轩竹生物－Ｂ 02575Prospectus Information

Prospectus Information
返回 Stock Info Prospectus Allotment Results Allotment Profile Expected Lots
IPO Timeline
Broker Deadline
2025-10-10
Morning deadline
HKEX Deadline
2025-10-10
Noon deadline
Broker Results (T-2)
2025-10-13
Some brokers release in afternoon
Grey Market (T-1)
2025-10-14
Afternoon
HKEX Allotment (T-1)
2025-10-14
Evening
Registrar Allotment (T-1)
2025-10-14
Evening
Listing Day (T)
2025-10-15
First day of trading
Company Overview
Stock Name轩竹生物－Ｂ
Stock Code02575
Company Full Name轩竹生物－Ｂ
IndustryBiotech & Pharma
Principal Activitiessevere disease that is characterized by liver cirrhosis, fibrosis, and eventually failure and an increased risk of liver cancer
Listing Date2025-10-15
Listing Rules EraNew Rules (after Aug 2025)
Listing Rules ChapterChapter 18A
Weighted Voting Rights (WVR)No
Registered Address (Mainland China)203C507 Beijing-Tianjin-Hebei Collaborative Innovation Demonstration Park No. 769 Taihang Street, Hi-Tech District Shijiazhuang, Hebei Province PRC Head Office and Principal Place of 2107, Building 2
Business Address (Hong Kong)灣仔 皇后大道東183號 合和中心 46樓
Place of IncorporationTo be extracted
Listing MethodTo be extracted
Listing BoardMain Board
Websitexuanzhubio.com
Share Registrar卓佳证券登记有限公司 (Tricor Investor Services Limited)
Registrar ContactComputershare Hong Kong Investor
A-Share/US Dual ListingNo
Offering Information
Offering Mechanism Mechanism B
Offer PriceHK$ 11.60 / shares
Offer Price RangeFinal offer price only, no range
Lot Size500 shares
Entry ThresholdHK$ 5,800
Par ValueRMB 1.0 / shares
Offer Period2025-10-06 to 2025-10-10
Global Offering Shares67,333,500 shares
HK Public Offer Shares (Initial)6,733,500 shares (10.0%)
Public Offer Lots (Initial)13,467lots (6,733lots, 6,734lots)
International Placing Shares (Initial)60,600,000 shares (90.0%)
Offer Ratio~13.0%
Total Shares Post-IPO517,947,790 shares
Greenshoe (Over-allotment Option)No
Stabilizing Manager (Greenshoe)—
Cornerstone Share9.8%
Clawback Tiers机制B-无回补
Reallocation OptionNo
Total Global Offering SizeHK$ 781,068,600
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 500 HK$ 5,800
2 lots 1,000 HK$ 11,600
3 lots 1,500 HK$ 17,400
4 lots 2,000 HK$ 23,200
5 lots 2,500 HK$ 29,000
6 lots 3,000 HK$ 34,800
7 lots 3,500 HK$ 40,600
8 lots 4,000 HK$ 46,400
9 lots 4,500 HK$ 52,200
10 lots 5,000 HK$ 58,000
12 lots 6,000 HK$ 69,600
14 lots 7,000 HK$ 81,200
16 lots 8,000 HK$ 92,800
18 lots 9,000 HK$ 104,400
20 lots 10,000 HK$ 116,000
30 lots 15,000 HK$ 174,000
40 lots 20,000 HK$ 232,000
50 lots 25,000 HK$ 290,000
60 lots 30,000 HK$ 348,000
70 lots 35,000 HK$ 406,000
80 lots 40,000 HK$ 464,000
90 lots 45,000 HK$ 522,000
100 lots 50,000 HK$ 580,000
120 lots 60,000 HK$ 696,000
140 lots 70,000 HK$ 812,000
160 lots 80,000 HK$ 928,000
180 lots 90,000 HK$ 1,044,000
200 lots 100,000 HK$ 1,160,000
400 lots 200,000 HK$ 2,320,000
600 lots 300,000 HK$ 3,480,000
800 lots 400,000 HK$ 4,640,000
Pool B
Lots SubscribedShares SubscribedSubscription Amount (HKD)
1,000 lots 500,000 HK$ 5,800,000
1,200 lots 600,000 HK$ 6,960,000
1,400 lots 700,000 HK$ 8,120,000
1,600 lots 800,000 HK$ 9,280,000
1,800 lots 900,000 HK$ 10,440,000
2,000 lots 1,000,000 HK$ 11,600,000
3,000 lots 1,500,000 HK$ 17,400,000
4,000 lots 2,000,000 HK$ 23,200,000
6,733 lots 3,366,500 HK$ 39,051,400
Valuation & Financials
Market Cap (at Offer Price)HK$ 6,008,194,364
Pre-IPO Valuation (Last Round)To be extracted
P/E Ratio不适用（公司处于亏损状态）
Profit/Loss StatusNet loss RMB300.6 million
Period-End Cash Balance人民币142,900,000元
Listing Expenses~HK$ 80,100,000
Listing Expenses / Funds Raised~10.26%
Total Pre-IPO InvestmentTo be extracted
First Day Performance
First Day CloseHK$ 26.3
First Day OpenHK$ 29.46
First Day Change126.72%
First Day Volume14744300.0
First Day Turnover429530000.0
Use of Proceeds
Use of Proceeds1、約45.0%或315.4百萬港元將用于我們核心產品（即KBP-3571、XZP-3287及 XZP-3621）的研究及開發; 2、約14.0%或98.1百萬港元將用于我們關鍵產品（即KM602、KM501、 XZP-7797及XZP-6924）的研發; 3、約 11.0% 或 77.1 百萬港元將用于為其他候選藥物（包括 XZB-0004、 XZP-5610、XZP-6019及XZP-6877）的研發撥資; 4、約20.0%或140.2百萬港元將被分配用于增強我們的商業化及市場營銷能力； 5、約10.0%或70.1百萬港元將用于營運資金及其他一般公司用途。
Underwriting Syndicate
Sole Sponsor (1)
中国国际金融香港证券有限公司 CE AEN894(sole)
Sponsor cum Overall Coordinator (1)
中国国际金融香港证券有限公司 CE AEN894(sole)
Joint Global Coordinators (2)
中国国际金融香港证券有限公司 CE AEN894 招银国际融资有限公司 CE AVM940
Joint Bookrunners (2)
中国国际金融香港证券有限公司 CE AEN894 招银国际融资有限公司 CE AVM940
Joint Lead Managers (2)
中国国际金融香港证券有限公司 CE AEN894 招银国际融资有限公司 CE AVM940
Capital Market Intermediaries (2)
中国国际金融香港证券有限公司 CE AEN894 招银国际融资有限公司 CE AVM940
Service Providers
RoleInstitution
Legal Advisor to Company 凯易律师事务所
方达律师事务所
Legal Advisor to Sponsors/Underwriters 欧华律师事务所
竞天公诚律师事务所
Auditor and Reporting Accountant 安永会计师事务所
Industry Advisor 灼识行业咨询有限公司
Compliance Advisor 第一上海融资有限公司 CE AES612
Receiving Banks 招商永隆银行有限公司
中信银行（国际）有限公司
Cornerstone Investors
#Investor NameInvestment AmountShares Subscribed% of Offer Shares% of Total SharesLock-up PeriodEst. Unlock Date
1 德诺瑞朗十五期 76,600,000 HKD 6,603,000 9.81% 1.27% 6 months 2026-04-15
Directors & Management
ChairmanMs. Xu Yanjun
Company SecretaryMr. He Chengming
執行董事 (3)
#NameEnglish NameType
1 徐艳君 — 執行董事
2 李嘉逵 — 執行董事
3 史澂空 — 執行董事
非執行董事 (3)
#NameEnglish NameType
1 李惠英 — 非執行董事
2 尉丽峰 — 非執行董事
3 陈燕玲 — 非執行董事
獨立非執行董事 (6)
#NameEnglish NameType
1 刘硕 — 獨立非執行董事
2 王宇 — 獨立非執行董事
3 范智超 — 獨立非執行董事
4 卢本玉 — 獨立非執行董事
5 王晓平 — 獨立非執行董事
6 岳鑫 — 獨立非執行董事
Major Shareholders
Major Shareholders & HoldingsSUBSTANTIAL SHAREHOLDERS So far as our Directors are aware, immediately following the completion of the Global Offering and the Conversion of Unlisted Shares into H Shares, the following persons will have interests and/or short positions in the Shares or underlying Shares o
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

The IPO attracted overwhelming demand, with an oversubscription ratio of 4,908x indicating extreme retail frenzy. However, the 0% hit rate under Mechanism B with no clawback means virtually no public applicants received allocations, highlighting a very tight supply. Final pricing details are not provided, but such demand often leads to pricing at the upper end. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Tier Analysis

At the A/B boundary, 甲尾 (last A-tier) expected 0.138 lots while 乙头 (first B-tier) expected only 0.1509 lots, a marginal gain for a significantly larger capital commitment. This creates a highly inefficient tier structure, where the additional margin cost for B-head far outweighs the negligible allocation increase. Broker fee efficiency is severely compromised across all tiers given the sub-one-lot expected allocations. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Demographics

With a 0% hit rate and zero recorded holders, demographic data such as mainland participation, gender, or regional distribution is unavailable. In such extreme oversubscriptions, the absence of allocation data makes it impossible to analyze applicant demographics meaningfully. (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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