HISUN(SH:600267) Shang Hai Zheng Quan Bao·2026-01-06 17:29Core Viewpoint - Zhejiang Haizheng Pharmaceutical Co., Ltd. announced that its subsidiary, Zhejiang Borui Biopharmaceutical Co., Ltd., has submitted an application for an initial public offering (IPO) of H-shares to the Hong Kong Stock Exchange on January 6, 2026 [1][2]. Group 1: Company Overview - Borui Biopharmaceutical is a leading biopharmaceutical company in China focused on immunotherapy, with integrated capabilities in research, production, and sales [2]. - The company aims to provide comprehensive immunotherapy solutions for patients with autoimmune diseases, inflammatory diseases, tumor immunology diseases, and malignancies caused by immune system disorders [2]. - Borui Biopharmaceutical has established a competitive portfolio of immunotherapy products, including eight commercialized products and several innovative drug candidates in development [2]. Group 2: Market Position - According to Frost & Sullivan, Borui Biopharmaceutical has ranked first in market share in the biopharmaceutical sector for autoimmune diseases in China based on sales revenue for two consecutive years starting in 2023 [2]. - The company holds a 39.62% stake in Borui Biopharmaceutical as of the date of the announcement [2]. Group 3: Regulatory Approval - The IPO application is subject to approval from the China Securities Regulatory Commission, the Hong Kong Securities and Futures Commission, and the Hong Kong Stock Exchange, indicating that there is uncertainty regarding the outcome [3]. - The application materials submitted are in draft form and may be updated or changed as required by regulatory authorities [2][3].