18A unprofitable biotech company in Hong Kong conducted an IPO: 11 companies listed in the first half of the year, raising a total of 12.486 billion Hong Kong dollars.

According to Ryan Capital statistics, since the listing system reform, there have been a total of 94 "unprofitable biotechnology companies" listed on the main board in Hong Kong under Chapter 18A. In the first half of 2026, 11 new "unprofitable biotechnology companies" were listed, raising a total of 12.486 billion Hong Kong dollars, accounting for 12.6% of the total number of new stocks (87) and 5.9% of the total amount raised through IPOs in the period (2,101.95 billion). 1. In the first half of 2026, 11 companies raised 124.86 billion through IPOs. 2. A total of 94 companies raised 1202.50 billion through IPOs. Since the first company (ASCLETIS-B (01672)) was listed under Chapter 18A on August 1, 2018, a total of 94 "unprofitable biotechnology companies" have been listed, raising a total of 148.03 billion through IPOs, with an average fundraising of 15.75 billion per company. Among these 94 companies, NH HEALTH-B (06606) has been delisted, and EDDING GENOR-B (06998) was a result of a merger between Yiteng Pharmaceutical and Jiahe Biotechnology. 3. Current status of applications and listings (as of June 30, 2026) As of June 30, 2026, there are a total of 38 "unprofitable biotechnology companies" still within the valid application period for listing. There are also quite a few companies that have exceeded the valid application period for listing: