AKESO(HK:09926) Jing Ji Guan Cha Wang·2025-08-28 06:21Group 1 - The core point of the news is that Kangfang Biopharma (09926.HK) is undergoing significant changes, including a share placement by its founders and plans to raise capital through new share issuance, amidst increasing operational costs and ongoing losses [1][2] Group 2 - On August 28, Kangfang Biopharma announced that its founders would reduce their holdings by selling 1.5 million shares, potentially raising nearly HKD 450 million at a price of HKD 149.54 per share [1] - The company plans to raise HKD 3.5 billion through the issuance of new shares, marking the highest frequency of refinancing among peers in the past two years [1] - As of June 30, 2025, Kangfang Biopharma had a cash balance of RMB 1.45 billion, short-term loans of RMB 510 million, and current liabilities of approximately RMB 2 billion [1] - The company reported a revenue of RMB 1.4 billion in the first half of 2025, a 33% increase year-on-year, primarily due to the sales of its core products being included in the national medical insurance directory [2] - Despite the revenue growth, Kangfang Biopharma is not yet profitable, with losses expanding from RMB 250 million in the first half of 2024 to RMB 590 million in the first half of 2025 [2] - The company has seven self-developed products approved for market, with 12 in Phase III clinical trials and another 12 in Phase I/II clinical research [2] - Kangfang Biopharma aims to become a leading global biopharmaceutical company by focusing on innovative drug development and expanding its commercial footprint [2]