成都将再添一家港股上市企业

Core Viewpoint - Bailitianheng has successfully passed the listing hearing on the Hong Kong Stock Exchange, marking a significant step towards its IPO, which will increase the number of listed companies from Chengdu to 28 [1][5]. Company Developments - Bailitianheng is recognized as a leading domestic innovative drug company, with notable achievements in the field of innovative drug development and international expansion [4]. - The company announced that its self-developed innovative biological drug, BL-M24D1 (ADC), has received approval for clinical trials from the National Medical Products Administration [4]. - Bailitianheng has launched a fundraising plan to raise 3.764 billion yuan, which will be entirely allocated to the development of innovative drugs, particularly to accelerate clinical trials for core ADC products [4]. Financial Partnerships - In December 2023, Bailitianheng entered into a collaboration agreement with Bristol-Myers Squibb (BMS) for the dual-target ADC drug BL-B01D1, with a potential total transaction value of $8.3 billion, including an upfront payment of $800 million [6]. - The company is expected to receive milestone payments from BMS, which could total $1.05 billion (approximately 7.5 billion yuan) if all conditions are met [6]. Industry Trends - The trend of companies from Chengdu seeking listings in Hong Kong reflects a strong momentum for local enterprises to expand into international capital markets [8]. - As of now, Chengdu has 122 A-share listed companies, 27 listed in Hong Kong, and 5 in the US, with the total number of listed companies expected to reach 154 following Bailitianheng's IPO [8].