HK Stock Market Move | GIANT BIOGENE(02367) Falls Another 4% Toward Previous Low; Citi Says Q3 Not Encouraging Enough, Market Focuses on Double 11 Performance

GIANT BIOGENE (02367) fell more than 4% in morning trading, touching an intraday low of HK$21.08, approaching its historical low of HK$20.485. As of press time, it was down 4.12% at HK$21.42, with turnover of HK$15.5817 million. Citi issued 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 has not yet been encouraging enough. In the article "Giving Back All Prior Gains Within Three Months, Can Double 11 Launch a Turnaround for GIANT BIOGENE (02367) Shares?", it was pointed out that among the highlights of the "Double 11" event, investors need to observe not only the sales performance data of the event but also GIANT BIOGENE's S+-tier new product, the Ultra-Permeation Stick from the Comfy Focus series launched in April this year. The sales performance of this "Double 11" may, to a certain extent, verify whether it can serve as the "strategic relay product" after GIANT BIOGENE's flagship collagen stick, and thereby directly determine whether the market believes the company can switch from a "reliance on a single hit product" to a "product matrix-driven" logic.