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𝛼SKPre-IPO Sichuan Biokin Pharmaceutical (PHIP Updates) - Some Points Worth the Attention
Xinyao has highlighted this Insight as a Top Pick
395 Views27 Oct 2025 08:55
Chairman Zhu Yi aims to turn Biokin into MNC with the success of BL-B01D1.Valuation projections suggest Biokin will surpass Kelun Bio if BL-B01D1 succeeds.Currently RMB100bn is a comfortable valuation
What is covered in the Full Insight:
- Introduction
- Valuation Comparisons
- Clinical Progress of BL-B01D1
- Biokin-BMS Agreement Analysis
- Risks and Concerns
Boomeranged on Tue, 11 Nov 2025 08:39
Biokin’s high-end IPO pricing (HK$389) shows a premium over A-shares (RMB352.3). Lower-end pricing (HK$347.5) is only discounted by 10%, far lower than common expectation of 20-30%. Recent poor performance of A/H shares after IPO has intensified concerns. Based on 2025 revenue forecast (RMB2.2bn), P/S is 61-68x, higher than Akeso/Kelun Bio. Overall valuation is high. Investors need to be cautious.
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Full Insight
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