Shanghai Cell Therapy Group Co., Ltd., a leading player in China’s cellular medical health sector, has announced its second filing for an IPO on the Hong Kong Stock Exchange (HKEX), with joint sponsors being China International Capital Corporation Hong Kong Securities Limited (CICC) and CCB International Financial Limited (CCB International) .
Company Overview and Business Scope
Established in 2013, Shanghai Cell Therapy Group is recognized as the first and only company in China that covers the entire value chain of cellular medical health. The company’s business scope spans across cell storage, oncology services, cellular pharmaceuticals, and cell energizing solutions. Supported by proprietary underlying technology platforms such as nanoantibody cell navigation and control, non-viral gene writing, and nucleic acid synthesis and delivery, Shanghai Cell Therapy Group is poised to leverage its comprehensive capabilities in the cellular therapy space .
Business Segment Maturity and Market Performance
The company’s four main business segments show varying levels of maturity. In the cell storage business, which is the company’s main revenue stream, Shanghai Cell Therapy Group ranks first in China’s immune cell storage market in terms of both incremental and cumulative storage volumes for the years 2021-2023, according to data from China Insights Consultancy (CIC). In oncology medical services, the utilization rate of open beds at the company’s affiliated Mengchao Cancer Hospital, Shanghai University, increased from 40.3% in 2021 to 56.8% in the first half of 2024. However, in the cellular pharmaceutical R&D field, all products are still in early clinical or pre-clinical development stages, and cell energizing products only began sales in the second half of 2023.
Financial Performance and Growth
Shanghai Cell Therapy Group has achieved continuous revenue growth, increasing from RMB 498.5 million in 2021 to RMB 759.9 million in 2023, with a compound annual growth rate of 23.5%. In the first half of 2024, revenue reached RMB 434.1 million, a year-on-year increase of 24.2%. Despite significant R&D investments and infrastructure construction leading to continuous losses during the performance record period—with net losses of RMB 465.7 million, RMB 541.5 million, and RMB 488.1 million in 2021, 2022, and 2023 respectively, and a narrowed net loss of RMB 194.7 million in the first half of 2024—the company’s financial trajectory indicates a commitment to growth and development in the cellular therapy sector.-Fineline Info & Tech
