New Stock News | Betta Pharmaceuticals (300558.SZ) Files Again with the Hong Kong Stock Exchange to Collaboratively Build a Full-Industry Chain Biopharmaceutical with the "Four Horsemen"

According to a disclosure by the Hong Kong Stock Exchange on August 28, Betta Pharmaceuticals Co., Ltd. (referred to as: Betta Pharmaceuticals, 300558.SZ) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CITIC SEC serving as its sole sponsor. Company Overview The prospectus indicates that Betta Pharmaceuticals is a key player in China's innovative pharmaceutical research and development industry, successfully transforming from a biotechnology company focused on drug discovery and development into a biopharmaceutical company that has entered the full industry chain and commercialization phase. Accompanying this transformation, the company has built an operational platform driven by a collaborative approach involving independent research and development, market expansion, strategic partnerships, and ecosystem development. Since the launch of its first product in 2011, the company has achieved profitability for consecutive years. Among the companys commercialized products, Acetibacter (Conmana/, EGFR TKI), Ensacutine (Ensacove/, ALK TKI), and Voronib (, VEGFR/PDGFR inhibitors) are the first products of their respective classes among domestic drugs to be approved in China or to venture into the global market for targeted indications. Acetibacter has generated over RMB 18 billion in cumulative sales and is the only first-generation EGFR TKI that continues to compete with third-generation drugs through continuous lifecycle management and the expansion of indications. The company has established a comprehensive drug pipeline covering key lung cancer targets, including the epidermal growth factor receptor (EGFR) and anaplastic lymphoma kinase (ALK), while exploring promising therapeutic areas such as breast cancer, kidney cancer, hematological diseases, and ophthalmology. The company remains committed to developing innovative drugs classified as Category 1 by the National Medical Products Administration and has over a dozen clinical projects in various stages of development. In terms of sales channels, the company sells most of its products to wholesale distributors, who then sell the products to end customers, primarily hospitals and retail pharmacies. Currently, the company has approximately 170 distributors covering more than 30 provinces, municipalities, and autonomous regions in the country. In the six months ending June 30 of 2023, 2024, 2025, and for the total of 2025 and the first half of 2026, the revenue generated from products sold through wholesale distributors accounted for approximately 70.3%, 70.4%, 73.6%, 73.1%, and 74.7% of total revenue, respectively. Financial Information Revenue For the fiscal years 2023, 2024, 2025, and for the six months ending June 30, 2026, the company achieved revenues of approximately RMB 2.456 billion, 2.892 billion, 3.609 billion, and 1.976 billion, respectively. Profit For the fiscal years 2023, 2024, 2025, and for the six months ending June 30, 2026, the company recorded profits of approximately RMB 334 million, 387 million, 286 million, and 293 million, respectively. Gross Margin For the fiscal years 2023, 2024, 2025, and for the six months ending June 30, 2026, the companys corresponding gross margins were 82.7%, 80.5%, 78.3%, and 75.1%, respectively. Industry Overview Lung cancer is one of the most common and deadly malignant tumors globally. The incidence and mortality rates of lung cancer are on the rise both worldwide and in China. The number of new lung cancer cases globally is projected to increase from 2.3 million in 2020 to 2.7 million in 2025, with an expected rise to 3.5 million by 2035. In China, the number of new lung cancer cases is expected to increase from 1 million in 2020 to 1.1 million in 2025, and further to 1.5 million by 2035. EGFR-positive lung cancer refers to lung cancer with evidence of EGFR mutations. The global market for EGFR TKIs is estimated to reach USD 23 billion by 2035. The Chinese EGFR TKI market shows a balanced and stable growth outlook. As the application scope of EGFR TKIs in combination therapies and sequential therapy regimens expands, along with increased patient access to treatment, the market will continue to grow. In China, the treatment of EGFR-positive NSCLC has become increasingly precise and stage-specific. In the competitive EGFR TKI market, Betta Pharmaceuticals stands out with its product portfolio covering both first-generation and third-generation EGFR TKIs (i.e., Acetibacter and Befotacetin), providing comprehensive care for patients from initial treatment to resistance management. ALK-positive lung cancer refers to lung cancer with evidence of ALK mutations. The projected compound annual growth rate for the global ALK TKI market between 2025 and 2030, as well as 2030 to 2035, is based on the following factors: the continued use of second-generation and third-generation ALK TKIs with improved central nervous system (CNS) penetration and resistance characteristics, and the expansion of molecular testing coverage to support earlier and more comprehensive detection of ALK-positive NSCLC. The earlier high growth of the Chinese ALK TKI market was driven by the rapid emergence of second-generation and third-generation ALK TKIs and improved molecular testing coverage. Currently, six ALK TKIs have been approved by the FDA for market release, five by the EMA, and ten by the National Medical Products Administration. Ensacutine stands out as the first and only domestic ALK TKI to enter the global market. Board Information The companys board of directors will consist of 12 directors, including six executive directors, two non-executive directors, and four independent non-executive directors. Directors serve a term of three years and are eligible for re-election. The term for independent non-executive directors shall not exceed six consecutive years. Shareholding Structure As of August 23, 2026, the companys single largest shareholder group is composed of Dr. Ding, Kaiming Investment, and Beicheng Investment. Dr. Ding directly (holding approximately 0.24%) and indirectly through Kaiming Investment (holding approximately 18.91% of the companys issued share capital) and Beicheng Investment (holding approximately 2.34% of the companys issued share capital), controls approximately 21.50% of the companys issued share capital. Intermediary Team Sole Sponsor: CITIC SEC (Hong Kong) Limited Company Legal Advisors: Regarding Hong Kong and US law: K Law Hong Kong; Regarding Chinese law: Zhejiang Tianche Law Firm; Regarding Chinese intellectual property law: Liu Shen Law Firm Sole Sponsor Legal Advisors: Regarding Hong Kong and US law: Davis Polk & Wardwell; Regarding Chinese law: Tongsan Law Firm Independent Auditors and Reporting Accountants: Hong Kong Lixin Dehao Accounting Firm Limited Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Consultant: SOMERLEY CAP Limited