Hong Kong Pharma shares rise 12.95% premarket as insider Liying Wang buys $6.9M at $0.97, signaling confidence in undervaluation.

Hong Kong Pharma surged 12.95% in premarket trading following a significant insider purchase. Liying Wang, a company insider, acquired $6.9 million worth of shares at $0.97 each over the past year, a price above the current $0.78 level. This transaction, combined with insiders owning 71% of the company, signals strong alignment between management and shareholders. The purchase suggests confidence in the stock’s undervaluation despite a 19% recent decline. While the company reports losses, the insider’s willingness to buy at a premium highlights optimism about long-term prospects, driving the premarket rally.