New stock news | Kexing Biopharm (688136. SH) Hong Kong IPO prospectus invalid

Kexing Biopharmaceutical Co., Ltd. (referred to as Kexing Biopharm(688136.SH)) submitted its Hong Kong IPO prospectus on November 6, 2025, which expired after 6 months on May 6, 2026. At the time of submission, China Securities Co., Ltd. was the exclusive sponsor. The prospectus showed that Kexing Biopharm is an innovative and internationally oriented biopharmaceutical company focusing on the research, production, and commercialization of recombinant proteins, antibodies, and targeted delivery therapies. The company strategically focuses on key treatment areas such as tumors and autoimmune diseases where there is still a significant unmet clinical need. Through independent innovation and strategic partnerships, the company has developed a differentiated portfolio of marketed products and candidate drugs, advancing competitive treatment solutions with clinical and market advantages. Following a "innovation + internationalization" dual-engine strategy, the company is committed to becoming a global leader in high-quality biopharmaceuticals, providing innovative drugs and breakthrough therapies to global patients. Kexing Biopharm's biopharmaceutical products are leading in their respective fields. SINOGEN (Xiumores) interferon 1b injection is China's first genetically engineered innovative drug, holding approximately 55.2% market share in the Chinese short-acting interferon 1b market by sales in 2024, ranking first for six consecutive years since 2019, according to Frost & Sullivan data. EPOSINO (Epuding) human erythropoietin injection is one of the first products in China to simultaneously obtain a new drug certificate and approval number in its category. It held approximately 16.7% market share in the Chinese erythropoietin market by sales in 2024, ranking second for four consecutive years since 2021. WHITE-C (Baitexi) human granulocyte colony-stimulating factor injection held approximately 5.2% market share in the Chinese short-acting human G-CSF market by sales in 2024, ranking in the top six for two consecutive years.