QuantumPharma Technology's shares hit a new high, up more than 60% in the past five trading days, and it is the first special technology stock of 18C

QuantumPharmtech (02228) rose more than 7% in the morning, hitting a new high of HK$9.94, up more than 60% in the past five trading days. As of the writing, it rose 6.8% to HK$9.89, with a turnover of HK$8.441 million.

On the news front, QuantumPharmtech was included in the Hang Seng Composite Index. The adjustment will take effect on September 9, and CICC expects the company to be included in the Hong Kong Stock Connect. It is worth noting that QuantumPharmtech is the first technology company to go public under the new rules for specialized and emerging technologies (18C) since March 31, 2023.

QuantumPharmtech was founded in 2015 by three postdoctoral physicists from MIT. The company uses quantum physics-based first-principles calculations, advanced artificial intelligence, high-performance cloud computing, and scalable and standardized robotic automation to provide drug and materials science research solutions and services to global enterprise groups and innovative companies in the pharmaceutical and materials science industries, including agricultural technology, energy, and new chemicals and cosmetics.