Group 1 - Changfeng Pharmaceutical Co., Ltd. (stock code: 02652.HK) recently listed on the Hong Kong Stock Exchange, with its stock price opening over 200% higher on the first day and achieving nearly 6700 times oversubscription, setting a record in the healthcare sector since the implementation of the new stock pricing mechanism in Hong Kong [1] - The company focuses on the research, production, and sales of drugs for respiratory diseases, covering significant clinical needs such as asthma, chronic obstructive pulmonary disease (COPD), and allergic rhinitis, thus meeting the demands of patients and medical institutions across various specialties [3] - Changfeng Pharmaceutical has received six product approvals from the National Medical Products Administration of China and the U.S. FDA, with its first approved product, CF017 (Budesonide inhalation suspension), being the best-selling inhalation drug in China, rapidly included in the national centralized procurement plan [3] Group 2 - The company’s product CF018 is the first approved nasal spray for allergic rhinitis in China, which has quickly penetrated over 500 hospitals and medical institutions after being included in the 2023 National Medical Insurance Directory [3] - The company has a pipeline of over 20 candidate products under research, targeting major markets in China, the U.S., Europe, and emerging markets in Southeast Asia and South America [3] - Yantai Financial Group has established a comprehensive financial service ecosystem to support high-potential projects, having facilitated 38 companies to enter the capital market and 41 companies into the listing counseling stage [4]

Group 1 - The core viewpoint of the article is that Changfeng Pharmaceutical has passed the Hong Kong Stock Exchange listing hearing, with CITIC Securities and CMB International as joint sponsors [1] - The company was established in 2007 and focuses on the research, development, production, and commercialization of inhalation technologies and drugs for respiratory diseases [1] - The global market for respiratory drugs is substantial and growing, expected to reach $157.2 billion by 2033 [1] Group 2 - Changfeng Pharmaceutical's first approved product, CF017 (Budesonide inhalation suspension), is the best-selling inhalation drug in China, with a market share projected to reach approximately 16% by 2024 [1] - CF017 has been approved since 2021 and is available in over 10,000 medical institutions in China, also included in the national centralized procurement plan [1] - Another product, CF018 (Nasal spray of Fluticasone furoate), is the first approved drug in China for treating moderate to severe allergic rhinitis, included in the national medical insurance directory and covering over 500 medical institutions [1] Group 3 - The company has established five major technology platforms covering the core aspects of inhalation formulation development [1] - Changfeng Pharmaceutical is advancing the global development of over 20 candidate products and exploring new inhalation formulations such as liposomes and siRNA, as well as new treatment areas like CNS diseases and anti-infection [1] - The company is also developing new therapies such as endobronchial valves (EBV) and innovative or first-in-China therapies for diseases like IPF and PAH [1]