Neautus passes HKEX listing hearing: second in China TCM decoction-ready products by 2025 revenue

NewTimeSpace News: On October 26, 2026, Sichuan Neautus Traditional Chinese Medicine Co., Ltd. (Neautus) passed the listing hearing for the Main Board of the Stock Exchange of Hong Kong, as disclosed by HKEX on October 25. GF Capital (Hong Kong) and ABCI Capital act as joint sponsors. The company is a large-scale provider of traditional Chinese medicine (TCM) decoction-ready products in China.

According to the prospectus, the company sets and implements stringent TCM production and quality control standards and integrates digital technologies into its production and quality control processes. Its clients include hospitals and medical institutions, medical trading companies, pharmacies and pharmaceutical companies, and more recently individual consumers, served with traditional herbal preparations, wellness products and health management services. Its footprint covers most provinces in Chinese Mainland, as well as Hong Kong and Taiwan, and extends overseas to regions with strong TCM demand such as Vietnam and Malaysia. As of the latest practicable date, it offered more than 770 types and 4,900 varieties of decoction-ready products, covering all major medicines used in the TCM industry.

Citing Frost & Sullivan, the prospectus shows that Neautus ranked second in China by revenue from TCM decoction-ready products in 2025 with a 0.4% market share, while the top five players held 2.7% in aggregate in a fragmented market. China's TCM product market reached RMB426.6 billion in 2025 and is expected to reach RMB469.2 billion by 2035.