香 港 聯 合 交 易 所 有 限 公 司 與 證 券 及 期 貨 事 務 監 察 委 員 會 對 本 申 請 版 本 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 意 見，並 明 確 表 示 概 不 就 因 本 申 請 版 本 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損失承擔任何責任。 Hangzhou Sciwind Biosciences Co., Ltd.* 杭州先為達生物科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警 告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）與證券及期貨事務監察委員會（「證監會」）的要求而刊發， 僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代表 閣下知悉、 接納並向本公司、其保薦人、整體協調人、顧問或包銷團成員表示同意： 本公司招股章程根據香港法例第32章《公 司（清 盤 及 雜 項 條 文）條 例》呈 交 香 港 公 司 註 冊 處 處 長 登 記 前，本 公 ...

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Hangzhou Sciwind Biosciences Co., Ltd.* 杭州先為達生物科技股份有限公司 (A joint stock company incorporated in the People's Republi ...

Core Insights - The article highlights the significant milestone achieved by the company, Xianweida Biopharmaceutical, with the approval of its innovative product, Enoglutide injection, by the NMPA for the treatment of type 2 diabetes, marking it as the world's first cAMP-biased GLP-1 receptor agonist approved for market [1][3]. Group 1: Product Innovation and Market Position - Enoglutide injection utilizes a unique cAMP-biased mechanism, allowing for targeted activation of the GLP-1 receptor's downstream cAMP signaling pathway, which enhances metabolic benefits while effectively lowering blood sugar levels [3][4]. - The product has received recommendations in the "2024 China Diabetes Prevention and Treatment Guidelines," indicating a shift towards precise signal regulation in diabetes treatment [3][4]. Group 2: Clinical Data and Efficacy - Two pivotal Phase III clinical studies (EECOH-1 and EECOH-2) demonstrated that Enoglutide injection provides significant benefits in blood sugar reduction, weight loss, and improvement in various metabolic indicators, with sustained efficacy for up to 52 weeks [4][6]. - The results of the EECOH-1 study have been published in the prestigious journal "Nature Communications," receiving recognition from leading experts in the diabetes and weight loss fields, underscoring the product's efficacy and safety [4][6]. Group 3: Market Potential and Growth Drivers - The approval of Enoglutide injection positions the company to enter the multi-billion-dollar GLP-1 market, with the global diabetes direct health expenditure surpassing $1 trillion in 2024 and the number of diabetes patients projected to rise to 853 million by 2050 [6][7]. - China, having the highest number of diabetes patients globally, offers a vast market opportunity for the commercialization of Enoglutide injection [6][7]. Group 4: Pipeline and Future Prospects - The company has initiated clinical studies for Enoglutide injection targeting weight loss and non-alcoholic fatty liver disease (NASH), which could enhance its market value and expand its patient coverage [7][9]. - The company is developing a diverse pipeline, including oral formulations and other innovative products, which are expected to address unmet clinical needs and strengthen its competitive position in the weight management sector [9][10]. Group 5: Capital Market and Growth Strategy - The company is in the process of listing on the Hong Kong Stock Exchange, which is anticipated to provide funding for R&D and commercialization efforts, thereby accelerating market penetration of its core products [12]. - The successful commercialization of Enoglutide injection and the advancement of other pipeline products are expected to enhance the company's profitability and growth potential [12].

Core Insights - The global weight management sector is experiencing urgent demand and rapid development, with over 600 million overweight/obese individuals in China, leading to increased chronic disease risks [1] - The Chinese government has initiated a "Weight Management Year" program from 2024 to 2026, raising social awareness about weight management [1] - The GLP-1 class of drugs is gaining traction, with significant clinical validation and a growing user base in the U.S., where 1 in 8 adults has used GLP-1 medications [1] - The global market for weight management drugs is projected to reach $14.7 billion in 2024, with estimates suggesting it could exceed $100 billion by 2030 [1] Company Insights - The innovative drug, Enogratide, developed by the Chinese biotech company Senwaida, shows a weight reduction of 15.1% in clinical trials, positioning it as a leading candidate in the weight management market [2][4] - Senwaida has filed for an IPO in Hong Kong, potentially becoming the first stock focused on weight management in the market, aligning with the global surge in demand [2] - The company has established a strong technological foundation with three core platforms: BiasVantage for weight loss stability, OralVantage for oral peptide delivery, and HaleVantage for extended dosing intervals [3] - Enogratide has demonstrated superior clinical outcomes compared to existing therapies, with 92.8% of patients achieving significant weight loss and improvements in metabolic indicators [4] Market Dynamics - The weight management drug market is expanding rapidly, with Senwaida's Enogratide expected to receive regulatory approval in China by mid-2026 [5] - The company is also developing an oral formulation of Enogratide, which could become the first oral GLP-1 drug, significantly enhancing patient convenience and adherence [7] - Senwaida's pipeline includes multiple candidates targeting various obesity-related conditions, indicating a comprehensive approach to market needs [7] Competitive Landscape - The competitive edge of Senwaida lies in its differentiated technology and product offerings, which are expected to meet the growing demand for effective weight management solutions [9] - The company has secured international collaborations, with potential transaction values exceeding $3 billion, highlighting global recognition of its technology [8]

Core Viewpoint - The article discusses the upcoming IPO of Xianweida Biotechnology Co., Ltd., which focuses on innovative therapies for obesity and related diseases, highlighting its product pipeline and financial background [2][5]. Business Overview - Xianweida Biotechnology, established in 2017, is in the pre-commercialization stage and specializes in developing innovative treatments for obesity and related conditions. The company aims to transform its proprietary technology into safe and effective solutions for sustainable weight loss and the treatment of complications [5]. - The core product, Enoglutide Injection (XW003), is expected to be the first cAMP-biased GLP-1 receptor agonist launched in China for treating obesity and type 2 diabetes, with commercialization anticipated in 2026 after completing two BLA applications [5]. Product Pipeline - Besides XW003, key products include: - XW004: An oral GLP-1 receptor agonist with higher bioavailability, currently preparing for Phase II clinical trials, showing up to 6.8% weight loss in 6 weeks during Phase I trials [8]. - XW014: An oral small molecule cAMP-biased GLP-1 receptor agonist in Phase I clinical trials, demonstrating up to 5.6% weight loss over 43 days with fewer gastrointestinal side effects [8]. - XW015/XW016X: Amylin analogs in the clinical application stage, showing potential in diabetes and obesity treatment with milder gastrointestinal side effects compared to GLP-1 [8]. - Other pipeline products include XW019, a monthly biological injection in early research, and XW020, a long-acting injectable peptide drug expected to start Phase I trials by the end of 2026 [8]. Shareholder Structure and Financing - The major shareholder, Dr. Pan Hai, holds approximately 28.28% of the shares. Other investors include Tencent, IDG, Meituan, and several venture capital firms [9]. - The company has undergone multiple financing rounds since its inception, with significant increases in post-money valuations, reaching approximately 4.67 billion RMB in the latest round [9].

香 港 聯 合 交 易 所 有 限 公 司 與 證 券 及 期 貨 事 務 監 察 委 員 會 對 本 申 請 版 本 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 意 見，並 明 確 表 示 概 不 就 因 本 申 請 版 本 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損失承擔任何責任。 Hangzhou Sciwind Biosciences Co., Ltd.* 杭州先為達生物科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警 告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）與證券及期貨事務監察委員會（「證監會」）的要求而刊發， 僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代表 閣下知悉、 接納並向本公司、其保薦人、整體協調人、顧問或包銷團成員表示同意： 本公司招股章程根據香港法例第32章《公 司（清 盤 及 雜 項 條 文）條 例》呈 交 香 港 公 司 註 冊 處 處 長 登 記 前，本 公 ...

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Hangzhou Sciwind Biosciences Co., Ltd.* 杭州先為達生物科技股份有限公司 (A joint stock company incorporated in the People's Republi ...