Group 1: Company Overview - Company name:劲方医药-B, established in 2017, focuses on innovative drug development for oncology, autoimmune, and inflammatory diseases [8][10] - The company has a product pipeline consisting of 8 candidate products, with 5 in clinical development, including core products GFH925 and GFH375 [10][12] - GFH925 is the first KRAS G12C inhibitor approved for commercialization in China, while GFH375 is a KRAS G12D inhibitor currently in clinical trials [12][16] Group 2: IPO Details - The IPO is scheduled from September 11 to September 16, with a listing date on September 19, at a price of HKD 20.39 per share [3][4] - The total fundraising amount is HKD 15.82 billion, with a total issuance of 77,600,000 shares, of which 10% is for public offering and 90% for international placement [3][4] - The company has a strong cornerstone investor base, with 9 investors committing USD 100 million, accounting for 49.27% of the total issuance [5] Group 3: Financial Performance - Revenue for 2023, 2024, and the first four months of 2025 is projected at RMB 73.74 million, RMB 104.70 million, and RMB 82.15 million respectively [18][22] - The company has been operating at a loss, with net profits of -RMB 508.32 million, -RMB 677.64 million, and -RMB 66.62 million for the respective periods [19][22] - As of April 30, 2025, the company has cash reserves of RMB 391 million [21] Group 4: Market and Competitive Landscape - The global KRAS G12C inhibitor market is expected to grow from USD 489 million in 2024 to USD 3.491 billion by 2033, with a compound annual growth rate of 24.4% [13][16] - The competitive landscape includes several approved KRAS G12C inhibitors, with GFH925 being the first in China and competing against products from major pharmaceutical companies [16] - The company aims to expand its product pipeline beyond RAS drugs, including candidates like GFS202A, a bispecific antibody targeting GDF15 and IL-6 [16][17]
劲方医药-B招股中，怎么看？