China-based Contract Development and Manufacturing Organization (CDMO) Shanghai Haoyuan Chemexpress Co., Ltd (SHA： 688131) has announced plans to raise up to RMB 1.16 billion (USD 160 million) through the issuance of an undisclosed amount of convertible bonds (CDs). This strategic financing move is expected to strengthen the company’s financial position and support its expansion in the CDMO market.
Haoyuan Chemexpress’s Market Debut and Specialization
Haoyuan Chemexpress, which specializes in the development and manufacturing of special generic APIs and new drug CDMO services, made its debut on Shanghai’s Sci-Tech Innovation Board (STAR) in May 2021. The company has since been recognized for its commitment to innovation, holding 144 patents and offering a comprehensive library of 104,000 molecular block and tool compound products.
Financial Performance and Growth Prospects
In the first half of this year, Haoyuan Chemexpress reported impressive financial results, with revenues of RMB 881 million and net profits of RMB 93.87 million. The company’s strong financial performance and the planned capital raise indicate a promising growth trajectory. The funds raised through the convertible bonds issuance will be instrumental in driving the company’s future projects and strategic initiatives within the pharmaceutical industry.-Fineline Info & Tech
