The Zhitong Finance App learned that A-share pharmaceutical leader Hengrui Pharmaceutical (600276.SH) is preparing to raise capital for the Hong Kong IPO in 2025. According to reports, Hengrui Pharmaceuticals selected Citibank and Damo to take the lead in coordinating the Hong Kong IPO, and plans to raise about 2 billion US dollars (equivalent to HK$15.55 billion).

Hengrui Pharmaceutical announced in mid-October that it is interested in raising capital for an IPO in Hong Kong. Hengrui Pharmaceutical issued an announcement on the Shanghai Stock Exchange at the time, admitting that it is studying overseas financing and is in the early stages of work. There is significant uncertainty about the specific implementation method and implementation time.

Hengrui Pharmaceutical focuses on the development and sale of new drugs in the fields of anti-tumor, metabolic diseases, autoimmune diseases, respiratory diseases, neurological diseases, etc. Currently, it has developed 15 “self-developed Class 1” innovative drugs, including the prostate cancer drug “Revilumide” and the lung cancer drug “carrilizumab,” 4 “self-developed Class 2” new drugs, and 2 introduced innovative drugs. More than 90 independent innovative products are being clinically developed, and more than 300 clinical trials are being carried out at home and abroad.

On the evening of October 24, Hengrui Pharmaceutical announced its results report for the third quarter of 2024. In the first three quarters, Hengrui Pharmaceutical achieved operating income of 20.189 billion yuan, an increase of 18.67% year on year, net profit attributable to shareholders of listed companies of 4.62 billion yuan, an increase of 32.98% year on year, and net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss of 4.616 billion yuan, an increase of 37.38% year on year.