KEXING BIOPHARM CO.(SH:688136) Zhi Tong Cai Jing·2025-11-06 13:00Company Overview - Sinovac Biotech Ltd. (科兴生物制药股份有限公司) has submitted an application for listing on the Hong Kong Stock Exchange, with CITIC Securities International as the sole sponsor [1] - The company is an innovation-driven biopharmaceutical firm focusing on the research, production, and commercialization of recombinant proteins, antibodies, and targeted delivery therapies, particularly in oncology and autoimmune diseases [4] Product Portfolio - Sinovac's leading products include SINOGEN (人干扰素α1b注射液), EPOSINO (人促红素注射液), and WHITE-C (人粒细胞集落刺激因子注射液), which hold significant market shares in their respective segments [5] - SINOGEN is projected to capture approximately 55.2% of the short-acting interferon α1b market in China by 2024, maintaining its position as the top product for six consecutive years [5] - EPOSINO is expected to hold about 16.7% of the erythropoietin market in China by 2024, ranking second for four years [5] Financial Performance - Revenue from key products for the years 2022, 2023, and 2024 is reported as approximately RMB 1.314 billion, RMB 1.254 billion, and RMB 1.392 billion, respectively [7] - The company achieved total revenues of approximately RMB 1.316 billion, RMB 1.259 billion, and RMB 1.407 billion for the fiscal years 2022, 2023, and 2024, respectively [8] - Net profit figures for the same periods were reported as losses of RMB 92.82 million in 2022, RMB 195.49 million in 2023, and a profit of RMB 27.05 million in 2024 [9] Market Overview - The global pharmaceutical market is projected to grow from USD 1.324 trillion in 2019 to USD 1.671 trillion by 2024, with a compound annual growth rate (CAGR) of 3.8% expected until 2030 [14] - China's pharmaceutical market is also on the rise, expected to grow from RMB 1.633 trillion in 2019 to RMB 1.828 trillion by 2024, with a forecasted revenue of RMB 2.624 trillion by 2030 [14] - The global market for innovative biopharmaceuticals is anticipated to reach USD 695.5 billion by 2030, with a CAGR of 8.4% from 2024 to 2030 [16]