HK Stock Market Move | KINTOR PHARMA-B (09939) fell nearly 9% at one point, with stock prices falling by 30% over two days, sparking controversy over the strongest whitening ingredient with Bayer's Stoudorf.

KINTOR PHARMA-B (09939) fell by nearly 9% again this morning, with the stock price falling by over 30% in two trading days. As of the time of writing, it has fallen by 7.37%, closing at 2.89 Hong Kong dollars, with a turnover of 13.977 million Hong Kong dollars. On the news front, on the evening of March 18, German beauty giant Beiersdorf suddenly issued a statement directly accusing Suzhou Kintor Pharma of its external claims and market activities regarding its whitening raw material KT-939. Beiersdorf stated that they have completed scientific evaluation and legal evidence, and will take necessary measures to protect their innovative product "Eucerin Anti-Pigment Dual Serum630". Earlier on March 17, Kintor Pharma announced the signing of a strategic cooperation framework agreement related to the rapid commercialization of their whitening and spot-removing cosmetic raw material KT-939. The company aims to position KT-939 as the "strongest domestic whitening agent with industry influence". On the evening of March 19, Kintor Pharma responded to Beiersdorf's statement by stating that they "firmly oppose any bullying and extorting commercial behavior", and claiming that they will gather further evidence and exercise their legal rights to protect the company and shareholders' interests if Beiersdorf's statement damages the company's reputation and causes stock price fluctuations without providing any substantial evidence mentioning Kintor Pharma and KT-939.