Pharmaron (03759) declined more than 3% again. As of the time of writing, the stock was down 3.41%, trading at HK$22.12 with a turnover of HK$113 million.

On January 15, Pharmaron announced a proposal to place nearly 58.4408 million new H shares at a price of HK$22.82 per share, representing a discount of approximately 8.5% to the closing price on January 14.

The net proceeds from the placement are expected to be around HK$1.319 billion, with about 70% allocated to the company's project construction to enhance the capabilities and capacity of its laboratory services facilities and drug process development and production facilities.

Furthermore, Pharmaron recently issued an earnings forecast, projecting its 2025 net profit attributable to shareholders of the listed company to be between RMB 1.614 billion and RMB 1.686 billion, a decrease of 6% to 10% compared to the previous year.

During the reporting period, the company's operating revenue increased by 13% to 16% year-on-year, while its net profit after deducting non-recurring gains and losses grew by 36% to 41% year-on-year.