Group 1 - The core point of the article is that Pagoda Biopharmaceuticals-B (02565.HK) is set to be listed on the Hong Kong Stock Exchange tomorrow, but its dark market trading today has seen a decline of 4.87% [1] Group 2 - The company is preparing for its debut on the Hong Kong Stock Exchange, indicating a significant step in its growth and market presence [1] - The drop in dark market trading suggests potential investor concerns or market volatility surrounding the company's initial public offering [1]

Group 1: Company Overview - Contemporary Amperex Technology Co., Limited (CATL) has successfully listed in Hong Kong, raising HKD 35.657 billion, making it the largest IPO in the Hong Kong market since Kuaishou [1] - CATL's IPO could potentially become the largest globally by 2025 if the over-allotment option is exercised, raising the total to HKD 41 billion [1] Group 2: Market Dynamics - The innovative drug sector is currently experiencing significant growth, with companies like 3SBio seeing stock price increases of over 60% in recent trading days, driven by positive market sentiment [1] - The global market for Type 2 diabetes (T2DM) and obesity treatments is projected to grow significantly, with T2DM expected to reach USD 106.2 billion and obesity USD 58.5 billion by 2032, reflecting compound annual growth rates of 4.9% and 22.9% respectively [9] Group 3: Company Specifics - Paig Biological - Paig Biological, a biotechnology company focused on chronic disease therapies, is currently in the process of an IPO in Hong Kong, with a subscription period from May 19 to May 22, 2025 [2][5] - The company has undergone multiple rounds of financing, with a post-money valuation of approximately CNY 4 billion as of June 2023 [4] Group 4: Product Pipeline and Competition - Paig Biological's core product, PB-119, is a GLP-1 receptor agonist aimed at treating T2DM and obesity, with its NDA for T2DM accepted by the National Medical Products Administration in September 2023 [9][10] - The competitive landscape for PB-119 is challenging, with 13 competitors in the T2DM space and over 15 in the obesity treatment sector, including established players like Novo Nordisk and Eli Lilly [10] Group 5: Financial Performance - Paig Biological has reported net losses of CNY 306 million, CNY 279 million, and CNY 283 million for the years 2022, 2023, and 2024 respectively, alongside significant R&D expenditures [11]

宁德时代暗盘涨9%，中签一手赚2000港元，实在太火了，有31万人申购，远超上一只热门新股蜜雪冰城的26万人申购，以至于甲组全部都要抽签，乙组 1.9万人申购，乙头也才稳中一手。 一、招股信息 宁德时代孖展总额2800亿港元，恒瑞医药孖展预计2000亿，预示着申购人数没有宁王那么多，而总手数又是宁王的2.5倍，中签率会高出不少，大部分打 新人都能喝上一口汤。 | 公司名称 | 派格生物医药-B (02565.HK) | | --- | --- | | 所属行业 | 生物制药 | | 招股目期 | 5月19日～5月22日 | | 发行股数 | 总发行1928.35万股,其中10%为公开发 售,90%为国际配售 | | 招股价 | 15.6港元 | | 毎手股数 | 200 股 | | 公司市值 | 60.21亿 | | 市盈率 | 亏损 | | 最小申购金额 | 7878.66港元 | | 公布中签 | 5月26日 | | 上市日期 | 5月27日 | | 保荐人 | 中ぞ | | 绿鞋 | 元 | | 基石 | 1家基石认购 -- 165.82%-厌侃财 | 二、公司概况 派格生物成立于2008年，是一家专注 ...

Group 1: Company Developments - Jihong Co., Ltd. (吉宏股份) has launched its IPO in Hong Kong, with subscription ending on May 22. The share price ranges from HKD 7.48 to HKD 10.68, aiming to raise approximately HKD 725 million at the upper price point [1] - Pige Biopharmaceuticals (派格生物医药) has also initiated its IPO, with a share price set at HKD 15.60 and a global offering of 19.2835 million shares. The company focuses on innovative therapies for chronic diseases, particularly in the metabolic disorder sector [4] - Jianbei Miao Miao (健倍苗苗) expects a significant increase in annual profit, projecting a rise of no less than 50% for the year ending March 31, 2025, driven by effective brand management and strong sales performance in its core brands [5] Group 2: Market Trends - The successful IPOs of Jihong Co. and Pige Biopharmaceuticals may stimulate renewed interest in the cross-border e-commerce and biotechnology sectors within the Hong Kong stock market [1][4] - The strong performance of CATL (宁德时代) in the dark market, with an increase of 8.29% to HKD 284.8, reflects high market expectations for its upcoming IPO, indicating robust interest in the renewable energy sector [3] Group 3: Market Performance - The Hang Seng Index closed at 23,332.72, with a slight decline of 0.05% on May 19, indicating a mixed sentiment in the market [6] - The Hang Seng Tech Index and the National Enterprises Index also experienced minor declines of 0.50% and 0.09%, respectively, suggesting a cautious market environment [6]