HK Stock Market Move | BAO PHARMA-B(02659) has increased by over 10%, nearly 4.5 times the IPO price. Several products will significantly contribute to revenue starting this year.

BAO PHARMA-B (02659) rose by more than 10%, reaching a high of 143 Hong Kong dollars, an increase of over 440% compared to the IPO price of 26.38 Hong Kong dollars. As of the time of writing, it has risen by 9.88% to 142.4 Hong Kong dollars, with a trading volume of 43.2575 million Hong Kong dollars. Public information shows that Baoji Pharmaceutical owns China's first recombinant human hyaluronidase KJ017, used for high-capacity subcutaneous drug delivery; the world's first IgG degradation enzyme KJ103 with "best in class" potential in terms of low pre-existing antibodies and dosing frequency, used for antibody-mediated autoimmune diseases; and a long-acting follicle-stimulating hormone drug SJ02, which has received collaborative validation for use in assisted reproduction. These three core products have entered the commercialization phase, new drug application registrations, or late-stage clinical trials in China, indicating that Baoji Pharmaceutical is transitioning from pure research and development to the commercialization phase. It is worth noting that Xiniu Securities released a research report stating that Baoji Pharmaceutical has set a clear commercialization model and timetable. The firm believes that the group's products will start to contribute significantly to the group's revenue from 2026 onwards, with KJ017 and SJ02 being the main sources of income. Additionally, KJ103, used for kidney transplant desensitization, is expected to contribute to the group's revenue from 2027 onwards, while the KJ103 products for GBS and anti-GBM disease will start to contribute to the group's income at a later date.