劲方医药通过港交所聆讯 报告期内持续亏损

Core Viewpoint - Jinfang Pharmaceutical Technology (Shanghai) Co., Ltd. has passed the listing hearing on the Hong Kong Stock Exchange, with CITIC Securities as its sole sponsor [1]. Company Overview - Jinfang Pharmaceutical is a biopharmaceutical company focused on developing new treatment solutions for tumors, autoimmune diseases, and inflammatory diseases. As of August 18, 2025, the company has established a product pipeline that includes eight candidate drugs, five of which are in clinical development [3]. - The company’s core products include GFH925, a selective KRAS G12C inhibitor approved for the treatment of advanced non-small cell lung cancer (NSCLC) in China, and GFH375, an oral small molecule inhibitor targeting KRAS G12D mutations, which are prevalent in various cancer types [3]. Intellectual Property - The company holds 72 authorized patents and has 117 patent applications, including eight PCT applications. It has authorized patents related to GFH925 in China, the United States, the European Union, and other jurisdictions [4]. Financial Performance - For the fiscal years ending December 31, 2023, 2024, and the four months ending April 30, 2025, the company reported revenues of approximately RMB 73.73 million, RMB 105 million, and RMB 82.15 million, respectively. The losses for the same periods were approximately RMB 508.32 million, RMB 677.64 million, and RMB 66.62 million [5][6][9]. - The gross profit for the fiscal year 2023 was RMB 73.05 million, with other income and gains reported at RMB 39.96 million. Research and development costs were RMB 312.74 million, and administrative expenses were RMB 49.95 million [9].