Analysis of Likun International (01355.HK)'s Biotech Transformation Drawing Market Attention

Likun International (01355.HK) became the focus of market attention on December 25, 2025, as it entered the East Money App Hong Kong Stock Surge List [1]. The company’s core catalysts are two biotech transformation initiatives announced on December 23: first, acquiring a 37.5% stake in synthetic biology enterprise Beisheng Biology for HK$22 million [2][3][4]; second, planning to rename the company to “Biosystems Engineering Limited” to align with the new business direction [4][5].

As December 25 was a Christmas holiday in Hong Kong and the stock market was closed, the latest trading data is the closing price of HK$0.120 on December 24 [0], with a total market capitalization of approximately HK$143 million. In terms of price, the 52-week range is HK$0.064-HK$0.238, and it has recently oscillated narrowly around HK$0.120; trading volume is extremely low—only 40,000 shares on December 24, with a turnover rate of 0.00% [0], indicating insufficient liquidity.

In terms of market sentiment, individual investors’ attention has increased due to the transformation theme, but institutional participation is limited. The company previously engaged in hotel operation business and has sustained losses; its transformation into the synthetic biology track (a current market hot area) has strong speculative attributes [0].

1. Transformation Theme Drives Short-Term Attention
   : The company’s shift from traditional hotel business to the popular biotech field aligns with the market’s preference for high-growth emerging industries, which is the core reason for becoming a short-term hot spot.
2. Low Liquidity Exacerbates Price Volatility Risk
   : The average daily trading volume is less than 100,000 shares, with a volume ratio of only 0.10. Extremely low liquidity makes the stock price vulnerable to small transactions, and investors face the risk of difficulty in trading or large price fluctuations [0].
3. Contradiction Between Fundamentals and Theme Speculation
   : The company reported a mid-term loss of HK$13.484 million in 2025, with a price-to-book ratio of -31.82 (poor balance sheet condition). The acquisition target Beisheng Biology also lost HK$7.6 million in the first 11 months of 2025 [0][4]. The profit outlook of the transformation is unclear, and market attention is more derived from theme speculation rather than fundamental improvement.

• Transformation Uncertainty
  : The company lacks biotech operation experience, the acquisition target has poor financial performance, and the probability of successful transformation is unknown; the acquisition and renaming plan needs shareholder approval, which has variables [4].
• Liquidity Risk
  : Extremely low trading volume makes the price easy to manipulate, and investors may face the risk of difficulty in trading or large price fluctuations [0].
• Weak Fundamentals
  : Sustained losses, negative price-to-book ratio, and poor balance sheet condition [0].
• Information Risk
  : Limited disclosure of transformation details, lack of specific business plans and profit expectations [0].

• Potential of Synthetic Biology Track
  : As an emerging industry, synthetic biology has high growth potential. If the transformation is successful, the company is expected to benefit from industry development.

Likun International (01355.HK) has become a popular Hong Kong stock due to its biotech transformation plan, with transformation measures including acquiring a stake in Beisheng Biology and changing the company name. The latest stock price is HK$0.120 (as of December 24, 2025), with a total market capitalization of HK$143 million and extremely low liquidity. The company has weak fundamentals and multiple uncertainties in transformation, but the market has speculative attention on its prospects of entering the synthetic biology track. Investors need to carefully evaluate transformation risks, liquidity risks, and fundamental conditions.