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02659 寶濟藥業－Ｂ
BAO PHARMA-B
Listing Date2025/12/10    Listing Tomorrow
Listing Price26.380
Grey Market Performance
Last updated: 09/12/2025 16:46  Refresh
  • Bright Smart
    up 51.700 +25.320 (+95.982%)
    High
    54.000
     
    Low
    45.000
    Volume
    67,300
    One Lot Profit
    +2,532.00
  • Phillip
    up 52.450 +26.070 (+98.825%)
    High
    55.200
     
    Low
    47.600
    Volume
    1,100,000
    One Lot Profit
    +2,607.00
  • Futu
    unchange -- -- (--)
     
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  • Bid
  • Ask
  • 51.550
  • (1) 300
  • 100 (1)
  • 51.700
  • 51.500
  • (1) 500
  • 0 (0)
  • 51.750
  • 51.450
  • (0) 0
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  • 51.800
  • 51.400
  • (0) 0
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  • 51.850
  • 51.350
  • (0) 0
  • 0 (0)
  • 51.900
  • 51.300
  • (0) 0
  • 100 (1)
  • 51.950
  • 51.250
  • (1) 400
  • 100 (1)
  • 52.000
  • 51.200
  • (1) 100
  • 0 (0)
  • 52.050
  • 51.150
  • (1) 700
  • 0 (0)
  • 52.100
  • 51.100
  • (1) 500
  • 0 (0)
  • 52.150
  • Bid
  • Ask
  • 52.400
  • (2) 300
  • 1K (2)
  • 52.500
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  • (3) 1.6K
  • 100 (1)
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  • (2) 2.2K
  • 500 (5)
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  • (1) 200
  • 500 (5)
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  • (4) 3.4K
  • 700 (6)
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COMPANY PROFILE

Shanghai Bao Pharmaceuticals Co. was founded in 2019, it is a biotechnology company strategically focused on four areas: large-volume subcutaneous (SC) drug delivery; antibody-mediated autoimmune conditions; assisted reproduction; and recombinant biologic products.

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The Group’s pipeline primarily consists of 12 self-developed product candidates, including three Core Products (KJ017, KJ103 and SJ02 (Slonva), four other clinical-stage candidates (BJ007, KJ015, SJ04, and KJ101), and five preclinical assets (BJ008, BJ009, BJ045, BJ047, and BJ044).

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According to the report, by 2033, the Group’s four strategic therapeutic areas are expected to have a combined clinically addressable market size of approximately RMB50 billion in China. The Group have established its own GMP-compliant manufacturing facilities in Shanghai, with a total site area of approximately 63,000 sq.m.. As of November 22, 2025, the Group maintained a reactor volume of up to 5,100L and an annual production capacity of approximately 2 million formulations.

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As of November 22, 2025, the Group’s Core Product, SJ02 has received NDA approval from the NMPA in August 2025 and two of its drug candidates have progressed into advanced trial- or NDA registration-stage in China, namely its Core Products KJ103 and KJ017.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureHealth Care
Major Business AreaChina
Board Lot100
GLOBAL OFFERING
No. of Offer Shares37.91M H shares
No. of International Offer Shares34.12M H shares
No. of HK Offer Shares3.79M H shares
Offer Price$26.38
Stock Code2659
Sponsor(s)CITIC Securities (Hong Kong) Limited, Haitong International Capital Limited
Underwriter(s)CLSA Limited, Haitong International Securities Company Limited, West Bull Securities Limited, BOCOM International Securities Limited, CCB International Capital Limited, Guoyuan Securities Brokerage (Hong Kong) Limited, Livermore Holdings Limited, Phillip Securities (Hong Kong) Limited, SDIC Securities (Hong Kong) Limited, Shenwan Hongyuan Securities (H.K.) Limited, SPDB International Capital Limited, Valuable Capital Limited, Futu Securities International (Hong Kong) Limited, Tiger Brokers (HK) Global Limited
TIME TABLE
Application PeriodDec 02 (Tue) - noon, Dec 05 (Fri)
Price Determination Date--
Result Announcement DateOn or before Dec 09 (Tue)
Result Announcement DateOn or before Dec 09 (Tue)
Result Announcement DateOn or before Dec 10 (Wed)
Dealings in Shares commence onDec 10, 2025. (Wed)
Reallocation of Shares Offered
Sales Statistics (HKD)
Offer Price$26.38
Capitalization (H Shares)4.07B
NAV / share ($)$5.85 (Unaudited pro forma adj NAV / share)
Use Of Proceeds
Assuming the offer price being at HKD 26.38, the net proceeds raised would be HKD 921.50M, of which
53.5% : Research and development and commercialization of Core Products, including KJ017, KJ103 and SJ02
17.7% : Advancement of other existing pipeline assets and preparation for any related registration filings
8.4% : Continued optimization of proprietary synthetic biology technology platforms, as well as exploration and development of new drug candidates
10.4% : Enhance and scale up manufacturing capabilities
10% : Working capital
IPO NEWS
09/12/2025 16:20
{New Stock}BAO PHARMA-B up 97.5% at HK$52.1 on grey market
Related Document
Prospectus Prospectus  Chinese VersionProspectus  English Version
Remark： The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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