Jingjie Bio's IPO on the Shenzhen Stock Exchange Terminated, Originally Planned to Raise About RMB500 Million
1min read On September 11, Hangzhou Jingjie Biotechnology Co., Ltd. (hereinafter referred to as Jingjie Biotech) terminated its IPO on the Shenzhen Stock Exchange's GEM. Due to the withdrawal of Jingjie Biotech and its sponsor's IPO application, according to Article 62 of the "Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (2024 Revision)", the Shenzhen Stock Exchange decided to terminate its IPO review.The prospectus shows that Jingjie Biotech focuses on protein analysis technology, providing proteomics services and antibody reagent products, serving life science basic research, drug development, and clinical diagnosis.Since its establishment in 2010, the Company has been deeply engaged in proteomics industry, using mass spectrometry as the core tool, integrating antibodies and reagents, integrating multiple disciplines such as biochemistry, immunology, molecular biology, and bioinformatics, and building an organic integration business layout of "high-throughput proteomics analysis + high specificity antibody development", which is a pioneer in the industry to provide comprehensive proteomics analysis solutions covering "discovery", "validation", and "detection".Based on its profound understanding of the biological significance of protein post-translational modifications and its technical advantages in protein modification analysis and antibody development, the Company has always adhered to independent research and innovation. Since its establishment in 2010, it has successively launched 11 new types of proteomics analysis businesses, including palmitoylation, propionylation, succinylation, 2-hydroxyisobutyrylation, glutarylation, benzoylation, 3-hydroxybutyrylation, and lactylation, driving the rapid development of the proteomics industry in China while establishing its leading industry position in the domestic proteomics industry.In addition, Jingjie Biotech actively develops industrial field customers including biotechnology and new drug development enterprises, establishing business cooperation with well-known pharmaceutical companies and gene testing companies such as BeiGene, Greentech, Genew Technologies, and Zhengda Fenghai.The main purposes of this financing are as follows:Financially, Jingjie Biotech achieved revenue of approximately RMB116 million in 2019, RMB153 million in 2020, RMB221 million in 2021, and RMB89.32 million in 2022 June 30; and its net profit was approximately RMB23.17 million in 2019, RMB41.32 million in 2020, RMB68.15 million in 2021, and RMB9.44 million in 2022 June 30.