Group 1 - The company, Jingxin Pharmaceutical (002020), has submitted an application for the issuance of overseas listed shares (H shares) to the Hong Kong Stock Exchange on February 11, 2026 [1] - The application materials for this issuance and listing have been published on the Hong Kong Stock Exchange website on the same day [1]

Core Viewpoint - The company, Jingxin Pharmaceutical (002020.SZ), has submitted an application for the issuance of overseas listed shares (H shares) and for listing on the main board of the Hong Kong Stock Exchange on February 11, 2026 [1] Group 1 - The application materials for this issuance and listing have been published on the Hong Kong Stock Exchange website on the same day [1]

证券代码：002020 证券简称：京新药业 公告编号：2026013 浙江京新药业股份有限公司 关于向香港联交所递交境外上市股份（H 股）发行 上市申请并刊发申请资料的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 需要特别予以说明的是，本公告仅为境内投资者及时了解本次发行并上 市的相关信息而作出。本公告以及刊登于香港联交所网站的申请资料均不构 成也不得视作对任何个人或实体收购、购买或认购公司本次发行的境外上市 股份(H 股）的要约或要约邀请。 公司本次发行并上市尚需取得中国证券监督管理委员会、香港证监会和 香港联交所等相关政府机关、监管机构、证券交易所的批准、核准或备案， 并需综合考虑市场情况以及其他因素方可实施，尚存在不确定性。公司将根 据该事项的进展情况依法及时履行信息披露义务，敬请广大投资者注意投资 风险。 特此公告！ 浙江京新药业股份有限公司董事会 浙江京新药业股份有限公司（以下简称"公司"）已于 2026 年 2 月 11 日向香港联合交易所有限公司（以下简称"香港联交所"）递交了发行境外 上市股份（H 股）并在香港联交所主板挂牌上市（以下简称" ...

Company Overview - Jingxin Pharmaceutical (002020.SZ) is an innovation-driven pharmaceutical group focusing on two core disease areas: central nervous system diseases and cardiovascular and cerebrovascular diseases. The company combines the commercialization of existing products with the continuous advancement of its product pipeline [1] - The company has shifted its strategic focus on innovative drug development towards central nervous system diseases and cardiovascular and cerebrovascular diseases, with a product portfolio that includes over 60 approved drugs, covering generic drugs, innovative drugs, traditional Chinese medicine, and biological agents [2] Financial Performance - For the fiscal years ending December 31, 2023, 2024, and the ten months ending October 31, 2025, the company reported revenues of approximately RMB 3.999 billion, RMB 4.159 billion, and RMB 3.344 billion, respectively [5] - The net profit for the same periods was approximately RMB 623 million, RMB 719 million, and RMB 629 million [4] - The gross profit margins for the fiscal years were 49.2%, 48.5%, and 48.3% respectively [6] Product Segmentation - The revenue breakdown by business line for 2023 shows that the main sources of income are from the following segments: - Pharmaceuticals: RMB 2.326 billion (58.2%) - Network: RMB 956 million (23.9%) - Medical devices: RMB 637 million (16.0%) [2] Market Overview - The Chinese pharmaceutical market is projected to grow from RMB 1,447.9 billion in 2020 to RMB 1,629.7 billion by 2024, with a compound annual growth rate (CAGR) of 3.0%. By 2035, it is expected to reach RMB 3,103.4 billion, with a CAGR of 6.5% from 2025 to 2035, surpassing the global CAGR of 5.1% during the same period [8] - The market share of patented drugs is expected to increase from 44.6% in 2020 to 70.0% by 2035, while the market share of generic drugs will decline from 55.4% to 30.0% [8] Central Nervous System Market - The global central nervous system drug market is expected to grow from USD 233.7 billion in 2020 to USD 258.8 billion by 2024, with a CAGR of 2.6%. The Chinese market is projected to grow from approximately USD 32.2 billion in 2020 to USD 34.1 billion by 2024, with a CAGR of 1.4% [10] - The insomnia drug market in China is expected to maintain a size of around USD 1.7 billion from 2020 to 2024, with a CAGR of -1.0%. However, it is projected to grow to USD 3.5 billion by 2035, with a CAGR of 7.5% from 2025 to 2035 [12] Cardiovascular Market - The global cardiovascular drug market is expected to grow from USD 115 billion in 2020 to USD 124.6 billion by 2024, with a CAGR of 2.0%. It is projected to reach USD 182 billion by 2035, with a CAGR of 3.8% from 2025 to 2035 [13] - The Chinese cardiovascular drug market is expected to decline from USD 25.5 billion in 2020 to USD 24.9 billion by 2024, with a CAGR of -0.7%. However, it is anticipated to rebound to USD 36.9 billion by 2035, with a CAGR of 4.1% from 2025 to 2035 [13]

Company Overview - Jingxin Pharmaceutical (002020.SZ) is an innovation-driven pharmaceutical group focusing on two core disease areas: central nervous system diseases and cardiovascular and cerebrovascular diseases. The company combines the commercialization of existing products with the continuous advancement of its product pipeline [2] - The company has successfully launched over 60 approved drugs, including generic drugs, innovative drugs, traditional Chinese medicine, and biological agents [2] - In 2023, the company launched its first innovative drug, Dazisni, approved for the treatment of insomnia, marking a significant milestone in its transformation to an innovation-driven model [2] Revenue Sources - The company's main revenue comes from domestic sales, with total revenue for the years 2023, 2024, and the first ten months of 2025 being approximately RMB 3.999 billion, RMB 4.159 billion, and RMB 3.344 billion respectively [3][5] - Revenue breakdown by business line for 2023 shows that pharmaceutical products contributed RMB 2.326 billion (58.2%), raw materials contributed RMB 956 million (23.9%), and medical devices contributed RMB 637 million (15.9%) [3] Profitability - The gross profit for the years 2023 and 2024 was RMB 1.967 billion and RMB 2.016 billion, respectively, with gross profit margins of 49.2% and 48.5% [5][6] - The net profit for the year 2023 was RMB 623.6 million, with a projected increase to RMB 719.1 million in 2024 [5] Industry Overview - The Chinese pharmaceutical market is expected to grow from RMB 1,447.9 billion in 2020 to RMB 1,629.7 billion by 2024, with a compound annual growth rate (CAGR) of 3.0% [8] - The market for patented drugs is projected to increase its share from 44.6% in 2020 to 70.0% by 2035, while the share of generic drugs is expected to decline from 55.4% to 30.0% over the same period [8] Central Nervous System Market - The global central nervous system drug market is projected to grow from USD 233.7 billion in 2020 to USD 258.8 billion by 2024, with a CAGR of 2.6% [9] - The Chinese market for central nervous system drugs is expected to grow from approximately USD 32.2 billion in 2020 to USD 34.1 billion by 2024, with a CAGR of 1.4% [9] Insomnia Drug Market - The insomnia drug market in China is expected to maintain a size of around USD 1.7 billion from 2020 to 2024, with a negative CAGR of -1.0%. However, it is projected to grow to USD 3.5 billion by 2035, with a CAGR of 7.5% from 2025 to 2035 [11] Cardiovascular Drug Market - The global cardiovascular drug market is expected to grow from USD 115 billion in 2020 to USD 124.6 billion by 2024, with a CAGR of 2.0% [12] - The Chinese cardiovascular drug market is projected to decline from USD 25.5 billion in 2020 to USD 24.9 billion by 2024, but is expected to rebound to USD 36.9 billion by 2035, with a CAGR of 4.1% from 2025 to 2035 [12][13]

Company Overview - Jingxin Pharmaceutical (002020.SZ) is an innovation-driven pharmaceutical group focusing on two core disease areas: central nervous system diseases and cardiovascular and cerebrovascular diseases. The company combines the commercialization of existing products with the continuous advancement of its product pipeline [1][2]. Product Portfolio - The company has shifted its strategic focus on innovative drug development towards central nervous system diseases and cardiovascular and cerebrovascular diseases. Its current product portfolio includes over 60 approved drugs, covering generic drugs, innovative drugs, traditional Chinese medicine, and biological agents [2]. - The generic drug segment is a significant part of the company's product mix, providing stable revenue and broad market coverage to support ongoing innovation investments. The focus is on psychiatric and neurological drugs, as well as cardiovascular and cerebrovascular drugs [2]. - The innovative drugs are central to the company's transformation and long-term growth, prioritizing unmet medical needs with clinical value and commercial potential. In 2023, the company launched a new innovative drug, Dazisni, approved for treating insomnia in China, marking a milestone in its transition to an innovation-driven model [2]. Financial Performance - The company reported revenues of approximately RMB 3.999 billion for the fiscal year 2023, with projections of RMB 4.159 billion for 2024 and RMB 3.344 billion for the ten months ending October 31, 2025 [5]. - The net profit for the fiscal year 2023 was approximately RMB 623 million, with projections of RMB 719 million for 2024 and RMB 629 million for the ten months ending October 31, 2025 [4][5]. - The gross profit margin for the fiscal year 2023 was 49.2%, with slight declines projected to 48.5% in 2024 and 48.3% in 2025 [6]. Industry Overview - The Chinese pharmaceutical market is expected to grow from RMB 1,447.9 billion in 2020 to RMB 1,629.7 billion by 2024, with a compound annual growth rate (CAGR) of 3.0%. By 2035, the market is projected to reach RMB 3,103.4 billion, with a CAGR of 6.5% from 2025 to 2035, surpassing the global CAGR of 5.1% during the same period [8]. - The market share of patented drugs is expected to increase from 44.6% in 2020 to 70.0% by 2035, while the market for generic drugs is projected to grow moderately, with a decline in market share from 55.4% to 30.0% over the same period [8]. Central Nervous System Market - The global central nervous system drug market is entering a stable growth phase, with the market size increasing from USD 233.7 billion in 2020 to USD 258.8 billion by 2024, reflecting a CAGR of 2.6%. The Chinese market is also growing, with an increase from approximately USD 32.2 billion in 2020 to USD 34.1 billion by 2024, and an expected CAGR of 4.1% from 2025 to 2035 [10]. - The insomnia drug market in China is projected to maintain a size of around USD 1.7 billion from 2020 to 2024, with a CAGR of -1.0%. However, it is expected to grow to USD 3.5 billion by 2035, with a CAGR of 7.5% from 2025 to 2035 [12]. Cardiovascular Drug Market - The global cardiovascular drug market is expected to grow from USD 115 billion in 2020 to USD 124.6 billion by 2024, with a CAGR of 2.0%. The Chinese market is projected to decline from USD 25.5 billion in 2020 to USD 24.9 billion by 2024, but is expected to rebound to USD 36.9 billion by 2035, with a CAGR of 4.1% from 2025 to 2035 [13][14].

Core Insights - Zhejiang Jingxin Pharmaceutical Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities as its sole sponsor [1] - The company focuses on innovation-driven pharmaceutical development, targeting two core disease areas: central nervous system diseases and cardiovascular and cerebrovascular diseases [1] - Jingxin Pharmaceutical's business model combines the commercialization of existing products with the ongoing development of its product pipeline [1] Company Overview - Jingxin Pharmaceutical (002020.SZ) offers a diverse product portfolio that includes drugs (both generic and innovative), traditional Chinese medicine, biological agents, active pharmaceutical ingredients, and medical devices [1]

Group 1 - The core viewpoint of the article is that Zhejiang Jingxin Pharmaceutical Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor [1] - Jingxin Pharmaceutical is characterized as an innovation-driven pharmaceutical group focusing on two main disease areas: central nervous system diseases and cardiovascular and cerebrovascular diseases [1] - The company's business model combines the commercialization of already listed products with the continuous advancement of its product pipeline [1] Group 2 - The current product portfolio includes drugs (such as generic drugs, innovative drugs, traditional Chinese medicine, and biological agents), active pharmaceutical ingredients, and medical devices [1]

据港交所文件：浙江京新药业股份有限公司向港交所提交上市申请书。 来源：滚动播报 ...

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