Bai Ben Healthcare (02293.HK) Analysis of Being on the Hong Kong Stock Exchange Hot List

Bai Ben Healthcare (02293.HK) made it to the Hong Kong Stock Exchange Surge List on the East Money App on December 23, 2025 (Source: Tushare dc_hot). As of December 24, its stock price was HK$0.50 with a market capitalization of HK$200 million [0]. The company’s core business is providing healthcare staffing solutions and private care services in Hong Kong [1]. Although its total operating revenue decreased by 21.5% in FY2025 and net profit fell by 43.3% year-on-year to HK$17.541 million [2], its high dividend yield of 7.84% still attracted the attention of some investors. On December 23, Hong Kong-listed pharmaceutical stocks generally fell [3], but the sub-sector where Bai Ben Healthcare operates was not significantly dragged down, showing a certain degree of independence.

1. Fundamentals and Market Performance Diverge
   : Against the backdrop of declining revenue and net profit, high dividends have become the main attraction, reflecting the current market demand for stable returns.
2. Contradiction Between Low Liquidity and Retail Attention
   : Over the past 17 trading days (Dec 1 to Dec 23, 2025), the stock price fluctuated between HK$0.49 and HK$0.53 with a change rate of 0%. The trading volume on December 23 was only 4,000 shares, far lower than the 3-month average of 41,186 shares [0]. The hot list performance may mainly stem from short-term interest from retail investors.
3. Sector Differentiation Characteristics
   : Although the Hong Kong-listed pharmaceutical sector fell overall, the healthcare staffing solutions sub-sector performed independently, showing structural differences within the industry.

• Risks
  : Sustained performance decline [2], high price fluctuation risk due to low liquidity, overall sector pressure [3], and lack of clear short-term catalysts.
• Opportunities
  : The high dividend yield of 7.84% has certain attractiveness in the current market environment.

Bai Ben Healthcare (02293.HK) made it to the hot list due to retail investors’ attention driven by its high dividend yield, but its fundamentals are under pressure and liquidity is insufficient. The current price support level is HK$0.49 (52-week low), and the resistance level is HK$0.53 (recent high) [0].

Risk Warning: This report is for information analysis and does not constitute investment advice. Investors should make prudent decisions based on their own circumstances.