On October 2, INNOCARE fell 8.72% in regular trading, trading at 13.36 HKD/share, with turnover of approximately 10.34 million HKD, as a major shareholder stake reduction and broad biotech weakness pressured the stock.

On the news front, the company disclosed on October 1 that Sunland BioMed Ltd and its concert parties reduced their aggregate stake from 7.23% to 6.94%, triggering the 1% threshold notification requirement. Sunland BioMed directly sold 5 million shares on September 30 in the Hong Kong market, cutting its direct holding from approximately 79.33 million shares to 74.33 million shares. The reduction signal weighed on market sentiment.

Simultaneously, the broader biotechnology sector experienced systematic selling pressure. Within the sector, BEONE MEDICINES fell 7.28%, 3SBIO declined 5.79%, INNOVENT BIO dropped 5.35%, SKB BIO lost 5.05%, and AKESO slipped 3.50%, amplifying downward momentum across the board.

Notably, INNOCARE had previously announced a landmark research collaboration and license agreement with Eli Lilly worth up to 3.35 billion USD on September 24, which had driven volatile trading. UBS maintained a Buy rating with a target price of 21.80 HKD, citing the deal as validation of the company's R&D capabilities.

(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.)