CStone Pharmaceuticals-B (02616) saw its shares rise more than 6% during intraday trading. As of the time of writing, the stock was up 6.36%, trading at HK$5.69 with a turnover of HK$39.4446 million. According to data from the Hong Kong Stock Exchange, on December 23, 2025, Singapore's GIC increased its stake in CStone Pharmaceuticals by 904,500 shares, with a total investment of approximately HK$5.2892 million. Following this purchase, GIC's total shareholding has risen to about 119 million shares, representing an ownership stake of 8.06%. It is noteworthy that since GIC first disclosed a 5.49% stake in CStone Pharmaceuticals on August 18, 2025, its buying activity has been continuous: after two additional disclosures of stake increases on October 13 and November 10, its ownership ratio climbed to 7.11%, and has now reached 8.06% with this latest filing. A Ping An Securities research report points out that CStone Pharmaceuticals uses clinical development as its engine, with commercialized products from its R&D 1.0 phase providing reliable cash flow, while its R&D 2.0 phase projects focus on innovative pipeline layout and cutting-edge technologies; its core product candidates have already entered the clinical trial stage and the company will continue to advance further candidates into clinical development, with revenue forecasts of RMB 195 million, RMB 464 million, and RMB 633 million for 2025-2027, and the report initiates coverage with a "Recommended" rating.