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Yiteng Jia and Renhe "turn around", launching the first shot of "value leapfrogging" in the cold winter of biomedical capital.
With this integration, the new company will have a dual advantage in R&D and commercialization, making it more in line with the current market's valuation trend for Biopharma companies, thus having the potential for value reconstruction.
Yiteng Pharmaceutical, from Suzhou, Jiangsu, went public in Hong Kong and obtained a “Notice of Filing” from the China Securities Regulatory Commission
According to the new overseas listing and filing regulations for domestic companies that came into effect on March 31, 2023, companies chose to list H-shares in Hong Kong. The original path of big and small is a thing of the past. Companies listed overseas can directly submit a prospectus, and the roadmap will be replaced by a “filing notice”.
Seven companies were approved on the same day, including Cha Hundred Dao and Queries, etc., were approved on the same day. That was simply too fast!
On December 21, 7 domestic companies were approved with a “filing notice” on December 20 to obtain the pre-conditions for overseas listing, namely: Outbound Enquiry, Walker Healthcare, Robey Electric Vehicle, Yidayun, Yiteng Pharmaceutical, Hardening Technology, and Tea Baidao. 4 went public in Hong Kong, and 3 went public in the US.
IPO outlook | There are hidden concerns behind high growth. How can the four-handed Yiteng Pharmaceutical tell a good listing story?
After a lapse of two years, Yiteng Pharmaceutical hit the Hong Kong Stock Exchange once again. The Zhitong Finance App noticed that recently Yiteng Pharmaceutical Group Co., Ltd. (hereinafter referred to as “Yiteng Pharmaceutical”) submitted a listing application to the main board of the Hong Kong Stock Exchange, with Morgan Stanley as the sole sponsor. It is worth mentioning that the company submitted prospectus to the Hong Kong Stock Exchange three times on September 23, 2020, March 29, 2021, and December 15, 2021, respectively. The company also successfully passed the hearing on June 25, 2021, but finally failed due to the failure to launch a prospectus. According to the prospectus, Yiteng Pharmaceutical was founded in 2001 and is a fully integrated biopharmaceutical company. The goal is
“Yiteng Pharmaceutical”, which has revenue exceeding 2 billion dollars, once again submitted to the Hong Kong Stock Exchange, and profits increased sharply by 95.13%
Yiteng Pharmaceutical submitted a prospectus to the Hong Kong Stock Exchange for the second time on June 23, 2023. It plans to be listed on the Hong Kong Main Board. The company is a fully integrated biopharmaceutical company committed to providing promising treatment methods for patients in the treatment field where medical services are lacking in China. The company's revenue in 2022 exceeded 2 billion yuan, a slight increase of 0.02% over the previous year, but net profit increased sharply by 95.13%.
Yiteng Pharmaceutical submits a prospectus and plans to go public in an IPO in Hong Kong. Morgan Stanley is the exclusive sponsor, and Credit Suisse withdraws
On June 23, 2023, Edding Group Company Limited (“Yiteng Pharmaceutical”) of Shanghai Yiteng Pharmaceutical Group Co., Ltd. (“Yiteng Pharmaceutical”) submitted a prospectus to the Hong Kong Stock Exchange to be listed as an IPO on the Hong Kong Main Board. Yiteng Pharmaceutical previously submitted prospectus three times on September 23, 2020, March 29, 2021, and December 15, 2021. During this period, it passed the Hong Kong Stock Exchange hearing on June 25, 2021, and expired after not initiating a prospectus. This time the application was submitted compared to the previous application, and Credit Suisse withdrew from the sponsor team and was exclusively sponsored by Morgan Stanley.
