HK Stock Market Move | HJ SCIENCE-B (06132) plummeted by nearly 45% on its first day of trading. Its total market value is less than 3.5 billion Hong Kong dollars. The company has yet to have any products approved for commercial sale.

HJ SCIENCE-B (06132) was listed today, with the stock dropping nearly 45% in the morning session, causing the total market value to fall below 3.5 billion Hong Kong dollars. As of the time of writing, it has dropped by 39.95% to 49.12 Hong Kong dollars, with a trading volume of 525 million Hong Kong dollars. The prospectus shows that Hua Jian's future focus is on the research and development of small molecule chemical drugs, with a focus on the fields of oncology, autoimmune diseases, and metabolic system diseases. The company has three core products, HJ787, HJ178, and HJ891, all of which are independently developed small molecule drugs classified as Class 1 innovative drugs by the National Medical Products Administration. So far, Hua Jian has not had any products approved for commercial sales, and has not generated any revenue from product sales. Financially, in 2024 and 2025, the company's income will all come from external licensing and cooperation agreements with JUNSHI BIO and/or YUNZE CHUANGYAO, totaling around 1.8 million yuan and 12.98 million yuan respectively. Meanwhile, Hua Jian is expected to record a net loss of approximately 202 million yuan and 135 million yuan in 2024 and 2025 respectively.