上海生生转战港股IPO：估值40亿元，高瓴君联钟鼎位列股东

Core Viewpoint - Shanghai Shengsheng Pharmaceutical Cold Chain Technology Co., Ltd. has submitted its IPO prospectus to the Hong Kong Stock Exchange, aiming to leverage its position as a leading provider of temperature-controlled supply chain services in the pharmaceutical and life sciences industry [2]. Financial Performance - The company reported revenues of RMB 614.2 million and RMB 654.5 million for the years 2023 and 2024, respectively, with net profits of RMB 92.03 million and RMB 26.4 million for the same periods [3]. - For the first three quarters of 2025, the company achieved revenues of RMB 538.7 million, representing a year-on-year growth of 10.97%, and a net profit of RMB 113 million, reflecting a significant increase of 68.6% [2][3]. Market Position - According to a report by Frost & Sullivan, the company is ranked as the number one provider of temperature-controlled supply chain services in China and is the only Chinese company among the top ten global providers of clinical trial temperature-controlled supply chain services [2]. Investment and Valuation - Since its establishment, the company has completed multiple rounds of financing, with investors including Hillhouse Capital, Junlian Capital, and Zhongding Capital. Following the latest financing round, the company's valuation reached RMB 4 billion [3][4]. Shareholding Structure - Prior to the IPO, Zhongding Capital held a total of 13.55% of shares, while Junlian Capital held 12.35%, and Hillhouse Capital held 8.22% [4][5][6]. Previous IPO Attempt - The company previously attempted to list on the A-share market, with its application accepted on June 30, 2023, but the IPO was terminated in June 2024 due to withdrawal by the company and its sponsors. It is now pursuing an IPO in Hong Kong [6].