Bailing Biotechnology's IPO on the Shenzhen Stock Exchange's Growth Enterprise Market has been accepted, making it the largest domestic supplier of ursodeoxycholic acid raw materials.

On June 9, Zhongshan Bailin Biotechnology Co., Ltd. (hereinafter referred to as "Bailin Biotechnology") has filed for an IPO on the ChiNext Board of the Shenzhen Stock Exchange. Shenwan Hongyuan Group Securities is its sponsor, intending to raise 867.11 million yuan. According to the prospectus, Bailin Biotechnology is mainly engaged in the research and development, production, and sales of specialty APIs and intermediates. After years of accumulation, the company has mastered the independent production process of various bile acid APIs and intermediates, and combined with its own industry chain and R&D advantages, it has extended its product range to bile acid preparations and non-bile acid APIs and preparations. Bailin Biotechnology has formed a strong competitive advantage in the field of bile acid products and has become one of the main suppliers of UDCA APIs worldwide. At the same time, the company fully utilizes its advantages in the API industry chain to extend its products downstream. Independently developed preparations such as UDCA tablets (50mg) and iron protein succinate oral solution are currently applying for registration approval to strengthen the foundation of the integrated layout of the industrial chain. Since 2012, the company has mainly sold UDCA, and its main business has not undergone significant changes. According to QYResearch data, during the reporting period, the proportion of UDCA API sales by Bailin Biotechnology in the global market was 16.34%, 21.47%, and 20.21% respectively, ranking second in the world. The company has become one of the main suppliers of UDCA APIs globally and the largest supplier of UDCA APIs domestically. Bailin Biotechnology is committed to developing the global market and its products have been exported to many overseas countries or regions. In overseas markets, the company's end customers are concentrated in Europe, Asia, and Africa, including well-known global UDCA preparation companies such as Dr. Falk, PRO.MED.CS, Sun Pharma, and WERTEKS JSC. In the domestic market, the company has established good cooperative relationships with major companies in the field of UDCA preparations, such as Ansh Pharmaceutical, Sinotharapeutics Inc., Sinotherapeutics Inc., and Puyuan Pharmaceutical. In terms of finance, the company achieved operating income of approximately 396 million yuan, 550 million yuan, and 510 million yuan in 2023, 2024, and 2025, respectively; during the same period, it recorded net profits of approximately 93 million yuan, 123 million yuan, and 83 million yuan, respectively.