United Asia Pharmaceuticals' GEM IPO has passed review, and 12 products including sustained-release metoprolol succinate tablets have been approved by NMPA for listing and sales.

On July 9th, Nantong Lianya Pharmaceutical Co., Ltd. (referred to as Lianya Pharmaceutical) passed the listing committee meeting of the Shenzhen Stock Exchange ChiNext IPO. China International Finance Co., Ltd. is its sponsor institution, and it plans to raise 950 million yuan. According to the prospectus, the company was established as a limited company by the merger of Lianya Limited on March 22, 2022. The company is a research-driven high-tech enterprise mainly engaged in the research and development, production, and sales of complex drug formulations. The company's current products include various types of sustained-release formulations and two categories of high-end generic drugs represented by low-dose drug formulations, mainly used in the fields of hypertension, coronary heart disease, diabetes, schizophrenia, female contraception, and health; the company also provides CRO services to pharmaceutical companies and research institutions with its leading drug design capabilities and formulation technology; during the reporting period, the company mainly sells products to the U.S. market, and several products have a leading market share in the U.S. Lianya Pharmaceutical has also been deeply involved in the field of CRO services for many years, and its research level has been recognized by internationally renowned pharmaceutical companies, with customers covering globally including the United States and Italy. The new drug formulations developed with the participation of CRO services have obtained NDA approvals from the FDA for two items, and several new drug formulations developed with the participation of CRO services are in phase III clinical trials. The raw materials required for the production of Lianya Pharmaceutical mainly include raw materials, excipients, packaging materials, solvents, etc., and the main suppliers during the reporting period include Moehs Group, Catalent Group, and Fabbrica. As for the main sales channels and important customers, the overseas sales of Lianya Pharmaceutical formulations are all done through a buyout distribution model, while research and other service businesses are done through direct sales; important customers include Ingenus, NorthStar, etc. As of March 31, 2026, the company has obtained NMPA approvals for the listing and sales of 12 products, including metoprolol succinate sustained-release tablets, which started sales in 2022. During the reporting period, domestic sales of formulations were through a distribution model, and direct sales were used for research and other services; important customers include SINOPHARM. By the end of the reporting period, Lianya Pharmaceutical had four products and five specifications of drug formulations designated by the FDA in the United States as Reference Standards (RS), and seven drug formulations were approved through patent challenges. According to IMS data, in 2024, the market share of amlodipine sustained-release tablets (AB1), amlodipine sustained-release tablets (AB2), diltiazem hydrochloride sustained-release capsules (AB3) all ranked first in the U.S. market, with metoprolol succinate sustained-release tablets ranking second in market share, verifying the company's research strength, product competitiveness, product quality, and international operational efficiency. In terms of finance, in the fiscal years 2023, 2024, and 2025, the company achieved operating revenues of approximately 700 million yuan, 866 million yuan, and 895 million yuan respectively, with net profits of approximately 116 million yuan, 260 million yuan, and 228 million yuan respectively.