On December 27, 2024, the official website of the Beijing Stock Exchange announced that Dynamiker Biotechnology (Tianjin) Co., Ltd. has received approval for its initial public offering (IPO) from the listing committee, with Citic Securities serving as the sponsor. The company aims to raise RMB 456 million (approximately USD 64 million) through this offering.
Core Business and Product Offerings
According to the prospectus, Dynamiker Biotechnology specializes in the early diagnosis of invasive fungal diseases and the development, production, and sale of in vitro diagnostic products for various pathogens. The company has been recognized as a national high-tech enterprise and is among the first batch of key specialized and innovative “little giant” enterprises supported by the government. It has also been awarded the title of a champion enterprise in Tianjin’s manufacturing sector and recognized as a national intellectual property advantage enterprise.
Innovative Diagnostic Solutions
Dynamiker’s primary product includes the (1-3)-β-D-glucan detection kit (colorimetric method) and other enzyme kinetics series reagents, utilizing horseshoe crab blood cells as a core raw material. The company holds a license for the operation and utilization of horseshoe crab blood and its products, allowing for the legal use of existing horseshoe crab blood cells. Since 2020, Dynamiker has not engaged in the procurement or blood collection of horseshoe crabs, relying instead on its stock of raw materials, which is sufficient to meet production needs for over five years.
Financial Performance and Future Prospects
The specific listing criteria for this IPO are based on the “Beijing Stock Exchange Listing Rules (Trial)” Article 2.1.3, which requires an expected market value of no less than RMB 200 million, net profits of at least RMB 15 million in the last two years, and a weighted average return on net assets of no less than 8%. The company reported revenues of RMB 233.99 million, RMB 295.07 million, RMB 236.71 million, and RMB 117.74 million over the reporting period, with net profits of RMB 44.15 million, RMB 42.26 million, RMB 68.47 million, and RMB 38.80 million, respectively.
Leadership and Ownership Structure
As of the signing date of the prospectus, Zhou Zeqi directly holds 34.09% of the company’s shares and serves as the executive partner of the employee stock ownership platforms, Danadaoli and Danadaohe, indirectly controlling an additional 5.35% of the company. Zhou Zeqi, born in September 1952, holds US citizenship and permanent residency in the People’s Republic of China. He currently serves as the Chairman and Chief Scientist of Dynamiker Biotechnology. Dr. Zhou graduated with a Ph.D. in Molecular and Cell Biology from Ohio University and has received numerous accolades, including recognition as a leading figure in China’s health industry innovation.-Fineline Info & Tech
