HK Stock Market Move | GIANT BIOGENE(02367) Falls 4% Intraday to Nearly Four-Year Low; Citi Says Its Third Quarter Not Yet Encouraging Enough

GIANT BIOGENE (02367) fell 4% intraday, touching HK$22.08, a new low since late November 2022. As of press time, it was down 3.22% at HK$22.26, with turnover of HK$129 million. On the news front, Citi released a research report stating that growth in China's online cosmetics sales slowed in the third quarter of 2026 compared with the first half, mainly dragged down by international brands, as the market entered the off-season after the 618 shopping festival, consistent with the trend in National Bureau of Statistics retail data. Within the bank's coverage, GIANT BIOGENE's brand online GMV is recovering from a low base, but the third quarter is not yet encouraging enough. In addition, on October 20, GIANT BIOGENE's new brand "1'me" made its debut in Li Jiaqi's livestream. It is reported that 1'me focuses on the internal-external linkage of skincare and oral nutrition, and enters the market with rare ginsenosides as its core ingredient. It is worth noting that the two major brands Comfy and Collagen have formed the foundation of GIANT BIOGENE's skincare business, with their combined revenue share consistently accounting for more than 97% of the group's total revenue.