According to the news of the Hong Kong Stock Exchange on December 15, Edding Group submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Morgan Stanley and Credit Suisse as co-sponsors, Zhitong Financial APP learned. It is worth noting that the company previously submitted its prospectus to the HKEx on September 23, 2020, March 29, 2021 and June 25, respectively.

The company is an integrated pharmaceutical company with a strategic focus on anti-infection, cardiovascular disease and respiratory system. According to Frost Sullivan, these areas are the largest and fastest-growing areas of treatment. In 2020, anti-infection is the fourth largest treatment field in China, with a market size of 174.2 billion yuan (the same below), accounting for 12% of the entire Chinese pharmaceutical market. Cardiovascular disease is the third largest treatment field in China, with the highest disease burden, with a market size of 176.1 billion yuan in 2020. Respiratory system is one of the fastest growing emerging treatment areas, with a market size of 68.3 billion yuan in 2020, and is expected to grow at a compound annual growth rate of 13% from 2020 to 121.6 billion yuan in 2025.

The company has established a diversified product portfolio, including six core products. With two leading anti-infection brands, reliable and diligent, the company began to promote and sell these two products in China in January 2017. The company acquired the core respiratory system product fluticasone propionate aerosol inhalation suspension (FPN) from GSK in May 2020, FPN is the latest generation of inhaled glucocorticoid (ICS) atomizer for the treatment of asthma.

In 2017, 2018, 2019 and 2020 and the six months ended 30 June 2020 and 2021, the company's revenue was 1.7869 billion yuan, 1.4781 billion yuan, 1.8749 billion yuan, 1.7678 billion yuan, 594.8 million yuan and 853 million yuan respectively. During the business record period, the company's revenue mainly comes from core commercial products.

In 2017, 2018, 2019 and 2020 and the six months ending June 30, 2020 and 2021, the income generated by credibility was 869.9 million yuan, 795.2 million yuan, 726.6 million yuan, 1.0189 billion yuan, 365.8 million yuan and 324.2 million yuan respectively. During the same period, the income generated by hard work was 389.8 million yuan, 245.1 million yuan, 280.5 million yuan, 477.4 million yuan, 152.1 million yuan and 273.8 million yuan respectively. The revenue generated by FPN in 2020 and for the six months ended 30 June 2020 and 2021 was $91.8 million, $12.9 million and $49.4 million respectively.

In 2017 and 2018 and for the six months ended June 30, 2020, the company recorded net losses of $38.5 million, $215.4 million and $43.6 million respectively. In 2019 and 2020, and for the six months ended June 30, 2021, the company recorded net profits of $172.9 million, $86.9 million and $26.9 million respectively.