ANTENGENE-B (06996) experienced a significant surge of 5.23% during intraday trading on Wednesday. The sharp upward movement in the biopharmaceutical company's stock price followed the announcement of substantial share purchases by its top management.

The company disclosed that its founder, CEO, and chairman Dr. Jay Mei, along with CFO Donald Andrew Lung and corporate vice president Yang Cao, collectively invested approximately HK$3.85 million to purchase company shares on the open market. Dr. Mei acquired 200,000 shares at an average price of around US$0.512 per share, increasing his stake to approximately 27.16% of the issued share capital.

Management stated that these purchases reflect their firm confidence in Antengene's long-term investment value, robust research and development capabilities, product pipeline, and sustainable growth prospects. The executives indicated they may consider further increasing their holdings in the future, subject to regulatory compliance, reinforcing their commitment to the company's development.