JPAKESO@EC2610B

Chinese Innovative Pharmaceutical Companies Excel at 2026 ASCO Conference, Boosting Global Influence

First Shanghai Securities and CMB International Securities Maintain Buy Rating for Akeso

CanSino Biologics' AK112 Beats Merck's Keytruda, Achieves Systemic Transformation in Two Years

Guo Jin Securities Predicts Kangke Biotech's 2026 Net Profit to Grow Significantly

CICC and China International Securities Maintain Buy Rating and Set Target Price for Kangao Biologics

Canbiopharm Revenue Increases 43.9% in 2025, IVO-3001 FDA Application Accepted

CanAngen's Revenue Grew by 43.9% to 3.056 Billion Yuan in 2025

AKESO released FY2025 Q3 earnings on March 26, 2026 (BJT) with actual revenue of HKD 898.99 M and EPS of HKD -0.3259

AKESO released FY2025 9-month earnings on March 26 (BJT), actual revenue HKD 2.427 B, actual EPS HKD -1.0188

Kangkang Biotech Inc. Revenue Reaches 3.056 Billion Yuan in 2025, Loss Widens to 1.141 Billion Yuan

AKESO released FY2025 earnings on March 26 During-Market (BJT), actual revenue HKD 3.34 B (forecast HKD 3.655 B), actual EPS HKD -1.3473 (forecast HKD -0.3407)

AKESO released FY2025 Q4 earnings on March 26 During-Market (BJT), actual revenue HKD 914.5 M, actual EPS HKD -0.3315

AKESO to release FY2025 earnings report on March 26 During-Market (BJT), forecast revenue HKD 3.726 B, EPS HKD -0.3479

CanAngen's AK150 Receives Clinical Trial Approval

Nomura Adjusts Kanghong Biotech Revenue Forecast and Target Price

CanSino and Inovio Partner to Evaluate Efficacy in Glioblastoma Treatment

NMPA Approves Kangkang Biotech's AK139 to Enter Phase II Clinical Trials for 7 Indications

Kangkang Biologics Grants JinChuan Pharmaceutical Exclusive Commercialization Rights to Enoximab

CanSino Biologics' PD-1/VEGF Bi-specific Antibody Ivolimab Receives FDA Acceptance

CanSinoBio Updates Contract Manufacturing Arrangement with CTTQ-Akeso

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CHINA PARTYTIME

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HANVEY GROUP

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On April 28, 2026, in Hong Kong, Akeso, Inc.revealed that ivonescimab, their groundbreaking PD-1/VEGF bispecific antibody, has obtained significant enhancements and advancements in various treatment settings. The company's innovative drug has received widespread recognition and improvements for both initial and subsequent treatment stages.

Unusual Whales

AKESO

Ivonescimab Receives Major Recommendations Across Multiple Therapies in the 2026 CSCO NSCLC Guideline

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BofAS reported that Akeso's cadonilimab achieved month-over-month growth despite seasonal trends. In February, Akeso's drug sales reached RMB71.3 million, a 319.6% year-over-year increase, with cadonilimab sales at RMB44.3 million, up 249.5% YoY and 9.6% MoM. Ivonescimab also saw significant growth, with sales of RMB26.6 million, a 517.4% YoY increase. BofAS maintains a Buy rating on Akeso with a target price of HKD162.8.

AASTOCKS News

Bosera Hang Seng SCHK Innovative Drug Select ETF

Minsheng Royal CSI Biotechnology Theme ETF

Guotai CSI Bio-medicine ETF

ChinaAMC SSE STAR Biology and Medicine ETF

Yinhua CSI Innovative Drugs Industry ETF

Tianhong CNI BIOMEDICINE ETF

Hwabao WP Hang Seng SCHK Innovative Drug Select ETF

E Fund CSI Biotechnology Theme ETF

Fullgoal Hang Seng SCHK Innovative Drug & Healthcare ETF

China Merchants CSI Biotechnology Theme ETF

E Fund CSI 300 Health Care ETF

ICBCCS SSE STAR Biology and Medicine ETF

Penghua SSE STAR Biology and Medicine ETF

E Fund Hang Seng SCHK Innovative Drug ETF

Founder Fubon CSI Medicine and Medical Device Innovation ETF

Penghua CSI HK Connect Health Care Composite ETF

ChinaAMC SSE Health Care ETF Initiating Fund

ChinaAMC CSI Biotechnology Theme ETF

GF CSI HK Innovative Drugs Industry ETF(QDII)

Ping An CSI Medicine and Medical Device Innovation ETF

Huaan Hang Seng Biotech ETF

ChinaAMC Hang Seng Biotechnology Technology ETF(QDII)

China Southern Hang Seng Biotech ETF(QDII)

BofAS: Akeso  Cadonilimab Records MoM Growth Against Seasonality

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MANYCORE TECH(00068) fell 18.77%, with a trading turnover 1.1 Billion HKD, and a year-to-date rose 298.7%. GUOXIA TECH(02655) fell 15.31%, with a trading turnover 444.1 Million HKD, and a year-to-date fell 33%. NUOBIKAN(02635) fell 14.62%, with a trading turnover 148.7 Million HKD, and a year-to-date rose 4.3%.

Top Gainers&Losers

MANYCORE TECH

GUOXIA TECH

NUOBIKAN

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Top 10 HK Stock Losers (4.23)

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KB LAMINATES(01888) rose 10.63%, with a trading turnover 1.8 Billion HKD, and a year-to-date rose 158.8%. WEICHAI POWER(02338) rose 6.76%, with a trading turnover 1.1 Billion HKD, and a year-to-date rose 87.6%. AKESO(09926) fell 12.66%, with a trading turnover 3.1 Billion HKD, and a year-to-date rose 15.4%. MINIMAX-W(00100) fell 7.49%, with a trading turnover 1.5 Billion HKD, and a year-to-date rose 420.3%.

- The Hang Seng Index fell by 0.95%, with a year-to-date increase of 1.1%, while the Hang Seng Tech Index decreased by 1.98%, down 11.8% for the year.  
- Jian Tao Jici Ban (01888) rose by 10.63% with a trading volume of 1.76 billion HKD, marking a 158.8% year-to-date increase.  
- Weichai Power (02338) increased by 6.76% with a trading volume of 1.06 billion HKD, showing a 87.6% year-to-date rise, whereas Kangfang Biotech (09926) declined by 12.66%.

KB LAMINATES

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KNOWLEDGE ATLAS

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Top 5 HK Stock Gainers/Losers (>100B) (4.23)

Akeso fell 11.52%; Three Senses Pharmaceutical fell 12.73%, with a transaction volume of HKD 1.464 billion; Innovent Biologics fell 5.33%, with a transaction volume of HKD 1.021 billion; Rongchang Biologics fell 7.12%, with a transaction volume of HKD 431 million; BeiGene fell 1.82%, with a market value of HKD 282.4 billion

HK Stock Alerts

Hong Kong stock movement: AKESO fell 11.52%, with increased uncertainty in clinical data and strong market wait-and-see sentiment

AKESO fell 11.39%; 3SBio fell 8.49%, with a transaction volume of HKD 557 million; Innovent Biologics fell 4.31%, with a transaction volume of HKD 391 million; Rongchang Biologics fell 5.63%, with a transaction volume of HKD 190 million; BeiGene fell 0.11%, with a market value of HKD 287.6 billion

Hong Kong Stock Movement: AKESO fell 11.39%, with no significant news but showing volatility. What is driving the market sentiment?

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SKB BIO(06990) rose 6.97%, with a trading turnover 458.1 Million HKD, and a year-to-date rose 32.3%. AKESO(09926) rose 6.89%, with a trading turnover 1.7 Billion HKD, and a year-to-date rose 30.4%. MINIMAX-W(00100) fell 10.88%, with a trading turnover 1.9 Billion HKD, and a year-to-date rose 413.6%. KNOWLEDGE ATLAS(02513) fell 8.54%, with a trading turnover 1.9 Billion HKD, and a year-to-date rose 646.1%.

SKB BIO

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SBP GROUP

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Top 5 HK Stock Gainers/Losers (>100B) (4.15)

In a report released yesterday, from First Shanghai Securities maintained a Buy rating on Akeso, Inc., with a price target of HK$165.10.Claim 30% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks In a report released on March 30, CMB International Securities also maintained a Buy rating on the stock with a HK$185.80 price target.

Tip Ranks

FIRST SHANGHAI

First Shanghai Securities Sticks to Their Buy Rating for Akeso, Inc. (9926)

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Akeso, Inc. presented updated data on cadonilimab combination therapy for advanced NSCLC at ELCC 2026. The Phase Ib/II study showed a median progression-free survival of 7.0 months and a disease control rate of 95.2%. The combination therapy demonstrated meaningful anti-tumor activity and a manageable safety profile, supporting its potential as a second-line treatment option for patients resistant to PD-(L) 1 inhibitors. Akeso continues to innovate in biopharmaceuticals, focusing on developing first-in-class therapies.

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Direxion S&P Biotech Bull 3X

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First Trust NYSE Arca Biotech Index Fd

iShares Biotechnology ETF

Invesco Biotechnology & Genome ETF

Invesco Nasdaq Biotechnology ETF

SPDR S&P Biotech

ALPS Medical Breakthrough

Ark Genomic Revolution ETF

VanEck Biotech ETF

23:28 ETAkeso Presents Updated Data on Cadonilimab Combination Therapy in PD-(L) 1 Inhibitor-Resistant Advanced NSCLC at ELCC 2026

CICC analyst maintained a Buy rating on Akeso, Inc. yesterday and set a price target of HK$184.00.End of Quarter Sale - 50% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks In a report released on March 30, CMB International Securities also maintained a Buy rating on the stock with a HK$185.80 price target.

CICC Remains a Buy on Akeso, Inc. (9926)

Keymed Biosciences Inc. has spun off its autoimmune drug into a new company, Ouro Medicines, which is being sold to Gilead Sciences for up to $2.175 billion. Keymed will receive approximately $320 million from this deal, including upfront payments and milestone payments. This marks a significant achievement for Keymed, as it is the first complete NewCo cycle from a Chinese drugmaker. The drug, currently in clinical trials, targets autoimmune diseases and has received FDA Fast Track and Orphan Drug status. Keymed's revenues rose 67% in 2025, despite a slight increase in net loss.

benzinga_article

Gilead Sciences

A Healthy Return: Drug Spin-off Nets Keymed Up To $320M

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YOFC(06869) rose 14.34%, with a trading turnover 6.7 Billion HKD, and a year-to-date rose 281%. KNOWLEDGE ATLAS(02513) rose 9.81%, with a trading turnover 1.3 Billion HKD, and a year-to-date rose 531.2%. MONTAGE TECH(06809) fell 6.88%, with a trading turnover 230.6 Million HKD, and a year-to-date rose 54.5%. MUYUAN(02714) fell 6.04%, with a trading turnover 289.6 Million HKD, and a year-to-date fell 0.3%.

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Top 5 HK Stock Gainers/Losers (>100B) (3.30)

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On March 30, intraday sentiment in the Hong Kong stock market was weak, with the three major indices collectively pulling back. The Hang Seng TECH Index fell by 2.90%. The internet, retail, and jewelry sectors led the market decline, with Tencent Holdings and Alibaba both dropping over 3%, and MEITU plunging over 8%. Despite the market pressure, CHALIECO rose nearly 20% against the trend. Market turnover was concentrated in technology heavyweight stocks, reflecting that funds remained active in trading amidst the adjustment

- As of March 30, Hong Kong stocks faced pressure, with major indices retreating amidst weak market sentiment.  
- The Hang Seng Index fell by 1.92% to 24,473.42, while the Hang Seng Tech Index dropped 2.90%, indicating a lack of upward momentum.  
- Investors are closely monitoring export and retail data, with macroeconomic pressures impacting market revaluation based on economic recovery pace and policy signals.

Market Pulse

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Hang Seng TECH Index

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Hong Kong Stocks Intraday | Hong Kong Stocks Slide Intraday; Tech Index Drops 2.90%, CHALIECO Rises Against the Trend

The Hang Seng Index opened higher, refreshing its nearly four-year high; Tencent's performance exceeded expectations, receiving collective bullish calls from major banks; Chip stocks strengthened on the logic of domestic substitution, with SMIC leading the gains; Ping An's stake increase in China Taiping H-shares ignited the insurance sector; Cryptocurrency concept stocks surged as Bitcoin hit a new high; In the pharmaceutical sector, Jingtai Holdings reported its first profit, rising over 11%, while East Buy saw a sudden 12% increase.

Tencent

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Tencent HK SDR 10to1

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Ping An Insurance

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Ping An Ins HK SDR2to1

Ping An

Hot Trades in Hong Kong Stocks (8.14) | Hang Seng Index Hits Four-Year High at Opening, Morgan Stanley Says Foreign Capital Accelerated Inflows into Chinese Stock Market in July

JPAKESO@EC2610B(28598.HK)

Ivonescimab Receives Major Recommendations Across Multiple Therapies in the 2026 CSCO NSCLC Guideline

BofAS: Akeso Cadonilimab Records MoM Growth Against Seasonality

Top 10 HK Stock Losers (4.23)

Top 5 HK Stock Gainers/Losers (>100B) (4.23)

Hong Kong stock movement: AKESO fell 11.52%, with increased uncertainty in clinical data and strong market wait-and-see sentiment