CSRC approves Sefon Technology's registration for the Sci-Tech Innovation Board IPO.

On August 23, the China Securities Regulatory Commission issued a reply approving the initial public offering of shares by Suzhou Saifen Technology Co., Ltd. It is reported that Saifen Technology plans to list on the Shanghai Stock Exchange Sci-Tech Innovation Board, with CITIC SEC as the IPO sponsor, intending to raise 800 million yuan. According to the prospectus, Saifen Technology is dedicated to the research and production of liquid chromatography materials for drug analysis and purification, and is a high-tech enterprise integrating research and development, production, and global sales. The company's core products are chromatographic columns and chromatography media applied in the analysis, detection, and purification of bio-macromolecular drugs and small molecule chemical drugs, spanning the entire process of drug development and production, and are essential consumables for pharmaceutical companies, especially biopharmaceutical companies, from early drug development to commercial-scale production. The company mainly uses direct sales for domestic sales and a combination of direct sales and distribution for overseas sales. With advanced technology, excellent product performance, and reliable production capacity assurance, the company has established good cooperation relationships with important customers such as Gan & Lee Pharmaceuticals, INNOVENT BIO, Shanghai Fosun Pharmaceutical, Agilent, and Thermo Fisher during the reporting period. Financially, Saifen Technology achieved operating income of approximately 155 million yuan, 213 million yuan, and 245 million yuan in 2021, 2022, and 2023, respectively. The net profits for the same period were 21.62 million yuan, 48.20 million yuan, and 54.15 million yuan, respectively.