HK Stock Market Move | REMEGEN (09995) opened nearly 4% higher, expecting a net profit attributable to shareholders of approximately 4.7 billion yuan for the first half of the year.

REMEGEN (09995) opened nearly 4% higher and, as of the time of writing, has risen 3.94% to HKD 85.8, with a trading volume of HKD 13.6422 million. In terms of news, REMEGEN announced its performance, expecting to achieve approximately RMB 5.85 billion in revenue for the first half of the year, an increase of about 433% year-on-year; it anticipates a net profit attributable to the parent company of about RMB 4.7 billion, turning from a loss to profitability compared to the same period last year; and estimates a net profit of approximately RMB 4.3 billion after deducting non-recurring gains and losses for the owners of the parent company. The announcement indicated that the growth in performance is mainly due to the continuous increase in domestic sales revenue of the company's core products, Tislelizumab and Vidatuximab; the company signed an exclusive licensing agreement with AbbVie for RC148, granting AbbVie exclusive rights for development, production, and commercialization of RC148 outside the Greater China region, resulting in a substantial increase in the company's technology licensing income.