double Eleven sales event may decline.

GIANT BIOGENE (02367) fell more than 3%, hitting a new low for the year at HK$35.54. In late May of this year, the company's stock price plummeted due to controversy surrounding collagen components, and the current stock price has dropped significantly from its May peak. As of the time of writing, it has dropped by 3.46% to HK$35.68, with a trading volume of HK$1.99 billion. On the news front, according to Qingyan Intelligence, domestic brands occupied 5 of the top 10 positions in the Douyin beauty list for this year's Double Eleven festival, with GIANT BIOGENE's Kefumei dropping out of the top 10. In the top 20 list of Tmall beauty products for Double Eleven, Kefumei ranked 18th, down 5 positions from last year. According to 21st Century Business Herald, Kefumei, which used to be a regular on the Douyin beauty list, has continuously dropped out of the top 20 since June of this year. Jianghai Securities believes that with more players in the collagen industry, it is advisable to pay attention to GIANT BIOGENE's marketing strategies and sales performance of this product in the future.