IPO News | Xinlitai (002294.SZ) Hong Kong Stock IPO Prospectus Expires

The Zhitong Finance App learned that the Hong Kong Stock Prospectus submitted by Shenzhen Xinlitai Pharmaceutical Co., Ltd. (abbreviation: Xinlitai, 002294.SZ) on February 12, 2026 expired on August 12, 2026. Goldman Sachs, Citibank, and CITIC Securities were co-sponsors at the time of submission.

According to the previous prospectus, Xinlitai is a pioneer in the treatment of cardiovascular-kidney-metabolic (cardio-renal metabolic syndrome) diseases in China. According to Frost & Sullivan, in 2024, the company was the second-largest pharmaceutical company in the field of innovative cardiovascular medicine in China in terms of revenue scale. As of the last practical date (February 4, 2026), according to Frost & Sullivan, the company has the second-largest pipeline of innovative drugs for cardio-renal metabolic syndrome among domestic companies in terms of size. The company's product portfolio is strategically centered on innovative drugs, and also covers generic drugs, biosimilar drugs and medical devices, which work together to meet huge unmet medical needs in the field of cardio-renal metabolic syndrome.

The company has always led innovative developments in the field of cardio-renal metabolic syndrome. As of the last practical date, the company had six innovative drugs — Xinlitan (approved in 2013), Folitan (approved in 2024), Cyclitine (approved in 2024), Xinchaotul (approved in 2025), Forlian (approved in 2025), and Ennarol (first approved in 2023, approved in 2025 to expand indications). The market share of these drugs is rapidly increasing and will be an important driving force for the company's revenue growth. The company's innovative drug sales revenue as a share of total drug sales revenue increased from 30.1% in 2023 to 37.7% in 2024, and increased from 35.5% in the nine months ending September 30, 2024 to 51.6% in the same period 2025.