02637 海西新藥
HAIXI PHARMA
HAIXI PHARMA
| Listing Date | 2025/10/20 |
| Listing Price | 86.400 |
Subscription Result
- Subscription Rate3,165.10x
- Guarantee One Lot Size6000 lot
- One Lot Success Rate1%
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IPO Detail
COMPANY PROFILE
Fujian Haixi Pharmaceuticals Co. Ltd. is a commercial-stage pharmaceutical company that integrates R&D, production and sales capacities, with a pipeline of innovative drug candidates.
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As of September 30, 2025, the Group’s commercialized product portfolio primarily consisted of generic drugs for digestive system diseases, cardiovascular system diseases, endocrine system diseases, nervous system diseases and inflammatory diseases. According to the report, these therapeutic areas accounted for over 25% of the total pharmaceutical sales in China in 2023.
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The Group had obtained approval from the NMPA for 15 generic drugs and established a pipeline of four innovative drug candidates as of September 30, 2025, making it a key market participant in the pharmaceutical industry in China. The flagship generic drugs in the Group’s product portfolio include Anbili, Haihuitong, Ruiantuo and Saixifu, all were selected in the national VBP schemes.
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The Group have established a global patent portfolio that consisted of 37 patents, including 18 in overseas jurisdictions covering U.S., Canada, Australia, Japan, Korea, Singapore, India and 29 European countries. The Group generated revenue from 13 approved products. The Group’s customers mainly consist of state-owned pharmaceutical distribution companies, and pharmacies and other retailers.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Health Care |
| Major Business Area | China |
| Board Lot | 50 |
GLOBAL OFFERING
| No. of Offer Shares | 11.50M H shares |
| No. of International Offer Shares | 10.35M H shares |
| No. of HK Offer Shares | 1.15M H shares |
| Offer Price | $69.88 - $86.40 |
| Stock Code | 2637 |
| Sponsor(s) | Huatai Financial Holdings (Hong Kong) Limited, CMB International Capital Limited |
| Underwriter(s) | Huatai Financial Holdings (Hong Kong) Limited, CMB International Capital Limited, SDICS International Securities (Hong Kong) Limited, Guosen Securities (HK) Brokerage Company, Limited, Futu Securities International (Hong Kong) Limited, China Industrial Securities International Capital Limited, CMBC Securities Company Limited, Zhongtai International Securities Limited |
TIME TABLE
| Application Period | Oct 09 (Thu) - noon, Oct 14 (Tue) |
| Price Determination Date | Oct 15 (Wed) |
| Result Announcement Date | On or before Oct 16 (Thu) |
| Result Announcement Date | On or before Oct 16 (Thu) |
| Result Announcement Date | On or before Oct 20 (Mon) |
| Dealings in Shares commence on | Oct 20, 2025. (Mon) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $69.88 - $86.40 |
| Capitalization (H Shares) | 5.50B - 6.80B |
| NAV / share ($) | $18.53 - $20.87 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 78.14, the net proceeds raised would be HKD 848.00M, of which |
| 52% : Continuous investment in R&D to advance the drug candidates in pipeline and to enrich product portfolio |
| 23% : Improve R&D capacities and pursue collaboration opportunities |
| 8% : Enhance commercialization capabilities and expand market presence |
| 7% : Improve and optimize R&D and manufacturing systems |
| 10% : Working capital |
IPO NEWS
| 20/10/2025 16:08 |
| {New Stock}HAIXI PHARMA(02637) ends up 20.6% at HK$104.2 |
| 20/10/2025 09:21 |
| {New Stock}HAIXI PHARMA(02637) opens up 18.06% at HK$102 |
| 16/10/2025 18:35 |
| {New Stock}HAIXI PHARMA(02637) ends up 25.12% on grey market |
| 16/10/2025 16:20 |
| {New Stock}HAIXI PHARMA up 40.28% at HK$121.2 on grey market |
Related Document
| Prospectus |  Chinese Version | 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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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).