据港交所10月26日披露，江西生物制品研究所股份有限公司(以下简称为：江西生物)向港交所主板递交上市申请，中金公司（601995）、招商证券国际为其 联席保荐人。该公司曾于2025年4月11日向港交所递交过上市申请。 据招股书披露，江西生物是中国最大的人用破伤风抗毒素("人用TAT")提供商和出口商，也是全产业链贯通的抗血清平台商。破伤风抗毒素是一种抗血清， 通过中和破伤风梭菌(导致破伤风的细菌)产生的毒素，为破伤风感染提供即时保护及治疗。公司销售及分销网络遍布全球，其中包括在中国覆盖省、市、县 级的完善分销网络。该网络确保产品对23,500多家医疗机构(包括1,500多家三级医疗机构)的广泛市场覆盖和高效交付。 资料显示，江西生物已建立人用药和兽药的协同产品组合。除人用TAT外，公司现有产品包括兽用破伤风抗毒素、孕马血清促性腺激素("PMSG")以及若干 用于补充或支持PMSG治疗的激素类药物，这些产品将在完成上市批准的重新注册后投放市场。公司还建立了针对不同市场分部的多样化产品管线，包括丰 富的人用抗蛇毒血清、马狂犬病免疫球蛋白F(ab')及2多种兽用抗感染药物。 | | 產品 | 類別 | 適應症 | ...

Core Viewpoint - Jiangxi Biological has submitted a listing application to the Hong Kong Stock Exchange, with CICC and China Merchants Securities International as joint sponsors. This follows a previous application submitted in April 2025 [1]. Company Overview - Jiangxi Biological is the largest provider and exporter of human tetanus antitoxin (TAT) in China and globally, operating a comprehensive antiserum platform. The company has a global sales and distribution network covering over 23,500 medical institutions, including more than 1,500 tertiary medical institutions in China [3][6]. - The product portfolio includes human TAT, veterinary tetanus antitoxin, PMSG, and various hormone drugs, with plans to launch additional products upon regulatory approval [3][5]. Market Position - According to Frost & Sullivan, Jiangxi Biological holds a market share of 65.8% in the Chinese human TAT market and 36.6% globally, with projected sales of 25.4 million doses in 2024 [6]. - The company has maintained a dominant position in the Chinese human TAT market for 18 consecutive years, with nearly 100% of its exports going to over 30 countries and regions in Asia and Africa [6]. Financial Performance - Jiangxi Biological reported revenues of approximately RMB 142 million, RMB 198 million, and RMB 221 million for the fiscal years 2022, 2023, and 2024, respectively. The net profits for the same periods were approximately RMB 26.5 million, RMB 55.5 million, and RMB 75.1 million [7][8].