新股IPO:创新药企百利天恒登陆港股
百利天恒药业股份有限公司(Sichuan Biokin Pharmaceutical Co., Ltd., 2615.HK)启动香港IPO,招股期为11月7日至11月12日,拟全球发售8,634,300股H股,并设重新分配机制;每股发售价介乎347.50–389.00港元,每手100股,入场费约39,292.31港元;预期11月17日于联交所主板挂牌,联席保荐人为高盛、J.P. Morgan及中信证券。
百利天恒:具备研发与商业化能力的综合医药企业
发行比例:香港公开发售约10%(863,500股H股,可重新分配),国际配售约90%(7,770,800股H股,可重新分配)。
发行价格:347.50–389.00港元;每手100股;入场费约39,292.31港元。
发行日期:11月7日至11月12日(预期定价日11月13日)。
上市日期:11月17日。
IPO 保荐人:高盛、J.P. Morgan、中信证券。

公司简介
百利天恒是一家具备早期研发、临床开发、生产及商业化能力的综合医药企业集团,业务涵盖创新生物药及仿制药与中成药的研发与销售。公司拥有全球首创且唯一进入临床III期阶段的EGFR×HER3双特异性抗体ADC药物iza-bren,并于2023年12月与BMS达成总对价最高84亿美元的战略合作。公司通过超过1,000家经销商覆盖中国30多个省份的医院及药房。
财务资讯
招股文件披露,百利天恒于2022–2024年收入分别约7.02亿元、5.60亿元及58.21亿元(人民币),同期净利润分别亏损2.82亿元、亏损7.81亿元及盈利37.08亿元;2025年第一季度收入约1.70亿元、净亏损约11.18亿元。按中位价368.25港元计,公司预计募资净额约30.18亿港元,资金拟用于中国内地以外候选生物药物的研发(约60%)、建立全球供应链(约30%)及营运资金与一般公司用途(约10%)。
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*融资认购金额 1,000 万港元或以下免利息。^现金认购免手续费。此推广优惠于 2025 年 5 月 20 日起至另行通知,部分热门新股可能不参与优惠,相关实际利息及手续费请以 uSMART App 认购页面为准,有关政府及交易所费用仍将按规收取。本公司保留随时更改、暂停或终止上述优惠、条款及细则的权利,而毋须另行通知客户,并一切均以本公司之解释为准。
如何在 uSMART HK 认购百利天恒
uSMART HK App 设有 IPO 中心,提供独家优惠,客户可在 App 即时认购公开发售之新股。登入 uSMART HK App 后,点选右下角「交易」,进入「新股认购」,选择百利天恒后点击「公开认购」,填写认购数量并提交订单即可。

(图源:uSMART HK app)
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