狂飙158%！港股，又有新股首日大涨！

Core Viewpoint - The debut of Zhonghui Biotech on the Hong Kong stock market has set a record for the highest first-day gain of a new stock since 2025, with a closing increase of 157.98% on August 11 [1]. Group 1: Company Overview - Zhonghui Biotech, established in 2015, focuses on the research, manufacturing, and commercialization of innovative vaccines and traditional vaccines using new technologies [4]. - The company has two core products: a quadrivalent influenza virus subunit vaccine approved for individuals aged three and above, and a lyophilized human rabies vaccine under development [4][7]. - Zhonghui Biotech has 11 other vaccines in the pipeline, targeting various diseases with significant vaccination demand [4]. Group 2: IPO Performance - The IPO of Zhonghui Biotech was highly successful, with over 4000 times oversubscription and a total subscription amount exceeding 200 billion HKD, making it the "super subscription king" of the Hong Kong biotech sector this year [4][5]. - The public offering in Hong Kong accounted for only 11.95% of the total shares available, with the remaining 88.05% allocated to international institutional investors [4][6]. Group 3: Financial Performance - Zhonghui Biotech has not yet achieved profitability and continues to invest heavily in research and development [7]. - The projected revenues for 2023, 2024, and the first quarter of 2025 are 52 million RMB, 260 million RMB, and 413,000 RMB, respectively, with corresponding net losses of 425 million RMB, 259 million RMB, and 87 million RMB [7][8]. - The company’s core product, the quadrivalent influenza virus subunit vaccine, is the first and only one approved in China, which may lead to higher costs for market acceptance [8]. Group 4: Investment and Valuation - Zhonghui Biotech has completed three rounds of financing, raising nearly 1 billion RMB, with its valuation increasing from 746 million RMB to 4.189 billion RMB [12][16]. - The current market capitalization of Zhonghui Biotech exceeds 13 billion RMB, with early investors, such as Gaotejia, seeing significant returns on their investments [16].