Summary of Key Points Core Viewpoint - Wuhan Heyuan Biotechnology Co., Ltd. is set to list its ordinary shares on the Shanghai Stock Exchange's Sci-Tech Innovation Board on October 28, 2025, despite not being profitable at the time of listing [1][2]. Group 1: Listing Overview - The company will be included in the Sci-Tech Growth Layer upon listing due to its current unprofitability [2]. - The total share capital after the IPO will be 357.5 million shares, with 89,451,354 shares being newly issued [3]. Group 2: Market Comparisons - The IPO price is set at 29.06 yuan per share, which corresponds to a diluted price-to-book ratio of 3.43 times for 2024, lower than the average for comparable companies in the industry [4]. Group 3: Trading Risks - The stock will have a price fluctuation limit of 20%, but there will be no limit on price changes for the first five trading days, leading to potential volatility [2][4]. - The initial number of freely tradable shares will be 40,978,773, accounting for 11.46% of the total share capital, which may result in liquidity risks due to a limited number of circulating shares [2].
武汉禾元生物科技股份有限公司 首次公开发行股票科创板上市公告书提示性公告