"Countercurrent" Hong Kong Stock Exchange Biotech "One Stand"

In 2020, NetEase, JD.com, two Internet giants have landed in Hong Kong stocks, so that the second listing of the chinese stock tide is spectacularcurrently has 248 U.S.-listed Chinese stocksAt the time when the development of the U.Sstock is blocked, the Hong Kong Stock Exchange, with its high degree of internationalization and perfect policy system, has a high probability of becoming the first stop of the return of the Chinese stockAs you can see, the hong Kong Stock Exchange's position on the global exchange "water rising ship high"and biotechnology companies continue to land on the HKEx, since april 2018, the hong Kong Stock Exchange new regulations, the HkEx has welcomed 28 medical health and biotechnology companies, biotechnology enterprises have become an important sector of the Hong Kong Stock Exchange listed enterprisesmore importantly, under the impact of the epidemic, biotechnology companies bucked the trend of Hong Kong stock IPO, whether the degree of market recognition, or the level of trading activity, have increasedIn 2019, HKEx welcomed 183 new listed companies, raising a total of HK$314.2 billion, up more than 9% YoYThe HONG Kong Stock Exchange is once again the world's largest IPO market in 2019This is also the seventh time in the past 11 years that the HKEx has asked for a challengethe first quarter of 2020, a total of 39 new shares were IPOs in Hong Kong, the world's largest number of IPOs, with HK$14.4 billion raised, the fourth largest in the worldThe Hong Kong market has shown great resilienceJune 27, the Hong Kong Stock Exchange Group ushered in the 20th anniversary of its establishment and listing, in the past three months, the Hong Kong Stock Exchange's share price has risen steadily, breaking hk$300, the Hong Kong Stock Exchange Market hong Kong Exchange Group listed for the 20th anniversary of the giftthe reform of the Listing System of Hong Kong Stocks, the return of general stock in biotechnology! The reform of the listing system of Hong Kong stocks inis an important reason for the return of general shares in biotechnology to Hong Kongmany of the previous Chinese stocks listed in the United States, because the Hong Kong stocks can not be marketedHKEx had previously missed the opportunity to list biotech companies because of the exchange's demands on revenue and profits that would make a typical biotech company ineligible for an IPO on hkex most biotech companies are planning to go public with little or no revenue, let alone profit At that time, Chinese biotech companies such as Baiji Shenzhou and Reding Pharmaceuticals had to go to New York to list 2018, the Hong Kong Stock Exchange introduced the most aggressive reform measures in history, the revised Hong Kong stock "main board listing rules" added three chapters, for three types of companies to go to Hong Kong listing to open the "green channel": (1) Chapter 8A - the same shares of different right structure companies listed (e.g., Xiaomi Group) ;( 2) Chapter 18A - No income biotech companies listed; reform sedituated unprecedented efforts to attract mainland and global companies to HKEx's IPOs As we review it in two years' time, this crucial decision has matured over time and is fulfilling its original commitments on a large scale "This is the Most Significant Listing Mechanism Reform in the Hong Kong Stock Market in the last 25 years, and the most controversial reform "As the new listing rules come into effect, HKEx Chief Executive Li Xiaoga concluded, "With the completion of the reforms, the Hong Kong capital market will become a world-class cradle for innovative companies." "
interesting, the tightening of US regulation of Chinese stocks and China's openness to Chinese stocks have accelerated the return of the giants Since the introduction of the new hkEx rules in April 2018, HKEx has welcomed 28 medical health and biotechnology companies listed in Hong Kong, raising HK$82.5 billion In just two years, Hong Kong has become the world's second largest biotechnology financing centre "allowing unprofitable biotech companies to go public" has made biotech companies "fall in love" with the Hong Kong Stock Exchange HKEx has been reforming its listing since 2018 to allow biotech companies that have not yet made or earned a profit to list in Hong Kong, and by the end of May 2020, 18 biotech companies had raised HK$44 billion through 18A listings, accounting for about 7.3% of the total fund-raising, with some companies issuing additional shares and raising an additional $27 billion More similar companies are expected to go public in the future, and biotechnology is a new ecosystem The stock code suffix -b through the 18A listed company." Baiji Shenzhou was originally listed through 18A, later cancelled -b, so now the stock code after -b is 17 The currency unit is Hong Kong dollar and data are taken from the closing date of 19 June 2020 from the industry point of view, 2 medical device companies, 15 new drug research and development companies Among them, in addition to The melee, Hualing, Conchino, new drug research and development companies are mainly in the development of new cancer drugs, the difference between their respective targets, indications, macromolecules, small molecules are different a sudden outbreak has not prevented biotech companies from listing on the Hong Kong Stock Exchange, but has highlighted their appeal On March 23, , Nocheng Jianhua was listed on the Hong Kong Stock Exchange, oversubscribed by 298.75 times On April 24, , Kangfang Bio was listed on the Hong Kong Stock Exchange, oversubscribed by 639.20 times on May 22, Pioneering Pharmaceuticals was listed on the Hong Kong Stock Exchange, oversubscribed by 551.32 times June 29, China's largest oncology medical group, Haigia Medical Holdings Limited, was listed on the Hong Kong Stock Exchange, its shares opened up 23.24 per cent at HK$22.8 The international offering portion is 25 times oversubscribed and the Hong Kong public offering portion is 608 times oversubscribed Higia Medical's 2019 revenue exceeds 1 billion yuan, not through 18A listed companies can see that after the outbreak, the global medical industry demand is in a period of rapid growth, making the medical sector a counter-cyclical sector, and even the industry of counter-trend growth both the degree of market recognition and the level of trading activity have increased, the Hong Kong Stock Exchange's biotechnology listing boom has continued the fundamentals of the Asian market, which has long been the world's largest supplier of IPOs, have not changed although affected by market volatility and travel restrictions, some project schedules for listed companies on the Hong Kong Stock Exchange have indeed slowed down or been delayed in the first and second quarters, but the schedule for listing applications is still healthy TMT (Technology, Media, Telecom, Technology, Media and Communications), Biotechnology, Big Spend, etc are among the areas of concern to investors industry estimates that the second half of the Hong Kong Stock Exchange is more optimistic, because from the past years of IPO listings, usually the third quarter will be a better time window, many companies will be in time to complete the listing before the fourth quarter , there are currently 146 healthcare companies listed in the Hong Kong market with a market capitalisation of HK$1.85 trillion, up 72% from April 2018 before the new listing rules came into effect healthcare sector and 18A sector turnover is also becoming more active: healthcare sector in 2019 volume is 3.5 times that of 2017, 18A sector volume in 2019 volume is four times that of 2017 healthcare sector as a whole will be 1.8 times market capitalization in 2019, double the overall market the biotech ecosystem of the Hong Kong Stock Exchange has begun to take shape, the Hang Seng Index company launched the Hang Seng Hong Kong-listed Biotech Index at the end of last year, with a total of 43 constituent stocks The index has gained nearly 13 per cent so far this year, outpacing the Hang Seng index's decline of about 15 per cent over the same period compared with nasdaq, the global biotech exchange leader, hkEx still has a distance: as of February last year, about 745 major health companies have landed on the NASDAQ market, of which about 171 biopharmaceutical companies have a market capitalisation of $490.7 billion the Hong Kong market has begun to build an ecosystem around new rules for biotech companies Listing Rules Chapter 18A of biotech companies may not fully cover all vulnerabilities arising from market evolution Therefore, the HKEx has recently issued new guidance materials on unprofitable biotech companies, mentioning that the companies concerned should consider enhancing disclosure in the listing documents, including the competitive situation of products and the target market, communication with the competent authorities, etc At the same time, the guidelines require prospective issuers to disclose in listing documents the adverse effects that research and development failures may have on the company's future hong Kong Stock Exchange said that these requirements are not too harsh, but because Hong Kong has a large number of retail investors, to let investors understand the risks With the development of the biotechnology sector rapidly changing rapidly and the future of mankind facing new diseases and new therapeutic technologies, it is necessary for HKEx to reflect on changes in potential regulatory models and to update the guidelines for issuers and the market to provide clearer listing and disclosure requirements with more and more high-quality enterprises listed / return, more international and domestic capital to join, as well as fully learn from the capital market of developed countries regulatory system, the Hong Kong Stock Exchange becomes the "Oriental NASDAQ" or will come true and a large number of biotech companies will be listed in the choice of location, the "HKEx" priority Finally, the formation of the Hong Kong Stock Exchange's biotechnology sector new business!