The lifting of the ban is entering a one-month countdown. Can HANXBIO-B (03378) hold the cornerstone of profit and loss?

After 4 trading days of listing, the lowest stock price of HANXBIO-B (03378) fell by nearly 60% from the issue price. However, the company's stock price has risen significantly within six months. With the impending unlock of restricted shares for cornerstone investors, whether this company can maintain the profit and loss line for these investors will be the focus of attention for market participants. Data shows that HANXBIO-B will welcome the unlock of restricted shares for cornerstone investors on June 23 this year. This unlock involves a total of 7 cornerstone investors holding a total of 2.9178 million shares, accounting for 15.93% of the global offering. Compared to the situation of a large drop in stock price a month after listing, HANXBIO-B faces a more complex situation within the market now. Previously, cornerstone investors may have been passively locked in due to deep losses, but now that the company's stock price has risen to near the issue price, cornerstone investors have more options. When the unlock date arrives in over a month's time, once cornerstone investors choose to "cut their losses," about 20% of the chips will be released into a market with limited liquidity, and the huge selling pressure may once again put pressure on HANXBIO-B's stock price to decline. Returning to the issue price after more than 3 months Looking back at HANXBIO-B's process from IPO to listing, the company introduced a total of 7 cornerstone investors, including Fude Resources and Sage Partners Master Fund, with a total investment of HK$93.37 million, subscribing to a total of 2.9178 million shares, accounting for 15.93% of the global offering. From the proportion of cornerstone allo...