ZELGEN (688266.SH): Files second HKEX listing application with CICC as sole sponsor; H1 net profit of RMB 640 million

NewTimeSpace News: On 12 August 2026, Suzhou Zelgen Biopharmaceuticals Co., Ltd. (688266.SH) filed its second listing application with HKEX, with CICC as sole sponsor. The Company is an integrated biopharmaceutical enterprise focused on innovative small molecules and biologics in oncology, autoimmune diseases and haemostasis/haematology, driven by dual innovation engines comprising a small-molecule platform and a bispecific/trispecific antibody and complex recombinant protein platform.

The Company has four marketed drugs: Zelprex (donafenib, China's first domestically developed small-molecule multi-target drug for first-line treatment of advanced liver cancer), jaktinib (China's first domestically developed innovative JAK inhibitor for myelofibrosis), recombinant human thrombin (China's only recombinant DNA-technology product) and recombinant human thyrotropin (the only approved diagnostic product for post-surgical follow-up of differentiated thyroid cancer in China). Its pipeline comprises 10 drug candidates across 29 major clinical programmes, with 8 indications of 4 candidates in BLA/NDA or pivotal/Phase III stages; key projects include ZG006 (world's first DLL3/DLL3/CD3 trispecific antibody) and ZG005 (PD-1/TIGIT bispecific antibody).

Financially, the Company recorded net losses of RMB 295.1 million, RMB 150.3 million and RMB 165.1 million in 2023, 2024 and 2025 respectively, and turned to a net profit of RMB 640.0 million for the six months ended 30 June 2026, mainly driven by substantial licensing income from the upfront payment under the AbbVie agreement; the Company cautioned that the net profit may not be sustainable in the near term.

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