Core Viewpoint - The article highlights the significant fire incident in Hong Kong's Tai Po district, which resulted in major casualties, prompting Baoji Pharmaceutical-B (02659) to take action by donating HKD 1 million for emergency relief efforts [1] Group 1: Company Response - Baoji Pharmaceutical-B announced a donation of HKD 1 million to assist affected residents with emergency rescue, supply of living materials, medical aid, and subsequent reconstruction efforts [1] - The company expressed deep condolences to the victims and their families, showing respect for the firefighters, paramedics, and frontline teams who responded to the crisis [1] - Baoji Pharmaceutical-B emphasized its commitment to closely monitor the disaster relief progress and hopes for a swift recovery of the community with collective support from society [1]

宝济药业向遇难者及其家属表示沉痛哀悼，并向所有奋不顾身投入救援的消防及救护人员，以及第一时 间响应的前线团队致以崇高敬意，感谢他们在危难关头展现的专业精神与无私付出。宝济药业将继续密 切关注救灾进展，期盼在社会各界同心同力的援助下，社区早日恢复秩序，市民重归平安生活。 智通财经APP获悉，11月26日，香港大埔宏福苑多栋住宅楼发生火灾，造成重大人员伤亡，灾情牵动着 社会各界的心。值此艰难时刻，为帮助受灾同胞渡过难关，宝济药业-B(02659)积极履行企业社会责 任，宣布捐款100万港元，用于受灾居民的紧急救援、生活物资补给、医疗救助及后续重建工作。 ...

宝济药业-B（02659）首挂上市，公告显示，每股定价26.38港元，共发行3791.17万股股份，每手100 股，所得款项净额约9.22亿港元。截至发稿，股价上涨119.86%，现报58港元，成交额2.69亿港元。 招股书显示，宝济药业是一家处于临床和商业化阶段的生物技术公司，利用合成生物技术在中国开发及 提供重组生物药物，专注于攻克治疗选择有限且药物制造工艺复杂的目标病症。宝济药业通过技术差异 化的产品，勇闯四个独立且高价值的治疗市场，包括大容量皮下给药、抗体介导的自身免疫性疾病、辅 助生殖药物及重组生物制药取代传统生化产品的变革性产品。 来源：新浪港股 ...

北京商报讯（记者 丁宁）12月10日，宝济药业（02659.HK）登陆港交所，公司股票上市首日高开 129.34%，开盘价为60.5港元/股。 资料显示，宝济药业成立于2019年，是一家处于临床和商业化阶段的生物技术公司，利用基于合成生物 技术的先进生物制造在中国开发及提供重组生物药物，专注于攻克治疗选择有限且药物制造工艺复杂的 目标病症。 ...

Core Viewpoint - Baoji Pharmaceutical (02659) has successfully listed its shares at a price of HKD 26.38 per share, raising approximately HKD 922 million, with a significant initial trading surge of 129.34% to HKD 60.5 per share, indicating strong market interest and investor confidence in the company's potential [1][1][1] Company Overview - Baoji Pharmaceutical is a biotechnology company in the clinical and commercialization stages, focusing on developing and providing recombinant biopharmaceuticals in China using synthetic biology technology [1][1] - The company targets high-value therapeutic markets with complex drug manufacturing processes, including large-volume subcutaneous delivery, antibody-mediated autoimmune diseases, assisted reproductive drugs, and transformative products that replace traditional biochemical products [1][1] Key Products - The company has developed China's first recombinant hyaluronidase, KJ017, for large-volume subcutaneous delivery [1][1] - KJ103, a global first with "best-in-class" potential in low pre-storage antibodies and dosing frequency, is aimed at treating antibody-mediated autoimmune diseases [1][1] - SJ02, a long-acting follicle-stimulating hormone drug, has been validated through collaboration for use in assisted reproduction [1][1] - These three core products are either in commercialization, new drug application (NDA) registration, or late-stage clinical trials in China, indicating a transition from pure research to commercialization for Baoji Pharmaceutical [1][1]

Core Viewpoint - Baoyi Pharmaceutical-B (02659) has successfully listed its shares at a price of HKD 26.38, raising approximately HKD 922 million, with a significant initial surge of 129.34% to HKD 60.5 per share, indicating strong market interest and investor confidence [1] Company Overview - Baoyi Pharmaceutical is a biotechnology company in the clinical and commercialization stages, focusing on developing and providing recombinant biopharmaceuticals in China using synthetic biology technology [1] - The company targets four independent and high-value therapeutic markets, including large-volume subcutaneous delivery, antibody-mediated autoimmune diseases, assisted reproductive drugs, and transformative products that replace traditional biochemical products [1] Key Products - Baoyi Pharmaceutical has developed China's first marketed recombinant hyaluronidase KJ017 for large-volume subcutaneous delivery [1] - The company also offers KJ103, a global first with "best-in-class" potential in low pre-storage antibody and administration frequency for antibody-mediated autoimmune diseases [1] - Additionally, SJ02, a long-acting follicle-stimulating hormone drug for assisted reproduction, has been validated through collaboration [1] - These three core products are in various stages of commercialization, NDA registration, or late clinical phases, indicating a transition from pure R&D to commercialization for Baoyi Pharmaceutical [1]

Group 1 - The core viewpoint of the article highlights that Baoyi Pharmaceutical-B (02659) successfully completed a new share issuance of approximately HKD 1 billion, attracting significant attention in the capital market with a particularly enthusiastic response from investors [1] - The IPO international placement was oversubscribed by 6.59 times, while the Hong Kong public offering saw an impressive 3526.34 times subscription, indicating high market participation [1] - Baoyi Pharmaceutical is expected to officially list on the Hong Kong Stock Exchange on December 10, 2025, with strong initial trading performance reflected in the dark market, where shares were priced at HKD 56, a 112.28% increase from the offering price of HKD 26.38 [1] Group 2 - The company has attracted several well-known institutional cornerstone investors, including Anke Biotechnology Hong Kong and Guotai Junan Securities Investment, who collectively subscribed for HKD 200.6 million, accounting for approximately 20.06% of the total funds raised [1] - Baoyi Pharmaceutical is a biotechnology company in the clinical and commercialization stages, focusing on developing and providing recombinant biopharmaceuticals in China using synthetic biology technology [2] - The company is targeting four independent and high-value treatment markets, including large-volume subcutaneous administration and antibody-mediated autoimmune diseases, with three core products already in commercialization or late clinical stages [2] Group 3 - The funds raised from the IPO will be allocated to the research and commercialization of core products (KJ017, KJ103, and SJ02), advancing other existing pipeline products, optimizing proprietary synthetic biology technology, and enhancing production capacity [3] - Baoyi Pharmaceutical's financial performance supports its listing, with revenues of RMB 6.93 million, RMB 6.16 million, and RMB 41.99 million for the six months ending June 30 in 2023, 2024, and 2025, respectively, indicating strong growth potential [2] - The company has sufficient cash reserves, with cash and cash equivalents amounting to RMB 453 million as of June 30, 2025, which will support its operational needs and growth initiatives [2]

Core Insights - Baoyi Pharmaceutical successfully completed a new share issuance of approximately HKD 1 billion, attracting significant attention in the capital market with an oversubscription of 6.59 times for international placements and 3526.34 times for public offerings in Hong Kong [1] - The company is expected to officially list on the Hong Kong Stock Exchange on December 10, 2025, with strong initial trading performance reflected in a closing price of HKD 56, representing a 112.28% increase from the offering price of HKD 26.38 [1] - Notable cornerstone investors include Anke Biotechnology, DC Alpha SPC, and Guotai Junan Securities, collectively subscribing for HKD 200.6 million, which accounts for 20.06% of the total fundraising [1] Business Model and Product Pipeline - Baoyi Pharmaceutical operates in the clinical and commercialization stages of biotechnology, focusing on developing and providing recombinant biopharmaceuticals using synthetic biology technology in China [2] - The company targets four independent and high-value therapeutic markets, including large-volume subcutaneous delivery, antibody-mediated autoimmune diseases, assisted reproductive drugs, and transformative products replacing traditional biochemical products [2] - Key products include KJ017, the first recombinant hyaluronidase in China for large-volume subcutaneous delivery; KJ103, a global first with "best-in-class" potential for low pre-stored antibodies; and SJ02, a long-acting follicle-stimulating hormone drug for assisted reproduction [2] Financial Performance - Baoyi Pharmaceutical's financial performance shows promising growth, with revenues of RMB 6.93 million, RMB 6.16 million, and RMB 41.99 million for the six months ending June 30 in 2023, 2024, and 2025, respectively [2] - The corresponding gross profits for the same periods were RMB 6.78 million, RMB 5.02 million, and RMB 41.73 million, indicating strong profitability potential [2] - As of June 30, 2025, the company reported cash and cash equivalents of RMB 453 million, reflecting a solid cash reserve [2] Use of Proceeds - The funds raised from the IPO will be allocated to the research and commercialization of core products (KJ017, KJ103, and SJ02), advancing existing pipeline products, optimizing proprietary synthetic biology technology, enhancing production capacity, and general corporate purposes [3] - The company aims to leverage its steady revenue growth, reasonable valuation, and expanding market space to translate into tangible performance returns over time [3]

Core Viewpoint - Baijia Pharmaceutical successfully completed a new share issuance of approximately HKD 1 billion, attracting significant market attention with a subscription rate of 6.59 times for international placements and 3526.34 times for public offerings in Hong Kong, indicating strong market participation [1] Group 1: Company Overview - Baijia Pharmaceutical is a biotechnology company in the clinical and commercialization stages, focusing on developing and providing recombinant biopharmaceuticals in China using synthetic biology technology [1][2] - The company is entering four independent and high-value therapeutic markets, including large-volume subcutaneous administration, antibody-mediated autoimmune diseases, assisted reproductive drugs, and transformative products replacing traditional biochemical products [2] Group 2: Product Pipeline - Baijia Pharmaceutical's core products include KJ017, the first recombinant hyaluronidase in China for large-volume subcutaneous administration; KJ103, a global first with "best-in-class" potential for low pre-stored antibodies; and SJ02, a long-acting follicle-stimulating hormone drug for assisted reproduction [2] - These products are in various stages of commercialization, new drug application registration, or late clinical phases, indicating a transition from pure research to commercialization [2] Group 3: Financial Performance - The company reported revenues of RMB 6.93 million, RMB 6.16 million, and RMB 41.99 million for the six months ending June 30 in 2023, 2024, and 2025, respectively, showcasing strong revenue growth potential [2] - Corresponding gross profits were RMB 6.78 million, RMB 5.02 million, and RMB 41.73 million, reflecting good profitability [2] - As of June 30, 2025, the company had cash and cash equivalents of RMB 453 million, indicating a strong cash reserve [2] Group 4: Use of Proceeds - The funds raised from the IPO will be allocated to the R&D and commercialization of core products, advancing existing pipeline products, optimizing proprietary synthetic biology technology, enhancing production capacity, and general corporate purposes [3] Group 5: Market Outlook - Baijia Pharmaceutical's steady revenue growth, reasonable valuation, and expanding market space are expected to translate into tangible performance returns over time [3]

格隆汇12月9日丨宝济药业-B(02659.HK)公告，公司全球发售37,911,700股H股，每股H股26.38港元，所 得款项净额9.2亿港元。香港公开发售股份数目占全球发售股份数目10%，获认购3,526.34倍；国际发售 股份数目占全球发售股份90%，获认购6.59倍。假设全球发售于2025年12月10日(星期三)上午八时正或 前(香港时间)成为无条件，预期H股将于2025年12月10日(星期三)上午九时正(香港时间)开始在联交所买 卖。H股将以100股H股为一手买卖单位进行交易，H股的股份代号为2659。 ...