Changes in Hong Kong stocks | Innovative drug concept stocks fell sharply across the board, biotech companies ushered in a wave of allotments. Institutions say the first phase of valuation repair has been largely completed

The Zhitong Finance App learned that innovative drug concept stocks fell sharply across the board. As of press release, Conoa-B (02162) fell 6.78% to HK$47.4; Boan Biotech (06955) fell 6.23% to HK$14.14; Zhongsheng Pharmaceutical (01177) fell 4.39% to HK$5.44; and CSP Pharmaceuticals (01093) fell 3.76% to HK$8.71.

According to the news, Hong Kong stock biotech companies have recently ushered in a wave of allotments. Connoya's discounted share placement raised HK$850 million; Junshi Biotech raised more than HK$1 billion at a 10% discount; Rongchang Biotech announced the completion of the allotment at the end of last month to net raise HK$800 million; and Boan Biotech's discounted price of nearly 14% raised over HK$300 million.

Lyon released a research report saying that the innovative drug sector rebounded significantly in the first half of this year, mainly driven by a strong recovery in market liquidity and a series of unanticipated authorized exchanges. It is estimated that continued trading activity and steady corporate financial performance in the second half of the year will all become the focus of market attention. The bank believes that the first phase of the biotech company's valuation repair has been largely completed. The bank pointed out that after three years of adjustments, the pharmaceutical industry is entering a new product cycle. Coupled with favorable policies, it is expected that the liquidity and fundamentals of this sector will continue to improve in the future.