Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Hansoh Pharmaceutical Group  / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hansoh-pharmaceutical-group-co" target="_blank" data-smartkarma-citation="entities:23675:1" rel="noopener">Hansoh Pharmaceutical Group (3692 HK)</a> granted Glemark license to develop, manufacture and commercialize aumolertinib in territories like Middle East, Africa, Southeast &amp; South Asia, Australia, New Zealand, Russia/CIS and Caribbean.</li>
<li>Aumolertinib is the first original third-generation EGFR-TKI innovative drug in China. It has been approved for four indications in China and also in UK for two indications.</li>
<li>Most popular third-generation EGFR-TKIs is osimertinib (Tagrisso by Astra Zeneca). Global sales of Tagrisso was US$5.3B in 9M25, being the highest selling drug of Astra Zeneca (12% of total revenue).</li>
</ul>



Hansoh Pharmaceutical Group (3692 HK) granted Glemark license to develop, manufacture and commercialize aumolertinib in territories like Middle East, Africa, Southeast &amp; South Asia, Australia, New Zealand, Russia/CIS and Caribbean.
Aumolertinib is the first original third-generation EGFR-TKI innovative drug in China. It has been approved for four indications in China and also in UK for two indications.
Most popular third-generation EGFR-TKIs is osimertinib (Tagrisso by Astra Zeneca). Global sales of Tagrisso was US$5.3B in 9M25, being the highest selling drug of Astra Zeneca (12% of total revenue).


Hansoh Pharma (3692 HK): Yet Another Out Licensing Agreement Underpins Hansoh’s Pipeline Strength

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hansoh-pharmaceutical-group-co" target="_blank" data-smartkarma-citation="entities:23675:1" rel="noopener">Hansoh Pharmaceutical Group (3692 HK)</a> granted Roche an exclusive worldwide license to (excluding the Chinese Mainland, Hong Kong, Macau and Taiwan) to develop, manufacture and commercialize HS-20110.</li>
<li>HS-20110 is an investigational CDH17-targeting ADC currently being developed for the treatment of colorectal cancer (CRC) and other tumors, with global Phase I trial underway in China and the US.</li>
<li>CDH17 targeted ADCs development (about 31 drug development projects ongoing) scene obviously seems crowded, but Hansoh’s strong execution with Roche’s global prowess will surely give it an edge.</li>
</ul>



Hansoh Pharmaceutical Group (3692 HK) granted Roche an exclusive worldwide license to (excluding the Chinese Mainland, Hong Kong, Macau and Taiwan) to develop, manufacture and commercialize HS-20110.
HS-20110 is an investigational CDH17-targeting ADC currently being developed for the treatment of colorectal cancer (CRC) and other tumors, with global Phase I trial underway in China and the US.
CDH17 targeted ADCs development (about 31 drug development projects ongoing) scene obviously seems crowded, but Hansoh’s strong execution with Roche’s global prowess will surely give it an edge.


Hansoh Pharmaceutical (3692 HK): New Licensing Agreement Asserts R&D Prowess and Pipeline Strength

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>In this note, we will take a look at the Asia Pacific IPO pipeline for 2026, starting with Hong Kong.</li>
<li>This list has been compiled on a best effort basis from tracking the company filings and through various other sources.</li>
<li>The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.</li>
</ul>


In this note, we will take a look at the Asia Pacific IPO pipeline for 2026, starting with Hong Kong.
This list has been compiled on a best effort basis from tracking the company filings and through various other sources.
The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.


Aequitas 2026 Asia IPO Pipeline - Hong Kong

Simcere Pharmaceutical Group / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/simcere-pharmaceutical-group" target="_blank" data-smartkarma-citation="entities:29186:1" rel="noopener">Simcere Pharmaceutical Group (2096 HK)</a> proposed to spin-off and separately list the shares of Simcere Zaiming, a subsidiary of the company.</li>
<li>Following the completion of the proposed spin-off, Simcere Pharma will have an interest of over 50% in Simcere Zaiming and Zaiming will remain as a subsidiary of the company.</li>
<li>We feel this is a sort of value unlocking and also simultaneously allowing Simcere Zaiming, as an independently listed entity, access to funds for R&amp;D and future growth.  </li>
</ul>



Simcere Pharmaceutical Group (2096 HK) proposed to spin-off and separately list the shares of Simcere Zaiming, a subsidiary of the company.
Following the completion of the proposed spin-off, Simcere Pharma will have an interest of over 50% in Simcere Zaiming and Zaiming will remain as a subsidiary of the company.
We feel this is a sort of value unlocking and also simultaneously allowing Simcere Zaiming, as an independently listed entity, access to funds for R&amp;D and future growth.  


Simcere Pharma (2096 HK): Proposed Spin-Off Will Unlock Value and Open Funding Avenues for Zaiming

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Hansoh booked strong BD income in 1H25.</li><li>Hansoh’s revenue reached RMB7.43bn (+14.3% YoY) and attributable net income was RMB3.14bn (+33.4% YoY) in 1H25, accounting for 56% and 72% of our previous fullyear expectation, respectively.</li><li>Product sales grew 15.0% YoY to RMB10.69bn, driven by strong momentum in innovative drugs, especially aumolertinib.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Hansoh booked strong BD income in 1H25.Hansoh’s revenue reached RMB7.43bn (+14.3% YoY) and attributable net income was RMB3.14bn (+33.4% YoY) in 1H25, accounting for 56% and 72% of our previous fullyear expectation, respectively.Product sales grew 15.0% YoY to RMB10.69bn, driven by strong momentum in innovative drugs, especially aumolertinib.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hansoh Pharma (3692 HK) - Stronger-Than-Expected BD Income in 1H25

China

Hansoh Pharmaceutical Group Company Limited operates as a pharmaceutical company. The Company manufactures and sells anti-infectives, anti-neoplastic agents, diabetes drugs, and other products. Hansoh Pharmaceutical Group markets its products throughout China.

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Hansoh Pharmaceutical Group (3692 HK)

Hansoh Pharma (3692 HK): Yet Another Out Licensing Agreement Underpins Hansoh’s Pipeline Strength

Hansoh Pharma granted Glemark license for aumolertinib, a third-generation EGFR-TKI drug with multiple indications approved in China and UK....

Tina Banerjee

Hansoh Pharmaceutical (3692 HK): New Licensing Agreement Asserts R&D Prowess and Pipeline Strength

Hansoh granted Roche exclusive license for CDH17-targeting ADC HS-20110. CDH17 targeted drug development scene is crowded. Hansoh’s strong...

Tina Banerjee

Aequitas 2026 Asia IPO Pipeline - Hong Kong

In this note, we will take a look at the Asia Pacific IPO pipeline for 2026, starting with Hong Kong before covering other regions in subsequent...

Sumeet Singh

Simcere Pharma (2096 HK): Proposed Spin-Off Will Unlock Value and Open Funding Avenues for Zaiming

Simcere Pharma plans to spin-off and separately list shares of subsidiary Simcere Zaiming, unlocking value and providing separate access to funds...

Tina Banerjee

Hansoh Pharma (3692 HK) - Stronger-Than-Expected BD Income in 1H25

Hansoh’s revenue reached RMB7.43bn (+14.3% YoY) and attributable net income was RMB3.14bn (+33.4% YoY) in 1H25, accounting for 56% and 72% of our...

CMB International

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Hansoh Pharma (3692 HK): Yet Another Out Licensing Agreement Underpins Hansoh’s Pipeline Strength

​Hansoh Pharma granted Glemark license for aumolertinib, a third-generation EGFR-TKI drug with multiple indications approved in China and UK....

Tina Banerjee

Hansoh Pharmaceutical (3692 HK): New Licensing Agreement Asserts R&D Prowess and Pipeline Strength

​Hansoh granted Roche exclusive license for CDH17-targeting ADC HS-20110. CDH17 targeted drug development scene is crowded. Hansoh’s strong...

Tina Banerjee

Aequitas 2026 Asia IPO Pipeline - Hong Kong

In this note, we will take a look at the Asia Pacific IPO pipeline for 2026, starting with Hong Kong before covering other regions in subsequent...

Sumeet Singh

Simcere Pharma (2096 HK): Proposed Spin-Off Will Unlock Value and Open Funding Avenues for Zaiming

​Simcere Pharma plans to spin-off and separately list shares of subsidiary Simcere Zaiming, unlocking value and providing separate access to funds...

Tina Banerjee

Hansoh Pharma (3692 HK) - Stronger-Than-Expected BD Income in 1H25

Hansoh’s revenue reached RMB7.43bn (+14.3% YoY) and attributable net income was RMB3.14bn (+33.4% YoY) in 1H25, accounting for 56% and 72% of our...

CMB International

Hansoh Pharma granted Glemark license for aumolertinib, a third-generation EGFR-TKI drug with multiple indications approved in China and UK....

Hansoh granted Roche exclusive license for CDH17-targeting ADC HS-20110. CDH17 targeted drug development scene is crowded. Hansoh’s strong...

Simcere Pharma plans to spin-off and separately list shares of subsidiary Simcere Zaiming, unlocking value and providing separate access to funds...