Core Viewpoint - Cloudbreak Pharma Inc. (拨康视云) successfully listed on the Hong Kong Stock Exchange on July 3, 2025, raising approximately HKD 612 million through its IPO, with a strong demand reflected in the subscription rates [3][6]. Group 1: IPO Details - The IPO involved a global offering of 60.582 million shares, representing 7.22% of the total shares post-issue, priced at HKD 10.10 per share [3]. - The public offering was oversubscribed by 78.78 times, while the international offering saw a subscription rate of 0.89 times [3]. - Two cornerstone investors participated, committing a total of approximately USD 28.8 million, which accounted for 29.25% of the global offering [3]. Group 2: Shareholder Structure - The largest single shareholder is Dr. Ni Jinsong, holding approximately 20.86%, followed by his wife, Ms. Bing Leng, with 1.32%, totaling 22.18% [4]. - Other significant shareholders include Van Son Dinh (7.14%), Yang Rong (1.76%), and Li Jun Zhi (4.14%), along with various institutional investors [4][5]. Group 3: Company Overview - Established in 2015, Cloudbreak Pharma is an innovative clinical-stage ophthalmic biotechnology company focused on developing novel and differentiated therapies [6]. - The company has a pipeline of eight candidate drugs targeting major eye diseases, with four in clinical stages and four in preclinical stages [6]. - Key products include CBT-001 and CBT-004, which may be the first global treatments for pterygium and vascularized eyelid lesions, respectively [6]. Group 4: Market Performance - As of the midday close, Cloudbreak Pharma's stock was priced at HKD 7.04, with a total market capitalization of approximately HKD 5.906 billion [7][8].

Group 1: Company Developments - Bolekan Vision Cloud-B has launched its IPO on the Hong Kong Stock Exchange, with approximately 60.58 million shares available for global sale at a price of HKD 10.10 per share, indicating the company's confidence in its value [1] - Stand Robot has submitted its listing application to the Hong Kong Stock Exchange, focusing on industrial intelligent mobile robot solutions, despite currently being in a loss-making position [2] - Chengtai Technology has filed its prospectus with the Hong Kong Stock Exchange, specializing in millimeter-wave radar products, with projected revenues increasing from 0.58 billion to 3.48 billion from 2022 to 2024 [4] Group 2: Financial Performance - China Wangwang reported revenues of approximately 23.51 billion for the fiscal year ending March 31, 2025, a slight decrease of 0.3% year-on-year, while profit attributable to equity holders increased by 8.6% to 4.34 billion [3]