海西新药(02637)拟全球发售1150万股 预计10月17日上市

Core Viewpoint - HaiXi New Drug (02637) is planning a global offering of 11.5 million shares with a price range of HKD 69.88 to 86.40 per share, aiming to raise approximately HKD 848 million for various strategic investments [1][3] Company Overview - The company is a commercial-stage pharmaceutical firm with integrated R&D, manufacturing, and sales capabilities, focusing on innovative drug pipelines [1] - It has a diversified product portfolio in China's largest and fastest-growing therapeutic areas, including gastrointestinal, cardiovascular, endocrine, neurological, and inflammatory diseases, which collectively account for over 25% of China's pharmaceutical sales in 2023 [1][2] Product Pipeline - The company has received approval for 15 generic drugs from the National Medical Products Administration and has established a pipeline of four innovative drugs [2] - The innovative drug pipeline includes a potential first-in-class oncology drug, an oral drug for treating wAMD/DME/RVO, and two additional drugs in preclinical stages targeting oncology and respiratory diseases [1][2] Financial Performance - The company's revenues for the years 2022, 2023, 2024, and the five months ending May 31, 2025, were RMB 212.5 million, 316.6 million, 466.7 million, and 249.2 million, respectively [2] - Gross profits for the same periods were RMB 172.1 million, 263.6 million, 387.2 million, and 209.3 million [2] Use of Proceeds - Approximately 52% of the net proceeds from the global offering will be allocated to ongoing R&D investments to advance the drug pipeline [3] - About 23% will enhance R&D capabilities and seek collaboration opportunities, while 8% will improve commercialization capabilities and market influence [3] - The remaining proceeds will be used for optimizing R&D and production systems (7%) and for working capital and general corporate purposes (10%) [3] Strategic Partnerships - The company plans to actively explore collaboration opportunities with multinational corporations to expand its international clinical research and commercialization capabilities [2]