IPO Plus - IPO

Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
S.F. Holding 06936.HK	Air Freight & Logistics	32.3-36.3	200	N/A	2024/11/22	2024/11/26	2024/11/27
Jiuyuan Gene 02566.HK	Biotechnology - Medical Devices	11.48-12.56	200	N/A	2024/11/25	2024/11/27	2024/11/28
Mokingran 02585.HK	Watch & Jewellery	12-14.4	200	N/A	2024/11/26	2024/11/28	2024/11/29

Name▼

Code▼

Industry

Offer Price

Lot Size

Entry Fee

Closing Date

Grey Market Date▼

Listing Date▲

S.F. Holding
06936.HK

Air Freight & Logistics

32.3-36.3

200

N/A

2024/11/22

2024/11/26

2024/11/27

Jiuyuan Gene
02566.HK

Biotechnology - Medical Devices

11.48-12.56

200

N/A

2024/11/25

2024/11/27

2024/11/28

Mokingran
02585.HK

Watch & Jewellery

12-14.4

200

N/A

2024/11/26

2024/11/28

2024/11/29

Summary

Founded in 1993 and headquartered in Zhejiang Province, we are a biopharmaceutical company in China with over 30 years of proven track record in the R&D, manufacturing and commercialization of biopharmaceutical products and medical devices. We focus on four large and fast-growing therapeutic areas: orthopedics, metabolic diseases, oncology, and hematology. Collectively, these four therapeutic areas accounted for 51.5% of the total pharmaceutical sales in China in 2023, and outpaced the broader Chinese pharmaceutical industry from 2018 to 2023, a trend which is expected to continue in the near future, according to CIC. Centred around these therapeutic areas, we have built a diversified product portfolio comprising eight marketed products, including China’s first recombinant human bone morphogenetic protein-2 (“rhBMP-2”) bone repair material, Guyoudao, and over ten product candidates, including the first semaglutide biosimilar in China to have obtained an IND approval and filed an NDA, JY29-2, as of the Latest Practicable Date. Our strategy starts by identifying therapeutic targets with market potential in our focused areas. Once the targets are identified, we pursue the development of China’s innovative and first follow-on products, leveraging our established R&D platforms, manufacturing capabilities, and sales and distribution network in China. Our Portfolio and Pipeline Our marketed product portfolio includes one drug-device combination, two biological products, and five chemical drugs in orthopedics, oncology and hematology. Among them, several of our products are domestically developed first-to-market products and maintain a competitive position in their respective product category in terms of market share as measured by revenue in 2023. Notably, our drug-device combination product, Guyoudao, is the first product containing bone repair material with rhBMP-2 approved for sale in China, and ranked first by sales revenue in China’s bone repair material market in 2023, according to CIC. We acquired Guyoudao from Hangzhou Huadong Medicine Group Co., Ltd. (杭州華東醫藥集團有限公司) in 2010 recognizing its promising prospects, and it generated a significant portion of our revenue during the Track Record Period. For details of the transaction, please see “Business — Our Products — Orthopedic Product.” Revenue generated from all of our marketed products accounted for 87.6%, 93.8%, 91.5% and 87.9% of our total revenue for the years ended December 31, 2021, 2022, 2023 and the six months ended June 30, 2024, respectively. Beyond our offerings in orthopedics, oncology and hematology, we have nearly 18 years of experience in metabolic disease drug development. We initiated our research into the agonists to GLP-1 receptor, a key therapeutic target in metabolic diseases, in 2005. Based on our peptide drug technology platform, we developed the first biosimilar candidate to liraglutide (a GLP-1 receptor agonist) to have obtained the IND approval in China. For details of our peptide drug technology platform, see “Business — Research and Development — Our Product Development Platforms.” We transferred this product candidate to Zhongmei Huadong between 2017 and 2019 to raise funds for the development of our other product pipelines at that time. The terms and conditions for such transfers were arrived at after arm’s length negotiation and are in line with the industry average for similar arrangements. In p a r t i c u l a r, the transfer fees were determined based on the appraised value of the transferred technologies and intellectual properties assessed by an independent valuer. For details, please refer to the paragraphs headed “— Collaboration Arrangements — Transfer Agreements of Liluping (Liraglutide) with Zhongmei Huadong” in this section. Through our collaborative efforts with Zhongmei Huadong, this candidate became the first liraglutide biosimilar approved for the treatment of T2DM as well as obesity and overweight in China in March and June 2023, respectively. Benefiting from the R&D experience we accumulated, we further developed another GLP-1 receptor agonist, JY29-2. JY29-2 is a semaglutide biosimilar and we are developing it under the brand name of Jiyoutai (吉優泰) for the treatment of type 2 diabetes mellitus (“T2DM”), and under the brand name of Jikeqin (吉可親) for the treatment of obesity and overweight. JY29-2 (Jiyoutai) is the first semaglutide biosimilar in China to have obtained the IND approval, completed a Phase III clinical trial, and submitted an NDA. In January 2024, we obtained the IND approval from the NMPA to evaluate our JY29-2 (Jikeqin) for the treatment of obesity and overweight. Semaglutide products recorded global sales of US$20.6 billion in 2023 by generic name, making it the top three best-selling drugs worldwide in 2023. However, the market size of semaglutide for the treatment of T2DM, overweight and obesity could potentially be limited by alternative prevention and treatment methods for such indications and medication treatment is used only for a portion of the total T2DM, overweight and obesity population. See “Risk Factors — Risks Relating to the Development of Our Product Candidates — The market opportunities for our product candidates may be smaller than we anticipate, which could render some product candidates less profitable than expected even if commercialized.” Source: Jiuyuan Gene (02566) Prospectus (IPO Date : 2024/11/20)
Listing Market	MAIN
Industry	Biotechnology - Medical Devices
Background	H Shares
Major Business Area	N/A

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