Changes in Hong Kong stocks | Yao Ming Kangde (02359) is over 6%, and the US Department of Defense removed it from the list of Chinese military enterprises under 1260H

The Zhitong Finance App learned that Yao Ming Kangde (02359) opened more than 6%. As of press release, it had risen 6.06% to HK$210, with a turnover of HK$294.65 million.

According to the news, on the morning of November 10, Yao Ming Kangde issued an announcement stating that on November 9, the company learned that the Ministry of National Defense decided to remove Yao Ming Kangde from the CMC list under 1260H. The Deputy Minister of Defense determined that the court's order approving the company's preliminary injunction motion should be removed from the Ministry of Defense's updated 1260H list. This decision shields the company from further adverse effects of this determination. The company will continue to be committed to serving customers and empowering them to develop medicines that save and improve lives for patients.

According to reports, the “1260H List” refers to a list required by the Department of Defense to be published every year by section 1260H of the US FY2021 “Defense Authorization Act”, which includes entities identified as operating in the US and related to the Chinese military or “civil-military integration.” Citi said that the US decision to remove Pharmaceutical Kangde from the 1260H list is a significant benefit for the stock and may boost market sentiment across the Chinese executive segment.