**Source: Financial News** 【Introduction】Hong Kong stocks adjusted, and TRANSTHERA-B demonstrated unusual movements. Today, the three major indices in Hong Kong displayed varied performances. The dividend sector strengthened overall, leading to a gain in the Hang Seng China Enterprises Index. However, automotive, semiconductor, and tech stocks faced declines, pulling down the Hang Seng Index. Meanwhile, "meme stock" TRANSTHERA-B experienced another dramatic surge in its stock price.

**Dividend Assets Helps HKEx Index Turn Positive** On October 16, the three major indices in Hong Kong saw initial declines in the morning, but rebounded in the afternoon. By the close, the Hang Seng China Enterprises Index was up 0.09%, the Hang Seng Index slightly fell by 0.09%, while the Hang Seng Technology Index dropped by over 1%.

In the market, dividend sectors, including banking, resources, and public utilities, performed strongly, helping the Hang Seng China Enterprises Index turn positive. The losses for both the Hang Seng Index and the Hang Seng Technology Index narrowed, with automotive, semiconductor, and tech stocks dragging down the performance of the Hang Seng Technology Index. Today, southbound funds recorded a net inflow of HKD 15.8 billion, with the total trading volume of Hong Kong stocks reaching HKD 275.4 billion.

**Decline in New Energy Vehicle Stocks** The new energy vehicle sector saw an overall downturn, with Li Auto, Xpeng Motors, and Leap Motor down by 3.92%, 3.50%, and 1.51%, respectively. Furthermore, rumors regarding large robot orders for Sanyuan Smart Control were confirmed to be false, resulting in a drop of over 6% for the company.

Sanyuan Smart Control recently announced that they had noticed a significant number of rumors circulating on social media about gaining large robot orders. Upon verification, these rumors were found to be untrue, and the company has no undisclosed substantial matters. As of October 15, 2025, the company had not participated in any media interviews.

**Will TRANSTHERA-B Make a Comeback?** TRANSTHERA-B surged by 46.34%, with its intraday peak increase reaching 55%.

Just a month ago, on September 16, TRANSTHERA-B faced a dramatic price collapse, dropping over 50% in a single day. The company launched on the Hong Kong stock market on June 23 and remains a relatively new small-cap stock. Due to poor performance, it reported losses of HKD 343 million, HKD 275 million, and HKD 123 million for 2023, 2024, and the first half of this year, respectively.

Benefiting from the bullish trend of innovative drugs in Hong Kong, TRANSTHERA-B's stock price experienced a significant rise after its listing. It was included in various indices like the Stock Connect and the Guozheng Hong Kong Stock Connect Innovative Drug Index on September 8, leading to an impressive surge of nearly 558% from September 8 to 15.

However, from September 16 to October 16, TRANSTHERA-B's stock price exhibited a continuous downward trend. Its latest closing price stood at HKD 166 per share, still short of the closing price of HKD 192 per share on September 16.

**Innovative Drugs Defy Market Trends** Today, the innovative drug sector performed well, with companies such as 3SBio, Sino Biopharmaceutical, Rongchang Biotech, and CanSino Biologics seeing notable gains, up 5.81%, 5.79%, 4.77%, and 4.75%, respectively.

According to Jiasheng International, despite the increased volatility in the pharmaceutical sector since October, the overall trend towards innovative drug investment remains unchanged.

In news, the European Society for Medical Oncology (ESMO) Annual Congress 2025 is set to take place from October 17 to 21 in Berlin, Germany. As a premier global oncology conference, ESMO is expected to unveil several critical clinical research findings, capturing significant market attention.

Recently, Pfizer's Chairman and CEO, Albert Bourla, emphasized the necessity for collaboration between the U.S. pharmaceutical industry and China, praising China's demonstrated advantages in speed, cost control, and scale within the biopharmaceutical sector, which is profoundly transforming the global competitive landscape.

Overall, major tech players underperformed, exerting downward pressure on the Hang Seng Technology Index. Xiaomi fell over 3%, a decline of 2.76% was seen in SMIC, while other giants like Alibaba, JD.com, and Meituan also reported losses.