Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Equity Capital Markets

Shenzhen Salubris Pharmaceuticals / Equity Capital Markets

Shenzhen Salubris Pharmaceuticals (SLBRS HK)

<ul>
<li>Salubris, a CKM-focused innovative pharmaceutical company, is seeking an A+H listing. GS, Citi and CITIC are the joint sponsors.</li>
<li>While our previous note covers the fundamentals of the company, in this note we look at its business development, 1H26 results and A-H premium moves.</li>
<li>We raise our A-H premium base case for the company, given the shift in peer A-H premiums.</li>
</ul>


Salubris, a CKM-focused innovative pharmaceutical company, is seeking an A+H listing. GS, Citi and CITIC are the joint sponsors.
While our previous note covers the fundamentals of the company, in this note we look at its business development, 1H26 results and A-H premium moves.
We raise our A-H premium base case for the company, given the shift in peer A-H premiums.


Salubris (信立泰) A+H Pre-IPO: 1H26 Results Update

Hong Kong

The company is a leading Chinese pharmaceutical company focused on the Cardiovascular-Kidney-Metabolic (CKM) sector, engaged in R&D, production, and sales of pharmaceuticals and medical devices. It is seeking a primary listing on the HKEX, having been listed on the Shenzhen Stock Exchange since 2009.

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Salubris (信立泰) A+H Pre-IPO: 1H26 Results Update

Salubris is seeking an A+H listing. In this note we update the company's fundamentals and business development since our last coverage.

Ke Yan, CFA, FRM