HK Stock Market Move | RIBOLIFE-B (06938) rose over 9% after being included in the Hang Seng Composite Index, with expected revenue in the first half projected to increase by up to 3.2 times.

RIBOLIFE-B (06938) rose by more than 9%. As of the time of writing, it has increased by 8.9%, priced at HKD 58.15, with a transaction volume of HKD 32.0351 million. In news, the Hang Seng Index Company announced on August 21 the results of its semi-annual index adjustment, which includes Ribo Bio being incorporated into the Hang Seng Composite Index. The changes will be implemented after the market closes on September 4 and will take effect from September 7, at which time the Shanghai and Shenzhen Stock Exchanges will adjust the scope of investable stocks under Stock Connect accordingly. Following this inclusion in the Hang Seng Composite Index, the company's stock is expected to meet the qualifications for investable stocks under Stock Connect. Previously, Ribo Bio anticipated revenue of approximately RMB 311 million to 436 million for the first half of this year, representing a year-on-year increase of about 200% to 320%. This growth was primarily due to the recognition of license revenue from the group's global exclusive licensing collaboration with Madrigal Pharmaceuticals, Inc., as well as revenue recognized upon achieving milestones in collaboration with Boehringer Ingelheim International GmbH. Both collaborations involve the development and commercialization of small interfering RNA (siRNA) therapies for metabolic dysfunction-associated steatotic liver disease (MASH).