华芢生物－Ｂ 02396Prospectus Information

Prospectus Information
返回 Stock Info Prospectus Allotment Results Allotment Profile Expected Lots
IPO Timeline
Broker Deadline
2025-12-17
Morning deadline
HKEX Deadline
2025-12-17
Noon deadline
Broker Results (T-2)
2025-12-18
Some brokers release in afternoon
Grey Market (T-1)
2025-12-19
Afternoon
HKEX Allotment (T-1)
2025-12-19
Evening
Registrar Allotment (T-1)
2025-12-19
Evening
Listing Day (T)
2025-12-22
First day of trading
Company Overview
Stock Name华芢生物－Ｂ
Stock Code02396
Company Full Name华芢生物－Ｂ
IndustryHealthcare
Principal Activities我们是一家总部位于中国的生物制药公司，致力于开发各类疗法，重点是针对有医疗需求及市场机会的适应症开发蛋白质药物。我们的主攻方向是发现、开发和商业化伤口愈合的疗法，目前为血小板衍生生长因子（PDGF）药物。
Listing Date2025-12-22
Listing Rules EraNew Rules (after Aug 2025)
Listing Rules Chapter18A生物科技
Weighted Voting Rights (WVR)No
Registered Address (Mainland China)中國山東省 青島市嶗山區 秦嶺路19號協信中心 1號樓1507室
Business Address (Hong Kong)香港 銅鑼灣 希慎道33號 利園一期19樓1915室
Place of IncorporationTo be extracted
Listing MethodTo be extracted
Listing BoardMain Board
Websitehuarenshengwu.com
Share Registrar卓佳证券登记有限公司 (Tricor Investor Services Limited)
Registrar Contact(852)2980 1333
A-Share/US Dual ListingNo
Offering Information
Offering Mechanism Mechanism B
Offer PriceHK$ 38.20 / shares
Offer Price RangeFinal offer price only, no range
Lot Size200 shares
Entry ThresholdHK$ 7,640
Par ValueRMB 1.0 / shares
Offer Period2025-12-12 to 2025-12-17
Global Offering Shares17,648,800 shares
HK Public Offer Shares (Initial)1,765,000 shares (10.0%)
Public Offer Lots (Initial)8,825lots (4,412lots, 4,413lots)
International Placing Shares (Initial)15,883,800 shares (90.0%)
Offer Ratio~15.0%
Total Shares Post-IPO117,657,522 shares
Greenshoe (Over-allotment Option)No
Stabilizing Manager (Greenshoe)—
Cornerstone Share0%
Clawback Tiers机制B-无回补
Reallocation OptionNo
Total Global Offering SizeHK$ 674,184,160
Subscription Tiers

Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.

Pool A
Lots SubscribedShares SubscribedSubscription Amount (HKD)
1 lots 200 HK$ 7,640
2 lots 400 HK$ 15,280
3 lots 600 HK$ 22,920
4 lots 800 HK$ 30,560
5 lots 1,000 HK$ 38,200
6 lots 1,200 HK$ 45,840
7 lots 1,400 HK$ 53,480
8 lots 1,600 HK$ 61,120
9 lots 1,800 HK$ 68,760
10 lots 2,000 HK$ 76,400
15 lots 3,000 HK$ 114,600
20 lots 4,000 HK$ 152,800
25 lots 5,000 HK$ 191,000
30 lots 6,000 HK$ 229,200
35 lots 7,000 HK$ 267,400
40 lots 8,000 HK$ 305,600
45 lots 9,000 HK$ 343,800
50 lots 10,000 HK$ 382,000
100 lots 20,000 HK$ 764,000
150 lots 30,000 HK$ 1,146,000
200 lots 40,000 HK$ 1,528,000
250 lots 50,000 HK$ 1,910,000
300 lots 60,000 HK$ 2,292,000
350 lots 70,000 HK$ 2,674,000
400 lots 80,000 HK$ 3,056,000
450 lots 90,000 HK$ 3,438,000
500 lots 100,000 HK$ 3,820,000
Pool B
Lots SubscribedShares SubscribedSubscription Amount (HKD)
750 lots 150,000 HK$ 5,730,000
1,000 lots 200,000 HK$ 7,640,000
1,250 lots 250,000 HK$ 9,550,000
1,500 lots 300,000 HK$ 11,460,000
1,750 lots 350,000 HK$ 13,370,000
2,000 lots 400,000 HK$ 15,280,000
2,250 lots 450,000 HK$ 17,190,000
2,500 lots 500,000 HK$ 19,100,000
3,000 lots 600,000 HK$ 22,920,000
3,500 lots 700,000 HK$ 26,740,000
4,412 lots 882,400 HK$ 33,707,680
Valuation & Financials
Market Cap (at Offer Price)HK$ 4,494,517,340
Pre-IPO Valuation (Last Round)To be extracted
P/E Ratio不适用（公司处于亏损状态）
Profit/Loss Status亏损人民币212.3百万元
Period-End Cash BalanceTo be extracted
Listing Expenses~HK$ 78,300,000
Listing Expenses / Funds Raised~11.61%
Total Pre-IPO InvestmentTo be extracted
First Day Performance
First Day CloseHK$ 27.0
First Day OpenHK$ 33.8
First Day Change-29.32%
First Day Volume4989600.0
First Day Turnover188795000.0
Use of Proceeds
Use of Proceeds1、約61.8%或437.6百萬港元，將用于資助公司核心產品Pro101-1及Pro-101-2的持續臨床開發及商業化； 2、約18.8%或133.5百萬港元，將用于通過購買與研發及質量控制活動相關的專業設備及儀器來提升公司研發能力； 3、約6.3%或44.5百萬港元，將用于支付公司核心產品以外的PDGF產品用于治療其他適應癥的持續臨床前研發的第三方服務費、研發人員費用及原材料成本； 4、約3.1%或22.3百萬港元，將用于支付Mes-201、Oli-101及Oli201臨床前研發活動的第三方服務費、研發人員費用及原材料成本； 5、約10.0%或70.9百萬港元，用作營運資金及一般公司用途。
Underwriting Syndicate
Joint Sponsors (2)
华泰金融控股（香港）有限公司 CE AOK809 中信证券（香港）有限公司 CE AAK249
Overall Coordinators (7)
华泰金融控股（香港）有限公司 CE AOK809 中信里昂证券有限公司 CE AAB893 招商证券（香港）有限公司 CE AAI650 民银证券有限公司 CE APU820 中国银河国际证券（香港）有限公司 CE AXM459 国联证券国际金融有限公司 CE BPX918 招银国际融资有限公司 CE AVM940
Joint Bookrunners (12)
华泰金融控股（香港）有限公司 CE AOK809 中信里昂证券有限公司 CE AAB893 招商证券（香港）有限公司 CE AAI650 民银证券有限公司 CE APU820 中国银河国际证券（香港）有限公司 CE AXM459 国联证券国际金融有限公司 CE BPX918 招银国际融资有限公司 CE AVM940 中州国际证券有限公司 CE BFI947 富途证券国际（香港）有限公司 CE AZT137 华福国际证券有限公司 CE BQC241 利弗莫尔证券有限公司 CE BJN764 浦银国际融资有限公司 CE BFZ375
Joint Lead Managers (15)
华泰金融控股（香港）有限公司 CE AOK809 中信里昂证券有限公司 CE AAB893 招商证券（香港）有限公司 CE AAI650 民银证券有限公司 CE APU820 中国银河国际证券（香港）有限公司 CE AXM459 国联证券国际金融有限公司 CE BPX918 招银国际融资有限公司 CE AVM940 中州国际证券有限公司 CE BFI947 富途证券国际（香港）有限公司 CE AZT137 华福国际证券有限公司 CE BQC241 利弗莫尔证券有限公司 CE BJN764 浦银国际融资有限公司 CE BFZ375 富强证券有限公司 CE AHQ488 Zinvest Global Limited CE BJJ179 盈宝证券国际（香港）有限公司 CE BRG131
Cornerstone Investors
This stock has no cornerstone investors.
Directors & Management
Chairman贾丽加
Company Secretary何鴻添
No director data available.
Major Shareholders
Major Shareholders & Holdings截至最后实际可行日期，贾女士、王先生、张女士及李先生分别直接持有我们已发行股本总额约19.54%、17.98%、17.47%及12.00%。根据一致行动人协议，贾女士、王先生、张女士及李先生共同控制截至最后实际可行日期本公司已发行股本总额约66.99%的表决权，就上市规则而言，贾女士、王先生、张女士及李先生被视为一组控股股东。
AI AI Analysis
!
The following content is generated by an AI model based on historical IPO data. It does NOT constitute investment advice, solicitation, or recommendation. Past subscription patterns and post-listing performance do not guarantee future results. Data may contain inaccuracies — always verify against official HKEX filings and prospectuses before making any investment decision.

Market Sentiment

华芢生物－Ｂ IPO attracted overwhelming retail demand, with an oversubscription ratio of 791.95 times, leading to a low hit rate of just 5.44%. This indicates fierce competition for allocations and strong market enthusiasm for this 18A biotech listing. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Tier Analysis

A notable tier allocation anomaly exists: 甲尾 (A-tail) applicants with 90,000 shares expected only 0.1375 lots, while 乙头 (B-head) applicants with 100,000 shares expected a significantly higher 0.6003 lots. This extreme disparity suggests that the allocation curve is highly convex at this boundary, making B-head applications disproportionately more efficient for those who can reach the threshold. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Demographics

The applicant pool shows a strong mainland China presence at 64.2%, indicating high cross-border interest in this biotech IPO. Male investors dominate at 63.3%, with an average age of 45.2, consistent with typical HK IPO demographics but with a notably high mainland share. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

AI-generated content. For informational purposes only. Not financial advice. Verify against official sources.
Offering Structure
Subscription Tiers
IPO Timeline
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