HK Stock Market Move | ALEBUND-B(09637) rose more than 11% in early trading, GIC and LAV both increased their holdings on the same day. AP301 has entered the NDA sprint stage.

ALEBUND-B (09637) rose more than 11% in early trading. As of the time of writing, it has risen 9.62% to 30.54 Hong Kong dollars, with a turnover of 42.01 million Hong Kong dollars. On the news front, on June 29, Libang Medicine received simultaneous increases in holdings from two important institutional shareholders. Singapore sovereign fund GIC increased its holdings by 872,000 shares, with a total amount of approximately 384.16 million Hong Kong dollars, and its stake increased to 7.09%. On the same day, LAV Asia Fund increased its holdings by 450,000 shares, with an investment of approximately 202.78 million Hong Kong dollars, and its stake increased to 7.20%. The two institutions collectively increased their holdings by over 1.32 million shares, with a cumulative investment of approximately 58.72 million Hong Kong dollars, demonstrating recognition of the long-term value of Libang Medicine. Guotou Securities International stated that Libang Medicine's core product AP301 has entered the NDA sprint stage, with commercialization expected within a window of 12-24 months. Guoyuan International also pointed out that the field of CKD has seen almost no innovation in the past few decades, and with Libang Medicine's core product AP301 leveraging its iron-based technology platform and excellent Phase III data, if NDA approval is obtained smoothly, it could fill a significant clinical unmet need in this field.