New stock news | Changfeng Pharmaceuticals (02652) borrowed 33.96 billion Hong Kong dollars from securities firms for margin financing, oversubscribed 5587 times.

Changfeng Medicine (02652) started its stock offering from September 26th to October 2nd. Data shows that as of Thursday (2nd), Changfeng Medicine has received at least 33.96 billion Hong Kong dollars in margin financing from securities firms, with an initial fundraising amount of 60.77 million Hong Kong dollars, oversubscribed by 5587 times. Since the revised IPO pricing mechanism was implemented by the Hong Kong Stock Exchange in August, Changfeng Medicine's single-margin subscription has become the second highest oversubscribed IPO, second only to DAHON TECH (02543) with 7557 times, surpassing Yinuo Medicine (02591) with 5341 times. It is reported that Changfeng Medicine plans to globally issue 41.198 million H shares, with 10% of them sold in Hong Kong and 90% sold internationally. The offering price will be HK$14.75 per share. H shares will be traded on the Hong Kong Stock Exchange starting at 9:00am on October 8, 2025 (Wednesday). The company mainly focuses on the research, development, production, and commercialization of inhalation technology and drugs, specializing in the treatment of respiratory diseases. The company has developed a product portfolio covering a wide range of patients, medical specialties, and therapeutic areas. During the reporting period, the company has obtained approvals for six products from the National Medical Products Administration (NMPA) and the Food and Drug Administration (FDA) in the United States, generating substantial sales revenue and demonstrating its capabilities in clinical development, production, regulatory affairs, and commercialization. Financially, thanks to the successful commercialization of CF017, Changfeng Medicine's revenue increased from 349 million yuan in 2022 to 608 million yuan in 2024, with a compound annual growth rate of 31.9%; in 2024, it achieved a gross profit of 491 million yuan, a year-on-year increase of approximately 7.2%. Additionally, the company is benefiting from economies of scale in operational efficiency and is expected to actively control administrative expenses as the business expands, with a continued decrease in administrative expenses as a percentage of revenue.