BAO PHARMA-B (02659) saw its shares surge more than 23% at one point during late trading. At the time of writing, the stock was up 6.22%, trading at HK$26.66 with a turnover of HK$361 million. The catalyst for the move is the company's recent announcement regarding its inclusion in the MSCI Global Small Cap Index. According to the index review results published by MSCI Inc. on May 12, 2026, BAO PHARMA-B has been successfully added as a constituent. The adjustment is set to take effect after the market close on May 29, 2026. This inclusion is seen as a significant milestone that enhances the company's visibility and influence in the global capital markets. It is expected to attract broader attention from international investors, potentially leading to incremental passive fund inflows, and further improving the stock's market liquidity, trading activity, and international profile. Earlier this month, BAO PHARMA-B announced that it received notice from Dr. Liu Yanjun, the Chairman of the Board and a member of the company's controlling shareholder group. Based on his confidence in the group's prospects and growth potential, as well as his recognition of the company's long-term investment value, Dr. Liu intends to increase his shareholding in the company through open market transactions within three months from the announcement date. The company further disclosed that it will propose a special resolution at its upcoming Annual General Meeting. The resolution seeks approval for a share buyback mandate, authorizing the company's directors to repurchase up to 10% of the total issued H shares (excluding any treasury shares) as of the date the resolution is passed at the forthcoming meeting.