转战港股 海纳医药再谋上市

Core Viewpoint - Nanjing Haina Pharmaceutical Technology Co., Ltd. (referred to as "Haina Pharmaceutical") is making another attempt to enter the capital market by submitting a listing application to the Hong Kong Stock Exchange (HKEX) after previously failing to go public on the ChiNext board and attempting a merger with Chengdu Xian Dao [1][6] Group 1: Company Overview - Haina Pharmaceutical is an integrated pharmaceutical research and manufacturing company that provides CXO services and has proprietary product pipelines primarily commercialized through technology transfer [1] - The company ranks second in China for the total number of approved clinical trials and market licenses during the reporting period [1] Group 2: Financial Performance - In the first half of this year, Haina Pharmaceutical experienced a decline in both revenue and net profit, with revenue of 178 million yuan and net profit of 22.08 million yuan, compared to 214 million yuan and 29.76 million yuan in the same period last year [3] - The company's cash flow from operating activities has been negative since last year, with net cash flow of approximately -34.57 million yuan in 2023 and -42.45 million yuan in the first half of this year [3] Group 3: Market Strategy - The funds raised from the HKEX listing are intended to support R&D activities, expand production capacity, enhance quality control, and for general corporate purposes [2] - The HKEX is seen as a favorable platform for Haina Pharmaceutical due to its market inclusivity, international investor base, and standardized approval processes [2] Group 4: Challenges and Future Directions - Haina Pharmaceutical needs to enhance its competitiveness by focusing on R&D innovation, optimizing cost control, diversifying its business, and improving cash flow management [4][5] - The company has made multiple attempts to enter the capital market, including a previous IPO application on the ChiNext board and a failed merger with Chengdu Xian Dao [6]