刚刚，福建夫妇IPO敲钟了

Core Viewpoint - Haixi New Drug officially listed on the Hong Kong Stock Exchange on October 20, 2023, with an issue price of HKD 86.4 per share, opening 18.06% higher on its first day, and achieving a market capitalization of HKD 8.5 billion [1][4]. Company Overview - Founded 13 years ago by a couple with strong academic backgrounds, Kang Xinshan and Feng Yan, who returned to Fujian to establish Haixi New Drug with support from local state-owned enterprises [1][2]. - The company has a dual-track business model focusing on both generic and innovative drug development, having successfully commercialized multiple products [5][4]. Financial Performance - Haixi New Drug reported revenues of RMB 212.5 million, RMB 316.6 million, RMB 466.7 million, and RMB 249.2 million for the years 2022, 2023, 2024, and the first five months of 2025, respectively [7][5]. - The company achieved profits of RMB 68.98 million, RMB 117.45 million, RMB 136.08 million, and RMB 90.21 million for the same periods [7][5]. Product Pipeline - The company has established a pipeline of four innovative drugs under development, targeting cancer, ophthalmology, and respiratory diseases, with one drug expected to be a breakthrough therapy for osteosarcoma [4][5]. Industry Context - The biopharmaceutical industry in Fujian has been strategically supported by government initiatives since 2009, aiming to cultivate a robust pharmaceutical sector [12][14]. - Fujian's biopharmaceutical industry is rapidly growing, with Xiamen and Fuzhou emerging as key hubs, and the province aims to achieve RMB 120 billion in pharmaceutical industrial revenue by 2025 [13][14].