Group 1 - The company, Shiyao Innovation, has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities as its sole sponsor [1] - The company focuses on innovative therapies targeting unmet clinical needs in significant disease areas such as oncology, autoimmune diseases, and infectious diseases [1] - The company plans to commercialize two antibody drugs in the second half of 2024, including a first-class innovative drug and a biosimilar [1] Group 2 - Since its establishment in 2006, the company has specialized in the research and production of high-quality caffeine, becoming the largest producer of chemically synthesized caffeine globally [1] - The company expanded its main business into the health food sector in 2016, launching a comprehensive range of health food products, with its trademark recognized as a famous Chinese brand [2] - The global and Chinese pharmaceutical markets are experiencing significant growth, with the ADC market in China expected to expand from RMB 3.9 billion in 2024 to RMB 158.6 billion by 2035 [2]

Core Viewpoint - InnoCare Pharma-B (09606) is planning to list on the STAR Market, pending market conditions and further approvals from the board and shareholders, following a successful IPO on the Hong Kong Stock Exchange that raised over HKD 1.5 billion [1] Group 1: Company Developments - InnoCare Pharma's stock price increased by 5% in early trading, reaching HKD 345.6 with a trading volume of HKD 599 million [1] - The company was listed on the Hong Kong Stock Exchange on April 15, raising over HKD 1.5 billion, marking it as one of the largest IPOs in the Hong Kong 18A sector in the past four years [1] - The stock price peaked at HKD 563.5 in September, reflecting a maximum increase of 495.67% from the IPO price of HKD 94.6 per share [1] Group 2: Industry Insights - According to a report by CICC, the global ADC market is projected to reach approximately USD 10.4 billion in 2023 and is expected to grow to USD 115.1 billion by 2032 [1] - InnoCare Pharma plans to submit applications for its DB-1303 (HER2 ADC) for endometrial cancer in the U.S. and for breast cancer in China by 2025 [1] - The company’s DB-1311 (B7-H3 ADC) shows potential as a best-in-class candidate for prostate cancer, while DB-1310 (HER3 ADC) is expected to follow suit; DB-1305 (TROP2 ADC) and dual antibody explorations are leading globally in next-generation ADC research [1]