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On August 25, the China Securities Regulatory Commission announced the list of overseas securities issued by domestic enterprises and listing records (initial public offerings and full circulation) (as of August 24, 2023). This week (August 21-25), a total of 3 companies are planning to receive materials from the Securities Regulatory Commission for their Hong Kong IPO. These three companies are respectively$Sunho Biologics (810523.HK)$,$BrainAurora Medical Technology Limited (810524.HK)$,$KK Technology (810151.HK)$.
The 3 new registered companies to be listed in Hong Kong are as follows:
Shenghe Biology
Shenghe Biotech's application type is indirect overseas listing. The subject of the filing application is Shenghe (China) Biopharmaceuticals Co., Ltd. The filing acceptance date is August 21, 2023. Beijing Jingtian Gongcheng Law Firm is its domestic lawyer. Recently, Shenghe Biotech submitted a submission to the Hong Kong Stock Exchange that it plans to apply for listing on the Main Board.
According to public information, Shenghe Biotech is a biopharmaceutical company committed to discovering, developing and commercializing the first-of-it/best-in-class biologics to regulate the immune microenvironment by directly regulating the innate and adaptive immune systems. According to Frost & Sullivan, Shenghe Biotech is one of the world's leading companies developing antibody cytokine products, and is one of the few pioneers with antibody cytokine candidates with the fastest clinical progress.
BrainAurora Medical Technology Limited (BrainAurora Medical Technology Co., Ltd.) (hereinafter referred to as BrainAurora)
The filing type for Brainstorming Aurora is an indirect overseas listing. The subject of the filing application is Zhejiang Neodong Aurora Medical Technology Co., Ltd. The filing date is August 22, 2023, and Beijing Commerce Law Firm is its domestic lawyer. Recently, Brainstorming Aurora submitted a listing application to the main board of the Hong Kong Stock Exchange in an attempt to impact the “first share of digital therapy” in China.
According to the prospectus, Brainstorming Aurora focuses on the digital therapy market for cognitive impairment in China. Its core product “brain function information management platform software system” combines “brain science+AI” technology and can be used to evaluate and intervene in cognitive impairment caused by various diseases. The so-called digital therapeutics (DTx), as defined by the International Digital Therapy Alliance, is the delivery of therapeutic interventions driven by high-quality software programs and based on evidence-based medical evidence to patients to treat, manage, and prevent medical problems or diseases.
KK Group Company Holdings Limited (hereinafter referred to as KK Group)
The filing type of KK Group is an indirect overseas listing. The subject of the filing application is Hainan Xingke Commercial Management Co., Ltd. The filing date is August 23, 2023. Beijing Jingtian Gongcheng Law Firm is its domestic lawyer. On July 31, KK Group submitted a prospectus to the Hong Kong Stock Exchange, and for the third time, it launched a sprint towards the Hong Kong stock “the first stock in trendy retail.” Prior to that, the company had submitted prospectuses to the Hong Kong Stock Exchange twice in November 2021 and January 2023, respectively, but they all expired due to “overtime”.
According to public information, the history of KK Group began in 2015. In that year, Guangdong Express E-Commerce Co., Ltd., the parent company to which the group belongs, was incorporated and opened the first “KK Hall” store, which mainly sells imported FMCG products such as beauty and snacks. According to the Frost & Sullivan Report, in terms of GMV, KK Group is one of the top three lifestyle consumer goods retailers in China in 2022, and is the fastest-growing lifestyle consumer goods retailer among the top ten market participants in China. The GMV compound annual growth rate from 2019 to 2022 was 88.6%.