HK Stock Market Move | XTALPI (02228) rose more than 8% in early trading. The Stock Exchange approved the company as a commercialized company. The company recently reached a cooperation agreement with the South Korean pharmaceutical company JW.

XTALPI (02228) rose more than 8% in early trading, up 2.54% at the time of publication to HKD 4.44, with a turnover of HKD 269 million. On the news front, XTALPI-P previously announced that the company has been approved by the Hong Kong Stock Exchange to no longer be considered as a pre-commercialized company, but rather as a commercialized company. After approval, the English and Chinese stock abbreviations of XTALPI will no longer have the "P" mark printed, effective from 9:00 am on April 9, 2025. It is reported that the company's operating income for the fiscal year 2024 was RMB 266 million, exceeding the income threshold of HKD 250 million for "commercialized companies" in Chapter 18 of the listing rules. In addition, the US FDA announced that it will gradually abandon animal testing routes in many drug areas such as monoclonal antibodies, and instead pursue "more effective human-relevant research methods." AI pharmaceuticals have attracted market attention. XTALPI Technology had previously signed a strategic cooperation agreement worth tens of millions of RMB with leading South Korean pharmaceutical company JW Pharmaceutical. XTALPI Technology will provide JW with a drug discovery automation workstation and an AI-based chemical reaction optimization platform. This collaboration marks the first time XTALPI Technology's automated laboratory solutions have been purchased by an overseas pharmaceutical company, marking an important milestone.