百利天恒港股IPO延迟！

Core Viewpoint - Bailitianheng has decided to postpone its H-share global offering and listing due to current market conditions, despite previously announcing plans for an IPO on June 21, 2024 [2][4]. Group 1: IPO Details - The company planned to issue a total of 8.6343 million H-shares, with 863,500 shares allocated for the Hong Kong market and 7.7708 million shares for the international market, at a maximum price of HKD 389 per share [8]. - All public offering application funds will be fully refunded, with the refund process expected to be completed by November 17 [8]. Group 2: Financial Performance - For the first three quarters of 2025, Bailitianheng reported a revenue of CNY 2.066 billion, a year-on-year decrease of 63.52%, and a net profit attributable to shareholders of -CNY 495 million, down 112.16% [14][16]. - The decline in net profit is attributed to a decrease in revenue and an increase in R&D expenses [16]. Group 3: Business Outlook - The decision to delay the global offering will not affect the company's current business operations or future development plans [13]. - Bailitianheng aims to accelerate the clinical development of its biological drug candidates in global markets outside of mainland China, including initiating multiple clinical trials in the United States [14].