Core Viewpoint - Chutian Technology's subsidiary, Chutian Paiter, has successfully completed factory acceptance testing for its peptide synthesis equipment, which is now being delivered to users, highlighting the company's focus on innovation in the peptide drug production sector [1] Group 1 - Chutian Paiter specializes in the research and production of peptide synthesis equipment, offering various scales including 20L systems [1] - The newly developed equipment features a modular design that complies with GMP safety standards, enhancing production efficiency and safety [1] - The equipment includes excellent corrosion resistance and automatic discharge functions, providing reliable solutions for peptide drug development and production [1]

Core Viewpoint - 泰德医药 plans to issue 16.8 million shares from June 20 to June 25, 2025, with a price range of HKD 28.4 to HKD 30.6 per share, aiming for listing on June 30, 2025 [1] Company Overview - 泰德医药 is the third largest global player in the peptide-focused CRDMO market, holding a market share of 1.5% as of 2023, providing full-cycle services from early discovery to commercial production [1][2] - The company primarily offers CRO services for peptide NCE discovery synthesis and CDMO services for peptide CMC development and commercial production [2] Market Position - The global peptide-focused CRDMO market is dominated by two major players with a combined market share of 23.8%, while the remaining participants, including 泰德医药, hold approximately 1% each [1] Client Relationships - 泰德医药 has established stable client relationships in over 50 countries, including major markets such as China, the US, Japan, Europe, South Korea, and Australia [2] Fundraising and Use of Proceeds - The estimated net proceeds from the global offering are approximately HKD 411 million, assuming a share price of HKD 29.50, with 76.4% allocated for facility expansion in the US and China [3] - 4.1% of the net proceeds will be used to expand capacity in China, while 9.5% will be for establishing sales and after-sales service networks in more regions [3] - 10.0% of the net proceeds will be allocated for working capital and other general corporate purposes [3] Cornerstone Investors - The company has signed cornerstone investment agreements, with cornerstone investors agreeing to subscribe for approximately 2.66 million shares, representing about 15.84% of the global offering [2]