On August 31, DUALITYBIO-B fell 7.29% in regular trading, trading at 185.5 HKD/share, with turnover of HKD 282 million. The selloff came as the market digested the company's disappointing interim results released on August 28.

The H1 financials revealed a sharp revenue decline to RMB 219 million from RMB 1.229 billion a year earlier. Management attributed the drop primarily to a one-time RMB 291 million revenue deduction arising from exercising its DB-1311/BNT324 US market exclusive cost and profit/loss sharing option, compounded by lower upfront and milestone payments recognized in the period. Adjusted net profit swung from a RMB 146 million gain to a RMB 627 million loss, while operating cash flow reversed from a RMB 590 million inflow to a RMB 424 million outflow. R&D expenses surged 73.64% year-over-year to RMB 607 million, reflecting accelerated pipeline investment.

Broader sector weakness amplified the decline, with INNOVENT BIO down 3.81%, AKESO down 5.19%, BEONE MEDICINES down 4.10%, 3SBIO down 4.42%, and EVEREST MED down 6.23%, reflecting subdued sentiment across the biotechnology sector.

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