Core Viewpoint - An innovative biopharmaceutical company, Beijing Anshi Biotechnology Co., Ltd. (Anshi Bio), has received acceptance for its IPO application on the Sci-Tech Innovation Board, aiming to raise 2.45 billion yuan for its operations and new drug development [1][3]. Group 1: Company Overview - Anshi Bio is focused on developing innovative anti-tumor drugs to address significant unmet clinical needs, with its main product, Wanbi Rui (Bertinib), already commercialized [1]. - The company has a pipeline that includes Wanbi Rui, which has been approved for sale, and other drugs like Andai Aitini, currently under review, and ANS01 and ANS03, which are in clinical trials [1]. Group 2: Financial Performance - Anshi Bio reported no revenue prior to the approval of Bertinib, indicating a history of operating losses [2]. - Financial data shows revenues of approximately 0, 12.96 million yuan, 71.66 million yuan, and 64.04 million yuan for the years 2022 to 2025 (Q1), with corresponding net losses of about -163.68 million yuan, -282.72 million yuan, -478.71 million yuan, and -91.65 million yuan [2]. Group 3: IPO and Fund Utilization - The company plans to use the 2.45 billion yuan raised from the IPO for new drug research and development (1.95 billion yuan) and to supplement working capital (500 million yuan) [4]. - The acceptance of Anshi Bio's IPO application under the fifth set of listing standards indicates ongoing support from the capital market for innovative drug companies [3]. Group 4: Goodwill and Risks - Anshi Bio has recorded significant goodwill of 927 million yuan following the acquisition of Beijing Purun Ao, which is responsible for the development of Bertinib [4]. - The company has acknowledged potential risks related to goodwill impairment due to changes in the operational performance of Beijing Purun Ao or adverse external factors [4].

Core Viewpoint - Beijing Anshi Biotechnology Co., Ltd. has successfully submitted its IPO application to the Sci-Tech Innovation Board, aiming to raise 2.45 billion yuan for new drug development and operational funding [1][10] Company Overview - Anshi Biotechnology is an innovative biopharmaceutical company focused on addressing significant unmet clinical needs in oncology, with its main product, Wanbi Rui (Bertinib), already commercialized [6] - The company has a drug pipeline that includes Bertinib, which has been approved for multiple indications, and other candidates in various stages of clinical research [6][8] Financial Performance - Anshi Biotechnology has not yet achieved profitability, with reported revenues of approximately 0, 12.96 million yuan, 71.66 million yuan, and 64.04 million yuan for the years 2022 to 2025 Q1, respectively [8] - The company has incurred significant net losses, amounting to approximately -163.68 million yuan, -282.72 million yuan, -478.71 million yuan, and -91.65 million yuan for the same periods [8] Goodwill and Acquisitions - The company reported a substantial goodwill of 927 million yuan, which constitutes 56.64% of its total assets, primarily due to the acquisition of Beijing Purunao [1][9] - The acquisition of Beijing Purunao, which is responsible for the development of Bertinib, has raised concerns regarding potential goodwill impairment if the subsidiary's performance deteriorates [9] IPO Details - The IPO application was accepted on September 26, 2023, under the fifth set of listing standards of the Sci-Tech Innovation Board, indicating ongoing support for innovative pharmaceutical companies in the capital market [6][7] - The funds raised from the IPO will be allocated to new drug research and operational funding, with 1.95 billion yuan and 500 million yuan designated for each purpose, respectively [10]

Core Viewpoint - Beijing Anshi Biotechnology Co., Ltd. has received acceptance for its IPO application on the Sci-Tech Innovation Board, aiming to raise 2.45 billion yuan [1][2]. Company Overview - The company focuses on innovative anti-tumor drugs to address significant unmet clinical needs and is transitioning into a comprehensive innovative pharmaceutical enterprise [2][3]. - Anshi Biotechnology is currently unprofitable and is listed under the non-profitable standard [2]. Financial Performance - As of the signing date of the prospectus, the company has only one main product, Wanbi Rui (Bertinib), approved for sale in China, which is still in the early commercialization stage [3]. - The company reported a cumulative unabsorbed loss of 782 million yuan as of the end of the reporting period [4]. - Revenue has shown rapid growth, increasing from 12.96 million yuan in 2023 to 71.66 million yuan in 2024, with Q1 2025 revenue at 64.04 million yuan, nearly five times the 2023 total [4]. Research and Development - R&D expenses have been increasing annually, with figures of 145 million yuan, 184 million yuan, 327 million yuan, and 76.65 million yuan over the reporting period [7]. - The R&D expense ratio is significantly higher than the industry average, indicating substantial investment in drug development [7]. Cash Flow and Financial Health - The company has consistently reported negative cash flow from operating activities, relying heavily on external financing [8]. - As of March 2025, the company had a cash balance of 529 million yuan, with 1.95 billion yuan of the IPO proceeds earmarked for new drug development [8]. Goodwill and Risks - The company has a goodwill amounting to 927 million yuan, which constitutes a significant portion of its non-current assets, raising concerns about potential impairment risks [8][9]. - The actual controller, Shi He Peng, holds 23.81% of the voting rights and is subject to a share repurchase obligation if the IPO is not completed within 36 months [9].

Core Viewpoint - Ansh Biotechnology Co., Ltd. has received acceptance for its IPO on the Sci-Tech Innovation Board, aiming to raise 2.45 billion yuan, focusing on innovative anti-tumor drugs to meet significant unmet clinical needs [1] Company Overview - Ansh Biotechnology is an innovative biopharmaceutical company that has entered the commercialization stage, specializing in diseases like cancer with high unmet clinical needs [1] - The company aims to enhance the quality of life for patients through efficient self-research and development of high-quality innovative anti-tumor drugs [1] Financial Performance - The financial data for Ansh Biotechnology shows the following projected revenues and net profits: - 2022: Revenue of approximately 0 million yuan, net profit of -163.68 million yuan - 2023: Revenue of approximately 12.96 million yuan, net profit of -282.72 million yuan - 2024: Revenue of approximately 71.66 million yuan, net profit of -478.71 million yuan - Q1 2025: Revenue of approximately 64.04 million yuan, net profit of -91.65 million yuan [1] Product Development - As of the signing date of the prospectus, Ansh Biotechnology's main product, Wanbi Rui (Bertinib), has received approval for three indications in China - The company has also successfully submitted a new drug application for Andai Aitini and has been granted priority review and approval status [1]

Core Viewpoint - Ansh Biotechnology Co., Ltd. has received acceptance for its IPO on the Sci-Tech Innovation Board, aiming to raise 2.45 billion yuan for its innovative biopharmaceuticals focused on unmet clinical needs in oncology [1] Company Overview - Ansh Biotechnology is an innovative biopharmaceutical company that has entered the commercialization stage, focusing on high-quality innovative anti-tumor drugs to improve patients' quality of life [1] - The company has chosen to apply for listing under the criteria specified in Article 2.1.2 (5) of the Sci-Tech Innovation Board listing rules [1] Financial Performance - The financial data for Ansh Biotechnology shows the following projected revenues and net profits: - 2022: Revenue of approximately 0 million yuan, net profit of approximately -163.68 million yuan - 2023: Revenue of approximately 12.96 million yuan, net profit of approximately -282.72 million yuan - 2024: Revenue of approximately 71.66 million yuan, net profit of approximately -478.71 million yuan - Q1 2025: Revenue of approximately 64.04 million yuan, net profit of approximately -9.17 million yuan [1] Product Development - As of the date of the prospectus, Ansh Biotechnology's main product, Wanbi Rui (Bertinib), has received approval for three indications in China, while another product, Andai Aitini, has successfully submitted a new drug application and has been granted priority review status [1]