New stock news | Din Tai Pharmaceuticals once again submits an application to the Hong Kong Stock Exchange, becoming the largest CRO in the field of non-clinical research for Chinese cardiovascular and metabolic diseases.

07:00 16/06/2026

According to the disclosure by the Hong Kong Stock Exchange on June 15, Jiangsu Dingtai Pharmaceutical Research Co., Ltd. (referred to as Dingtai Pharmaceutical) has submitted its application to the Main Board of the Hong Kong Stock Exchange, with Citigroup and Haitong International acting as joint sponsors.

According to the disclosure by the Hong Kong Stock Exchange on June 15th, Jiangsu Dingtai Pharmaceutical Research Co., Ltd. (referred to as Dingtai Pharmaceuticals) has submitted an application to the main board of the Hong Kong Stock Exchange, with Citigroup and HAITONG INT'L as joint sponsors. The company had previously submitted an application for listing to the Hong Kong Stock Exchange on October 31st, 2025. Company Profile Dingtai Pharmaceuticals was established in 2008 and is a new type of Contract Research Organization (CRO) dedicated to providing integrated solutions based on disease biology for global pharmaceutical companies and research institutions. The company is highly focused on clinical value and has accumulated deep expertise and extensive experience in the fields of cardiovascular and metabolic diseases, central nervous system disorders, ophthalmology, autoimmune diseases, and oncology. According to data from Frost & Sullivan, based on relevant revenue in 2025, the company is the largest CRO in the non-clinical research field of cardiovascular and metabolic diseases in China. The company has established one of the most comprehensive collections of non-human primate (NHP) disease models in China, supporting key non-clinical research in various disease areas. With its disease model layout, the company ranked as the third largest CRO in China in terms of efficacy research in 2025 based on relevant revenue. Financial Information Revenue In the fiscal years 2023, 2024, and 2025, the company recorded revenues of 767 million RMB, 713 million RMB, and 750 million RMB, respectively. Gross Profit In the fiscal years 2023, 2024, and 2025, the company's gross profits were approximately 360 million RMB, 214 million RMB, and 259 million RMB, respectively. Net Profit for the Year/Period In the fiscal years 2023, 2024, and 2025, the company recorded net profits (losses) of -51.946 million RMB, -252 million RMB, and 79.963 million RMB, respectively. Industry Overview Data shows that the original drug market is expected to continue growing at a compound annual growth rate of 8.5% from 2024 to 2029, reaching a market size of 170 billion USD in 2029. From 2029 to 2034, the original drug market is estimated to grow at a higher compound annual growth rate of 10.3%, driving the market size to 277.2 billion USD by 2034. This strong growth is primarily driven by policy support for innovative drugs, increased research and development investments, and clinical demand unleashed by aging populations. Due to policies such as centralized bulk purchasing, the market for generic and biosimilar drugs is expected to decrease from 113.4 billion USD in 2024 to 106.2 billion USD in 2029. Under the combined drive of favorable policies, innovative technologies such as artificial intelligence, and a more open and collaborative research and development model with professional service providers, China Meheco Group's research and development is shifting from "me-too and me-better" products to innovations that are first of their kind or best in class. From 2021 to 2025, over 14,500 IND applications for innovative drugs in major therapeutic areas have been submitted to the National Medical Products Administration. In 2025, Chinese pharmaceutical companies are accelerating global expansion through diversified licensing transactions, with transaction values exceeding 130 billion USD. As the Chinese pharmaceutical industry increasingly relies on the scientific expertise, cost-effectiveness, and clinical resources of CROs, deep cooperation between innovative drug companies and CROs is expected to reshape the global innovative pharmaceutical landscape and the CRO industry. The global CRO services market is experiencing significant growth, with a market size of 111 billion USD in 2025. The compound annual growth rate from 2021 to 2025 is 11.1%. Looking ahead, the global CRO services market is expected to continue expanding, reaching 168.4 billion USD by 2030, with a compound annual growth rate from 2025 to 2030 of 8.6%, further growing to 213.5 billion USD by 2035, with a compound annual growth rate from 2030 to 2035 of 5.0%. In the field of therapy, oncology and cardiovascular metabolic diseases constitute the core areas of current CRO services due to their large market size and significant growth rates. Subsegments such as CNS diseases and ophthalmology are also experiencing steady growth, gradually forming a diversified development pattern within the CRO industry. From 2021 to 2025, the growth of China's CRO services market exceeds the global average, with a compound annual growth rate of 16.3%. The Chinese CRO services market is expected to maintain a rapid growth momentum. In 2025, the market size is 17 billion USD, projected to reach 28.6 billion USD by 2030, with a compound annual growth rate from 2025 to 2030 of 11.0%, further growing to 40.8 billion USD by 2035, with a compound annual growth rate from 2030 to 2035 of 7.4%. Board of Directors Information After listing, the board of directors will consist of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors. Equity Structure Nanjing Ruizhang is a limited partnership enterprise established in China on July 26th, 2024. As of the final feasible date, the company is owned by Mr. Zhang, a general partner, with 0.0097%, and Ruihua, a limited partner, with 99.9903%. Ruiahua is fully owned by Ruihua Venture Capital, of which Mr. Zhang Jianbin owns 98.8226%. Intermediary Team Joint Sponsors: Citigroup Global Markets Asia Limited, HAITONG INT'L Capital Limited Company Legal Advisors: Nian Li Da Law Firm, Shanghai Tongli Law Firm Legal Advisors for Joint Sponsors: King & Wood Mallesons Hong Kong, JunHe LLP Auditors and Reporting Accountants: KPMG Certified Public Accountants Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Advisor: MaiShi Capital Limited

Preview of new shares | Betting on the next generation of interconnection: How deep is the moat of SeaLight Silicon's technology?

HK Stock Market Move | LAOPU GOLD (06181) falls over 5% again, Citigroup significantly downgrades the company's target price, while JP Morgan points out that the market is underestimating the company's efforts to deal with gold price fluctuations.

HK Stock Market Move | CNBM (03323) rose nearly 3% as electronic cloth prices have been raised multiple times this year. Institutions point out that there is still a gap in high-end electronic cloth.

Preview of new shares | Betting on the next generation of interconnection: How deep is the moat of SeaLight Silicon's technology?

HK Stock Market Move | CNBM (03323) rose nearly 3% as electronic cloth prices have been raised multiple times this year. Institutions point out that there is still a gap in high-end electronic cloth.