New stock news | Haixi New Drug submits application for listing on the Hong Kong Stock Exchange Main Board, 14 generic drugs approved by the National Medical Products Administration.

According to the disclosure by the Hong Kong Stock Exchange on January 3rd, Fujian Haixi New Drug Development Co., Ltd. (referred to as Haixi New Drug) submitted an application to the Hong Kong Stock Exchange main board, with Huatai International and CMB International as joint sponsors. According to the prospectus, Haixi New Drug has a diversified product portfolio and pipeline in China's largest and fastest-growing treatment areas, supported by a well-considered international strategy plan to expand overseas business. As of the latest feasible date (December 27, 2024), the company's commercialized product portfolio mainly includes generic drugs for digestive system diseases, cardiovascular diseases, endocrine system diseases, nervous system diseases, and inflammatory diseases; according to data from Zokav Consulting, these treatment areas accounted for over 25% of China Meheco Group's sales in 2023. Based on Haixi New Drug's insights in inflammation response and immune regulation, its innovative drug pipeline focuses on investigational drugs for various indications with significant unmet medical needs and enormous global market potential, including a potential first-in-class investigational oncology drug and three other innovative candidate drugs in preclinical stages for treating tumors, ophthalmology, and respiratory diseases. As of the latest feasible date, Haixi New Drug has obtained approval from the National Medical Products Administration for 14 generic drugs and established a pipeline with four innovative drugs in development. By the latest feasible date, Haixi New Drug has established a global patent portfolio including 36 patents, with 17 patents obtained in overseas jurisdictions such as the United States, Canada, Australia, Japan, South Korea, Singapore, India, and approximately 30 European countries. Additionally, the company plans to actively explore opportunities for collaboration with multinational companies (MNCs) to expand international clinical research and commercialization capabilities. The table below shows selected data for the generic drugs approved by the National Medical Products Administration for Haixi New Drug. Among the 14 generic drugs approved by the National Medical Products Administration for Haixi New Drug as of the latest feasible date, four have been selected for the National Volume-Based Procurement ("VBP") program. The company also has four drugs selected for provincial-level VBP programs. The four drugs selected for the National VBP program are: Anbil; Haihuitong; Ryantu; and Saixifu. In addition to the approved and commercialized generic drugs mentioned above, the company has four drugs in the ANDA stage for epilepsy, allergies, hypertension, and electrolyte supplementation, which are expected to receive market approval in 2025. In terms of finances, the revenue of Haixi New Drug for the nine months ending on September 30th was approximately RMB 2.12 billion, RMB 3.17 billion, and RMB 3.50 billion in 2022, 2023, and 2024, respectively; meanwhile, the profits for the same periods were approximately RMB 0.69 billion, RMB 1.17 billion, and RMB 1.16 billion, respectively. In the risk factors mentioned, Haixi New Drug stated that if the company fails to successfully sell its products to Chinese public hospitals and other medical institutions in the bidding process, it may lose market share, which could significantly impact its revenue and profit.