Alebund Pharmaceuticals (Jiangsu) Limited
禮邦醫藥(江蘇)-B
Offer Price
HK$22.60
Market Cap
HK$76.8B
Listing Date
2026-06-29
Sector
生物醫藥
📊 Valuation Analysis
P/S ratio
233.4x
偏高 — 溢價上市生物醫藥 sector P/S benchmark: 8x – 18x
Revenue growth (YoY)
370.8%
Gross margin
43.8%
Net margin
-2456.9%
Profitability
Loss-making
Fair value range by sector P/S benchmark: HK$0.77 – HK$1.74
💰 Financial Summary (FY2025)
Revenue
RMB0.31B
Prior revenue
RMB0.07B
Gross profit
RMB0.13B
Net profit
RMB-7.52B
Figures in RMB (some companies converted from their prospectus reporting currency — see notes below).
📝 Key Notes
腎病創新藥。FY2025收入僅3,056萬人民幣，研發3.73億，淨虧損7.52億。典型pre-revenue biotech。
🏢 Company Overview
禮邦醫藥(江蘇)股份有限公司，專注腎臟疾病及代謝性疾病創新藥物研發的生物醫藥公司。核心管線包括：(1) AP-301（擬鈣劑，用於慢性腎病透析患者的繼發性甲旁亢，已完成中國臨床III期）；(2) AP-303（非甾體類鹽皮質激素受體拮抗劑，用於糖尿病腎病，臨床II期）；(3) AP-306（高尿酸血症/痛風，臨床I期）。公司同時從國際藥企引進多款腎病領域授權產品在中國商業化。管線定位為中國最大腎病專科藥物組合，目標服務中國超過1.3億慢性腎病患者。
🔢 Want to adjust the parameters yourself?
Use the IPO valuation calculator to enter a stock code, adjust revenue and share count, and get a fair value range.
⚠️ For educational reference only and not investment advice. IPO pricing, listing dates and financial data are subject to change — always refer to HKEX announcements and the prospectus. Investing involves risk.