HK Stock Market Move | Huaren Bio-B (02396) plunged more than 18% on the second day of listing, a drop of more than 40% from the IPO price.

Huarent Bio-B (02396) plummeted nearly 30% yesterday, followed by another drop of over 18% this morning, hitting a low of 21.82 Hong Kong dollars in intraday trading, down more than 40% from the IPO price of 38.2 Hong Kong dollars. As of the time of writing, the stock has fallen 18.59% to 21.98 Hong Kong dollars, with a turnover of 32.4875 million Hong Kong dollars. According to public information, Huarent Bio is a biopharmaceutical company founded in 2012, focusing on the discovery, development, and commercialization of wound healing therapies. As of December 5, 2025, the company's pipeline includes ten candidate products, seven of which are PDGF candidate drugs, including the core products Pro-101-1 and Pro-101-2. Financially, the company has not generated any revenue from product sales. The company reported net losses of 110 million yuan, 210 million yuan, and 130 million yuan in 2023, 2024, and up to September 30, 2025, respectively. The majority of the company's net losses are due to research and development expenses and administrative expenses.