Likun International (01355.HK) Acquisition of Synthetic Biology Enterprise Triggers Speculation and Risk Analysis

Likun International (01355.HK) made it to the East Money App Hong Kong Stock Surge List at 16:30 (UTC+8) on December 22, 2025 [0]. The next day (December 23), it issued an official announcement: it intends to acquire a 37.5% indirect stake in Biosysen, a synthetic biology infrastructure provider, for HK$22 million, and plans to change its English name to “Biosysen Limited” and Chinese name to “生物系统工程有限公司” to transform into synthetic biology business [1][2][3]. Regarding stock price: on December 22, it rebounded sharply intraday; on December 23, it opened at HK$0.112, with a range of HK$0.100-0.122, and a trading volume of 980,000 shares (higher than the average of 608,000 shares) [4]. Fundamental data shows that the company had a net loss of HK$6.742 million in Q2 2025, a net profit margin of -52.99%, and was insolvent (total equity of -HK$83.101 million) [4].

1. Signs of information leakage or pre-announcement speculation
   : The hot list appeared one day earlier than the official announcement, suggesting that there was early information leakage or strong expectations in the market, possibly involving short-term speculative fund activities.
2. Sector popularity drives sentiment
   : Despite the company’s poor fundamentals, its transformation plan still attracted investor attention due to synthetic biology being a popular sector, reflecting the market’s preference for emerging industries.
3. Multiple uncertainties in transformation
   : The acquisition is a conditional transaction, with the risk of not being completed; the company’s financial difficulties may affect subsequent business advancement.

• Opportunities
  : Entering the high-growth synthetic biology sector through acquisition is expected to enhance market attention with the help of sector popularity.
• Risks
  :

1. Financial risk
   : The company continues to lose money and is insolvent, with a fragile financial situation [4].
2. Acquisition risk
   : The transaction has not been finally completed, and there is a possibility of execution failure [1][2][3].
3. Speculative risk
   : The stock price surge may be driven by short-term speculation, lacking fundamental support, and may experience significant fluctuations subsequently [0].
4. Regulatory risk
   : Abnormal stock price fluctuations before the announcement may trigger investigations by regulatory authorities [0].

Likun International (01355.HK) triggered market speculation due to its intention to acquire a synthetic biology enterprise and transform. Appearing on the hot list one day before the announcement indicates suspicion of speculation or information leakage. The company has fundamental losses and is insolvent. Although the sector has broad prospects, the acquisition and transformation still face multiple risks, and investors need to carefully evaluate the relevant uncertainties.