HK Stock Market Move | GENOR-B(06998) is now up more than 4%. The proposed merger has been completed. It is planned to rename it as "Yiteng Jiahe" and remove the "B" designation.

GENOR-B (06998) rose more than 7% during trading hours, and as of the time of publication, it is up 4.9% at 3.21 Hong Kong dollars, with a trading volume of 2.2008 million Hong Kong dollars. On the news front, Jiahe Biology announced that it has completed the proposed merger and plans to rename itself as "Yiteng Jiahe Pharmaceuticals Group Limited"; starting from December 31, the company's English and Chinese stock abbreviations will no longer have the "B" designation. It is reported that on September 13, 2024, Jiahe Biology and Yiteng Pharmaceuticals entered into a merger agreement. Yiteng Pharmaceuticals plans to acquire Jiahe Biology through a stock swap, making this the first reverse takeover case in Hong Kong Stock 18A. It is worth noting that Jiahe Biology announced earlier this month that Larosicin (GB491) has been included in the National Medical Insurance Drug Catalog. The company believes that the inclusion of Larosicin (GB491) in the medical insurance catalog will not only greatly improve the accessibility of the drug for patients and reduce their economic burden, but will also accelerate the commercialization process and market penetration of Larosicin (GB491), further boosting innovation returns.