In the first half of 2024, against the backdrop of market capital preference for value stocks, Consun Pharma's long-standing stable performance and continued high dividend payout strategy have won the favor of many investors and analysts. The stock price, adjusted for the split, has risen by more than 33%, with a fluctuation of more than 51%, reaching a high of HKD 7.16. This performance significantly outperformed the Hang Seng Index and the Hong Kong stock pharmaceutical sector.
Since mid-May, affected by the correction of the Hong Kong stock market and the exercise of the purchase rights by the company's top two shareholders, investors have misunderstood this operation as high-level shareholding reduction, which has led to a slight retracement of Consun Pharma's stock price.
Recently, Mr. An Meng, Chairman and CEO of Consun Pharma, fulfilled his verbal commitment at the shareholders' meeting on May 31 and made a large-scale increase in the company's stock to demonstrate the management's high recognition of the company's long-term value. It is believed that this move will also help boost market confidence.
According to the latest equity disclosure information from the Stock Exchange, Mr. An Meng increased his holdings by purchasing 0.123 million shares, 0.05 million shares, and 1.3 million shares respectively at an average price of HKD 5.61, HKD 5.73, and HKD 5.9 per share from July 3 to 5, 2024. He increased his holdings by a total of 1.473 million shares over the three days, with a total amount of about HKD 8.6465 million. After the increase, Mr. An Meng's latest shareholding is 0.213 billion shares, and the latest shareholding ratio is 25.26%.
Chart 1: Consun Pharma's stock holding increase
Data source: DiscloseAsia, Thefly