CANBRIDGE-B (01228) surged over 9%, with the stock posting massive gains this year, accumulating a 16-fold increase year-to-date. As of press time, the stock was up 8.6% to HK$2.4, with trading volume of HK$16.13 million.

On the news front, CANBRIDGE recorded revenue of 22.248 million yuan in the first half of this year, down 50.33% year-over-year. However, the company achieved a profit of 59.238 million yuan during the period, compared to a loss of 247 million yuan in the same period last year, marking a turnaround to profitability.

The company announced that the revenue decline was primarily due to its strategic focus on rare diseases planned since 2021, and the cessation of sales in Taiwan following the termination of the distribution agreement at the end of 2024. Excluding sales in Taiwan, the company's revenue decreased by 1.7 million yuan or 6.9% compared to the same period in 2024, mainly due to CANBRIDGE implementing aggressive inventory management in the first half of 2025 and reducing channel inventory.

In August this year, CANBRIDGE announced a share subscription agreement with Peking Bio, under which Peking Bio will invest HK$100 million to subscribe for CANBRIDGE shares. Simultaneously, both parties signed an exclusive commercialization service agreement to further deepen their strategic collaboration. Under the agreement, Peking Bio's subsidiary will obtain promotion rights for specific CANBRIDGE products in mainland China, Hong Kong, and Macau.

Additionally, in the preliminary review list for the commercial insurance innovative drug directory published by the National Healthcare Security Administration on August 12, three of CANBRIDGE's rare disease products passed the formal review for the commercial insurance innovative drug directory, including Goladimine (Velaglucerase beta for injection), a long-term enzyme replacement therapy approved for market in May this year for patients aged 12 and above with Type I and Type III Gaucher disease.