Core Viewpoint - Jiren Pharmaceutical is advancing its IPO process after transitioning from the Shanghai Stock Exchange to the Beijing Stock Exchange, with a focus on its core product, Shufeng Jiedu Capsule, which is included in treatment plans for various viral infections [1][2]. Company Overview - Jiren Pharmaceutical, established in April 2001, has developed into a modern Chinese medicine manufacturer integrating standardized planting of medicinal materials, production, and sales of traditional Chinese medicine [6]. - The company has ventured into the financial sector by holding a 0.18% stake in Bozhou Yaodu Rural Commercial Bank since 2018 [6]. Product Information - Shufeng Jiedu Capsule is a proprietary product of Jiren Pharmaceutical, primarily used for treating upper respiratory infections and various viral diseases [2]. - The market share of Shufeng Jiedu Capsule is currently 4.24%, ranking third among cold medicine brands, following Yiling Pharmaceutical's Lianhua Qingwen Granules and Haitai Pharmaceutical's Sijikang Antiviral Mixture [3][2]. Financial Performance - Jiren Pharmaceutical reported revenues of approximately CNY 1.134 billion and CNY 1.230 billion for 2023 and 2024, respectively, with net profits of CNY 131 million and CNY 132 million [6]. - Sales revenue for Shufeng Jiedu Capsule is projected to decline, with expected revenues of CNY 475 million in 2023 and CNY 377 million in 2024 [3][4]. Regulatory Scrutiny - The National Equities Exchange and Quotations (NEEQ) has raised concerns regarding the high academic promotion costs for Shufeng Jiedu Capsule despite its long-standing inclusion in medical insurance, as well as the effectiveness of measures to isolate commercial bribery risks between the company and its promoters [1][5]. - Jiren Pharmaceutical has engaged 299 and 273 promoters for academic promotion in 2023 and 2024, respectively, and has conducted visits to over 590,000 and 536,000 individuals in relevant medical departments [5].

IPO Pipeline Overview - As of August 10, there are 299 companies in the IPO pipeline, with 29 on the Shanghai Main Board, 36 on the Sci-Tech Innovation Board, 26 on the Shenzhen Main Board, 29 on the ChiNext, and 179 on the Beijing Stock Exchange [1][2]. Newly Listed Companies - From August 4 to August 10, three companies were newly listed: - Hansan (Nanjing) Technology Co., Ltd. on the ChiNext with a closing price of 82.89 CNY per share, a rise of 186.72%, and a trading volume of 2.048 billion CNY [4][5]. - Yangzhou Tianfulong Group Co., Ltd. on the Shanghai Main Board with a closing price of 56.80 CNY per share, a rise of 140.68%, and a trading volume of 1.971 billion CNY [5]. - Jiangsu Youli Intelligent Equipment Co., Ltd. on the Beijing Stock Exchange with a closing price of 83.22 CNY per share, a rise of 246.89%, and a trading volume of 732 million CNY [5]. New Counseling Record Companies - Eight companies were newly recorded for counseling from August 4 to August 10, including: - Beijing Jichuang Beifang Technology Co., Ltd., focusing on integrated circuit design [6][7]. - Yao Mazi Food Co., Ltd., specializing in seasoning products [8]. - Changde New Material Technology Co., Ltd., engaged in resource utilization and new materials [8]. - Anhui Jiren Pharmaceutical Co., Ltd., focusing on modern traditional Chinese medicine [8]. - Dongguan Yuanli Optoelectronics Co., Ltd., specializing in LCD backlight modules [8]. - Zhongdao Optoelectronic Equipment Co., Ltd., focusing on detection equipment for displays and solar cells [8]. - Tianbo Intelligent Technology (Shandong) Co., Ltd., producing various automotive sensors [9]. - Zhongxing Micro Technology Co., Ltd., providing video technology solutions based on AI and big data [9]. Approval Status of Companies - Three companies successfully passed the review process from August 4 to August 10: - Zhongcheng Zhixin Engineering Consulting Group Co., Ltd. on the Beijing Stock Exchange [10]. - Suzhou Fengbei Biotechnology Co., Ltd. on the Shanghai Main Board [10]. - Zhuhai Nante Metal Technology Co., Ltd. on the Beijing Stock Exchange [10]. - The review for Jiejia Robot Co., Ltd. was canceled [10]. Registration Approval - Two companies received registration approval from August 4 to August 10: - Guangzhou Bibete Pharmaceutical Co., Ltd., focusing on innovative drug development [16][17]. - Daming Electronics Co., Ltd., specializing in automotive electronic components [18]. Termination of Review - Only one company, Wenduoli Sunshade Materials (Dezhou) Co., Ltd., withdrew its IPO application during this period [20][21].