CRO concept stocks picked up collectively. As of press release, Fangstar Holdings (01521) rose 7.89% to HK$1.64; Kingsley Biotech (01548) rose 7.65% to HK$15.48; Kanglong Chemical (03759) rose 5.26% to HK$10.2; and Pharmaceuticals Kangde (02359) rose 3.74% to HK$48.55.
The Zhitong Finance App learned that CRO concept stocks have collectively picked up. As of press release, Fangda Holdings (01521) rose 7.89% to HK$1.64; Kingsley Biotech (01548) rose 7.65% to HK$15.48; Kanglong Chemical (03759) rose 5.26% to HK$10.2; Pharmacom Kangde (02359) rose 3.74% to HK$48.55.
According to the news, on the evening of March 8, Yao Ming Kangde announced a 1 billion yuan share repurchase plan, demonstrating management's confidence in the company's value. This is another major repurchase after Yakming Kangde announced a 1 billion yuan A-share repurchase in early February. Damo believes that the company's continuous stock repurchases show a firm will to protect shareholders' interests in a volatile market, and reflect management's belief that the company's shares are undervalued.
Furthermore, the government work report stated in the “Actively Cultivating Emerging Industries and Future Industries” section: consolidate and expand leading advantages in industries such as intelligent connected new energy vehicles, accelerate the development of cutting-edge industries such as hydrogen energy, new materials, and innovative pharmaceuticals, and actively build new growth engines such as biomantry, commercial aerospace, and the low-altitude economy. It is worth noting that this is the term “innovative drug”. It is the first time it has entered the government work report, and it may push more local pharmaceutical companies to invest more and innovate.