New Stock News | Real Biotech to Apply for Hong Kong IPO China Securities Regulatory Commission Requires Conclusive Opinions on the Compliance of Previous Changes in Equity

On April 18, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing disclosure (April 11, 2025 - April 17, 2025). The CSRC requires TrueBio to explain the pricing basis, payment method, payment deadline, and compliance of the acquisition of Henan RealBio, the fairness of the acquisition pricing, the tax declaration and payment situation of the transferor in the equity transfer process, and whether it complies with the regulations on foreign investors acquiring domestic enterprises. They are also required to provide a conclusive opinion on the compliance of the establishment and various equity changes of the company and its main domestic operating entities. According to the HKEX disclosure on February 18, RealBio submitted documents to HKEX for the second time with CICC as its exclusive sponsor. The company had previously submitted documents to HKEX on August 4, 2022. At the same time, they need to summarize the companys and domestic shareholders' compliance with foreign exchange registration, overseas investment, foreign investment procedures during the construction of the company's equity structure and the return and acquisition process, and provide a conclusive opinion on whether it complies with the regulatory requirements for foreign exchange management, overseas investment, foreign investment, and tax management that were valid at the time. According to the prospectus, RealBio is a biotechnology company that focuses on the development, manufacturing, and commercialization of innovative drugs for the treatment of viral infections, tumors, and cardiovascular diseases, driven by innovative research and development. In the field of viral infection treatment, RealBio's core product Azvotin, as a Class 1 original drug, was conditionally approved by the National Medical Products Administration for the treatment of HIV infection in July 2021, and conditionally approved for the treatment of COVID-19 in July 2022, becoming the first Chinese company-developed oral antiviral drug approved by the NMPA for the treatment of COVID-19. In terms of finances, in 2023 and 2024, RealBio's revenue was approximately RMB 344 million and RMB 238 million respectively, while the net losses for the year were approximately RMB 784 million and RMB 40.042 million respectively.