Core Viewpoint - The approval of the listing application for Isavuconazole capsules marks a significant milestone for the company in the antifungal treatment sector, expected to provide effective and safe treatment options for patients with invasive fungal infections by the second half of 2026 [1][2]. Group 1: Product Development and Market Position - Isavuconazole is a new triazole antifungal drug with broad-spectrum antibacterial activity, working by inhibiting the synthesis of ergosterol in fungal cell membranes [1]. - The launch of Isavuconazole capsules will create a synergistic effect with the existing product Voriconazole, further solidifying the company's leadership position in the antifungal market [1]. - The company has established a customized production line for Isavuconazole, ensuring high-quality production and stable supply, which provides a competitive advantage [2]. Group 2: Market Growth and Strategic Planning - The global antifungal drug market is expected to grow significantly, with the Chinese market projected to reach approximately 30 billion RMB by 2030, reflecting a compound annual growth rate of over 10% [2]. - The launch of Isavuconazole capsules will enrich the company's product pipeline and contribute to sales growth, aligning with the increasing demand for innovative and effective therapies [2]. - The company has also received approval for its ophthalmic drug, Diquafosol Sodium Eye Drops, enhancing its ophthalmic product line and providing diverse treatment options for dry eye patients [3].

Core Viewpoint - Jingze Biopharma is preparing for an IPO, focusing on high-growth areas of assisted reproduction and ophthalmic drugs, with a pre-IPO valuation of 3.09 billion RMB after completing multiple funding rounds [1][2]. Company Overview - Jingze Biopharma specializes in assisted reproduction and ophthalmic drugs, having developed a comprehensive R&D system and commercial-scale production capabilities [2]. - The company has eight candidate drugs, with its first core product expected to generate revenue by 2026 [2][7]. Product Pipeline - The core product JZB30, a recombinant human follicle-stimulating hormone (rhFSH) lyophilized injection, is crucial in assisted reproduction and has received NDA approval [4][7]. - Another key product, JZB05, is an anti-VEGF intravitreal injection aimed at treating wet age-related macular degeneration (wAMD) and diabetic macular edema (DME), with expectations for commercialization by 2026 [5][6]. Market Potential - The assisted reproduction market is expanding due to relaxed fertility policies, with an estimated 59.2 million couples affected by infertility in China by 2024, projected to grow to 68.4 million by 2030 [8]. - The ophthalmic drug market is also growing, with a projected increase from 29.5 billion RMB in 2024 to 53.7 billion RMB by 2030, driven by rising rates of blindness-related eye diseases [12][13]. Financial Outlook - Jingze Biopharma is currently not profitable, with projected losses of 246 million RMB and 243 million RMB for 2023 and 2024, respectively [7]. - The company anticipates revenue generation starting in 2026 with the commercialization of JZB30, while R&D costs will continue to be a significant expense [7].

Core Viewpoint - Jingze Biopharmaceutical (Hefei) Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC and Guoyuan International as joint sponsors [1] Company Overview - Jingze Biopharmaceutical focuses on high-growth sectors of assisted reproductive drugs and ophthalmic drugs, establishing a comprehensive R&D system and commercial-scale production capabilities [4] - The company has developed multiple product pipelines and advanced several high-tech barrier drugs to late clinical and commercialization stages [4] - As of June 20, 2025, Jingze is one of the leading companies in China for clinical-stage macromolecular drugs in the fields of assisted reproduction and ophthalmology [4] Product Pipeline - The company has a rich product pipeline with eight candidate drugs, three of which are in late-stage development, including one that has received NDA approval and another that has submitted NDA [5] - JZB30, the first commercialized product in assisted reproduction, is a recombinant human follicle-stimulating hormone (rhFSH) lyophilized powder injection, targeting the global ovulation induction market [5][6] - JZB05, an anti-VEGF intravitreal injection, is expected to be the first commercialized product in the ophthalmic field, with ongoing Phase III clinical trials [6] Financial Overview - Research and development expenses for 2023 and 2024 are approximately RMB 122.2 million and RMB 133.3 million, respectively [6] - The total loss for the years 2023 and 2024 is approximately RMB 246.2 million and RMB 242.7 million, respectively [7] - Other income and gains for 2023 and 2024 are RMB 9.8 million and RMB 12.4 million, respectively [7]