Core Viewpoint - The company Wangshan Wangshui-B (02630.HK) is set to list on the Hong Kong Stock Exchange on November 6, with significant pre-listing trading activity indicating strong investor interest and potential profitability for investors [1][3]. Company Overview - Wangshan Wangshui was established in 2013 and operates in the biopharmaceutical sector, with nine innovative drug pipelines, two of which are in commercialization, four in clinical stages, and three in preclinical stages [5]. - The company's two core products are LV232, aimed at treating severe depression, and TPN171, a PDE5 inhibitor for erectile dysfunction (ED) [5]. Product Details - LV232 is expected to reduce gastrointestinal side effects compared to existing antidepressants, with a Phase II clinical trial in China starting in April 2025 and completion anticipated in the second half of 2026 [5]. - TPN171 has been approved in Uzbekistan since September 2022 and is expected to be approved in China by July 2025, with a projected global market size for PDE5 inhibitors of $10.6 billion in 2024, growing to $11.2 billion by 2035 [5][6]. Financial Performance - For the fiscal years 2023 and 2024, the company reported revenues of 200 million and 11.83 million, respectively, with net profits of 64.27 million and a loss of 218 million [6]. - The first four months of 2025 showed revenues of 12.96 million and a net loss of 11.2 million, with significant R&D expenditures related to core products [6][7]. Market Trends - The Hong Kong stock market has seen a resurgence in new IPOs, with 14 new stocks listed in October, of which only one experienced a decline on its first trading day [9]. - The average daily trading volume in Hong Kong has exceeded $32 billion this year, doubling from the previous year, with a total of 80 IPOs raising over $26 billion [9][10].

Core Viewpoint - The company, 旺山旺水-B (02630.HK), announced a global offering of 17,597,800 H-shares at a price of HKD 33.370 per share, raising a net amount of HKD 527 million [1] Summary by Sections Global Offering Details - The global offering consists of 17,597,800 H-shares priced at HKD 33.370 each, resulting in a net proceeds of HKD 527 million [1] - The Hong Kong public offering accounts for 10.0% of the total shares offered, with a subscription rate of 6,238.42 times [1] - The international offering represents 90.0% of the total shares, with a subscription rate of 16.87 times [1] Expected Trading Information - The Hong Kong public offering is expected to become unconditional on November 6, 2025, at or before 8:00 AM [1] - H-shares are anticipated to commence trading on the Stock Exchange of Hong Kong on November 6, 2025, at 9:00 AM [1] - The trading unit for H-shares will be 200 shares, with the stock code being 2630 [1]

Group 1 - The company announced the results of its share placement, with a total global offering of 17.5978 million H-shares [1] - The final offer price was set at HKD 33.370 per share, resulting in net proceeds of approximately HKD 527 million from the global offering [1] - The Hong Kong public offering was oversubscribed by 6,238.42 times, while the international offering was oversubscribed by 16.87 times [1] Group 2 - The Hong Kong public offering accounted for 10% of the total shares, while the international offering made up 90% [1] - Each board lot consists of 200 shares, and trading of the H-shares is expected to commence on November 6, 2025 [1]

Core Viewpoint - The company, 旺山旺水-B (02630), has successfully completed its global offering of H shares, raising approximately HKD 527 million with a final offer price of HKD 33.370 per share [1] Summary by Category Offering Details - The company issued a total of 17,597,800 H shares globally, with 10% allocated for public offering in Hong Kong and 90% for international offering [1] - The shares are expected to commence trading on the Hong Kong Stock Exchange on November 6, 2025, at 9:00 AM [1] Subscription Demand - The Hong Kong public offering was oversubscribed by 6,238.42 times, indicating strong local investor interest [1] - The international offering received a subscription rate of 16.87 times, reflecting significant demand from global investors [1]

香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）及香港中央結算有限公司 （「香港結算」）對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示 概不就因本公告全部或任何部分內容而產生或因依賴該等內容引致的任何損失承擔任何責任。 本公告並非招股章程。有意投資者應先細閱蘇州旺山旺水生物醫藥股份有限公司（「本公司」）所 刊發日期為2025年10月28日的招股章程（「招股章程」）有關下文所述全球發售的詳細資料，方 始決定是否投資於其所發售的H股。本公司並無亦不會根據1940年美國《投資公司法》（經修訂） 登記。 除非本公告另有界定，否則本公告所用詞彙與招股章程所界定者具有相同涵義。 就全球發售而言，中信里昂證券有限公司作為穩定價格操作人（「穩定價格操作人」）或代其行 事的任何人士均可在市場上購買、超額分配股份或進行交易或以其他方式進行該等穩定價格行 動，以在上市日期後一段有限期間內穩定或維持H股的市價高於原應達至的水平。任何有關穩 定價格行動將遵照所有適用法律及監管規定進行，包括《證券及期貨條例》項下的《證券及期貨 （穩定價格）規則》。然而，穩定價格操作人或代其行事的任何人士並無義務進行 ...

Core Viewpoint - The Hong Kong stock market is experiencing a significant surge in new stock listings, with notable gains observed in the initial trading days of these stocks, indicating a strong investor interest and profitability potential in the market [1][9]. Group 1: New Stock Performance - Wangshan Wangshui-B (02630.HK) is set to list on November 6, with its stock price soaring to 97 HKD per share during the dark trading phase, reflecting an increase of over 190% at one point [1][2]. - The stock closed at 85 HKD per share in the dark trading, marking a 154.72% rise from its offering price of 33.37 HKD per share, potentially yielding a profit of 10,300 HKD per lot (200 shares) for investors [1][3]. - Among the 14 new stocks listed in October, only one experienced a decline on its first trading day, while others saw substantial gains, with Jin Ye International Group achieving a remarkable 330% increase [9]. Group 2: Company Overview - Wangshan Wangshui, established in 2013, is a biopharmaceutical company with nine innovative drug pipelines, including two in commercialization, four in clinical stages, and three in preclinical stages [5]. - The company's core products include LV232, aimed at treating severe depression, and TPN171, a PDE5 inhibitor for erectile dysfunction (ED), with market projections indicating a stable growth in the PDE5 inhibitor market [5][6]. Group 3: Financial Performance - For the fiscal years 2023 and 2024, Wangshan Wangshui reported revenues of 200 million CNY and 11.83 million CNY, with net profits of 64.27 million CNY and a loss of 21.8 million CNY, respectively [7]. - The company attributed its 2024 net loss to a significant decrease in external licensing income, while the first four months of 2025 showed a further loss due to increased administrative expenses related to a new restricted stock plan [7]. Group 4: Market Trends - The Hong Kong stock market has seen a doubling of average daily trading volume to over 32 billion USD compared to the previous year, with 80 IPOs raising over 26 billion USD in the first ten months of the year, leading to a global ranking in IPO fundraising [9][10]. - Continuous inflow of southbound funds, which reached 1.17 trillion HKD by the end of Q3, is significantly enhancing the pricing power of the Hong Kong stock market, with long-term institutional investments expected to support a sustained upward trend [10][11].

Group 1 - The core point of the news is that 旺山旺水-B (02630) will be listed on the Hong Kong Stock Exchange on November 6, with a significant increase in its trading price compared to the initial offering price [1] - The dark trading price for 旺山旺水-B is reported at 85 HKD, which represents a 154.72% increase from the offering price of 33.37 HKD [1][2] - Each trading unit consists of 200 shares, resulting in a potential profit of 10,326 HKD per unit, excluding transaction fees [1] Group 2 - The trading volume for 旺山旺水-B reached 1.1604 million shares, with a highest price of 102 HKD and a lowest price of 61.25 HKD during the trading session [2] - The total market capitalization of 旺山旺水-B is reported at 5.668 billion HKD [2] - The stock showed a turnover rate of 1.74% during the trading session [2]

Group 1 - The company 旺山旺水-B (02630) is set to be listed on the Hong Kong Stock Exchange on November 6 [1] - As of the close, the dark trading by Livermore Securities shows a price of HKD 85, representing an increase of 154.72% from the offering price of HKD 33.37 [1][2] - Each lot consists of 200 shares, resulting in a profit of HKD 10,326 per lot, excluding transaction fees [1] Group 2 - The trading volume reached 1.1604 million shares, with a highest price of HKD 102 and a lowest price of HKD 61.25 [2] - The total market capitalization is reported at HKD 56.68 billion [2]

Core Viewpoint - 旺山旺水-B has seen a significant increase in its dark market trading, rising over 130% to a current price of 77.8 HKD, indicating strong investor interest and market confidence in the company [1] Group 1: Company Overview - 旺山旺水-B is listed on the Hong Kong Stock Exchange under the 18A biotechnology company rules, which allows for specific regulatory frameworks for biotech firms [1] - The company plans to issue 17.5978 million shares, with 10% allocated for public offering, suggesting a strategic approach to capital raising [1] Group 2: Financial Details - The offering price is set between 32 to 34 HKD per share, with a maximum fundraising target of nearly 600 million HKD, highlighting the company's ambition for substantial capital influx [1]

Group 1 - The core point of the news is that 旺山旺水-B (02630) will be listed on the Hong Kong Stock Exchange on November 6, with a significant increase in its trading price observed in the dark market, reaching 88 HKD, which is 163.71% higher than the IPO price of 33.37 HKD [1][2][3] - The dark market trading shows a transaction of 19,600 shares at a price of 88 HKD, indicating strong demand and interest from investors [2] - The highest trading price recorded was 88.85 HKD, while the lowest was 61.25 HKD, reflecting volatility in the early trading phase [2]