Company Overview
| Stock Name | 3Sbio |
|---|---|
| Stock Code | 01530 |
| Company Full Name | To be extracted |
| Industry | Healthcare |
| Principal Activities | 研發、生產及營銷生物技術產品，核心產品為特比澳及益比奧，專注腎科及腫瘤科治療領域。 |
| Listing Date | 2015-06-11 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國瀋陽瀋陽經濟技術開發區十號路1甲3號 |
| Business Address (Hong Kong) | 香港銅鑼灣勿地臣街1號時代廣場二座36樓 |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | 3sbio.com |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | (852)2862 8628 |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | Mechanism A |
|---|---|
| Offer Price | HK$ 9.10 / shares |
| Offer Price Range | To be extracted |
| Lot Size | 500 shares |
| Entry Threshold | To be extracted |
| Par Value | To be extracted |
| Offer Period | 2015-06-01 to 2015-06-04 |
| Global Offering Shares | 606,100,000 shares |
| HK Public Offer Shares (Initial) | 60,610,000 shares (10.0%) |
| Public Offer Lots (Initial) | 121,220lots (Pool A60,610lots，Pool B60,610lots) |
| International Placing Shares (Initial) | 545,490,000 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 2,424,398,570 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | To be extracted |
| Cornerstone Share | 5.3% |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 5,515,510,000 |
Stock Connect Inclusion Analysis
| HK Market Cap | HK$ 46.88B |
|---|---|
| Analysis Result | Already included in Stock Connect (both) |
Valuation & Financials
| Market Cap (at Offer Price) | To be extracted |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | 盈利约人民币291.7百万元 |
| Period-End Cash Balance | To be extracted |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | To be extracted |
| Total Pre-IPO Investment | To be extracted |
Financial Data
Unit:
'000
RMB
Income Statement
| Item | 2012 | 2013 | 2014 |
|---|---|---|---|
| Revenue | 656,145 | 875,396 | 1,130,854 |
| Cost of sales | -70,504 | -83,179 | -87,481 |
| Gross profit | 585,641 | 792,217 | 1,043,373 |
| Other income and gains, net | 28,416 | 24,159 | 47,763 |
| Selling and distribution expenses | -304,419 | -340,643 | -431,432 |
| Administrative expenses | -82,091 | -159,207 | -170,770 |
| Operating profit | 130,571 | 213,284 | 390,749 |
| Net finance costs | -165 | -4,576 | -1,383 |
| Share of associates and JVs | -29,182 | ||
| Profit before tax | 130,406 | 208,708 | 360,184 |
| Income tax expense | -28,519 | -112,649 | -68,456 |
| Profit for the year | 101,887 | 96,059 | 291,728 |
| Profit attributable to owners | 101,666 | 95,892 | 291,728 |
Balance Sheet
| Item | 2012 | 2013 | 2014 |
|---|---|---|---|
| Cash and cash equivalents | 160,218 | 268,202 | 107,612 |
| Trade and bills receivables | 174,580 | 226,305 | 347,978 |
| Inventories | 35,430 | 50,482 | 100,401 |
| Total current assets | 1,114,980 | 926,088 | 942,627 |
| Total assets | 1,476,301 | 1,268,326 | 2,306,441 |
| Total current liabilities | 84,458 | 89,541 | 1,251,889 |
| Total liabilities | 97,062 | 186,523 | 1,362,849 |
| Total equity | 1,379,239 | 1,081,803 | 943,592 |
| Equity attributable to owners | 1,368,181 | 1,070,578 | 932,367 |
| Interest-bearing borrowings | 0 | 0 | 617,429 |
Cash Flow Statement
| Item | 2012 | 2013 | 2014 |
|---|---|---|---|
| Net cash from operating activities | 144,449 | 217,254 | 386,589 |
| Net cash from investing activities | -201,520 | 481,193 | -289,217 |
| Net cash from financing activities | 501 | -587,961 | -250,390 |
| Net increase in cash | -56,570 | 110,486 | -153,018 |
| Depreciation of PP&E | 24,360 | 26,908 | 30,889 |
| Amortisation of intangible assets | 6,125 | 13,093 | 2,601 |
| Purchase of PP&E | -48,105 | -39,340 | -19,931 |
Income Statement
Balance Sheet
Cash Flow Statement
Source: Accountants' Report and Audited Consolidated Financial Statements
| First Day Close | HK$ 9.35 |
|---|---|
| First Day Open | HK$ 9.32 |
| First Day Change | 2.75% |
| First Day Volume | 233134000.0 |
| First Day Turnover | 2222160000.0 |
| Use of Proceeds | 1、約45%，或約1,876.5百萬港元，將用于通過選擇性收購擴大我們重點治療領域的藥物產品組合；
2、約15%，或約625.5百萬港元，將用于透過聘額外銷售人員等方式加強我們產品的銷售及營銷；
3、約15%，或約625.5百萬港元，將用于為資本開支項目融資，以透過興建新生產線提高我們的產能；
4、約15%，或約625.5百萬港元，將用于為研發項目（包括內部研發項目及外部合作項目）融資；
5、約10%，或約417.0百萬港元，將用于補充我們的營運資金及作一般公司用途。 |
Underwriting Syndicate
Joint Sponsors (3)
Overall Coordinators (4)
Joint Bookrunners (5)
Joint Lead Managers (5)
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | BlackRock Funds | 309,986,950 HKD | — | 1.41% | — | 6 months | 2015-12-11 |
| 2 | GIC Private Limited | 232,514,100 HKD | — | 1.05% | — | 6 months | 2015-12-11 |
| 3 | Lilly Asia Ventures Fund III, L.P. | 232,514,100 HKD | — | 1.05% | — | 6 months | 2015-12-11 |
| 4 | 工银瑞信资产管理(国际)有限公司 | 77,500,150 HKD | — | 0.35% | — | 6 months | 2015-12-11 |
| 5 | 新华资产管理(香港)有限公司 | 155,009,400 HKD | — | 0.70% | — | 6 months | 2015-12-11 |
| 6 | 中国人寿富兰克林资产管理有限公司 | 155,009,400 HKD | — | 0.70% | — | 6 months | 2015-12-11 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | 婁競 | — |
| Company Secretary | 厲蕙蕙、黎少娟 | — |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | 婁競通過Century Sunshine全資擁有Decade Sunshine，持有659,367,030股（27.20%）；CITIC PE Funds Limited通過CS Sunshine Investment Limited持有712,258,360股（29.38%）。 |
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