Multiple pharmaceutical and medical device companies voluntarily withdraw IPO applications; Saikesaisi and Huihe Medical terminate STAR Market listings

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Summary · why it matters

While innovative pharmaceutical and medical device companies queue up to sprint toward IPOs, several companies have voluntarily withdrawn their application materials during the review stage, pressing pause on the listing process. Saikesaisi received inquiries in April this year and terminated its STAR Market issuance and listing application on October 8, marking its third failed IPO attempt in six years. Huihe Medical withdrew its STAR Market listing application at the end of September after entering the inquiry stage, less than three months from acceptance to withdrawal. In addition, Borui Pharmaceutical announced the termination of plans to issue H shares and list on the main board of the Hong Kong Stock Exchange, and will no longer continue filing for an extension. Earlier, Yan'an Pharmaceutical, Bainuo Pharmaceutical, Tiankang Pharmaceutical and other companies had already suspended their Beijing Stock Exchange listing processes. In June this year, Huaheng Biotechnology and Nuosiland also successively announced the termination of plans for H-share issuance and Hong Kong listing. Industry insiders believe that against the backdrop of increasingly stringent pharmaceutical IPO reviews and heightened capital market volatility, the pace of pharmaceutical company listings is diverging more sharply. Companies planning to go public should coordinate their capital planning based on their own operating conditions and avoid blindly chasing listing windows.

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Off-coverage companies 6

汇禾医疗i
Private▼ NegativeCapitalrelevance

Huihe Medical withdrew its STAR Market listing application at end-September after entering the inquiry stage, terminating its IPO plan.

赛克赛斯i
Private▼ NegativeRegulationrelevance

Saikesaisi terminated its STAR Market listing application on October 8, its third failed IPO in six years

北京诺思兰德生物技术股份有限公司i
Private▼ NegativeCapitalrelevance

Nuosiland announced termination of its H-share issuance and Hong Kong listing plans in June.

山东百诺医药股份有限公司i
Private▼ NegativeCapitalrelevance

Bainuo Pharmaceutical had already suspended its Beijing Stock Exchange listing process amid the IPO withdrawal wave.

Tiankang Pharmaceuticali
Private▼ NegativeRegulationrelevance

Tiankang Pharmaceutical had already suspended its Beijing Stock Exchange listing process

Yanan Pharmaceuticali
Private▼ NegativeRegulationrelevance

Yan'an Pharmaceutical had already suspended its Beijing Stock Exchange listing process