ALEBUND-B (09637) shares climbed more than 6% in Monday's session, trading up 6.02% at HK$28.52 as of the time of writing. The stock recorded a turnover of HK$6.452 million with a volume ratio of 2.26 and an amplitude of 7.06%. The company's shares were officially added to the Hong Kong Stock Connect program and the Hang Seng Composite Index effective September 7th (Monday), which triggered active trading on its first day of eligibility.
According to a voluntary announcement from the company, its H-shares have been included in the list of eligible securities for Stock Connect, effective from September 7, 2026. This inclusion follows the H-share addition to the Hang Seng Composite Index, which was announced during the Hang Seng Indexes Company's quarterly index review results on August 21. The corresponding changes were implemented after the market close on September 4 and became effective on September 7. The Shenzhen Stock Exchange also confirmed in a separate announcement on September 7 that ALEBUND-B has been added to the eligible securities list for Stock Connect.
The board believes that this strategic milestone reflects the capital market's recognition of the company's inherent value and long-term growth prospects. It is expected to broaden the investor base and enhance the trading liquidity of its H-shares. As the first 18A innovative drug developer in Hong Kong focused exclusively on the kidney disease segment, the recent inclusion brings ALEBUND-B within the investable universe for southbound capital flows, which is likely to improve both liquidity and valuation benchmarks over time.
ALEBUND-B released its inaugural interim results since listing on August 26. For the first half of 2026, the company generated revenue of RMB 104.2 million, representing a substantial year-on-year increase of 761.2%, primarily driven by sales of Mircera and licensing income from AP306. The net loss attributable to the company narrowed to RMB 162.6 million, a 22.5% improvement compared to the same period in 2025. Its sole commercialized product, Mircera, achieved sales revenue of RMB 24.8 million during the period, up approximately 105% year-on-year, with hospital coverage exceeding 300 facilities. The gross margin for this product also improved to 47.3%, up from 43.4% in the first half of 2025.
A research note from Huatai Securities highlighted that the company had previously entered into an exclusive commercialization partnership with Roche for Mircera, which remains the only product ALEBUND-B has brought to market so far. The brokerage projects that Mircera could potentially reach peak annual sales of approximately RMB 1 billion in China by 2034. Additionally, the new drug application (NDA) for the company's core asset, AP301, was accepted by the National Medical Products Administration in August, and enrollment for the global Phase III RESPOND-2 trial has also been completed, marking continued progress across its pipeline.