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Since the Hong Kong Stock Exchange revised the "Listing Rules" in 2018 to introduce Chapter 18A, allowing unprofitable biotech companies to list in Hong Kong, China, there has been an upsurge in medical companies listing in Hong Kong
.
According to data, as of December 17, 2021, a total of 92 new stocks have been listed, and the initial public fundraising amounted to 318.
9 billion yuan
.
Among them were 54 new economy companies, accounting for 86.
6% of the IPO funds raised in Hong Kong during the period
.
Of the 54 companies, 32 are healthcare and biotech companies
.
In addition, among these 32 companies, medical device companies account for the majority, and their main business scope covers orthopedics, medical optical imaging, rehabilitation medical devices, in vitro diagnostic instruments and reagents and other fields
.
For medical companies to go public in Hong Kong, industry insiders believe that this is mainly due to the high research and development costs of medical companies and the strong uncertainty of future development, so strong capital is needed to promote the company's development
.
Due to the faster listing speed of Hong Kong stocks, many companies have chosen to list in Hong Kong
.
It is worth noting that after sorting out the Hong Kong-listed medical companies that have been listed in recent years, the analysis shows that these companies can be roughly divided into two categories: one is the listed companies listed through the spin-off of subsidiaries or "A+H"
.
For example, Lepu Medical announced on the evening of May 14, 2021 that the company plans to spin off its holding subsidiary Lepu Xintai Medical Technology (Shanghai) Co.
, Ltd.
and list it on the main board of the Stock Exchange of Hong Kong Limited
.
Another category is innovative drug companies that have no profits or even losses
.
Take Chi-Med Medicine as an example.
After passing the listing hearing in June last year, it is expected to be listed on the Hong Kong Stock Exchange on June 30, 2021
.
The company plans to issue 104 million shares in this listing, with an offering price of no more than HK$45 per share and a total fundraising of HK$4.
441 billion
.
According to the data, Chi-Med is a global biopharmaceutical company in the commercialization stage, focusing on the discovery, development and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immune diseases
.
According to the prospectus, Chi-Med’s revenue in the first quarter of 2018, 2019, 2020, and 2021 was $214 million, $205 million, $228 million, and $81.
56 million, respectively; net losses were $71.
28 million, $1.
04 $100 million, $116 million, $39.
85 million
.
Therefore, industry analysts believe that this means that the Hong Kong stock market may prefer the fundamentals and growth expectations of pharmaceutical companies
.
In the future, companies that are competitive in this regard may be able to sprint to the Hong Kong Stock Exchange
.
However, it should be noted that under the background of the current medical enterprises getting together to list in Hong Kong, there are many medical companies that have failed to go public due to the expiration of their prospectus
.
For example, on February 21, the prospectus of Inference Medical Technology Co.
, Ltd.
(hereinafter referred to as "Inference Medical") expired and became invalid on the website of the Hong Kong Stock Exchange
.
On February 16, Mega Genomics Limited's IPO application materials were also "invalid", which led to the sprint for listing on the Hong Kong Stock Exchange
.
However, the day after the prospectus expired, Maingene quickly updated the prospectus information and started its second listing in Hong Kong
.
In addition, the listing application materials of Shenzhen Northchip Life Science and Technology Co.
, Ltd.
(hereinafter referred to as "Northchip Life Science and Technology") have also expired this month, and it is currently impossible to view or download normally
.
This means that North Core's sprint to be listed on the Hong Kong Stock Exchange has already failed
.
In this regard, the industry suggests that companies should increase their grasp of the expiration of the prospectus, so as not to interrupt their own listing process
.
Disclaimer: Under no circumstances does the information or opinions expressed in this article constitute investment advice to anyone
.
.
According to data, as of December 17, 2021, a total of 92 new stocks have been listed, and the initial public fundraising amounted to 318.
9 billion yuan
.
Among them were 54 new economy companies, accounting for 86.
6% of the IPO funds raised in Hong Kong during the period
.
Of the 54 companies, 32 are healthcare and biotech companies
.
In addition, among these 32 companies, medical device companies account for the majority, and their main business scope covers orthopedics, medical optical imaging, rehabilitation medical devices, in vitro diagnostic instruments and reagents and other fields
.
For medical companies to go public in Hong Kong, industry insiders believe that this is mainly due to the high research and development costs of medical companies and the strong uncertainty of future development, so strong capital is needed to promote the company's development
.
Due to the faster listing speed of Hong Kong stocks, many companies have chosen to list in Hong Kong
.
It is worth noting that after sorting out the Hong Kong-listed medical companies that have been listed in recent years, the analysis shows that these companies can be roughly divided into two categories: one is the listed companies listed through the spin-off of subsidiaries or "A+H"
.
For example, Lepu Medical announced on the evening of May 14, 2021 that the company plans to spin off its holding subsidiary Lepu Xintai Medical Technology (Shanghai) Co.
, Ltd.
and list it on the main board of the Stock Exchange of Hong Kong Limited
.
Another category is innovative drug companies that have no profits or even losses
.
Take Chi-Med Medicine as an example.
After passing the listing hearing in June last year, it is expected to be listed on the Hong Kong Stock Exchange on June 30, 2021
.
The company plans to issue 104 million shares in this listing, with an offering price of no more than HK$45 per share and a total fundraising of HK$4.
441 billion
.
According to the data, Chi-Med is a global biopharmaceutical company in the commercialization stage, focusing on the discovery, development and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immune diseases
.
According to the prospectus, Chi-Med’s revenue in the first quarter of 2018, 2019, 2020, and 2021 was $214 million, $205 million, $228 million, and $81.
56 million, respectively; net losses were $71.
28 million, $1.
04 $100 million, $116 million, $39.
85 million
.
Therefore, industry analysts believe that this means that the Hong Kong stock market may prefer the fundamentals and growth expectations of pharmaceutical companies
.
In the future, companies that are competitive in this regard may be able to sprint to the Hong Kong Stock Exchange
.
However, it should be noted that under the background of the current medical enterprises getting together to list in Hong Kong, there are many medical companies that have failed to go public due to the expiration of their prospectus
.
For example, on February 21, the prospectus of Inference Medical Technology Co.
, Ltd.
(hereinafter referred to as "Inference Medical") expired and became invalid on the website of the Hong Kong Stock Exchange
.
On February 16, Mega Genomics Limited's IPO application materials were also "invalid", which led to the sprint for listing on the Hong Kong Stock Exchange
.
However, the day after the prospectus expired, Maingene quickly updated the prospectus information and started its second listing in Hong Kong
.
In addition, the listing application materials of Shenzhen Northchip Life Science and Technology Co.
, Ltd.
(hereinafter referred to as "Northchip Life Science and Technology") have also expired this month, and it is currently impossible to view or download normally
.
This means that North Core's sprint to be listed on the Hong Kong Stock Exchange has already failed
.
In this regard, the industry suggests that companies should increase their grasp of the expiration of the prospectus, so as not to interrupt their own listing process
.
Disclaimer: Under no circumstances does the information or opinions expressed in this article constitute investment advice to anyone
.
