By Fineline Cube 
Yantai Dongcheng Pharmaceutical Group Co., Ltd. (SHE: 002675) announced that it will spin off its subsidiary Yantai Lannacheng Biotechnology Co., Ltd. for a public listing on the Main Board of the Hong Kong Stock Exchange. The listing will issue H‑shares—foreign‑invested ordinary shares with a par value of RMB 1.00 each, denominated in RMB but subscribed in foreign currency.
Why Lannacheng?
- Specialised R&D – Since 2021, Lannacheng has focused exclusively on the research, development, and production of theranostic radiopharmaceuticals.
- Broad Oncology Portfolio – The company targets solid tumours such as prostate, gastric, glioma, neuroendocrine, lung, and thyroid cancers.
- Pipeline Strength – Core diagnostic assets ([18F] Spiritide for prostate cancer, Fluoro‑[18F] Alpha Peptide for lung cancer) are in Phase III trials, while the therapeutic agent 177Lu‑LNC1011 (prostate cancer) is in Phase II.
Dongcheng’s Strategic Context
- Four‑Segment Business – Dongcheng’s diversified platform spans active pharmaceutical ingredients (APIs), finished‑product preparations, nuclear medicine, and the growing “Great Health” wellness sector.
- Capital Allocation – The spin‑off frees capital and allows Lannacheng to pursue growth without the constraints of a parent‑company structure.
- Investor Appeal – The Hong Kong listing will provide international investors direct access to China’s burgeoning radiopharma market, a sector that remains largely untapped globally.
Market Implications
- First‑Mover Advantage – Lannacheng is one of the very few companies with an approved, late‑stage radiopharmaceutical pipeline focused on solid‑tumor theranostics.
- Valuation Potential – Successful execution of Phase III and transition to commercial markets could unlock significant upside for H‑share investors.
- Ecosystem Growth – The listing underscores the expanding role of precision medicine in China’s oncology strategy and may spur additional spin‑offs in the biotech ecosystem.-Fineline Info & Tech