Quote | Super Quote
IPO   |   IPO News   |   Listed IPO Information   |   Hot Listed IPO
Stock Code   IPO News IPO Timetable
IPO Timetable
JOINN Laboratories

JOINN Laboratories is a leading non-clinical CRO focused on drug safety assessment. It is also in the process of expanding its offerings to an integrated range of services covering discovery, pre-clinical and clinical trial stages in the drug R&D service chain. Its non-clinical studies refer to pharmaceutical R&D studies other than clinical trials conducted on human subjects. Such non-clinical studies encompass all major stages of the pharmaceutical R&D process, including discovery, pre-clinical and clinical trial stages. The A Shares of the Group has been listed on the Shanghai Stock Exchange (stock code: 603127) since August 2017.

Setting out as a CRO specialized in pharmacology and toxicology studies for innovative drugs in China, it has now become the largest CRO in non-clinical drug safety assessment in China with a market share of 15.7% in terms of revenues in 2019, according to Frost & Sullivan.

With over 25 years of operating history, the Group has been expanding service offerings to becoming an integrated pharmaceutical R&D service platform capable of providing a comprehensive portfolio of CRO services with a goal to greatly improve efficiency and achieve significant cost savings.

Headquartered in Beijing, the Group currently owns and operates two GLP-certified facilities in China strategically located in Beijing and Suzhou. It facilities in Suzhou have a total GFA of approximately 61,600 sq.m. and it plans to commence the construction of approximately 20,000 sq.m. of additional laboratories and research model facilities in 2021. It is also planning to build a drug safety assessment center for innovative drugs and a central laboratory with associated platforms for bioanalytical services in Guangzhou. It expects the Phase I of both facilities to commence operation in 2023. In 2019, it acquired Biomere, a discovery-based, specialty CRO located in Worcester, Massachusetts. For the nine months ended September 30, 2020, Biomere generated RMB157.8 million in revenue, accounting for 25% of its total revenues and substantially all of its overseas revenues during the same period.

Most of customers are pharmaceutical and biotechnology companies, including global and Chinese blue-chip pharmaceutical companies and small-to-medium-sized biotechnology companies.

MarketHong Kong (Main Board)
Business NatureHealth Care
Board Lot100
Registrar & Transfer OfficeTricor Investor Services
No. of Offer Shares43.32m H shares
No. of International Offer Shares39.43m H shares
No. of HK Offer Shares3.90m H shares
Offer Price$133.00 - $151.00
Nominal ValueRMB 1.00 each
Stock Code6127
SponsorCLSA Capital Markets Limited
UnderwritersCLSA Limited; Merrill Lynch (Asia Pacific) Limited; China International Capital Corporation Hong Kong Securities Limited; China Merchants Securities (HK) Co., Limited; Haitong International Securities Company Limited; BOCI Asia Limited; CMB International Capital Limited; BOCOM International Securities Limited; ICBC International Capital Limited; ICBC International Securities Limited
Application PeriodFeb 16 (Tue) - Noon, Feb 19 (Fri)
Price Determination DateOn or Before 5pm, Feb 19 (Fri)
Result Announcement DateOn or Before Feb 25 (Thu)
Dispatch of Shares and Refund ChequesOn or Before Feb 25 (Thu)
Dealings in Shares commence onFeb 26, 2021. (Fri)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription12X - 42X42X - 88XOver 88X
% of total shares reallocated to HK Offer14%18%36%
ExecutiveFeng Yuxia (Chairperson), Zuo Conglin, Gao Dapeng, Sun Yunxia, Yao Dalin
Non-ExecutiveGu Xiaolei
Independent Non-ExecutiveSun Mingcheng, Zhai Yonggong, Ou Xiaojie, Zhang Fan
Director Feng Yuxia36.43%
Director Gu Xiaolei5.94%
(Year ended Dec 31)
2020 *20192018
Gross Profit318,906328,786208,659
Pre-Taxed Profit159,631216,759124,794
Attributable Profit for the period142,935187,838105,471
EPS - Basic (RMB)0.630.830.47
* For the nine months ended September 30, 2020.
Offer Price$133.00 - $151.00
Capitalization (H Shares)$5,762m - $6,542m
Unaudited pro forma adj NAV / share$23.82 - $26.61
Assuming the offer price being at the mid-point of $142.00, the net proceeds raised would be HK$5,909.8m, of which:
* $945.6m (16.0%) to expand the service capacity of Suzhou facilities primarily by renovating the existing GLP laboratory facilities and equipment, building new laboratories and research model facilities, and recruiting experienced professionals;;
* $591.0m (10.0%) to strengthen U.S. operations to cater to the rising customer demand for services provided by Biomere;
* $2,304.8m (39.0%) to further expand facility network and service capabilities in China primarily by constructing new facilities in Guangzhou and Chongqing;
* $295.5m (5.0%) to broaden and deepen integrated CRO service offerings;
* $1,182.0m (20.0%) to fund potential acquisitions of suitable CROs focused on non-clinical studies, CROs focused on clinical trials, and/or research model production facilities in both China and overseas to further implement strategies; and ;
* the balance of $591.0m (10.0%) as additional working capital.
Code Name Nominal Change %Change
01873VIVA BIOTECHup7.1500.1602.289%
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
  Quote data is at least 15-min delayed,last updated: 13/04/2021 17:59
IPO Calculator
Subscription --
Result Announcement --      Listing --
Offer Price︰--
Currency :
Listing Price
Board Lot :
Admission Fee*
Subscribing Lot :
Subscribing Fee :

Subscribing Amount :
*Admission fees include brokerage of 1%, SFC transaction levy of 0.003% and Stock Exchange trading fee of 0.005% (i.e. 1.008% in total).
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2021 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.