NIO's performance exceeded expectations, rising more than 13% against the market trend
On September 9th, the three major indices of Hong Kong stocks fell throughout the day, with midday declines exceeding 2% at one point, and a slight rebound at the end of the day, ultimately leading to a collective decline. As of the close, the Hang Seng Index closed down 1.42% at 17196.96 points; The Hang Seng State Owned Enterprises Index closed down 1.68%, and the Hang Seng Technology Index closed down 1.46%.
On the market, the stock of Scinet weakened, JD fell nearly 3%, Alibaba and Kwai fell nearly 2%, NetEase fell more than 1.5%, and Tencent Holdings fell 0.59%; Most oil stocks fell, with "three barrels of oil" collectively closing lower. China Petroleum Corporation fell more than 6%, China Petrochemical Corporation fell 5.59%, and China National Offshore Oil Corporation fell nearly 4%; Domestic housing stocks collectively fell, with Midea Real Estate plummeting nearly 18%; Shipping and port stocks generally fell, with COSCO Shipping falling more than 7%; Coal stocks fell, with Mongolian coking coal dropping by over 11%, South Gobi dropping by over 5%, and China Shenhua falling by over 4%.
On the other hand, most biopharmaceutical stocks rose, with Kangfang Biotechnology up 15.77%, WuXi AppTec up 4.61%, and WuXi AppTec up nearly 4%.
Excellent performance
New energy vehicle giant 'surges by over 13%
On September 9th, the Hong Kong stock NIO SW surged over 13%, closing at HKD 38.55 per share, with a latest total market value of HKD 80.586 billion.
On the news front, according to NIO's release of its Q2 2024 financial report, its revenue reached a historic high of 17.45 billion yuan, compared to 8.77 billion yuan in the same period last year, an increase of 99%, and the market expectation was 17.38 billion yuan; The adjusted operating loss was RMB 4.7 billion, a year-on-year decrease of 14%, and the market expected loss was RMB 4.86 billion; The net loss was 5.046 billion yuan, a year-on-year decrease of 16.7%.
In addition, for the third quarter, NIO expects delivery volume to be between 61000-63000 vehicles, a year-on-year increase of 10% -13.7%, with a market expectation of 56770 vehicles; The total revenue will be between 19.109 billion and 19.669 billion yuan, a year-on-year increase of 0.2% to 3.2%. Both guidelines have reached historic highs.
Kangfang Biotechnology is strong all day long
Soaring nearly 16%
On September 9th, Kangfang Biotechnology remained strong throughout the day. As of the close, it rose 15.77% to HKD 55.8, with a latest total market value of HKD 48.315 billion.
On the news front, Kangfang Biotechnology announced the positive data of a registered phase III AK112-303 (HARMONI-2) study on the first-line treatment of locally advanced or metastatic non-small cell lung cancer (NSCLC) with PD-L1 expression positive (PD-L1 TPS ≥ 1%) using Ivoxidan anti - and pembrolizumab (K-drug) monotherapy at the 2024 World Lung Cancer Congress.
Zhongjin stated that AK112 is superior to Keytruda head to head and has the potential to become the cornerstone drug for the next generation of IO treatment.