Yuekang Pharmaceuticals intends to issue 90 million shares in an initial public offering and list them on the board

On December 3, Yuekang Pharmaceuticals announced that it intends to issue 90 million shares in an initial public offering and list them on the SSE Science and Technology Board, with a total share capital of 360 million shares before the offering.
sponsor institution will arrange for CITIC Securities Investment Co., Ltd., a relevant subsidiary established by the sponsor institution in accordance with the law, to participate in the strategic allocation of the offering, with an initial investment ratio of 5% of the number of shares issued, or 4.5 million shares.
initial inquiry date is December 9, 2020 and the requisition date is December 14, 2020.
Yuekang pharmaceutical owners business covers drug research and development, manufacturing, circulation and sales of the entire industrial chain, with injections, freeze-dried powder needles, tablets, capsules and other dosage forms and some raw materials production capacity, products covering cardiovascular, digestive system, anti-infection, endocrine and anti-tumor and other 12 drug areas.
net profit attributable to shareholders of the parent company in 2017, 2018 and 2019 was approximately RMB162 million, RMB268 million and RMB285 million, respectively.
is also noteworthy that its revenues come mainly from generic products.
reporting period, the company's generic drug revenue (including agent generic products) was RMB241,332.31 million, RMB37,251.997 million, and RMB394,193.3 million, respectively. Rmb050,000 and RMB148.62321 million, accounting for 95.29 per cent, 95.50 per cent, 94.85 per cent and 91.68 per cent of the main business income, respectively.
January-June 2020, the company's API revenue growth, generics revenue share decreased.
It is learned that Yuekang Pharmaceuticals will be fully used for the company's main business-related projects after deducting the issuance costs, the specific investment projects are as follows: 390 million yuan for research and development center construction and innovative pharmaceutical research and development projects; Production line construction projects; 100 million yuan for API technology upgrading projects; 80 million yuan for intelligent coding system construction projects; 50 million yuan for marketing center construction projects; 170 million yuan for intelligent chemical plants and green upgrading projects; 450 million yuan for supplementary working capital.
from: Yuekang Pharmaceuticals Announcement