← Sichuan Kelun-Biotech overview

Sichuan Kelun-Biotech vs China Resources Double-Crane Pharmaceutical: why the prices moved differently

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

Sichuan Kelun-Biotech (6990.HK)

Q3 2026
▲4▼1

Kelun-Biotech's pipeline and sales advance, but bribery probe clouds the story

  • Lung-cancer combo succeeds in Phase III The sac-TMT plus pembrolizumab combo met its main goal in first-line PD-L1-negative non-squamous lung cancer — the first ADC-plus-immunotherapy Phase III win in this group. Success lifts hopes for a big new use of its flagship drug, supporting the stock.

    A major clinical win for the core drug is a key force behind the shares.

  • New dual-payload ADC enters clinic China's drug regulator cleared SKB565, the company's first dual-payload ADC, for human testing in advanced solid tumors. It is early-stage, but shows the pipeline keeps producing new candidates, which supports long-term growth expectations.

    Pipeline progress is a core driver of biotech valuation.

  • Bribery allegations create legal and reputational risk A whistleblower letter alleges commercial bribery tied to the company's flagship drug sac-TMT, naming hospitals in Beijing. Kelun-Biotech denies it and threatens legal action. If proven, fines or sales restrictions could hurt; even unproven, it dents trust.

    This is the main counterweight and a real risk to the stock.

  • Interim sales jump 112%, cash raised First-half product sales rose 112% to RMB 657 million, helped by insurance coverage for three sac-TMT uses and a new breast-cancer approval. The company also raised HK$2.72 billion in a share placing and dropped its 'B' marker, easing funding worries.

    Strong commercial execution and fresh capital directly support the shares.

  • Partner's asthma drug moves to Phase III Partner Windward Bio reported positive Phase 2 asthma results for SKB378/WIN378, showing lasting lung-function gains with twice-yearly dosing, and started Phase 3. Success could bring milestone payments and royalties, adding a new growth path beyond cancer.

    Partner validation of another pipeline asset is a fresh positive catalyst.

August 2026
▲4▼1

Kelun-Biotech's pipeline and sales advance, but bribery probe clouds the story

  • Lung-cancer combo succeeds in Phase III The sac-TMT plus pembrolizumab combo met its main goal in first-line PD-L1-negative non-squamous lung cancer — the first ADC-plus-immunotherapy Phase III win in this group. Success lifts hopes for a big new use of its flagship drug, supporting the stock.

    A major clinical win for the core drug is a key force behind the shares.

  • New dual-payload ADC enters clinic China's drug regulator cleared SKB565, the company's first dual-payload ADC, for human testing in advanced solid tumors. It is early-stage, but shows the pipeline keeps producing new candidates, which supports long-term growth expectations.

    Pipeline progress is a core driver of biotech valuation.

  • Bribery allegations create legal and reputational risk A whistleblower letter alleges commercial bribery tied to the company's flagship drug sac-TMT, naming hospitals in Beijing. Kelun-Biotech denies it and threatens legal action. If proven, fines or sales restrictions could hurt; even unproven, it dents trust.

    This is the main counterweight and a real risk to the stock.

  • Interim sales jump 112%, cash raised First-half product sales rose 112% to RMB 657 million, helped by insurance coverage for three sac-TMT uses and a new breast-cancer approval. The company also raised HK$2.72 billion in a share placing and dropped its 'B' marker, easing funding worries.

    Strong commercial execution and fresh capital directly support the shares.

  • Partner's asthma drug moves to Phase III Partner Windward Bio reported positive Phase 2 asthma results for SKB378/WIN378, showing lasting lung-function gains with twice-yearly dosing, and started Phase 3. Success could bring milestone payments and royalties, adding a new growth path beyond cancer.

    Partner validation of another pipeline asset is a fresh positive catalyst.

Latest
▲4▼1

Kelun-Biotech's pipeline and sales advance, but bribery probe clouds the story

  • Lung-cancer combo succeeds in Phase III The sac-TMT plus pembrolizumab combo met its main goal in first-line PD-L1-negative non-squamous lung cancer — the first ADC-plus-immunotherapy Phase III win in this group. Success lifts hopes for a big new use of its flagship drug, supporting the stock.

    A major clinical win for the core drug is a key force behind the shares.

  • New dual-payload ADC enters clinic China's drug regulator cleared SKB565, the company's first dual-payload ADC, for human testing in advanced solid tumors. It is early-stage, but shows the pipeline keeps producing new candidates, which supports long-term growth expectations.

    Pipeline progress is a core driver of biotech valuation.

  • Bribery allegations create legal and reputational risk A whistleblower letter alleges commercial bribery tied to the company's flagship drug sac-TMT, naming hospitals in Beijing. Kelun-Biotech denies it and threatens legal action. If proven, fines or sales restrictions could hurt; even unproven, it dents trust.

    This is the main counterweight and a real risk to the stock.

  • Interim sales jump 112%, cash raised First-half product sales rose 112% to RMB 657 million, helped by insurance coverage for three sac-TMT uses and a new breast-cancer approval. The company also raised HK$2.72 billion in a share placing and dropped its 'B' marker, easing funding worries.

    Strong commercial execution and fresh capital directly support the shares.

  • Partner's asthma drug moves to Phase III Partner Windward Bio reported positive Phase 2 asthma results for SKB378/WIN378, showing lasting lung-function gains with twice-yearly dosing, and started Phase 3. Success could bring milestone payments and royalties, adding a new growth path beyond cancer.

    Partner validation of another pipeline asset is a fresh positive catalyst.

China Resources Double-Crane Pharmaceutical Co Ltd (600062.CG)

Q3 2026
▲3▼1

Double-Crane bets on Lier Chemical while earnings slip and drug pipeline grows

  • 5.66 billion yuan Lier Chemical acquisition Double-Crane won the bid to buy 23.5% of Lier Chemical for 5.656 billion yuan cash, becoming its controlling shareholder. This expands into pesticides and synthetic biology, a long-term growth bet, though it uses a lot of cash and is a major restructuring.

    This is the biggest new event of the period and the main force behind the stock's story.

  • Interim profit and revenue fall First-half 2026 net profit was 946 million yuan, down 3.43%, and revenue fell 3.44% to 5.615 billion yuan. This shows the core business is under pressure, a real counterweight to the acquisition and pipeline news.

    It is the key financial result of the period and the main negative force on the stock.

  • New drug approvals and trial progress The company completed a Phase III trial for pregabalin extended-release tablets and received approvals for acetazolamide capsules, sodium lactate Ringer's irrigation solution, lomustine capsules, and ezetimibe/atorvastatin tablets. These add future revenue sources.

    A steady stream of pipeline wins supports long-term growth even as current earnings dip.

  • Dividend and procurement selection Double-Crane paid a cash dividend of 3.79 yuan per 10 shares and had products proposed for selection in the 12th national centralized drug procurement. Both are shareholder-friendly and support sales volume, though price cuts from procurement can pressure margins.

    These are new capital-return and demand-side events that affect investor income and product demand.

August 2026
▲3▼1

Double-Crane bets on Lier Chemical while earnings slip and drug pipeline grows

  • 5.66 billion yuan Lier Chemical acquisition Double-Crane won the bid to buy 23.5% of Lier Chemical for 5.656 billion yuan cash, becoming its controlling shareholder. This expands into pesticides and synthetic biology, a long-term growth bet, though it uses a lot of cash and is a major restructuring.

    This is the biggest new event of the period and the main force behind the stock's story.

  • Interim profit and revenue fall First-half 2026 net profit was 946 million yuan, down 3.43%, and revenue fell 3.44% to 5.615 billion yuan. This shows the core business is under pressure, a real counterweight to the acquisition and pipeline news.

    It is the key financial result of the period and the main negative force on the stock.

  • New drug approvals and trial progress The company completed a Phase III trial for pregabalin extended-release tablets and received approvals for acetazolamide capsules, sodium lactate Ringer's irrigation solution, lomustine capsules, and ezetimibe/atorvastatin tablets. These add future revenue sources.

    A steady stream of pipeline wins supports long-term growth even as current earnings dip.

  • Dividend and procurement selection Double-Crane paid a cash dividend of 3.79 yuan per 10 shares and had products proposed for selection in the 12th national centralized drug procurement. Both are shareholder-friendly and support sales volume, though price cuts from procurement can pressure margins.

    These are new capital-return and demand-side events that affect investor income and product demand.

Latest
▲3▼1

Double-Crane bets on Lier Chemical while earnings slip and drug pipeline grows

  • 5.66 billion yuan Lier Chemical acquisition Double-Crane won the bid to buy 23.5% of Lier Chemical for 5.656 billion yuan cash, becoming its controlling shareholder. This expands into pesticides and synthetic biology, a long-term growth bet, though it uses a lot of cash and is a major restructuring.

    This is the biggest new event of the period and the main force behind the stock's story.

  • Interim profit and revenue fall First-half 2026 net profit was 946 million yuan, down 3.43%, and revenue fell 3.44% to 5.615 billion yuan. This shows the core business is under pressure, a real counterweight to the acquisition and pipeline news.

    It is the key financial result of the period and the main negative force on the stock.

  • New drug approvals and trial progress The company completed a Phase III trial for pregabalin extended-release tablets and received approvals for acetazolamide capsules, sodium lactate Ringer's irrigation solution, lomustine capsules, and ezetimibe/atorvastatin tablets. These add future revenue sources.

    A steady stream of pipeline wins supports long-term growth even as current earnings dip.

  • Dividend and procurement selection Double-Crane paid a cash dividend of 3.79 yuan per 10 shares and had products proposed for selection in the 12th national centralized drug procurement. Both are shareholder-friendly and support sales volume, though price cuts from procurement can pressure margins.

    These are new capital-return and demand-side events that affect investor income and product demand.