Futu news reported on November 28th, $JIUYUAN GENE (02566.HK)$ On the first day, it opened lower, dropping 39.61%. As of the time of publication, it reported 7.5 Hong Kong dollars, with a transaction value of 83.8925 million Hong Kong dollars and a total market value of 1.84 billion Hong Kong dollars.

Market source: Futu Securities.

According to previous reports, in the last trading day’s Futu dark trading, Jiuyuan Gene opened lower in the dark trading, closing down 28.42% at 8.89 Hong Kong dollars, with a transaction value of 29.3018 million Hong Kong dollars and a total market value of 2.182 billion Hong Kong dollars; for each lot of 200 shares, excluding handling fees, the loss per lot was 706 Hong Kong dollars.

During the public offering stage, Jiuyuan Gene received 675.83 times subscription, with the final number of publicly offered shares being 22.6994 million shares, accounting for about 50% of the total number of offered shares. A total of 30,759 valid applications were received, with 21,276 applications accepted. The estimated percentage of H shares allocated for each lot of 200 shares applied for is about 20.01%.

In addition, during the international placement stage, Jiuyuan Gene received 1.18 times subscription, with the final number of international offered shares being 22.6994 million shares, equivalent to 50% of the total number of offered shares. Futu news compiled the relevant data as shown in the table below:

Company overview

Jiuyuan Genetics is a chinese biopharmaceutical company that does not engage in genetic engineering. It has over 30 years of experience in the research, development, production, and commercialization of biological products and medical devices. Jiuyuan Genetics focuses on four main therapeutic areas: orthopedics, metabolic diseases, oncology, and hematology; its product portfolio includes a medical device combination, two biological products, and five chemical drugs in the orthopedic, oncology, and hematology fields.

By market share based on revenue in 2023, Jiuyuan Biopharma's products are among the first commercially approved domestic products in their respective product categories and maintain a competitive position. The most remarkable is its medical device combination product Osteoport, which, according to Zhishi Consulting, is China's first approved sales of rhBMP-2 bone repair material, ranking first in the 2023 Chinese bone repair material market based on sales revenue.

Financial overview

In terms of financial overview, Jiuyuan Gene achieved gross profits of RMB 0.95 billion, 0.854 billion, and 0.991 billion respectively in 2021, 2022, and 2023, with a compound annual growth rate of 2.096%; during the same period, the company's revenues were RMB 1.307 billion, 1.125 billion, and 1.287 billion.

Intended Use of Funds

In terms of fundraising purposes, Jiuyuan Gene expects to raise a net amount of approximately 0.485 billion Hong Kong dollars from the global offering (calculated at an issue price of 12.42 HKD). According to the prospectus, Jiuyuan Gene intends to use the funds raised from the global offering for the following purposes:

Approximately 40.0% will be allocated to the continued research and development of selected products in the company's strategic key treatment areas; approximately 30.0% will be used for marketing and commercialization of the company's existing and near-commercialization products; approximately 10.0% will be used to seek strategic collaborations to enrich the company's product portfolio in targeted treatment areas; approximately 10.0% will be used for the company's manufacturing system to build new production lines and upgrade and further automate existing production facilities; approximately 10.0% will be allocated to working capital and other general corporate purposes.

Futu draws new shares, truly 0 interest, 0 commission, dark pool trading one step ahead.Come and experience it now>>

Editor/Afina