New stock news | Ninegene's IPO prospectus is invalid: the company focuses on the treatment field within the four fast-growing sectors.

Hangzhou Jiuyuan Gene Engineering Co., Ltd.'s Hong Kong stock prospectus submitted on January 22nd was valid for 6 months, and expired on July 22nd. Huatai International was the exclusive sponsor at the time of submission. According to the previous prospectus, Jiuyuan Gene is a pioneer in China in applying gene engineering to the pharmaceutical industry, with over 30 years of experience in research and development, production, and commercialization of biopharmaceuticals and medical devices. Jiuyuan Gene focuses on four rapidly growing treatment areas: orthopedics, metabolic diseases, tumors, and blood disorders. According to CIC data, these four treatment areas accounted for 52.0% of China's total drug sales in 2022, far surpassing the overall performance of the industry as a whole from 2018 to 2022, and it is expected that this trend will continue in the near future. Among the products already on the market, three are the first approved commercialized domestic products in their respective product categories in China. Among them, the most notable is Jiuyuan Gene's medical device combination product Boneyoudao, which is China's first approved sales of rhBMP-2 bone repair material and ranked second in the Chinese bone repair material market in terms of sales revenue in 2022, according to CIC. According to CIC, Jiuyuan Gene's two tumor and blood products, Jilifen and Jipailin, are the first domestically produced and commercialized biosimilars or small molecule drugs in their respective product categories. As of the fiscal year ended December 31, 2021, 2022, and the nine months ended September 30, 2023, revenues generated by all of Jiuyuan Gene's products accounted for 87.6%, 93.8%, and 92.5% of the company's total revenue, respectively. In terms of finance, Jiuyuan Gene's revenues for the fiscal years ended September 30, 2021, 2022, and the nine months ended September 30, 2023 were RMB 1.307 billion, RMB 1.125 billion, and RMB 1.023 billion, respectively. During the same period, net profits were RMB 119 million, RMB 59.867 million, and RMB 111 million, respectively.