Core Viewpoint - Changchun High-tech aims to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and international brand image [1][2] Group 1: Company Strategy - The company is a leading player in the domestic biopharmaceutical sector, focusing on the research, production, and sales of biopharmaceuticals and traditional Chinese medicine, along with real estate development [1] - Changchun High-tech is advancing its international strategy by building innovative platforms and exploring diverse development methods such as License-out to collaborate with large international pharmaceutical companies [1][2] - The company reported a significant increase in overseas sales revenue from its subsidiary, Changchun Jinsai Pharmaceutical, which grew by 454% year-on-year, with emerging markets like Algeria becoming key growth drivers [1] Group 2: Market Context - The trend of A-share companies listing in Hong Kong is increasing, with 7 A-share companies successfully listing in 2023, contributing to the growing "A+H" model [3] - The Hong Kong IPO market has seen a surge, with 43 new stocks listed and total fundraising of 1,067 million HKD, marking a 43% increase in quantity and a 708% increase in scale compared to the previous year [3] - The biopharmaceutical sector is particularly active, with 6 companies successfully listing in Hong Kong this year, surpassing the total from the previous year [3][4] Group 3: Regulatory Environment - The introduction of the 18A listing rule in 2018 has made Hong Kong a preferred destination for biotech companies, allowing those without revenue or profit to list [4] - The ongoing policy benefits and improvements in the listing process have created favorable conditions for biopharmaceutical companies, which typically face long R&D cycles and high capital consumption [4]
医药生物企业赴港IPO热度持续升温 长春高新启动H股上市筹备