Jiangsu Hengrui Medicine Co., Ltd (SHA: 600276), a leading Chinese pharmaceutical company, is reportedly planning a secondary listing on the Hong Kong Stock Exchange, according to multiple media sources. The move is anticipated to raise approximately USD 2 billion (RMB 14 billion) and comes amidst concerns regarding “difficulty in financing through A-shares in mainland China.” However, Hengrui Medicine has not yet confirmed or denied these plans.
The company initially went public with an offering of 40 million shares at RMB 11.98 each in Shanghai in October 2000, which resulted in a capital influx of RMB 479 million. Up to October 2024, Hengrui has distributed dividends on 24 occasions, totaling RMB 8.029 billion (USD 1.13 billion). The company now boasts a valuation of RMB 310 billion (USD 43.55 billion).
According to its Q3’24 financial report, Hengrui generated RMB 20.189 billion (USD 2.84 billion) in sales for the first nine months of this year, marking an 18.67% increase year-on-year (YOY). Net profits reached RMB 4.616 billion (USD 64.84 million), up 37.38% YOY. The company projects an annual growth rate of over 26% in its innovative drug business over the next two years, aiming to exceed RMB 20 million (USD 2.8 billion) in innovative drug sales by 2026.- Flcube.com
