The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on June 25, Edding Group Company Limited (Edding Group Company Limited) passed the Hong Kong Stock Exchange main board listing hearing, with Morgan Stanley and Credit Suisse as co-sponsors.

Yiteng Pharmaceutical is a leading pharmaceutical company in China that focuses on fighting infections, cardiovascular diseases and respiratory systems. The company's three core commercialized products include two anti-infectives (Hikelau and Stem Khalin) and a respiratory medicine (FPN). The company's future operating performance will depend in part on its concentration on these products, including other products and new drugs under development (such as Vascepa and Mulpleta).

According to the prospectus, Yiteng Pharmaceutical's extensive sales and marketing network consists of about 850 sales representatives, covering more than 22,000 hospitals in 31 provinces of China as of December 31, 2020.

In 2017, 2018, 2019 and 2020, the company's revenue was 1,786.9 billion yuan (RMB, same below), 1,478 million yuan, 1,875 million yuan and 1,768 million yuan respectively; profits for the same period were loss of 385.38 million yuan, loss of 215 million yuan, net profit of 173 million yuan and 86.939 million yuan respectively. The company's revenue mainly came from pharmaceutical sales.

Yiteng Pharmaceutical is largely dependent on, and its revenue mainly comes from core commercial products. In 2017-2020, Stable Trust generated revenue of $869.9 million, $795.2 million, $726.6 million and $1,018.9 million respectively; Hikerau generated revenue of $389.8 million, $245.1 million, $280.5 million and $477.4 million respectively. The company purchased the core respiratory system product fluticasone propionate atomized inhalation suspension (FPN) from GSK in May 2020. In 2020, FPN generated revenue of 91.8 million yuan.

The company plans to use the proceeds raised to 1) continue to develop alternative products; 2) further enrich the product portfolio; 3) expand and upgrade production and R&D facilities; 4) repay part of the syndicated loans used to acquire the Singapore branch of Credit Suisse Bank Co., Ltd., SPDB International (Hong Kong) Limited and Ace City Venture Limited; 5) working capital and general corporate purposes.