Giant Biogene (02367.HK) Hong Kong Stock Market Hot Stock Analysis Report

Giant Biogene (02367.HK) is a hot stock in the Hong Kong stock market’s medical aesthetics/skincare sector. Its popularity stems from the intertwined impact of recent negative rating adjustments and positive share repurchase plans. On December 24, 2025, China Merchants Securities (Hong Kong) downgraded its rating to “Neutral”, pointing out issues such as the company facing a reputation crisis, declining Double 11 sales of its core brand “Kefumei”, and lack of rebound catalysts in 2026 [2][3][6]. The large-scale share repurchase plan announced on December 2, 2025 (intending to repurchase no more than 10% of issued shares, approximately 104 million shares) conveys management’s confidence in the undervaluation of the stock price [4][5]. In terms of price, the company’s stock price has dropped by over 58.7% from its peak in May 2025 (HK$85.14), recently approaching its 52-week low of HK$34.04, with a market capitalization of approximately HK$37.18 billion [0][1]. Trading volume is only 34% of the 3-month average, indicating light market trading [1].

1. Intertwined Contradictory Catalysts
   : The negative rating downgrade and large-scale repurchase plan form a stark contrast, reflecting market divergence on the company’s short-term challenges and long-term value. The company still maintained steady growth in the first half of 2025 (revenue of RMB 3.113 billion, +22.52% YoY; net profit of RMB 1.182 billion, +20.23% YoY) [4], indicating no fundamental deterioration in fundamentals, but uncertainty remains regarding brand recovery and sales revival.
2. Clear Technical Support and Resistance
   : The 52-week low of HK$34.04 is a key support level; if broken, it may decline further. The recent high of HK$35.14 and medium-term resistance of HK$40 are important resistance levels, and breakthroughs will reflect changes in market sentiment.
3. Correlation Between Market Cap Fluctuations and Attention
   : The sharp pullback in stock price to near the 52-week low, combined with the announcement of the large-scale repurchase plan, has jointly driven investor attention to this stock.

• Risks
  : The core brand’s reputation crisis and declining sales may affect short-term performance [2][3][6]; lack of obvious rebound catalysts in 2026, and market sentiment fluctuations may amplify stock price volatility.
• Opportunities
  : The large-scale repurchase plan and management’s confidence statement, as well as the previous share increase actions by major shareholders (accumulated increase of 3.6666 million shares, costing HK$178 million), may provide support for the stock price; if brand recovery and sales revival exceed expectations, the company may regain growth momentum.

Giant Biogene (02367.HK) is currently under the intertwined influence of negative ratings and positive repurchase plans, with its stock price approaching the 52-week low. The company has solid fundamentals but faces short-term brand and sales challenges. Investors need to focus on whether the support level of HK$34.04 can be maintained, as well as the progress of the company’s brand recovery and sales revival.

[0] Jinling Analysis Database | [1] Investing.com | [2] Investing.com | [3] Sina Finance | [4] Securities Market Weekly | [5] NetEase Finance | [6] Sohu Finance