Core Viewpoint - 德镁医药 has submitted a listing application to the Hong Kong Stock Exchange, planning to go public through an introduction method without involving financing [1] Company Overview - 德镁医药 is a leading Chinese company in skin health products, offering prescription medications and dermatological skincare products, focusing on comprehensive solutions for skin health [1] - The company was spun off from 康哲药业 in 2021 and ranks first in prescription drug revenue among innovative pharmaceutical companies in China for 2024, and fifth among all Chinese pharmaceutical companies [1] Product Portfolio - 德镁医药 has a diverse product portfolio addressing major skin diseases such as psoriasis, vitiligo, and atopic dermatitis, ranking first among innovative pharmaceutical companies in China for coverage across seven skin disease indications as of June 30, 2025 [1] - Key products include three marketed prescription drugs, four clinical-stage or late-stage candidates, and dermatological skincare lines such as 和零舒缓系列 and 喜辽妥—壬二酸系列 [1] Commercialization Capability - The company possesses strong commercialization capabilities with a self-built team of approximately 650 people, and its sales network covers over 12,000 hospitals and 150,000 retail pharmacies nationwide [1]