02652 長風藥業
CF PHARMTECH
CF PHARMTECH
| Register Close | 2025/10/02 IPO Closing in 6 Days |
| Listing Date | 2025/10/08 |
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IPO Detail
COMPANY PROFILE
CF PharmTech, Inc. primarily focus on the R&D, manufacturing and commercialization of inhalation technologies and inhalation drugs, with a focus on treating respiratory diseases. The Group have developed a product portfolio with a broad coverage of patients, medical specialties, and therapeutic areas.
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The Group’s first-approved product CF017, a budesonide suspension for inhalation targeting bronchial asthma (China’s highest-selling inhalation drug category), marked its first approved product. In 2024, CF017 accounted for approximately 16% of China’s budesonide inhalation drug market in 2024 in terms of sales volume, according to the report. Substantially all of The Group’s revenue was generated from the sales of CF017.
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The Group’s marketing system have propelled its CF017 to cover over 10,000 medical institutions in China since its approval in May 2021. The Group’s CF018, the first azelastine hydrochloride and fluticasone propionate nasal spray approved for allergic rhinitis in China, has also penetrated over 500 hospitals and medical institutions across multiple provinces, boosted by its inclusion in the 2023 National Reimbursement Drug List.
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The Group’s manufacturing facilities in Suzhou, Jiangsu province, span a total gross floor area of 8,163 square meters. The Group’s manufacturing facilities can support an annual production capacity of 240 million vials of suspension nebulizers, 50 million vials of solution nebulizers, 4 million canisters of nasal sprays, 2 million canisters of metered-dose inhaler (MDI) products, and 24 million doses of dry powder inhaler (DPI) products.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Health Care |
| Major Business Area | China |
| Board Lot | 500 |
GLOBAL OFFERING
| No. of Offer Shares | 41.20M H shares |
| No. of International Offer Shares | 37.08M H shares |
| No. of HK Offer Shares | 4.12M H shares |
| Offer Price | $14.75 |
| Stock Code | 2652 |
| Sponsor(s) | CITIC Securities (Hong Kong) Limited, CMB International Capital Limited |
| Underwriter(s) | CLSA Limited, CMB International Capital Limited, CCB International Capital Limited, Soochow Securities International Brokerage Limited, Shenwan Hongyuan Securities (H.K.) Limited, SPDB International Capital Limited, SDICS International Securities (Hong Kong) Limited, ICBC International Securities Limited, Central China International Securities Co., Limited, BOCOM International Securities Limited, ABCI Securities Company Limited, Guosen Securities (HK) Brokerage Company, Limited |
TIME TABLE
| Application Period | Sep 26 (Fri) - noon, Oct 02 (Thu) |
| Price Determination Date | -- |
| Result Announcement Date | On or before Oct 06 (Mon) |
| Result Announcement Date | On or before Oct 06 (Mon) |
| Result Announcement Date | On or before Oct 08 (Wed) |
| Dealings in Shares commence on | Oct 08, 2025. (Wed) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $14.75 |
| Capitalization | 6.08B |
| NAV / share ($) | $3.56 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 14.75, the net proceeds raised would be HKD 525.40M, of which |
| 40% : Fund the ongoing R&D and clinical development of established inhalation formulation product candidates, both domestically and internationally |
| 20% : Fund pre-clinical R&D across multiple other pipeline programs and technologies |
| 30% : Expansion and upgrade of manufacturing facilities, equipment procurement, and production management systems |
| 10% : Working capital |
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).