New Stock News | Biopharmaceutical company Zhenxiang Pharmaceutical submits application to Hong Kong Stock Exchange, has not yet received any income during the reporting period.

According to the disclosure on January 30th by the Hong Kong Stock Exchange, Zhengxiang Pharmaceutical (Nanjing) Group Co., Ltd. (hereinafter referred to as "Zhengxiang Pharmaceutical") has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC as its exclusive sponsor. Company Overview According to the prospectus, Zhengxiang Pharmaceutical is a commercial-stage biopharmaceutical company dedicated to discovering, developing, and commercializing innovative therapies to address unmet medical needs in the fields of viral infectious diseases, oncology, and inflammatory diseases. The company's core product, Maseglovir tablets, is an inhibitor of the acidic protein (PA) endonuclease of the influenza virus, which received approval for the New Drug Application (NDA) for the treatment of adult influenza from the National Medical Products Administration (NMPA) in July 2025. The company is expanding its indications to pediatric patients and the post-exposure prevention field. Using commercialized drug assets and a comprehensive small molecule drug development platform, the company has developed six drug assets pipelines, including commercialized Maseglovir tablets, a late-stage clinical Maseglovir dry suspension formulation for pediatric influenza patients, a Phase I clinical trial ZX-8177 for solid tumors, and a drug ZX-12042B in the IND application stage for human papillomavirus (HPV) infection. The company also has two preclinical candidate drugs for herpes simplex virus (HSV) infection and autoimmune diseases. The pipeline and development stages of the company's six drug assets are as follows: The prospectus indicates that the company may not be successful in developing and commercializing its core product, Maseglovir tablets or other candidate drugs. Maseglovir (ZX-7101A) Maseglovir (ZX-7101A) is an inhibitor of the target influenza virus PA endonuclease developed by the company. The company is currently developing two different formulations of Maseglovir, the core product Maseglovir tablets, and Maseglovir dry suspension. Both formulations are registered with the NMPA and regulated as two separate products, with the tablet representing the most advanced development project for Maseglovir, receiving NDA approval for the treatment of adult influenza from the NMPA in July 2025. Internationally, the oral formulation of Maseglovir has not yet been approved in overseas markets. Financial Information Revenue The company did not generate any revenue in the fiscal year 2024 and for the nine months ended September 30, 2024, and September 30, 2025. Profit The company recorded a loss of approximately -145 million RMB, -127 million RMB, and -145 million RMB for the fiscal year 2024, the nine months ended September 30, 2024, and the nine months ended September 30, 2025, respectively. Industry Overview Overview of the Influenza Treatment and Prevention Drug Market Influenza is an acute respiratory infection caused by the influenza virus, primarily spread through droplets, aerosols, and contact. The influenza virus belongs to the Orthomyxoviridae family and is a single-stranded negative-sense segmented RNA virus. The influenza drug market includes antiviral treatments (for treatment and prevention) and symptomatic treatments such as antipyretics. It is estimated that the global influenza treatment and prevention drug market reached 48 billion USD in 2024, with China contributing 17 billion USD, the Middle East contributing 0.6 billion USD, and the rest of the world contributing 30 billion USD. By 2035, the market is expected to reach 105 billion USD, with China contributing 25 billion USD, the Middle East contributing 2.2 billion USD, and the rest of the world contributing 78 billion USD. In 2024, the market size for influenza treatment and prevention drugs in China reached 12.1 billion RMB, with 42 billion RMB for the population aged 14 and above, 49 billion RMB for the population aged 5 to 14, and 31 billion RMB for the population aged 0 to 4. The relatively stable incidence rates confirm these forecasts, reflecting the adoption of a stratified approach by age and a constant average annual influenza incidence rate. Annual fluctuations are weak, representing long-term average disease burden rather than annual changes. By 2035, the market size is expected to reach 17.6 billion RMB, with 10.9 billion RMB for the population aged 14 and above, 4.4 billion RMB for the population aged 5 to 14, and 2.3 billion RMB for the population aged 0 to 4. Market Size of Influenza Antiviral Drugs In 2024, the market size of influenza antiviral drugs in China was 5.7 billion RMB, with the NAIs and other antiviral drugs market size being 4.8 billion RMB, and the PA inhibitors market size being 0.9 billion RMB. By 2035, the market size is expected to reach 13.6 billion RMB, with PA inhibitors and other antiviral drugs accounting for 13 billion RMB, while NAIs account for 0.6 billion RMB. Board of Directors The company's board of directors consists of 7 directors, including 2 executive directors, 2 non-executive directors, and 3 independent non-executive directors. Shareholding Structure As of January 23, 2026, Dr. Yang, Dr. Hao, and Zhengxiang Jiwann are acting in concert, collectively exercising approximately 22.76% of the company's voting rights. In addition, Enran Venture Capital holds an 18.39% stake in the company. FIIF II is managed by its general partners China Investment Merchants Management. Therefore, under the Securities and Futures Ordinance, China Investment Merchants is considered to have an interest in the shares held by FIIF II. Intermediary Team Exclusive Sponsor: China International Capital Corporation Hong Kong Securities Limited Company Legal Advisor: Hong Kong and US law: King & Wood Mallesons; Chinese law: JunHe Law Firm Legal Advisor of Exclusive Sponsor: Hong Kong law: King & Wood Mallesons; Chinese law: King & Wood Mallesons Auditor and Reporting Accountant: KPMG Industry Consultant: Insights Industry Consulting Limited Compliance Consultant: FIRST SHANGHAI Financing Limited