Understanding the Market | DUALITYBIO-B rose over 13% during the session, recently announced plans to list on the Sci-Tech Innovation Board, with total BD transactions exceeding 6 billion USD

DUALITYBIO-B rose over 13% during intraday trading, and as of the time of writing, it is up 11.1%, priced at HKD 314.4, with a trading volume of HKD 573 million. In terms of news, DUALITYBIO previously announced that the company's board of directors has resolved to plan for a listing on the STAR Market, which is subject to market conditions and requires further approval from the board of directors, the shareholders' meeting, and regulatory agency permission. It is reported that on April 15 of this year, DUALITYBIO was officially listed on the main board of the Hong Kong Stock Exchange, raising over HKD 1.5 billion in its IPO, making it one of the largest IPOs in the Hong Kong stock market's 18A sector in the past four years. Guotai Junan Securities released a research report stating that the rapid pace of innovation has stimulated large-scale transactions in the ADC technology field, and the company has reached multiple external licensing and cooperation agreements with several industry-leading enterprises globally, including BioNTech, BeiGene, Adcendo, GSK, and Avenzo. The confirmed BD revenue for the first half of 2023/2024/2025 is expected to be RMB 1.781 billion / 1.937 billion / 1.227 billion, with a total transaction value exceeding USD 6 billion