Venture(US:VEMLY) Guo Ji Jin Rong Bao·2025-08-15 12:24Core Viewpoint - Fujian Haixi New Drug Creation Co., Ltd. (referred to as "Haixi New Drug") has submitted its prospectus for a public listing on the Hong Kong Stock Exchange, marking its second attempt after an initial failure in January 2023 [1] Group 1: Company Background - Haixi New Drug was co-founded in 2012 by Kang Xinshan and his spouse Feng Yan, with support from state-owned shareholders [3] - Kang Xinshan holds a 18.97% stake, while Feng Yan owns 14.76%, making them the controlling shareholders alongside employee stock ownership platforms [3][4] Group 2: Financial Performance - The company has achieved a remarkable compound annual growth rate (CAGR) of 48.4% in revenue over the past three years, with net profit CAGR reaching 40.4% [5][6] - Revenue figures for the years 2022 to 2024 are reported as 212 million, 317 million, and 467 million, with net profits of 69 million, 117 million, and 136 million respectively [6] Group 3: Product Pipeline and R&D - Haixi New Drug has a diversified product portfolio, including 14 approved generic drugs and five drugs in the ANDA stage, targeting various diseases [5][6] - The company has established a pipeline of four innovative drugs and holds a global patent portfolio of 36 patents [6] Group 4: Manufacturing and Future Plans - The company is constructing its own manufacturing facility in Fuzhou, with a total area of approximately 90,000 square meters and a designed annual production capacity of 2 billion oral solid dosage forms [6] - The funds raised from the IPO will be allocated to R&D investments, enhancing commercialization capabilities, and optimizing production systems [7]