HK Recently Listed Stocks Watch | MABWELL-B (02493.HK) 1H Revenue up 209.04% YoY, 15.0206 Million Cornerstone Lock-up Shares to Be Unlocked on October 28

NewTimeSpace News: On September 23, 2026, MABWELL-B (02493.HK) traded soft in the afternoon, quoting HKD 20.96 as of 14:42, down 1.96%.

On the news front, according to previous disclosures, cornerstone investors of MABWELL-B collectively hold 15.0206 million H shares, all subject to a lock-up period through October 27, 2026, with the shares officially unlocked from October 28, 2026, representing a market value of approximately HKD 415 million at the offer price. The cornerstone lineup includes Junshi (Hong Kong), Sanjin International, Guohui (Hong Kong) Holdings, Changrong International, WuXi Biologics HealthCare Venture and Jinxiu Zhonghe.

According to public information, MABWELL-B (02493.HK) was listed on the Main Board of The Stock Exchange of Hong Kong on April 28, 2026, at an offer price of HKD 27.64, with a global offering of 47.1302 million H shares, of which the Hong Kong public offering accounted for 10%. The Hong Kong public offering was subscribed 481.71 times and the international offering 3.46 times.

On earnings, the company disclosed its first interim results after the H-share listing on August 30, 2026. In the first half of 2026, it recorded revenue of RMB 313 million, up 209.04% year on year, and a loss attributable to owners of the company of RMB 522 million, narrowing 5.37% from a year earlier.

HUAYUAN SECURITIES believes that as multiple Phase III trials of the company’s core product 9MW2821 (a Nectin-4 ADC) enter the readout window, with the Phase III trials for urothelial carcinoma as monotherapy and in combination, and for cervical cancer as monotherapy, having completed patient enrolment and scheduled for interim analysis in the second half of 2026, several innovative candidates are poised to enter a phase of commercial ramp-up.

Founded in 2017, MABWELL-B (02493.HK) is an innovative biopharmaceutical company with a full-industry-chain layout, focusing on oncology and age-related diseases such as immunology, ophthalmology and orthopaedics. Its main business is the research, development, production and sale of innovative drugs and biosimilars, with principal products including antibodies, ADCs, recombinant proteins and small-molecule chemical drugs.

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