On May 28, Hengrui Medicine fell 3.08% in regular trading, trading at HK$58.6/share, with trading volume of approximately HK$84.08 million.

The decline extends the selloff triggered by a letter from US House China Select Committee Chairman John Moolenaar to Treasury Secretary Scott Bessent, urging that biotechnology be added to the prohibited technology list under the COINS Act. The letter specifically named Hengrui Medicine, citing its recently announced $15.2 billion global strategic collaboration with Bristol-Myers Squibb as a case of American capital and technology flowing into Chinese biotech.

Previously, the COINS Act restricted only semiconductors, AI, and quantum computing. Whether biotech is formally added depends on Treasury Department rulemaking, but the policy overhang has intensified selling pressure. The broader pharmaceuticals sector also traded weak, with HANSOH PHARMA down 4.67%, HUTCHMED down 4.38%, CMS down 4.24%, SBP GROUP down 3.6%, and CSPC PHARMA down 0.99%.

(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.)