Chengdu Olymvax Biopharmaceuticals (SH:688319) IPO日报·2025-11-29 00:33Core Viewpoint - The article discusses the IPO application of Olin Biotech (688319.SH) for listing on the Hong Kong Stock Exchange, highlighting its commercialized products and market position in the vaccine sector [1][2][5]. Group 1: Company Overview - Olin Biotech is a biopharmaceutical company focusing on unmet medical needs in "super bacteria vaccines" and "adult vaccines" [5]. - The company has three commercialized products: Tetanus Toxoid Vaccine, Hib Conjugate Vaccine, and AC Conjugate Vaccine [5][6]. Group 2: Market Position and Financial Performance - Olin Biotech's Tetanus Toxoid Vaccine holds over 80% market share in China as of 2024 [2][6]. - Revenue projections for 2024 are estimated at 586 million yuan, with significant contributions from the Tetanus Toxoid Vaccine, which accounted for approximately 87.9% of total revenue in the first half of 2025 [10]. - The company reported revenues of 547 million yuan, 494 million yuan, and 586 million yuan for 2022, 2023, and 2024 respectively, with a notable fluctuation in annual profits [9]. Group 3: Sales Network and Growth - As of November 18, Olin Biotech's sales network covers 30 provinces and municipalities in China, with over 2,000 direct commercial relationships established with district and county-level disease control centers [6]. - The company has supplied its vaccines to approximately 8,100 vaccination points across the country, including around 2,400 general hospitals [6]. Group 4: Shareholding Structure - After its A-share listing, Shanghai Wushan became the largest shareholder of Olin Biotech, holding approximately 14.83% of the issued share capital [7].