← Beijing Sun Novo Pharmaceutical Research overview

Beijing Sun Novo Pharmaceutical Research vs Sichuan Kelun Pharmaceutical: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Beijing Sun Novo Pharmaceutical Research Co Ltd (688621.CG)

Q3 202614 Jul – 31 Aug 2026

▲2▼1

Sunshine Nuohe Swings to Loss as Pipeline Advances

H1 2026 swing to net loss Sunshine Nuohe reported a first-half 2026 net loss of 24.4 million yuan, versus a 130 million yuan profit a year earlier, as revenue fell 27.81% to 426 million yuan. The absence of large out-licensing deals and pressure on pharma revenue drove the swing, weighing on the stock.
The loss is the core financial result that directly pressures the share price.
STC009 injection wins clinical trial approval A subsidiary received regulatory clearance to begin human testing of STC009, a Class 1 innovative drug for secondary hyperparathyroidism. This milestone advances the pipeline and signals progress in the company's peptide drug platform, supporting future value.
Clinical approval is a concrete pipeline win that can lift investor sentiment.
STC007 out-licensed and pipeline builds The interim report highlighted that self-developed STC007 for pruritus completed an out-licensing deal, STC008 for cancer cachexia is in trials, and multiple peptide, small nucleic acid, and CAR-T programs entered clinical stage. R&D spending rose to 20.54% of revenue, supporting long-term growth.
Pipeline progress and out-licensing show the innovation strategy is delivering, a positive counterweight to the loss.
Controlling shareholder sells 5% stake Controlling shareholder Li Qian transferred 5% of the company to a fund at 41.56 yuan per share for 233 million yuan. Control is unchanged and the buyer locked up for 12 months, but the sale adds supply and may raise governance or confidence questions.
The stake sale is a capital event that can affect supply and sentiment, though its impact is ambiguous.

August 202614 Jul – 31 Aug 2026

▲2▼1

Sunshine Nuohe Swings to Loss as Pipeline Advances

H1 2026 swing to net loss Sunshine Nuohe reported a first-half 2026 net loss of 24.4 million yuan, versus a 130 million yuan profit a year earlier, as revenue fell 27.81% to 426 million yuan. The absence of large out-licensing deals and pressure on pharma revenue drove the swing, weighing on the stock.
The loss is the core financial result that directly pressures the share price.
STC009 injection wins clinical trial approval A subsidiary received regulatory clearance to begin human testing of STC009, a Class 1 innovative drug for secondary hyperparathyroidism. This milestone advances the pipeline and signals progress in the company's peptide drug platform, supporting future value.
Clinical approval is a concrete pipeline win that can lift investor sentiment.
STC007 out-licensed and pipeline builds The interim report highlighted that self-developed STC007 for pruritus completed an out-licensing deal, STC008 for cancer cachexia is in trials, and multiple peptide, small nucleic acid, and CAR-T programs entered clinical stage. R&D spending rose to 20.54% of revenue, supporting long-term growth.
Pipeline progress and out-licensing show the innovation strategy is delivering, a positive counterweight to the loss.
Controlling shareholder sells 5% stake Controlling shareholder Li Qian transferred 5% of the company to a fund at 41.56 yuan per share for 233 million yuan. Control is unchanged and the buyer locked up for 12 months, but the sale adds supply and may raise governance or confidence questions.
The stake sale is a capital event that can affect supply and sentiment, though its impact is ambiguous.

Latest14 Jul – 31 Aug 2026

▲2▼1

Sunshine Nuohe Swings to Loss as Pipeline Advances

H1 2026 swing to net loss Sunshine Nuohe reported a first-half 2026 net loss of 24.4 million yuan, versus a 130 million yuan profit a year earlier, as revenue fell 27.81% to 426 million yuan. The absence of large out-licensing deals and pressure on pharma revenue drove the swing, weighing on the stock.
The loss is the core financial result that directly pressures the share price.
STC009 injection wins clinical trial approval A subsidiary received regulatory clearance to begin human testing of STC009, a Class 1 innovative drug for secondary hyperparathyroidism. This milestone advances the pipeline and signals progress in the company's peptide drug platform, supporting future value.
Clinical approval is a concrete pipeline win that can lift investor sentiment.
STC007 out-licensed and pipeline builds The interim report highlighted that self-developed STC007 for pruritus completed an out-licensing deal, STC008 for cancer cachexia is in trials, and multiple peptide, small nucleic acid, and CAR-T programs entered clinical stage. R&D spending rose to 20.54% of revenue, supporting long-term growth.
Pipeline progress and out-licensing show the innovation strategy is delivering, a positive counterweight to the loss.
Controlling shareholder sells 5% stake Controlling shareholder Li Qian transferred 5% of the company to a fund at 41.56 yuan per share for 233 million yuan. Control is unchanged and the buyer locked up for 12 months, but the sale adds supply and may raise governance or confidence questions.
The stake sale is a capital event that can affect supply and sentiment, though its impact is ambiguous.

Sichuan Kelun Pharmaceutical Co Ltd (002422.CS)

Q3 202627 Jul – 8 Oct 2026

▲3▼1

Kelun's profit rises on drug wins and buybacks, but bribery claim and pledges weigh

New ADC drug enters clinical trials A Kelun subsidiary won Chinese approval to start human testing of SKB565, a new dual-payload ADC for advanced solid tumors. It is the first of its kind from Kelun Biotech, and success could add a valuable future growth engine, though it is years from sales.
Shows pipeline progress that can lift long-term growth expectations for the stock.
National procurement wins boost sales outlook Kelun and its units won tentative selection for more than ten products in China's 12th national bulk-buy drug round, including heart and cancer medicines. Winning means guaranteed hospital sales volumes, supporting revenue even if prices are lower.
Directly increases expected product demand and market share, a core earnings driver.
Profit grows and dividend plus buyback support stock First-half net profit rose 12.7% to 1.128 billion yuan, with second-quarter profit up 48% from the prior quarter, despite slightly lower revenue. The company also plans a cash dividend and has been buying back shares, signaling confidence and returning cash to holders.
Earnings growth and shareholder returns are the main fundamental supports for the share price.
Bribery claim and owner pledges create risk A whistleblower letter alleged commercial bribery tied to a key Kelun drug; the subsidiary denies it and threatens legal action. Separately, controlling shareholder Liu Gexin added to pledged shares for personal funding. Both raise uncertainty and could pressure the stock if they worsen.
These are the main counterweights that could hurt sentiment and valuation.

September 202627 Jul – 8 Oct 2026

▲3▼1

Kelun's profit rises on drug wins and buybacks, but bribery claim and pledges weigh

New ADC drug enters clinical trials A Kelun subsidiary won Chinese approval to start human testing of SKB565, a new dual-payload ADC for advanced solid tumors. It is the first of its kind from Kelun Biotech, and success could add a valuable future growth engine, though it is years from sales.
Shows pipeline progress that can lift long-term growth expectations for the stock.
National procurement wins boost sales outlook Kelun and its units won tentative selection for more than ten products in China's 12th national bulk-buy drug round, including heart and cancer medicines. Winning means guaranteed hospital sales volumes, supporting revenue even if prices are lower.
Directly increases expected product demand and market share, a core earnings driver.
Profit grows and dividend plus buyback support stock First-half net profit rose 12.7% to 1.128 billion yuan, with second-quarter profit up 48% from the prior quarter, despite slightly lower revenue. The company also plans a cash dividend and has been buying back shares, signaling confidence and returning cash to holders.
Earnings growth and shareholder returns are the main fundamental supports for the share price.
Bribery claim and owner pledges create risk A whistleblower letter alleged commercial bribery tied to a key Kelun drug; the subsidiary denies it and threatens legal action. Separately, controlling shareholder Liu Gexin added to pledged shares for personal funding. Both raise uncertainty and could pressure the stock if they worsen.
These are the main counterweights that could hurt sentiment and valuation.

Latest27 Jul – 8 Oct 2026

▲3▼1

Kelun's profit rises on drug wins and buybacks, but bribery claim and pledges weigh

New ADC drug enters clinical trials A Kelun subsidiary won Chinese approval to start human testing of SKB565, a new dual-payload ADC for advanced solid tumors. It is the first of its kind from Kelun Biotech, and success could add a valuable future growth engine, though it is years from sales.
Shows pipeline progress that can lift long-term growth expectations for the stock.
National procurement wins boost sales outlook Kelun and its units won tentative selection for more than ten products in China's 12th national bulk-buy drug round, including heart and cancer medicines. Winning means guaranteed hospital sales volumes, supporting revenue even if prices are lower.
Directly increases expected product demand and market share, a core earnings driver.
Profit grows and dividend plus buyback support stock First-half net profit rose 12.7% to 1.128 billion yuan, with second-quarter profit up 48% from the prior quarter, despite slightly lower revenue. The company also plans a cash dividend and has been buying back shares, signaling confidence and returning cash to holders.
Earnings growth and shareholder returns are the main fundamental supports for the share price.
Bribery claim and owner pledges create risk A whistleblower letter alleged commercial bribery tied to a key Kelun drug; the subsidiary denies it and threatens legal action. Separately, controlling shareholder Liu Gexin added to pledged shares for personal funding. Both raise uncertainty and could pressure the stock if they worsen.
These are the main counterweights that could hurt sentiment and valuation.