Core Viewpoint - Changfeng Pharmaceutical Co., Ltd. officially listed on the Hong Kong Stock Exchange on October 8, raising approximately HKD 525 million through the issuance of 41.198 million H-shares at a price of HKD 14.75 per share [1] Group 1: Company Overview - Founded in 2007, Changfeng Pharmaceutical specializes in the research, production, and sales of high-end inhalation formulations for respiratory diseases, with a registered capital of CNY 371 million and around 600 employees [1] - The company focuses on developing treatments for significant clinical needs, including rhinitis, asthma, chronic obstructive pulmonary disease, pulmonary fibrosis, and pulmonary hypertension [1] - Changfeng has been recognized as a "potential unicorn" enterprise in Jiangsu Province and has a pipeline of over 30 products in research, with more than 10 in clinical stages [1] Group 2: Product Highlights - The launch of the combination spray of Nitrosustine and Fluticasone fills a clinical gap for moderate to severe allergic rhinitis in China [2] - The inhalation suspension of Budesonide has broken the monopoly of international pharmaceutical giants in the domestic market, serving over 50 million patients and covering more than 10,000 medical institutions in China, saving the healthcare system billions [2] Group 3: Capital and Service Support - The listing of Changfeng Pharmaceutical is seen as a successful practice of cross-regional industrial collaboration in the Su-Xiang Cooperation Zone, which integrates advantages from Suzhou Industrial Park and Xiangcheng District [2][3] - The company received early-stage investment from the Suzhou Industrial Park Venture Capital Co., Ltd. in 2013, facilitating its relocation to the cooperation zone and promoting simultaneous capital and industrial development [2] - The cooperation zone has implemented tailored industrial policies and provided comprehensive support for Changfeng, aiding its transition from establishment to listing [3]