In midday trading, the Hong Kong market showed significant strength, with the Hang Seng Index advancing 481 points, or 2.12%, to reach 23,153 points.

The Hang Seng Tech Index posted a robust gain of 3.68%, while the Hang Seng Biotech Index surged an impressive 7.65%. Trading volume for the morning session reached HK$172.9 billion.

Biotech and Pharmaceutical Sectors Lead Gains

The Hang Seng Innovative Drug Index soared 8.9%, leading a broad-based rally in the sector. The momentum follows reports that over 600 drugs have passed initial review, signaling that negotiations for the "Medical Insurance + Commercial Insurance" dual-directory system are entering a substantive phase.

Among individual stocks, Remegen Co.,Ltd. (09995) jumped 15%. ConMab-B (02162) rose 14%, and Akeso, Inc. (09926) gained 12%. Innovent Biologics, Inc. (01801) was up 7%.

Specific Company Developments

Shanghai Henlius Biotech, Inc. (02696) climbed over 12% after its drug H received approval for a new indication in the EU, achieving comprehensive first-line treatment coverage for core lung cancer subtypes.

Ping An Healthcare and Technology Company Ltd. (01833) surged over 11%, as the company continues to benefit from deep synergies within its group and sees its operational capabilities optimized through AI empowerment.

XtalPi Holdings Limited (02228) gained over 15% following news that its AI-powered autonomous laboratory workstations were recently deployed at Sinopec.

Baoji Medicine-B (02659) rose over 8% after its new drug KJ103's marketing authorization application was recently accepted by China's National Medical Products Administration.

Vivace Therapeutics, Inc. (02617) announced a plan to repurchase up to HK$100 million worth of its H-shares, sending its stock price soaring 39%.

Dekon Agri & Food Group Limited (02419) advanced over 8% amid heightened expectations for a reversal in the hog cycle, with its management's substantial share purchases further highlighting the company's investment appeal.

Xunlei Limited (03317) surged over 19% after its share buyback plan was approved at a shareholders' meeting, and the stock has recently received positive coverage from several major brokerages.

Lygend Resources & Technology Co., Ltd. (02245) rose over 9% as the company continues to advance its listing on the Shenzhen Stock Exchange and forecasts a more than 57% year-on-year increase in first-half net profit.

Horizon Robotics-W (09660) jumped 15%, as the smart driving chip market consolidates into a "two-strong" competitive landscape, with the company's HSD chips entering mass production and vehicle integration.

GigaDevice Semiconductor (Beijing) Inc. (03986) rose nearly 7% to hit a fresh high, buoyed by reports that Apple is seeking to purchase memory from ChangXin Memory Technologies, with Citi expressing optimism for the related supply chain.

New Listings Performance

Dubbed the "first stock of innovative kidney drugs," Liban Medicine (09637) made its debut and surged 100% by midday.

White Pigeon Online (02672) also debuted, skyrocketing 317% by the lunch break. The company ranks fifth among internet insurance intermediaries operating in Chinese scenarios.

HG Semiconductor (01191) began trading and rose 45% by midday. The company's optoelectronic interconnect products are already widely used in AI data centers.

Notable Decliner

In contrast, Kingboard Holdings Limited (00148) fell over 7% for a second consecutive session as its major shareholder continued to reduce holdings for the third day in a row.