Group 1 - The company,维立志博-B, plans to globally offer 32.0544 million shares, with 3.2055 million shares available in Hong Kong and 28.8489 million shares for international offering, along with an over-allotment option of 4.8081 million shares [1] - The subscription period is set from July 17 to July 22, with a maximum offer price of HKD 35.00 per share, and an entry fee of approximately HKD 3,535.30 for 100 shares [1] - The total expected fundraising amount is HKD 1.067 billion, with a net amount of HKD 968 million, which will be used for clinical development, enhancing preclinical assets, expanding existing pipelines, optimizing technology platforms, increasing production capacity, commercialization post-approval, and general corporate purposes [1] Group 2 - The company is a clinical-stage biotechnology firm focused on discovering, developing, and commercializing innovative therapies to address unmet medical needs in oncology, autoimmune diseases, and other significant conditions [1] - Specifically, the company is a leader in next-generation tumor immunotherapy, aiming to advance breakthrough cancer therapies to improve patient outcomes [1] Group 3 - For the fiscal years 2023, 2024, and the first quarter of 2025 ending March 31, the company's net profits were -362 million, -301 million, and -75.367 million respectively, with year-on-year changes of -29.01%, 16.85%, and 12.94% [2]

Group 1 - The company, Valiant Bio-B (09887.HK), plans to globally offer 32.0544 million H-shares, with 3.2055 million shares available in Hong Kong and 28.8489 million shares for international offering, with the offering period from July 17 to July 22, 2025, and expected pricing on July 23, 2025 [1] - The expected price range for the shares is HKD 31.60 to HKD 35.00 per share, with a trading unit of 100 shares, and Morgan Stanley and CITIC Securities are the joint sponsors [1] - The company was established in 2012 and focuses on discovering, developing, and commercializing new therapies for cancer, autoimmune diseases, and other major diseases, with one core product LBL-024 currently in the registration clinical stage [1] Group 2 - The company has entered into cornerstone investment agreements, with cornerstone investors agreeing to subscribe for shares totaling USD 69 million (approximately HKD 541.6 million) under certain conditions [2] - Assuming a mid-range offering price of HKD 33.30 per share, cornerstone investors are expected to subscribe for approximately 16.2645 million shares [2] - Key cornerstone investors include Tencent Holdings (00700.HK), Highfields Capital, and others [2] Group 3 - If the offering adjustment rights and over-allotment options are not exercised, and assuming a share price of HKD 33.30, the company estimates net proceeds from the global offering to be approximately HKD 967.7 million [3] - The estimated proceeds will be allocated as follows: approximately 65% for clinical development and regulatory affairs of clinical-stage candidates, 15% for enhancing preclinical assets and expanding the pipeline, 10% for increasing production capacity, and 10% for working capital and general corporate purposes [3] Group 4 - Valiant Bio-B is expected to be listed on July 25, 2025, with cornerstone investors such as Tencent and Highfields supporting the offering [4]