HK Stock Connect Insight | STAR SPORTS MED (01609.HK) First-Half Revenue Up 21.6% YoY, Down 55.79% Since Stock Connect Inclusion

NewTimeSpace News: On October 21, 2026, STAR SPORTS MED closed at HKD 53.05, down 11.06% for the day, with turnover of HKD 14.663 million.

According to publicly available information, STAR SPORTS MED listed on the Main Board of HKEX on May 5, 2026 at an offer price of HKD 98.50, with a global offering of approximately 8.4219 million H shares and net proceeds of approximately HKD 758 million. The Hong Kong public offering was 7,823.13 times subscribed.

Since listing, the share price has ranged from a high of HKD 299.00 to a low of HKD 53.00. As of October 21, 2026, the stock closed at HKD 53.05, about 46.1% below the offer price of HKD 98.50. Since its inclusion in Stock Connect, the share price has fallen from HKD 120.00 at the close on September 7, 2026 to HKD 53.05, a decline of about 55.79%.

Hang Seng Indexes Company announced on August 21, 2026 the results of its quarterly review of the Hang Seng Index series for the period ended June 30, 2026, under which STAR SPORTS MED was included in the Hang Seng Composite Index with effect from September 7, 2026. The Shanghai and Shenzhen stock exchanges subsequently adjusted their respective lists of eligible securities under Stock Connect, and the company's shares were included in the list of eligible securities for Stock Connect with effect from September 7, 2026.

Founded in 2017, STAR SPORTS MED is a medical device company focused on sports medicine, with products covering four segments, namely implants, surgical equipment, regenerative repair and intelligent rehabilitation. Its products have entered more than 3,000 hospitals across China, including more than 1,000 tertiary hospitals, and it has obtained more than 200 medical device registration certificates in over 60 countries and regions.

On the financial front, the company's revenue for the first half of 2026 was RMB 163 million, up 21.6% year on year, of which revenue from implants was RMB 125 million, up 26.0% year on year, and revenue from surgical equipment and consumables was RMB 37.82 million, up 9.0% year on year. Net profit was RMB 27.4 million, down 26.1% year on year, while adjusted net profit was RMB 48.9 million, up 24.3% year on year.

CSC Financial noted that the renewal of centralized procurement for sports medicine is expected to be implemented in the fourth quarter of 2026, that domestic revenue growth in the second half is expected to accelerate from the first half, and that overseas revenue is expected to continue its rapid growth. With its dual drivers of implants and surgical equipment, new products such as regenerative medicine and surgical robots are expected to open up long-term growth space.