afterburnerii| Xuanzhu Biotech: Science and Technology Innovation Board IPO review terminated originally planned to raise 2.47 billion yuan

News summary

Xuanzhu Biotechnology Co., Ltd.'s initial public offering and listing on the Science and Technology Innovation Board was terminatedafterburnerii, original fundraising 247afterburnerii,0 million yuan will be used for innovative development.

Newsletter text

[Xuanzhu Biotech Co., Ltd.'s IPO application has been terminated] Xuanzhu Biotech Co., Ltd.(hereinafter referred to as "Xuanzhu Biotech")'s application documents for initial public offering and listing on the Science and Technology Innovation Board have been approved by the Shanghai Stock Exchange (Shanghai Stock Exchange) terminated review. Previously, on September 26 last year, the Shanghai Stock Exchange legally accepted the caseafterburneriiXuanzhu Bio's IPO application was reviewed and strictly reviewed. [Xuanzhu Biotech and the sponsor filed an application for withdrawal] Xuanzhu Biotech, together with its sponsor institution, China International Capital Corporation, took the initiative to submit an application for withdrawal of the initial public offering to the Shanghai Stock Exchange. In accordance with the relevant regulations of the Shanghai Stock Exchange, the Shanghai Stock Exchange made the decision to terminate the review. [The Audit Committee has suspended review of Xuanzhu Biotech's IPO] At the review meeting of the Listing Review Committee of the Shanghai Stock Exchange held on March 8 this year, Xuanzhu Biotech's IPO application was suspended, demonstrating the importance the regulatory authorities attach to the review process. [Xuanzhu Biotech is deeply involved in the field of major diseases] Xuanzhu Biotech is an innovative pharmaceutical company focusing on major diseases such as digestion, cancer and non-alcoholic steatohepatitis. It aims to realize the development and commercialization of Class 1 new drugs with core independent intellectual property rights. To meet clinical medical needs. [Transparent equity structure of Xuanzhu Biotech] As of the signing date of the prospectus, Xuanzhu (Hong Kong) Pharmaceutical Technology Co., Ltd. is the controlling shareholder of Xuanzhu Biotech. CHEFENGSHENG, GUOWEICHENG, ZHANGJionglong and Meng Xianhui indirectly controlled more than 62% of Xuanzhu Biotech's share voting rights through Sihuan Pharmaceutical and were the actual controllers of the company. [Xuanzhu Biotech originally planned to issue shares to raise funds] Xuanzhu Biotech originally planned to issue no more than 105 shares through the Science and Technology Innovation Boardafterburnerii,699,650 shares, excluding shares publicly sold by the company's shareholders. At the same time, the company is considering using an over-allotment option involving additional shares of no more than 15% of the issue. [The funds raised are planned to be used for drug research and development and industrialization] Xuanzhu Biotech plans to raise 2.47 million yuan through public offering. The funds will be used for innovative drug research and development projects, headquarters and innovative drug industrialization projects, as well as to supplement the company's working capital. [China International Capital Corporation serves as the sponsor] China International Capital Corporation serves as the sponsor for Xuanzhu Biotech's IPO, and its representatives Jia Zhongya and Zhang Xuekong are responsible for relevant sponsorship matters.