Futu News on October 9th, this Friday.Genting Xinyao-B (01952.HK) $On the first day, it opened 28.27% higher at HK $70.55, with a pre-market turnover of HK $1.083 billion.

In Futu's dark trading on Thursday, Genting Xinyao opened 40 per cent higher to close at HK $71.50, up 30 per cent from its share price and earning HK $8250 per share.

It is worth noting that the Genting Xinyao IPO rich way dark market turnover reached 278 million Hong Kong dollars, Chaoyue Jiahe biology became the fourth highest trading volume of new shares after NONGFU SPRING CO., LTD., Smoore International Holdings Limited and Ming Yuan Cloud Group, these new shares after the listing, whether the first day of performance or cumulative performance are very outstanding.

It is reported that Genting Xinyao is a late-clinical biopharmaceutical company, whose business includes the permission, clinical development and commercialization of the first or best therapy of its kind in the world. the current product portfolio covers oncology, immunology, heart and kidney diseases and infectious diseases. The company operates in an imported licensing business model, and all eight drug candidates in its product pipeline (including two core drug candidates) and their related patents have been licensed from third parties.

It is worth noting that the company is favored by the world's top institutional investors, including Cambridge Capital, Temasek, Hillhouse Capital, Junli Henderson, Blackrock and so on. Cambridge Capital (CBC), one of Asia's largest health care specialist investment platforms, has a 62.4 per cent stake.

In terms of financial data, the company did not generate any income during the track record period, and the net operating loss increased from RMB 127 million in 2018 to RMB 176 million in 2019. According to the prospectus, the company is expected to continue to incur net losses in the foreseeable future until one of the existing or future drug candidates is approved and commercialized.