HK Stock Market Move | SCIENTECH (02291) rose more than 28% at one point, but resumed trading yesterday with a drop of over 14%. The controlling shareholder has uncertain sales growth targets.

SCIENTECH (02291) once surged over 28%, but yesterday it resumed trading and fell over 14%. Earlier on April 22, the stock had a sudden surge of over 100%, but then prices fell back and trading was suspended, with the increase still reaching 47.19% by the time of suspension. As of the report, it has risen 13.61%, closing at HK$22.95 with a turnover of HK$1.26 billion. In recent news, a record of investor relations activity released by SCIENTECH's controlling shareholder Lepu Medical Technology mentioned that the sales growth target for its heart closure products this year is expected to be around 30%, and the sales target for its transcatheter aortic valve replacement products is about RMB 200 million, but the uncertainty of achieving these targets exists. SCIENTECH's recent announcement also pointed out that the realization of these targets is uncertain and depends on market conditions. Financial report data shows that in 2024, SCIENTECH achieved total operating income of 4.72 billion yuan, a year-on-year increase of 44.4%; net profit attributable to the parent company was 2.46 billion yuan, a year-on-year increase of 62.22%. According to the official website, SCIENTECH is committed to providing safe, effective, and innovative medical solutions, and is a leading player in China's structural heart disease intervention medical device industry, as well as a large supplier of congenital heart closure devices in China.