On June 23, HJ Science-B fell 12.78% in regular trading on its first day of listing, trading at 65.2 HKD/share with turnover of HKD 418 million, significantly breaking below its IPO price of 81.80 HKD per share.

On the news front, despite receiving 2,007.6x oversubscription in the Hong Kong public offering and surging approximately 49%-53% in grey market trading the day before, the stock broke its offering price immediately upon official listing. The company completed a global offering of 13.6 million H shares at 81.80 HKD per share, raising net proceeds of approximately HKD 1.019 billion. Market concerns center on the fact that HJ Science-B remains a clinical-stage biotech company with no products approved for commercial sale and zero revenue from product sales. In fiscal years ending in recent periods, the company recorded net losses of RMB 202.3 million and RMB 135.1 million respectively, while annual R&D expenditure reached RMB 110.2 million with minimal cash reserves prior to listing.

HJ Science was co-founded by multiple PhD-level experts and focuses on the research and development of innovative drugs targeting oncology, autoimmune diseases, and metabolic disorders.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)