New stock first day | BAO PHARMA-B(02659) debuts on the market with an early trading high of 129.34% Three core products to be commercialized soon

BAO PHARMA-B (02659) was listed, with the announcement showing a price of 26.38 Hong Kong dollars per share, issuing a total of 379,117,000 shares, with 100 shares per lot, resulting in a net amount of approximately 922 million Hong Kong dollars. As of the time of writing, the stock has risen by 129.34%, reaching 60.5 Hong Kong dollars, with a trading volume of 217 million Hong Kong dollars. The prospectus shows that Baoji Pharmaceuticals is a biotechnology company in the clinical and commercialization stages, utilizing synthetic biotechnology to develop and provide recombinant biopharmaceuticals in China, focusing on tackling target diseases with limited treatment options and complex drug manufacturing processes. Baoji Pharmaceuticals is venturing into four independent and high-value therapeutic markets using technologically differentiated products, including large-volume subcutaneous drug delivery, antibody-mediated autoimmune diseases, assisted reproductive drugs, and transformative products replacing traditional biochemical products. It is reported that Baoji Pharmaceuticals has China's first recombinant hyaluronidase KJ017 for large-volume subcutaneous drug delivery; the world's first IgG degradation enzyme KJ103 with "best in class" potential in low pre-existing antibodies and dosing frequency for antibody-mediated autoimmune diseases; and a long-acting follicle stimulating hormone drug SJ02 that has been collaboratively verified for use in assisted reproduction. These three core products have entered commercialization in China, new drug application (NDA) registration, or late-stage clinical trials, indicating that Baoji Pharmaceuticals is transitioning from a pure research and development phase to a commercialization stage.