--- title: "Yinuo Pharmaceutical's stock rose 206.48% on its first day of listing in Hong Kong, becoming the first case under the new clawback rules." type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/33047554.md" description: "Zhen Zhuo News, August 17 - Yinuo Medicine $Yinuo Medicine-B(HK|02591)$ saw a significant surge in its stock price on its first day of listing. By the close of the trading day, Yinuo Medicine was quoted at HKD 57.25, a staggering 206.48% increase from its final offering price of HKD 18.68. On the news front, the company officially debuted on the Hong Kong Stock Exchange on August 15, becoming the first case under the exchange's "New Allocation Mechanism" (Mechanism B). Its public offering was subscribed by over 250,000 investors, with an oversubscription rate of approximately 5,341.66 times, freezing nearly HKD 300 billion..." datetime: "2025-08-17T05:07:02.000Z" locales: - [en](https://longbridge.com/en/topics/33047554.md) - [zh-CN](https://longbridge.com/zh-CN/topics/33047554.md) - [zh-HK](https://longbridge.com/zh-HK/topics/33047554.md) author: "[真灼财经](https://longbridge.com/en/profiles/1067948.md)" --- # Yinuo Pharmaceutical's stock rose 206.48% on its first day of listing in Hong Kong, becoming the first case under the new clawback rules. Zhenzhuo News, August 17: Yinuo Medicine [$Yinuo Medicine-B(HK|02591)$](https://quote.eastmoney.com/unify/r/116.02591) saw a significant surge in its stock price on its first day of listing. By the close of the trading day, Yinuo Medicine was quoted at HKD 57.25, a staggering 206.48% increase from its final offering price of HKD 18.68. On the news front, the company officially listed on the Hong Kong Stock Exchange on August 15, becoming the first case under the HKEX's "New Allocation Mechanism" (Mechanism B). Its public offering was subscribed by over 250,000 investors, with an oversubscription rate of approximately 5,341.66 times, freezing nearly HKD 300 billion. On the first day of trading, the stock opened with a 285.44% increase and reached a peak intraday gain of over 280%. The company's core product, Esupaglutide (brand name: Yinuoqing), is the first domestically developed long-acting human GLP-1 receptor agonist approved for marketing in China. It was commercialized in February this year for the treatment of type 2 diabetes and is now being expanded to indications such as obesity and MASH. The booming weight-loss drug sector has driven collective gains in related concept stocks in Hong Kong and A-shares. From the company's perspective, the Phase IIb/III clinical trial of Esupaglutide for obesity and overweight was initiated in March 2025 and is expected to be completed in the fourth quarter of 2026. A global multicenter Phase IIa trial for MASH is planned to start in 2026. Meanwhile, the company is developing preclinical and IND-ready candidate drugs for metabolic diseases such as obesity, overweight, MASH, and T2D. Financially, the prospectus shows that the company's net losses for 2023, 2024, and the first five months of 2025 were RMB 733 million, RMB 175 million, and RMB 97.875 million, respectively. Benefiting from the commercialization of its core product, the company generated revenue of RMB 38.14 million in the first five months of 2025, primarily from Esupaglutide sales. Cumulative losses for 2023, 2024, and the first five months of 2025 amounted to approximately RMB 1.006 billion, mainly due to R&D and administrative expenses. Institutional analysis by Guoyuan International Research Report suggests that Yinuo Medicine's advantage lies in its advanced recombinant fusion protein platform, which endows Esupaglutide with a long half-life and high efficacy. Additionally, the use of a disposable auto-injector pen eliminates the need for dose titration, simplifying the medication process. ### Related Stocks - [02591.HK](https://longbridge.com/en/quote/02591.HK.md)