Core Viewpoint - Baijia Pharmaceutical successfully completed a new share issuance of approximately HKD 1 billion, attracting significant market attention with a subscription rate of 6.59 times for international placements and 3526.34 times for public offerings in Hong Kong, indicating strong market participation [1] Group 1: Company Overview - Baijia Pharmaceutical is a biotechnology company in the clinical and commercialization stages, focusing on developing and providing recombinant biopharmaceuticals in China using synthetic biology technology [1][2] - The company is entering four independent and high-value therapeutic markets, including large-volume subcutaneous administration, antibody-mediated autoimmune diseases, assisted reproductive drugs, and transformative products replacing traditional biochemical products [2] Group 2: Product Pipeline - Baijia Pharmaceutical's core products include KJ017, the first recombinant hyaluronidase in China for large-volume subcutaneous administration; KJ103, a global first with "best-in-class" potential for low pre-stored antibodies; and SJ02, a long-acting follicle-stimulating hormone drug for assisted reproduction [2] - These products are in various stages of commercialization, new drug application registration, or late clinical phases, indicating a transition from pure research to commercialization [2] Group 3: Financial Performance - The company reported revenues of RMB 6.93 million, RMB 6.16 million, and RMB 41.99 million for the six months ending June 30 in 2023, 2024, and 2025, respectively, showcasing strong revenue growth potential [2] - Corresponding gross profits were RMB 6.78 million, RMB 5.02 million, and RMB 41.73 million, reflecting good profitability [2] - As of June 30, 2025, the company had cash and cash equivalents of RMB 453 million, indicating a strong cash reserve [2] Group 4: Use of Proceeds - The funds raised from the IPO will be allocated to the R&D and commercialization of core products, advancing existing pipeline products, optimizing proprietary synthetic biology technology, enhancing production capacity, and general corporate purposes [3] Group 5: Market Outlook - Baijia Pharmaceutical's steady revenue growth, reasonable valuation, and expanding market space are expected to translate into tangible performance returns over time [3]
新股消息 | 宝济药业-B(02659)IPO受追捧：国际配售获6.59倍认购 长线资本坚定入驻