Core Viewpoint - Huazhong Biopharmaceutical Co., Ltd. (2396.HK) experienced a decline on its first day of trading, with shares dropping nearly 19% to HKD 31, resulting in a market capitalization of HKD 3.65 billion, despite an IPO pricing of HKD 38.2 and significant oversubscription in both public and international offerings [1] Company Overview - Established in 2012, Huazhong Biopharmaceutical is a China-based biopharmaceutical company focused on developing therapies, particularly protein drugs targeting medical needs and market opportunities [1] - The company's primary focus is on discovering, developing, and commercializing therapies for wound healing, currently centered around PDGF drugs [1] Financial Performance - For the fiscal years 2023 and 2024, as well as the first nine months of 2025, Huazhong Biopharmaceutical reported revenues of HKD 472,000, HKD 261,000, and HKD 0 respectively [1] - The company incurred losses of HKD 105 million, HKD 212 million, and HKD 134 million during the same periods, indicating no revenue or profit in the first three quarters of the current year [1]
港股异动丨首日上市破发！华芢生物大跌近19%，今年前三季度无营收无盈利