--- title: "Hong Kong Stock Movement: BAO PHARMA-B plummets 49.69%, no significant news but shows volatility, what is driving the market sentiment?" type: "News" locale: "en" url: "https://longbridge.com/en/news/284696906.md" description: "BAO PHARMA-B fell 49.69%; Innovent Biologics rose 4.18%, with a transaction volume of HKD 970 million; CanSino Biologics rose 0.95%, with a transaction volume of HKD 586 million; 3SBio rose 3.78%, with a transaction volume of HKD 440 million; BeiGene fell 2.57%, with a market value of HKD 269 billion" datetime: "2026-04-30T05:06:59.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284696906.md) - [en](https://longbridge.com/en/news/284696906.md) - [zh-HK](https://longbridge.com/zh-HK/news/284696906.md) --- # Hong Kong Stock Movement: BAO PHARMA-B plummets 49.69%, no significant news but shows volatility, what is driving the market sentiment? **Hong Kong Stock Movement** BAO PHARMA-B, down 49.69%, with no significant news recently. The trading is active, and the capital flow is evident. Considering the sector and industry trends, the stock shows significant volatility, and the specific reasons need further observation. **Stocks Ranked High in Industry Transaction Volume** Innovent Biologics up 4.18%. Based on recent news, 1. On April 30, Innovent Biologics announced that its product revenue for the first quarter exceeded RMB 3.8 billion, a year-on-year increase of over 50%. This strong performance enhances confidence in the company's sustained rapid revenue growth, further solidifying its position as a high-growth and certain leader in China's biopharmaceutical industry. 2. On April 30, Innovent Biologics announced that five tyrosine kinase inhibitors were newly included in the national medical insurance drug list, achieving rapid volume growth, making the comprehensive product line a strong emerging driver of the company's revenue growth. 3. On April 28, Bank of America Securities released a research report, maintaining a "Buy" rating for Innovent Biologics with a target price of HKD 116.8. The total sales of sample drugs in February increased by 32% year-on-year. The biopharmaceutical industry has performed strongly recently, with accelerated innovative drug development. Kangfang Biotech up 0.95%. Based on recent key news: 1. On April 28, Kangfang Biotech's Cadonilimab achieved counter-seasonal growth in February, with sales increasing by 249.5% year-on-year and 9.6% quarter-on-quarter. This growth occurred during the Lunar New Year holiday, demonstrating strong market demand for the drug. Bank of America Securities maintains its "Buy" rating with a target price of HKD 162.8. 2. On April 28, Huaxin Securities pointed out that Kangfang Biotech's performance in the IO 2.0 era is outstanding, and if the OS data for Ivosidenib is positive, it will become an important catalyst for registration pathways and commercialization expectations. This expectation has boosted market confidence in Kangfang Biotech. 3. On April 29, at the ASCO conference, Kangfang Biotech's bispecific antibodies and ADC products were considered core assets of China's innovative drugs, further consolidating its competitiveness in the global market. The innovative drug sector is densely packed with catalysts, attracting high market attention. 3SBio up 3.78%. Based on recent key news: 1. On April 29, 3SBio announced significant progress in its new drug development in a statement on the Hong Kong Stock Exchange. This news boosted market confidence, driving the stock price up by 3.78%. The announcement detailed the clinical trial results of the new drug, showing good efficacy and safety, attracting investor attention. 2. On April 28, industry analysts gave a positive evaluation of 3SBio's future growth potential. Analysts pointed out that the company's innovation capabilities and market expansion strategies in the biopharmaceutical field will help increase its market share, further driving up the stock price. 3. On April 27, macroeconomic data indicated an increase in capital inflow into the Hong Kong market, with rising investor interest in the biopharmaceutical industry. The increase in capital inflow supports 3SBio's stock price, reflecting the market's optimistic expectations for the industry. The biopharmaceutical industry has performed strongly recently, with significant capital inflow **Stocks Ranked Among the Top by Market Capitalization in the Industry** BeiGene fell 2.57%. Based on recent key news: 1. On April 27, BeiGene signed a cooperation agreement with Huahui Health, obtaining global exclusive development, production, and commercialization rights for a tri-specific compound targeting PD-1/CTLA-4/VEGF-A. The agreement involves potential payments of up to $2 billion, and the market reacted variably, leading to significant stock price fluctuations. 2. On April 28, BeiGene announced the signing of an exclusive option, licensing, and cooperation agreement with Huahui Health, paying a $20 million upfront fee, and up to $374 million upon achieving development and regulatory milestones, with up to $1.53 billion payable upon sales milestones. This news attracted market attention, resulting in stock price fluctuations. 3. On April 27, BeiGene recorded a large cross-trade transaction, with a transaction amount exceeding HKD 21.52 million, and the stock price was less than 0.1% lower than the previous day's closing price. This transaction drew market attention, leading to stock price fluctuations. 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