Zheng Quan Shi Bao Wang·2025-10-27 00:18Core Viewpoint - Jiangxi Biological has submitted a listing application to the Hong Kong Stock Exchange, with CICC and China Merchants Securities International as joint sponsors [1] Company Overview - Jiangxi Biological is the largest provider and exporter of human TAT (tetanus antitoxin) in China and one of the largest globally, holding a global market share of 36.6% and a domestic market share of 65.8% in 2024 [1] - The company possesses a comprehensive anti-serum platform that includes products such as human TAT, veterinary TAT, and equine chorionic gonadotropin (PMSG), with plans to expand into snake antivenom and rabies immunoglobulin products [1] - Jiangxi Biological has a global sales and distribution network covering over 23,500 medical institutions in China, including more than 1,500 tertiary medical institutions [1] Industry Insights - According to Frost & Sullivan, the global human anti-serum market has grown from USD 321 million in 2019 to USD 409 million in 2024, with a compound annual growth rate (CAGR) of 4.9% [1] - The market is projected to continue increasing to USD 821 million by 2028 and reach USD 2.095 billion by 2033 [1]