Source: Cailian Press
According to Livermore Securities, as of the time of writing, this week (October 6th - October 12th) saw three companies file with the Hong Kong Stock Exchange, five companies conducting initial public offerings, and three new stocks listed.
First, regarding the filings, a total of three companies submitted listing applications this week:
1) On October 8th, Tanboer Group Co., Ltd. filed for the Main Board of the Hong Kong Stock Exchange, with CICC acting as the sole sponsor.
According to the prospectus, $Tanboer Group Co., Ltd. (810925.HK)$ is a leading professional outdoor apparel brand in China. The company's products are based on superior quality, user-centric design, and advanced technology and craftsmanship, catering to various natural environment activities such as skiing, mountaineering, and hiking, as well as urban scenarios like excursions, park leisure, and commuting, redefining trends in outdoor lifestyles. According to Frost & Sullivan, in terms of retail sales in 2024, the company ranks as the fourth largest domestic professional outdoor apparel brand in China.
In terms of financials, for the fiscal years 2022, 2023, 2024, and the six months ended June 30, 2025, the company reported revenues of approximately RMB 732 million, RMB 1.021 billion, RMB 1.302 billion, and RMB 658 million, respectively; during the same periods, annual/period profits were approximately RMB 85.774 million, RMB 139 million, RMB 107 million, and RMB 35.937 million, respectively.
2) On October 8th, Chengyi Biotechnology Cayman Limited filed for the Main Board of the Hong Kong Stock Exchange, with Jefferies, Bank of America, and CICC serving as joint sponsors.
The prospectus shows, $Eccogene Inc. (810926.HK)$ is a global biotechnology company at the clinical stage, dedicated to exploring and developing next-generation oral small-molecule drugs to address significant unmet medical needs in the fields of cardiometabolic diseases and inflammatory conditions worldwide. The company leverages its proprietary TRANDD platform, with a product pipeline specifically designed for both monotherapy and combination therapies, aiming to achieve effective outcomes in weight management (obesity/overweight), metabolic dysfunction-associated steatohepatitis ('MASH'), osteoarthritis ('OA') pain, and other cardiometabolic diseases.
Financially, during the fiscal years 2023 and 2024, as well as the first half of 2025, Eccogene's revenue was approximately USD 36.059 million, USD 221 million, and USD 557,000, respectively; during the same periods, the annual/period net profit was approximately -USD 52.227 million, USD 139 million, and -USD 20.113 million, respectively.
3) On October 9, Eastroc Beverage submitted an application for listing on the Main Board of the Hong Kong Stock Exchange, with Huatai International, Morgan Stanley, and UBS Group serving as joint sponsors. The company had previously filed a listing application with the Hong Kong Stock Exchange on April 3, 2025.
The prospectus shows, $Eastroc Beverage (Group) Co., Ltd. (810720.HK)$ is China’s leading functional beverage enterprise, with revenue growth ranking first among the top 20 publicly listed soft drink companies globally. According to a Frost & Sullivan report, in terms of sales volume, Eastroc Beverage has ranked first in China’s functional beverage market for four consecutive years since 2021, with its market share increasing from 15.0% in 2021 to 26.3% in 2024. In terms of retail value, Eastroc Beverage was the second-largest functional beverage company in 2024, with a market share of 23.0%, further solidifying its leading position.
Financially, during the fiscal years 2022, 2023, 2024, and the first half of 2025, Eastroc Beverage reported revenues of approximately RMB 8.5 billion, RMB 11.257 billion, RMB 15.830 billion, and RMB 10.732 billion, respectively; during the same periods, total comprehensive income for the year was approximately RMB 1.426 billion, RMB 2.059 billion, RMB 3.364 billion, and RMB 2.348 billion, respectively.
This week, five other companies launched initial public offerings, two of which have officially listed.
1） $ZHIDA TECH (02650.HK)$ The company conducted its initial public offering from September 30 to October 6, 2025. According to the offering announcement, its public offering was oversubscribed by more than 5,000 times. On October 10, Zhi Da Technology surged 192.14% on its first day of listing, with a total market capitalization nearing HKD 11.7 billion.
2） $GOLDEN LEAF INT (08549.HK)$ The company conducted its initial public offering from September 30 to October 6, 2025. On October 10, Jinye International Group soared 330% and set a new record in the history of Hong Kong stocks with an oversubscription rate exceeding 11,500 times in its public offering, becoming the first stock to achieve "ten-thousand-fold oversubscription." However, the stock was listed on the GEM (Growth Enterprise Market) of the Hong Kong Stock Exchange, with a total market capitalization of only approximately HKD 800 million.
3） $XUANZHUBIO-B (02575.HK)$ The company conducted its initial public offering from October 6 to October 10, 2025. It plans to offer 67,333,500 shares globally, with 10% allocated for the Hong Kong offering and 90% for the international offering, along with a 15% over-allotment option. The issue price per share is HKD 11.6. Each lot consists of 500 shares, and trading of the shares on the Hong Kong Stock Exchange is expected to commence on October 15, 2025.
4） $YUNJI (02670.HK)$ : The company is offering shares from October 8 to October 13, 2025. It plans to conduct a global offering of 6.9 million H-shares, including 345,000 shares for the Hong Kong public offering and 6.555 million shares for the international offering, with an additional 15% over-allotment option. The issue price is HKD 95.6 per share. Each lot consists of 50 shares, and trading is expected to commence on the Stock Exchange on October 16, 2025.
5） $HAIXI PHARMA (02637.HK)$ : The company is offering shares from October 9 to October 14, 2025, with a global offering of 11.5 million shares. Approximately 10% will be allocated to the Hong Kong public offering, and approximately 90% to the international offering. The issue price ranges from HKD 69.88 to HKD 86.40 per share. Each lot consists of 50 shares, and trading of H-shares is expected to begin at 9:00 a.m. on October 17, 2025, on the Stock Exchange.
Additionally, on October 8, $CF PHARMTECH (02652.HK)$ The stock surged 161.02% on its first day of listing but experienced some downward volatility in the following days. As of October 10, the stock still achieved a doubling in value during its first week, with a total market capitalization reaching HKD 12.7 billion.
According to information, the proceeds from this fundraising will primarily be used for the ongoing R&D and clinical development of existing inhalation drug candidates domestically and internationally. Currently, Changfeng Pharmaceuticals has two commercialized products in the domestic market. Notably, through the commercialization of its marketed products, Changfeng Pharmaceuticals has become one of the few newly listed pharmaceutical companies on the Hong Kong Stock Exchange to achieve positive net profits.
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Editor/jayden
