广州必贝特医药股份有限公司首次公开发行股票科创板上市公告书提示性公告

Listing Overview - The company, Guangzhou Bibete Pharmaceutical Co., Ltd., will list its common stock on the Shanghai Stock Exchange's Sci-Tech Innovation Board on October 28, 2025, with the stock code 688759 [1][2] - The total share capital after this issuance will be 450.036657 million shares, with 90 million shares being publicly offered, accounting for 20% of the total share capital post-issuance [2] Financial Metrics - The offering price is set at 17.78 CNY per share, which corresponds to a diluted 2024 price-to-research ratio of 66.52 times, lower than the average level of comparable companies in the pharmaceutical manufacturing industry, which has a recent average static price-to-earnings ratio of 31.83 times [5] Share Liquidity - The initial number of freely tradable shares will be 46.461981 million, representing 10.32% of the total share capital post-issuance, indicating a potential liquidity risk due to a relatively low number of circulating shares [4][3] Market Conditions - The company has not yet achieved profitability and will be classified under the Sci-Tech Growth Layer upon listing, which may affect investor participation and trading dynamics [2][3]