GuShiio.com ① The strong demand for Hanbang Technology terminals and the trend of localization are two key points supporting the construction of fundraising projects. Regarding the feasibility of the project, Hanbang Technology mentioned that the project complies with policy requirements, the company has technical feasibility and quality management system.
② If Cytiva finally wins the two patent disputes of “column filling method” and “separation medium slurry tank”, Nahanbang Technology will face a total of 11.5 million yuan in compensation.
“Science and Technology Innovation Board Daily” February 22 (Reporter Qiu Siyu) The Science and Technology Innovation Board’s first IPO company was born this year.
On February 21, the official website of the Shanghai Stock Exchange showed that the IPO of Hanbang Science and Technology Innovation Board had passed. Hanbang Technology is mainly engaged in chromatography equipment, consumables and application technology. In this IPO, Hanbang Technology raised a total of 598 million yuan.
The necessity of new production capacity and the commercialization prospects of R & D projects were inquired on site
At the meeting of the Shanghai Municipal Party Committee, the Shanghai Stock Exchange again inquired about the feasibility of expanding the market for laboratory chromatography separation and purification equipment, the necessity of adding new production capacity and relevant production capacity digestion measures. In the previous round of inquiries, the rationality of the new production capacity of investment projects has been the focus of inquiries from the Shanghai Stock Exchange.
The annual output of 2000 laboratory chromatography separation and purification equipment project is one of the Hanbang Technology fundraising projects this time. This project is also a project whose fundraising amount has not shrunk despite the significant reduction in Hanbang Technology’s IPO fundraising amount. The company’s other chromatographic separation equipment research and development center construction project has shrunk, and the replenishment project has been directly cancelled.
In the draft of the latest updated prospectus, Hanbang Technology stated that after the company’s annual production project of 2000 laboratory chromatographic separation and purification instruments is completed, it will enhance the production capacity of the company’s various laboratory instruments and equipment, and further meet the requirements of downstream R & D instruments. The estimated construction period of the project is 2 years.
According to reports,Strong terminal demand and localization trends are two key points supporting the construction of the project.
From the perspective of demand, China’s liquid chromatography market will continue to grow in the future. Among them, the market size of the laboratory liquid chromatography market will reach 2.3 billion yuan in 2022 and is expected to continue to grow in the future, reaching 3.6 billion yuan by 2026; Judging from the localization trend, China’s laboratory chromatography and chromatography equipment market is still dominated by imported products. Hanbang Technology believes that with the increase in R & D investment and policy promotion, the competitiveness of local brands in terms of supply integrity, speed and accuracy is gradually improving.
Regarding the feasibility of the project, Hanbang Technology mentioned that the project complies with policy requirements, the company has technical feasibility and quality management system.
From 2021 to the first half of 2024, the sales of chromatographic separation and purification instruments in Hanbang Technology Laboratory were 472, 513, 558 and 316 respectively.Product sales are on the rise.As of the end of October 2024, the company’s laboratory chromatographic separation and purification instrumentsThe order amount in hand is approximately 9.2795 million yuan,The main reason for the small amount of orders in hand is that laboratory products are usually small in scale and size and the time from order to production and acceptance of products is short.
“The number of units (sets) in this project is large. On the one hand, it is due to the undertaking of the original production capacity. On the other hand, it is due to the large variety of laboratory instruments and the lower price of a single unit compared to production-type equipment, and the demand for products is large.” Hanbang Technology said.
In addition to the rationality of the new production capacity, the company’s industrialization prospects of technologies such as “Development and Application Development of Supercritical Fluid Chromatographs” and “Research and Development of Medium and Low Pressure Chromatography Systems” were also inquired by the Shanghai Stock Exchange at the Shanghai Municipal Party Committee meeting.
Data shows that at present, the number of companies participating in competition in the domestic supercritical fluid chromatography instrument industry is small. Among local manufacturers, only Hanbang Technology has achieved commercial production of SFC equipment. The company’s sponsor believes that the market demand for supercritical fluid chromatography instruments has not yet been released and the market potential is large; in the field of supercritical chromatography instruments, the products provided by each manufacturer have their own characteristics,Hanbang Technology has certain advantages in terms of product types and process plans.Hanbang Technology’s “Research and Development of Medium and Low Pressure Chromatography Systems” has entered the project acceptance application stage.
Patent disputes are plagued
The latest disclosure of the prospectus shows that as of the signing date of the prospectus, Cytiva and Hanbon Technology had three patent infringement lawsuits.
The three patent infringement lawsuits involve three invention patents filed by Cytiva in China, namely,”Column Filling Method”,”Chromatography Column”, and “Separation Media Slurry Tank”. The former demanded Hanbang Technology to compensate for economic losses of 5.5 million yuan, 6 million yuan, 6 million yuan, and required Hanbang Technology to immediately stop manufacturing, selling, and promising to sell products that infringe its invention patent rights.
At present, the patent infringement case of “separation medium slurry tank” has not yet been heard; the patent rights of “chromatography column” have been declared invalid by the State Intellectual Property Office; the court has issued a first-instance judgment on the patent infringement lawsuit of “column filling method”, holding that the case does not constitute infringement, and Cytiva has filed an appeal to the Supreme People’s Court.
If Cytiva finally wins the two patent disputes of “column filling method” and “separation medium slurry tank”, Hanbang Technology will face a total of 11.5 million yuan in compensation and will be unable to continue manufacturing and selling related products.
In terms of performance, according to preliminary calculations by Hanbang Technology, the operating income in 2024 will be 691 million yuan, a year-on-year increase of 11.61%; the net profit attributable to the parent company will be 79.3412 million yuan, a year-on-year increase of 54.07%. Regarding the reasons for the growth of full-year performance, Hanbang Technology stated that the main reasons wereThe growth in revenue from production-grade small molecule drug separation and purification equipment driven by GLP-1 and its analogues, as well as the benefits realized by the company’s overseas business expansion.
In terms of financing, as of now, Hanbon Technology has gone through eight rounds of financing, with well-known companies such as WuXi AppTec and Sequoia making bets. Among them,WuXi AppTec holds 8.05%, making it the company’s second largest shareholder.
