A-share subscription | Yinosi (688710.SH) opens subscription for domestic non-clinical safety evaluation subfields, ranking among the top three in market share.

On August 23, Yinoosi (688710.SH) started accepting subscriptions, with an issue price of 19.06 yuan per share, a subscription limit of 8,000 shares, a P/E ratio of 15.4 times, belonging to the Science and Technology Innovation Board of the Shanghai Stock Exchange, with Haitong as the sponsor and lead underwriter. The prospectus shows that Yinoosi is a comprehensive contract research organization (CRO) company specializing in providing non-clinical research services in the field of biopharmaceuticals. As one of the earliest domestic enterprises to have both NMPA GLP certification, OECD GLP certification, and passing the GLP inspection of the US FDA, Yinoosi is aligned with international standards and has competitive international service capabilities in the industry, providing comprehensive new drug research services that meet domestic and international application standards for pharmaceutical companies and research institutions globally. The company's services mainly cover early-stage drug evaluation, non-clinical research, clinical testing, and translational research in the field of biopharmaceuticals, with the non-clinical research segment specifically including non-clinical safety evaluation, non-clinical pharmacokinetic studies, and non-clinical pharmacodynamic studies. After years of development and accumulation, Yinoosi ranks in the top three in market share in the sub-field of non-clinical safety evaluation in China, holding a leading position in the industry. As of December 31, 2023, Yinoosi has nearly 60,000 square meters of modern facilities and a highly skilled and comprehensive research team. In the reporting period, over 90% of Yinoosi's annual revenue came from non-clinical research services for Class I innovative drugs, completing research services for several international and domestic first-in-class innovative drugs for customers. Since its establishment, Yinoosi has gradually formed key technologies such as important organ toxicity biomarker evaluation technology, special toxicity safety evaluation key technology, innovative drug non-clinical safety evaluation system, experimental animal special drug administration technology, radioactive isotope labeling and Micro-PET/MR imaging technology, small nucleic acid/peptide/ADC/CGT product bioanalysis technology platform, high sensitivity large molecule multi-antibody analysis platform, flow cytometry technology receptor occupancy analysis platform, and other core technologies through its forward-looking layout and innovative capabilities. The total amount of funds raised, after deducting the issuance expenses, is planned to be used for the following investment projects: Financially, in 2021, 2022, and 2023, Yinoosi's operating income was approximately 582 million yuan, 863 million yuan, and 1.038 billion yuan respectively, with net profits in each period being around 84.52 million yuan, 118 million yuan, and 182 million yuan.