GDHEC CO.,LTD(SH:600673) Zhong Guo Zheng Quan Bao·2025-08-04 22:33Core Viewpoint - Dongyangguang Pharmaceutical is set to debut on the Hong Kong Stock Exchange as the first H-share absorption merger and introduction listing case, marking a significant milestone in the company's 20-year journey in innovative drug development and a crucial step for domestic innovative pharmaceutical companies in asset securitization and internationalization [1][2]. Group 1: Company Background and Innovation - Founded in 2003 by Zhang Zhongneng, Dongyangguang Pharmaceutical has maintained a core focus on independent innovation since its inception, establishing a research institute in 2005 [2]. - The company has developed its first innovative drug, a treatment for chronic hepatitis C, which was approved for market in 2020, showcasing its commitment to overcoming significant challenges in drug development [2]. - Dongyangguang Pharmaceutical has accumulated a robust pipeline of 49 innovative drugs in development, with 3 already approved and 10 in clinical phases II and III, indicating strong potential for future growth [3][4]. Group 2: Research and Development Capabilities - The company has established a diverse research and development platform, covering various drug types and advanced technologies, including small molecules, small nucleic acids, and CAR-T therapies [3][4]. - Dongyangguang Pharmaceutical has over 2,500 invention patents and has received numerous awards, including the National Key Laboratory for Anti-Infective Drug Research, highlighting its strong innovation credentials [5]. Group 3: Internationalization Strategy - The company is accelerating its internationalization strategy, having established a comprehensive R&D, production, registration, and commercialization capability, with a focus on both domestic and international markets [6][7]. - Dongyangguang Pharmaceutical has received regulatory approvals for 68 drugs in Europe and the U.S., positioning it among the leading Chinese pharmaceutical companies in terms of approval numbers [7]. - The company has signed a licensing agreement with UK-based Apollo for the exclusive development and commercialization rights of its innovative drug HEC88473 outside Greater China, with a transaction value nearing $1 billion [7]. Group 4: Future Outlook - The listing on the Hong Kong Stock Exchange is seen as a new starting point for Dongyangguang Pharmaceutical, which aims to leverage international capital markets to further its global reach and enhance its competitive edge [8][10]. - The company is committed to continuing its dual strategy of innovation and internationalization, with plans to accelerate the commercialization of its innovative drugs and expand its global footprint [9][10].