"创新为我们的发展注入了不竭动力。今年上半年，不仅此前上市的阿尔茨海默病血液检测产品在 入院上取得了很大进展，公司也有新医疗器械获批上市。海外业务方面，虽然具体营收数据还未对外披 露，但有望突破去年同期。"8月6日，南京诺唯赞生物科技股份有限公司相关负责人告诉记者。 在南京，产学研用联合推动的创新"聚变"正在上演。数据显示，上半年，南京全市高新技术产业产 值占规上工业总产值比重达55.8%。规模以上高技术制造业增加值同比增长6.8%，其中医药制造业、 航空航天器及设备制造业、计算机及办公设备制造业分别增长11.6%、18.5%和78.2%。 创新涌现，"快马加鞭不下鞍" 在南京鱼嘴湿地公园，市民游客不仅能看到"长河落日圆"的美景，还能体验无人机扫码即飞，化 身"空中摄影师"，定格旅途中的美好瞬间。 "一直想尝试用无人机拍摄风景，但自己购买成本太高，携带也麻烦。这样感觉挺方便的，有短视 频也有照片，都能直传到手机，费用也不贵。"江西游客汪女士告诉记者，高空视角很有美感，朋友圈 的九宫格素材一下子就有了。 前不久，第十四届财经峰会暨2025新质生产力企业家大会召开，诺唯赞凭借"阿尔茨海默病（AD） 高灵敏血检创新 ...

Group 1 - The stock of Yaojie Ankang-B (02617) rose over 10%, reaching a new high of 30.7 HKD, which is an increase of over 130% from the IPO price of 13.15 HKD [1] - As of the report, the stock was up 8.83% at 30.2 HKD, with a trading volume of 24.18 million HKD and a market capitalization that briefly exceeded 12 billion HKD [1] - Yaojie Ankang announced that its self-developed multi-target kinase inhibitor, TT-00420, received Fast Track designation from the FDA for the treatment of metastatic castration-resistant prostate cancer [1] Group 2 - According to Frost & Sullivan, the global CCA drug market is expected to reach 2 billion USD by 2024, with a compound annual growth rate (CAGR) of 16.2% from 2019 to 2024 [2] - The market is projected to grow to 3.2 billion USD by 2027, with a CAGR of 17.1% from 2024 to 2027, and further increase to 4.6 billion USD by 2030, with a CAGR of 12.8% from 2027 to 2030 [2] - The company is a leader in the niche industry, with Tinengotinib being the first and only FGFR inhibitor entering the registration clinical stage for treating recurrent or refractory cholangiocarcinoma patients [2]

Core Viewpoint - Yaojie Ankang successfully listed on the Hong Kong Stock Exchange, marking it as the first company from Nanjing to go public this year, bringing the total number of listed companies in the city to 163 [1][3] Company Overview - Yaojie Ankang focuses on the research and development of small molecule innovative drugs, particularly targeting oncology, inflammation, and cardiovascular diseases [1] - The company has established a pipeline of six clinical-stage candidates and one preclinical candidate, most of which have innovative potential [1] Product Development - The core product, Tinengotinib, is a multi-target kinase inhibitor that aims to block faulty cellular signals to exert anti-tumor effects [1] - Tinengotinib is currently undergoing multiple clinical trials in China and the U.S. for various solid tumors, including cholangiocarcinoma, prostate cancer, and breast cancer [1] - The product has received breakthrough therapy designation from the National Medical Products Administration and orphan drug designation from the FDA for cholangiocarcinoma treatment [1] Financial and Market Position - Yaojie Ankang has completed nine rounds of financing, raising over 1.7 billion yuan [2] - The successful listing on the Hong Kong Stock Exchange is seen as a new starting point for the company in the capital market [2] Support and Policy Environment - The Nanjing Jiangbei New Area has established an overseas listing industry investment fund to support companies like Yaojie Ankang in their listing endeavors [2] - The fund has a total scale of 1 billion yuan and aims to invest in companies planning to list overseas [2] Local Market Context - The listing of Yaojie Ankang is part of a broader trend, with Nanjing having 31 companies listed on the Hong Kong Stock Exchange, making it the capital market with the most new listings in recent years [3] - There are currently four companies in the pipeline for listing, seven that have submitted applications for overseas listings, and 34 companies receiving guidance, indicating a robust local market for IPOs [3]

此前频频出现新股破发的港股18A（采用港交所第18A章规则上市的未有收入、未有利润的生物科技公司）板块，近期上市的新股已出现接连大涨的情形。6 月23日，药捷安康（02617.HK）登陆港交所，上市首日大幅收涨78.71%，总市值突破90亿港元，在港股18A板块中排在前20位。值得一提的是，今年4月上 市的映恩生物上市首日大涨逾116%，映恩生物、药捷安康分别成为港股18A板块中上市首日涨幅第三、第四的个股，也是自2021年6月以来近四年间，上市 首日涨幅最大的两家港股18A公司。在业内人士看来，随着创新药行情回暖，创新药企正在迎来由破发潮到上涨潮的"分水岭"。 药捷安康大幅收涨78.71% 6月23日，药捷安康正式登陆港交所，公司上市首日股价大涨，收涨78.71%，成为港股18A企业中上市首日涨幅第四的个股。 据了解，药捷安康首发价格为13.15港元/股。东方财富显示，药捷安康6月23日高开64.64%，开盘价为21.65港元/股。盘中公司股价继续冲高，一度涨逾 80%，盘中最高价为24港元/股，最终收涨78.71%，收盘价为23.5港元/股。 上市首日的大涨，使药捷安康总市值冲上90亿港元，收盘总市值约为 ...

Core Viewpoint - The article highlights the recent IPO of three companies on the Hong Kong Stock Exchange, with a particular focus on药捷安康, which experienced a significant stock price increase on its debut despite being in a loss-making position and lacking approved products for commercial sale [1][2]. Group 1: Company Overview - 药捷安康 is a clinical-stage biopharmaceutical company focused on developing innovative small molecule therapies for cancer, inflammation, and cardiovascular metabolic diseases [1]. - The company was founded in 2014 and had previously attempted to list on the Hong Kong Stock Exchange in 2021 but did not proceed [3]. Group 2: IPO Details - 药捷安康 priced its shares at HKD 13.15, issuing 15.281 million shares, with a public offering oversubscription rate of 3,419.87 times [2]. - The company raised approximately HKD 1.61 billion from the IPO, with plans to allocate 90% of the net proceeds to fund a multi-regional Phase III clinical trial for its core product, Tinengotinib [4]. Group 3: Financial Performance - 药捷安康 reported cumulative losses exceeding HKD 618 million over the past two years, with projected revenues of HKD 1.18 million in 2023 and zero in 2024, alongside significant R&D costs [3]. - The company has utilized about 72% of the funds raised from previous investments prior to the IPO [3]. Group 4: Future Plans - Following the IPO, 药捷安康 aims to accelerate its internationalization and commercialization efforts, including the establishment of an internal commercial team in China [2].

Core Insights - The opening price of Yaojie Ankang on its first trading day was HKD 21.65 per share, representing a 64.64% increase from the IPO price, and it closed at HKD 23.50 per share, a rise of 78.71%, with a market capitalization of approximately HKD 9.3 billion [2] - The company experienced over-subscription in its public offering, achieving a 25.92 times subscription rate in the Hong Kong public offering phase, while the international offering had a subscription rate of only 0.98 times [2] - Yaojie Ankang is a clinical demand-driven biopharmaceutical company focused on discovering and developing innovative small molecule therapies for oncology, inflammation, and cardiovascular diseases [4] Company Overview - Founded in April 2014, Yaojie Ankang was previously known as Nanjing Yaojie Ankang Biotechnology Co., Ltd., with a registered capital of approximately RMB 380 million [2] - The company has developed a pipeline that includes one core product and five clinical-stage candidates, along with one preclinical candidate [4] - The core product, Tinengotinib, is a unique multi-target kinase inhibitor aimed at three key pathways and is currently undergoing two pivotal registration clinical trials for treating cholangiocarcinoma that has progressed after FGFR inhibitor treatment [4] Financial Performance - In 2023 and 2024, Yaojie Ankang recorded net losses of approximately RMB 343.39 million and RMB 274.61 million, respectively [5] - The research and development costs for 2023 and 2024 were approximately RMB 344.48 million and RMB 244.00 million, accounting for 89.8% and 83.6% of total operating expenses, respectively [4][5] - The company incurred significant expenses related to contract research organizations (CRO), with costs of approximately RMB 192 million in 2023 and RMB 146 million in 2024, primarily attributed to the development of Tinengotinib [4]

盘面上，大型科技股涨跌不一，美团涨超2%，阿里跌0.81%，腾讯跌0.3%。美拟收紧半导体技术豁免， 中东紧张局势再添新变数，伊朗议会赞成关闭霍尔木兹海峡，油气、航运股冲高；美拟收紧半导体技术 豁免，中芯华虹均涨超4%；跨境支付通有望打开稳定币应用前景，稳定币概念再度升温；医药、新消 费午后涨幅扩大。另一边，比特币一度失守10万美元大关，加密货币ETF跌幅居前，影视股、乳制品股 等走软。 智通财经APP获悉，美国介入伊以冲突，中东地缘局势持续紧张，港股今日低开高走，午后涨幅进一步 扩大，恒生科技指数涨超1%。截止收盘，恒生指数涨0.67%或158.65点，报23689.13点，全日成交额为 1985.91亿港元；恒生国企指数涨0.82%，报8597.36点；恒生科技指数涨1.05%，报5187.01点。 华泰证券指出，在前期涨幅较大且速度较快的情况下，上周港股受地缘风险、本地流动性隐忧及AH交 易回摆三重扰动触发回调，但短期扰动不改动中期趋势。该行认为，三季度港股或从此前上行趋势转为 阶段震荡，但增配逻辑依然不改，因此逢低买入并持有依然是可行操作。 蓝筹股表现 理想汽车-W(02015)领涨蓝筹。截至收盘，涨 ...

Core Viewpoint - Yaojie Ankang (Nanjing) Technology Co., Ltd. has successfully listed on the Hong Kong Stock Exchange, with its stock closing at HKD 23.50, representing a 78.71% increase from its initial offering price of HKD 13.15 [1][4]. Group 1: Share Issuance and Financials - The total number of shares issued by Yaojie Ankang is 15,281,000, with 3,057,000 shares allocated for public offering in Hong Kong and 12,224,000 shares for international offering [2]. - The total proceeds from the share issuance amount to HKD 200.95 million, with net proceeds of HKD 161.34 million after deducting estimated listing fees of HKD 39.61 million [4][5]. - The company currently has 396,897,633 shares outstanding at the time of listing [2]. Group 2: Use of Proceeds - Approximately 90% of the net proceeds will be allocated to the research and development of the company's core product, Tinengotinib, while the remaining 10% will be used for general working capital and corporate purposes [5]. Group 3: Company Overview and Financial Performance - Yaojie Ankang is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule innovative therapies for oncology, inflammation, and cardiovascular metabolic diseases [5]. - The company reported no revenue for 2023 and projected revenue of RMB 1.2 million for 2024, with no products currently approved for commercial sale [6]. - The company incurred losses of RMB 343.4 million in 2023 and RMB 274.6 million in 2024, totaling RMB 618 million over the two years, primarily due to high R&D costs and management expenses [6][7].

Core Viewpoint - The article discusses the upcoming IPO of a biotech company, highlighting its strong investor backing, product pipeline, and financial performance, while also addressing potential risks associated with its reliance on a single core product [1][16][21]. Summary by Sections Basic Information - IPO subscription period is from June 13 to June 18, 2025, with listing on June 23, 2025 - Total shares offered globally are 15.281 million, with 10% for public offering in Hong Kong and 90% for international placement - The issue price is set at HKD 13.15 per share, with a minimum investment of approximately HKD 6,641.31 [1]. Financial Performance - The company is in the clinical stage with no commercialized products, resulting in ongoing losses - Revenue for 2023 was RMB 1.181 million, an 8-fold increase year-on-year, primarily due to milestone payments from a licensing agreement, which is no longer sustainable due to the termination of the agreement [6][7]. - Revenue for 2024 is projected to be zero, as there are no other commercialized products or ongoing licensing agreements [8]. Profitability Outlook - Net loss for 2023 expanded to RMB 343.94 million, a 36.3% increase year-on-year, driven by high R&D costs associated with clinical trials [10]. - Losses are expected to narrow to RMB 275 million in 2024 due to reduced R&D expenses, indicating a transition from high R&D spending to potential commercialization [10][11]. Product Pipeline - The core product, Tinengotinib, is positioned to treat drug-resistant cholangiocarcinoma, with promising clinical data showing a 40% objective response rate [13][15]. - The company is ahead in global clinical trials, with plans for commercialization as early as 2026-2027 [15][20]. Market Potential - The global cholangiocarcinoma drug market is projected to grow from USD 2 billion in 2024 to USD 4.6 billion by 2030, with Tinengotinib targeting a specific patient population [18]. - The company aims to capitalize on the high unmet medical need in challenging cancer types, potentially establishing itself as a market leader [17]. Investor Sentiment - The IPO has attracted significant interest from top-tier investors, indicating strong market confidence in the company's prospects [16]. - The founder has substantial experience in the industry, enhancing investor trust [16]. Risks - The company is heavily reliant on Tinengotinib, with no backup products in the pipeline, posing a significant risk if clinical trials fail [21]. - The market for cholangiocarcinoma is relatively small compared to other cancers, which may limit revenue potential [21]. - High costs associated with international clinical trials and the need for a sales team for overseas markets could impact profitability [22].

Core Viewpoint - The company,药捷安康, is set to launch an IPO with a global offering of 15.281 million H-shares at a price of HKD 13.15 per share, aiming to raise approximately HKD 201 million, with listing expected on June 23, 2025 [1][3]. Company Overview -药捷安康, established in April 2014, focuses on discovering and developing innovative small molecule therapies for oncology, inflammation, and cardiovascular diseases [5]. - The company has developed a pipeline that includes one core product and five clinical-stage candidates, along with one preclinical candidate [5]. Financial Highlights - The total amount raised from cornerstone investors is approximately HKD 149 million, with notable investors including Jiangbei Pharmaceutical and Kangfang Biotech [3]. - For the years 2023 and 2024, the company reported net losses of approximately RMB 343.39 million and RMB 274.61 million, respectively [7]. Research and Development - The core product, Tinengotinib, is a multi-target kinase inhibitor currently undergoing two pivotal clinical trials for cholangiocarcinoma [5][6]. - The R&D costs for 2023 and 2024 are estimated at RMB 344.75 million and RMB 244.00 million, representing 89.8% and 83.6% of total operating expenses, respectively [6].