New stock news: Tede Pharmaceuticals has received approval from the China Securities Regulatory Commission for its listing on the Hong Kong Stock Exchange, with plans to issue no more than 48.1726 million shares.

On December 12, the International Cooperation Department of the China Securities Regulatory Commission issued a notice on the record filing of the overseas issuance and listing of Ted Pharmaceuticals (Zhejiang) Co., Ltd. and the "full circulation" of domestically unlisted shares. The company plans to issue up to 48,172,600 shares of overseas listed common stock and list on the Hong Kong Stock Exchange. 11 shareholders of the company plan to convert a total of 56,798,888 shares of domestically unlisted shares into overseas listed shares, which will be listed and circulated on the Hong Kong Stock Exchange. According to the disclosure of the Hong Kong Stock Exchange on December 6, Ted Pharmaceuticals submitted its second application to the Hong Kong Stock Exchange's main board, with Morgan Stanley and CITIC SEC as its joint sponsors. The prospectus shows that, according to Frost & Sullivan data, Ted Pharmaceuticals is the world's third largest CRDMO specializing in peptides in terms of sales revenue in 2023, with a market share of 1.5%. The company provides full-cycle services from early discovery, preclinical research, clinical development to commercial production. The top two participants in the global CRDMO market focusing on peptides each have a market share of 23.8%, while the rest of the market is more scattered, with the top three to six participants in 2023 (including the company) each holding only around 1% of the market share. Ted Pharmaceuticals mainly provides CRO services, namely peptide NCE discovery synthesis; and CDMO, namely peptide CMC development and commercial production. The company's services mainly focus on providing APIs to customers, rather than finished drugs. Subsequently, customers of the company will mix the API with excipients to form the final dosage form of the drug, determine the appropriate dosage form, route of administration, and formulation, and then use the final drug for their clinical trials or commercial sales. The company has established stable customer relationships and service footprint in over 50 countries, including major markets such as China, the United States, Japan, Europe, South Korea, and Australia. The company provides customers with peptide drug development, production, and CMC declaration support services in compliance with major market regulatory requirements. In terms of finances, for the six months ending on June 30 in 2021, 2022, 2023, and 2024, Ted Pharmaceuticals realized revenues of approximately RMB 282 million, RMB 351 million, RMB 337 million, and RMB 197 million respectively; while the profits for the same period were approximately RMB 80.28 million, RMB 53.98 million, RMB 48.905 million, and RMB 50.567 million respectively.