New stock news: YAOJIE HEALTH plans Hong Kong IPO. China Securities Regulatory Commission requires additional information on the pricing basis and reasonableness of equity changes.

On August 2, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing filing disclosure (from July 26, 2024 to August 1, 2024), including the requirement for YAOJIE-ANKANG to supplement the pricing basis and reasonableness of equity changes since July 2020. According to the disclosure by the Hong Kong Stock Exchange on June 27, YAOJIE-ANKANG submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CITIC SEC and Huatai International serving as joint sponsors. Specifically, the China Securities Regulatory Commission stated in the announcement that YAOJIE-ANKANG is requested to provide supplementary explanations on the following matters, verified by lawyers with clear legal opinions: 1. Please explain the pricing basis and reasonableness of equity changes since July 2020. 2. Please explain the progress of the state-owned shareholders in performing state-owned asset management procedures, and whether there are substantive obstacles. 3. Please explain whether the shares held by the shareholders participating in this "full circulation" have been pledged, frozen, or involved in other disputed situations. 4. According to public information, the company signed an A-share listing counseling agreement in October 2022. Please explain the specific plan for the A-share listing and whether there are any significant impacts on this issuance and listing. According to the prospectus, YAOJIE-ANKANG is a clinically-driven, biopharmaceutical company in the registration clinical stage, focusing on the discovery and development of small molecule innovative therapies for tumors, inflammation, and cardiovascular metabolic diseases. With a comprehensive internal R&D system, the company has established a pipeline of six clinical stage candidate products and one preclinical stage candidate product. Currently, YAOJIE-ANKANG has no products approved for commercial sale and has not generated any revenue from product sales. During the historical period, the company's revenue mainly consisted of milestone payments related to LG Chem and TT-01025 licensed externally. As of December 31, 2022 and 2023, the company achieved total revenues of approximately RMB 12.4 million and RMB 118.1 million, with net losses of approximately RMB 252 million and RMB 343 million respectively.