CSPC Innovation seeks H share listing as parent's drug pipeline advances

CSPC Pharmaceutical Group Limited announced that its independently developed Class 1 new chemical drug, SYH2070 Injection, a double-stranded small interfering RNA (siRNA) drug, has received clinical trial approval in China. This product, an siRNA drug targeting ANGPTL3, is indicated for hypertriglyceridemia or mixed hyperlipidemia. Preclinical studies show superior pharmacological activity and sustained gene silencing effect.

Concurrently, CSPC Innovation Pharmaceutical Co., Ltd., an indirect non-wholly owned subsidiary, approved a proposed H share listing on the main board of the stock exchange. This initial public offering will involve offering new H shares, representing not more than 10% of CSPC Innovation’s enlarged share capital. The listing aims to enhance access to international capital markets, increase financing flexibility, and advance CSPC Innovation's finished drug business.

The proposed H share listing is expected to result in a deemed disposal by CSPC Pharmaceutical Group, reducing its equity interest in CSPC Innovation by approximately 8.46%. This constitutes a discloseable transaction under listing rules, requiring notification and announcement. The listing is subject to market conditions and regulatory approvals.