长风药业(02652)将于10月8日(周三)在香港挂牌。截至发稿，利弗莫尔证券暗盘交易显示报价46港元，较招股价14.75港元上涨211.86%，每手500股，不计手 续费，每手赚15625港元。 -20.480 ● 价位 ● 均价 -238.85% 45.980 分时量 量:11000 98000 45.960 45.940 45.920 45.900 MACD(12,26,9) :- 2.087 DIF :- 0.261 DEA:0.783 MACD 45.880 45.860 45.840 45.820 16:15 18:30 1分 55 分时 EK • 行情来源: 利弗莫尔证券 • | 49,986 | 238.85% 十档 | | --- | --- | | | 46.480 | | | 46.460 | | | 46.440 | | | 46.420 | | | 46.400 | | 14.750 | 46.380 | | | 46.360 | | | 46.340 | | | 46.320 | | | 46.300 | | | 46.000 | ...

| 49,986 | 238.85% | 十档 | | --- | --- | --- | | | | 46.480 | | | | 46.460 | | | | 46.440 | | | | 46.420 | | | | 46.400 | | 14.750 | | 46.380 | | | | 46.360 | | | | 46.340 | | | | 46.320 | | | | 46.300 | | | | 46.000 | -20.480 ● 价位 ● 均价 -238.85% 45.980 分时量 量:11000 98000 45.960 45.940 45.920 45.900 MACD(12,26,9) :- 2.087 DIF :- 0.261 DEA:0.783 MACD 45.880 45.860 45.840 45.820 16:15 18:30 1分 55 分时 日K • 行情来源: 利弗莫尔证券 • 智通财经APP获悉，长风药业(02652)将于10月8日(周三)在香港挂牌。截至发稿，利弗莫尔证券暗盘交易显示报价46港元，较招股价14.75港元上涨211.86%， 每手500股，不计手 ...

Group 1 - The core viewpoint of the articles highlights the significant oversubscription of Changfeng Pharmaceutical's IPO, with a margin loan of at least HKD 339.6 billion and an oversubscription rate of 5,587 times, making it the second highest in the new stock market since the revised pricing mechanism was implemented [1][2] - Changfeng Pharmaceutical plans to globally offer 41.198 million H-shares, with 10% allocated for Hong Kong and 90% for international sales, at a price of HKD 14.75 per share, with trading expected to commence on October 8, 2025 [1] - The company specializes in the research, production, and commercialization of inhalation technology and drugs, focusing on respiratory diseases, and has received six product approvals from the National Medical Products Administration and the FDA, demonstrating its capabilities in clinical development and commercialization [1] Group 2 - Financially, Changfeng Pharmaceutical's revenue is projected to grow from RMB 349 million in 2022 to RMB 608 million in 2024, reflecting a compound annual growth rate of 31.9%, with gross profit expected to reach RMB 491 million, a year-on-year increase of approximately 7.2% [2] - The company benefits from operational efficiency due to economies of scale and aims to continue controlling administrative expenses, with the proportion of administrative costs to revenue expected to decline as the business expands [2]

Core Viewpoint - Changfeng Pharmaceutical (02652) has experienced significant oversubscription in its IPO, indicating strong investor interest and confidence in the company's growth potential in the inhalation drug market [1][2]. Group 1: IPO Details - The IPO subscription period for Changfeng Pharmaceutical was from September 26 to October 2, with at least HKD 339.6 billion in margin loans reported by October 2, leading to an oversubscription rate of 5,587 times compared to the initial fundraising target of HKD 60.77 million [1]. - The company plans to issue 41.198 million H-shares globally, with 10% allocated for Hong Kong and 90% for international investors, at a price of HKD 14.75 per share [1]. - The H-shares are expected to commence trading on the Hong Kong Stock Exchange on October 8, 2025 [1]. Group 2: Business Focus and Product Development - Changfeng Pharmaceutical specializes in the research, development, production, and commercialization of inhalation technologies and drugs, primarily targeting respiratory diseases [1]. - The company has received six product approvals from the National Medical Products Administration (NMPA) and the U.S. Food and Drug Administration (FDA), showcasing its capabilities in clinical development, production, regulatory affairs, and commercialization [1]. Group 3: Financial Performance - The company's revenue is projected to grow from RMB 349 million in 2022 to RMB 608 million in 2024, reflecting a compound annual growth rate (CAGR) of 31.9% [2]. - Gross profit for 2024 is expected to reach RMB 491 million, representing a year-on-year increase of approximately 7.2% [2]. - The company benefits from economies of scale, leading to improved operational efficiency, and plans to continue controlling administrative expenses, which are expected to decrease as a proportion of revenue with business expansion [2].

Core Viewpoint - Beijing Shuanglu Pharmaceutical Co., Ltd. announced that its associate company, Changfeng Pharmaceutical Co., Ltd., is expected to be listed on the Hong Kong Stock Exchange on October 8, 2025, with a global offering of 41.198 million shares at a price of HKD 14.75 per share [1] Group 1 - The total number of shares offered in the global sale is 41.198 million [1] - The offering price per share is set at HKD 14.75 [1] - After the offering, Shuanglu Pharmaceutical will hold 15.165653 million shares of Changfeng Pharmaceutical, representing 3.68% of the total shares post-issuance [1] Group 2 - The lock-up period for Shuanglu Pharmaceutical's shares in Changfeng Pharmaceutical is 12 months [1] - According to regulations, Shuanglu Pharmaceutical will classify its equity stake in Changfeng Pharmaceutical as a financial asset [1] - The listing of Changfeng Pharmaceutical is expected to have a positive impact on Shuanglu Pharmaceutical's financial and operational results in 2025, subject to audit results [1]

双鹭药业(002038.SZ)公告，公司参股公司长风药业(02652)预计于2025年10月8日正式在联交所挂牌上 市，根据长风药业全球发售招股书披露，其本次全球发售4119.8万股，发售价格为每股14.75港元。 ...

Core Viewpoint - The company 双鹭药业 (002038.SZ) announced that its associate 长风药业 (02652) is expected to officially list on the Hong Kong Stock Exchange on October 8, 2025, with a global offering of 41.198 million shares priced at HKD 14.75 per share [1] Group 1 - 双鹭药业 holds a stake in 长风药业, which is preparing for its IPO [1] - 长风药业 plans to offer a total of 41.198 million shares in its global offering [1] - The offering price for each share is set at HKD 14.75 [1]

Group 1 - Double-Crane Pharmaceutical's associate company, Changfeng Pharmaceutical, is expected to officially list on the Hong Kong Stock Exchange on October 8, 2025, with stock code 02652.HK [1] - After the completion of the offering, Double-Crane Pharmaceutical will hold a total of 15.1657 million shares in Changfeng Pharmaceutical, which is expected to account for 3.68% of the total shares after issuance [1] Group 2 - LEO Holdings has submitted an application to the Hong Kong Stock Exchange on September 29, 2025, for the issuance of overseas listed shares (H shares) and for listing on the main board of the Hong Kong Stock Exchange [1]

Core Viewpoint - The announcement indicates that Changfeng Pharmaceutical, a company in which Shuanglu Pharmaceutical holds a stake, is expected to officially list on the Hong Kong Stock Exchange on October 8, 2025, under the stock code 02652.HK [1] Summary by Relevant Categories Company Information - Shuanglu Pharmaceutical holds 15,165,700 shares in Changfeng Pharmaceutical, which is expected to represent 3.68% of the total shares post-issuance [1] - Changfeng Pharmaceutical plans to globally offer 41,198,000 shares at a price of HKD 14.75 per share [1] Market Impact - The listing of Changfeng Pharmaceutical is anticipated to enhance Shuanglu Pharmaceutical's visibility and potential market valuation [1]

Core Viewpoint - Three new stocks, Xipuni, Zijin Gold, and Botai Che Lian, all experienced price increases during their dark pool trading, indicating positive market sentiment towards these IPOs [1][2]. Group 1: IPO Information - Longfeng Pharmaceutical (02652.HK) is set to issue 41.198 million shares, with 10% allocated for public sale and 90% for international placement, at an offering price of 14.75 HKD per share [4]. - The company has a market capitalization of approximately 60.77 billion HKD and a price-to-earnings ratio of 265 times [12]. - The minimum investment amount for a single lot of 500 shares is 7,449 HKD [4]. Group 2: Company Overview - Longfeng Pharmaceutical, established in January 2013 in Suzhou, focuses on the development of inhalation drug delivery technologies, particularly for respiratory diseases [4]. - The product pipeline includes treatments for asthma, chronic obstructive pulmonary disease (COPD), and allergic rhinitis [4]. Group 3: Product Line and Market Performance - The core product CF017 (Budesonide inhalation suspension) is the top-selling inhalation drug in China, accounting for approximately 16% of the market share in 2024 [5][11]. - CF018 (Fluticasone nasal spray) is the first drug approved in China for moderate to severe allergic rhinitis, included in the national medical insurance directory as of December 2023 [6]. - Revenue from CF017 constituted 96.2% of total revenue in 2022, highlighting the company's reliance on a single product [9][10]. Group 4: Financial Performance - Longfeng Pharmaceutical's revenue grew from 349.1 million CNY in 2022 to an estimated 607.8 million CNY in 2024, with a compound annual growth rate of 31.9% [7]. - The company achieved profitability in 2023 with a net profit of 31.73 million CNY, but profits are projected to decline to 21.09 million CNY in 2024 [8]. Group 5: Competitive Landscape and Market Outlook - The market for budesonide products is becoming increasingly competitive, with nine products available in China as of 2025, including seven domestic brands [11]. - The global respiratory drug market is expected to grow from 99.9 billion USD in 2024 to 157.2 billion USD by 2033, with a compound annual growth rate of 5.2% [11]. - Longfeng Pharmaceutical is developing over 20 candidate products for global markets, including innovative therapies for CNS diseases and infections [11].