HK Stock Market Move | AKESO (09926) rose more than 6%, planning to repurchase shares of up to 200 million Hong Kong dollars. The chairman and senior executives plan to increase their holdings.

AKESO (09926) rose over 6%, reaching 5.64% at the time of publication, with a price of 92.75 Hong Kong dollars and a turnover of 7.97 billion Hong Kong dollars. On the news front, AKESO announced that the board of directors has approved the repurchase of company shares in the open market. A maximum of 200 million Hong Kong dollars will be used, and the share repurchase will be executed by the trustee of the company's 2021 restricted share unit plan. In addition, the company stated that Chairman, President, and CEO Xia Yu, Executive Director Li Baiyong, Wang Zhongmin, Zhang Peng, and Chief Financial Officer Wang Bingzhong plan to increase their shareholdings in the company through open market share repurchases, with a total limit of 50 million Hong Kong dollars, subject to compliance with listing rules and other applicable laws and regulations. Zhongtai pointed out that with the rapid growth of sales revenue from core products such as AK112, combined with effective cost control, the company is expected to reach a turning point in profitability and enter a new phase of steady improvement in development. The bank believes that the dual immunity platform not only breeds IOplus: 1) Dual-action ADCs have molecules entering clinical stages, leading the way to a new treatment paradigm of IO2.0+ADC2.0; 2) AK152 (anti-A/BBB receptor) for the treatment of Alzheimer's I is entering clinical trials; 3) AK139 (IL-4R/ST2) FIC self-immune bispecific antibody has initiated phase II clinical trials.