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Official Listing of Recbio on HKEX, Vaccine Innovation and Iteration Accelerated by Novel Adjuvant Technology

HONG KONG, Apr 1, 2022 - (ACN Newswire) - On March 31, the China-based novel vaccines company - Jiangsu Recbio Technology Co., Ltd. ("Recbio" or the "Company", Stock Code: 2179.HK) went public and was officially listed on the Hong Kong Stock Exchange. Assuming the Over-allotment option is not exercised, 30,854,500 H shares were issued under the Global Offering, with a price of HK$24.80 per share and proceeds up to approximately HK$765 million. The Hong Kong public Offering received an enthusiastic response from investors and was over-subscribed by more than 9.65 times. As the cornerstone investors of the Company, the cornerstone subscription ratios of Yangtze River Pharmaceutical, Harvest Global and Sequoia China exceed 50%. Previously, the Company has won the favor of many well-known investment institutions, including Legend Capital, LYFE Capital, Oriental Fortune Capital, Fer-Capital, Sequoia China, CMB International, Lake Bleu and Temasek. Having successfully listed in Hong Kong, becoming "the first HPV vaccine stock in Hong Kong" and "the first novel adjuvant vaccine stock in Hong Kong", Recbio is expected to inject new vitality into the capital market in Hong Kong.

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Chart: Innovative vaccine portfolio of Recbio

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Domestic vaccine innovation and iteration accelerated by novel adjuvant technology

Vaccines are praised as the "golden track" in the medical health field. According to the Frost & Sullivan report, from 2016 to 2020, the size of the global vaccine market has increased from US$27.5 million to US$39.9 billion at a CAGR of 9.7%, while the CAGR of global pharmaceutical market was only 3.02%. China has become the second largest vaccine market globally, with the market volume increased from RMB27.1 billion in 2016 to RMB75.3 billion in 2020 at a CAGR of 29.1%.

Regarding the insufficient domestic supply of and the unmet urgent demand for novel vaccines, it has become an important part of the Development Planning of the Pharmaceutical Industry in the "14th Five-Year Plan" in China (referred as the "Plan") to promote enterprises to speed up the development of related products and to achieve product availability as soon as possible. Regarding the development of the vaccine industry, the "Plan" also states that research and development of novel vaccines (such as novel adjuvants for vaccines and mRNA vaccines) and building of industrialization capability shall be accelerated. It also emphasizes on the development of novel COVID-19 vaccines, herpes vaccines, polyvalent human papillomavirus (HPV) vaccines and other products.

As an innovative novel vaccine company, Recbio has constructed the three core technology platforms consisting of novel adjuvants, protein engineering and immunological evaluation, forming synergy in antigen design and optimization, adjuvant development and production, identification of the best combination of antigen and adjuvants. The Company has built a comprehensive and high-valued vaccine portfolio consisting of 12 candidates, covering cervical cancer, COVID-19, adult tuberculosis, shingles, HFMD, influenza etc. It covers five of the ten diseases with the greatest burden under the 2019 Global Burden of Diseases issued by the World Health Organization and disease areas of the three of the top five globally bestselling vaccine products in 2020.

Novel adjuvant for vaccines is the "bottleneck" technology of innovative vaccines. Through years of technical research, Recbio has successfully achieved independent control of all FDA-approved novel adjuvants, and is one of the few companies in the world capable of independent development of novel adjuvants. It has also successfully applied in various innovative vaccines such as COVID-19 vaccines, HPV vaccines and shingles vaccines.

A moat constructed with a rich product portfolio

HPV vaccines are one of the most commercially valuable vaccines in the world. It is expected that there will be 234 million females in China aged 9-45 unvaccinated for HPV in 2025 assuming 3 doses per person, requiring additional 702 million doses. Currently, Recbio has formed a full coverage of bivalent, quadrivalent and 9-valent vaccines and novel adjuvant upgrades in the field of HPV vaccines. The core product REC603, a recombinant HPV 9-valent vaccine is currently under phase III clinical trial, expected to become the first approved domestic HPV 9-valent vaccine. Regarding the global immunization program market, REC601, a bivalent vaccine has the potential to become one of the most popular vaccine options. At the same time, the Company is also in the process of developing second-generation HPV vaccines, namely REC604a (a quadrivalent vaccine) and REC604b (a 9-valent vaccine). Both vaccines have adopted our self-developed novel adjuvants and are expected to achieve two-shot regimens in the future. The construction of the first phase of the HPV manufacturing facility of Recbio is expected to be completed by the end of this year. By then, it will realize the designed capacity of five million doses of HPV 9-valent vaccines or 30 million doses of HPV bivalent vaccines per year. As the first cancer preventive vaccine in the world, HPV vaccines have been in shortage for a long time. With the gradual release of domestic HPV vaccines in the future and the gradual release of production capacity, domestic substitution will be accelerated.

Protein engineering, novel adjuvant and other technology are comprehensively used in ReCOV, the COVID-19 vaccine of Recbio, to thoroughly optimize the vaccine, allowing ReCOV to possess a series of comprehensive advantages, including excellent safety, strong immunogenicity, strong cross-protection effectiveness with Omicron and Delta mutant strains, easy-to-scale-up production, low production cost, high preparation stability, storage and transportation in room temperature etc. The international phase II/III clinical trials of such vaccine are currently in progress. EUA/BLA applications are estimated to be submitted in 2022. On the side of production supply, the Company has completed the construction of our GMP-standard manufacturing facility for ReCOV and obtained the drug production license in November 2021. The manufacturing facility has a total GFA of approximately 17,000 sq.m., has the potential to support an annual manufacturing capacity of 300 million doses of ReCOV and can be used to manufacture recombinant shingles vaccines.

In the field of shingles vaccines, shingles virus is dormant in almost all adults over 50 of age in China, affecting approximately 2.5 million adults in China every year. However, Shingrix is currently the only shingles vaccine approved in China. The novel adjuvant which benchmarking AS01 is adopted in REC610 of the Company, significantly improving vaccine immunogenicity, hoping to achieve domestic substitution quickly.

Recogen, our subsidiary has first achieved technology breakthrough in lyophilized mRNA vaccines. It has applied the self-developed freeze-drying technology to achieve preparation stability at 4 degrees Celsius and 25 degrees Celsius, allowing storage and transportation under general cold-chain conditions, effectively solving the current defect in availability of mRNA vaccines.

"We are glad that the Hong Kong stock IPO has been highly recognized by the capital market. The successful listing of Recbio is expected to bring more confidence to the Hong Kong 18A stock market. Thanks to all the investors for their strong support, we were able to successfully go public as originally planned in such extremely depressed environment of the Hong Kong capital market!" Regarding the listing of Recbio in Hong Kong, Dr. Liu Yong, the Founder, Chairman of the Board, and General Manager of Recbio stated that, "Against the backdrop of a huge global demand for innovative vaccines in this era, through continuous innovation and international cooperation, we will accelerate the commercialization of products in the global market, promote innovation in the entire value chain of the vaccine industry from R&D to commercialization, and create greater value for shareholders and investors. Today is the beginning of a brand-new journey for Recbio. I hope that all investors will continue to support our Company. Let's hope we will continue to move forward hand in hand, through the sweltering summer and winter, and create new glory together!"

About Recbio
Founded in 2012, Recbio is an innovative vaccine company with independent research and development technology as its core driving force. It is committed to building a full value chain of innovative vaccines, covering research and development, production and commercialization. The Company has always adhered to the mission of "creating first-class vaccines and protecting human health". With a strong research and development engine comprising of novel adjuvants, protein engineering, immunological evaluation and other core technology platforms, strategically focusing on disease areas with significant burden such as cervical cancers COVID-19, shingles, adult TB, HFMD and flu etc., the Company has established a high-value product pipeline consisting of 12 vaccine candidates with independent intellectual property rights, in order to meet the under-fulfilled public health needs. For more information, please visit https://www.recbio.cn/.


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comOn March 31, the China-based novel vaccines company - Jiangsu Recbio Technology Co., Ltd. ("Recbio" or the "Company", Stock Code: 2179.HK) went public and was officially listed on the Hong Kong Stock Exchange.

Weimob (2013.HK) Smart Retail sends SaaS revenues soaring 90.9%

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SHANGHAI, Mar 31, 2022 - (ACN Newswire) - Weimob Inc (2013.HK) released its 2021 financial report earlier this week (3-28), showing that its adjusted total revenue in 2021 reached 2.686 billion yuan, a record high, and its performance increased by 36.4% against the background of overcoming unfavorable factors such as downward pressure on the macro economy. After adjustment, the gross profit of RMB 1.517 billion increased by 51.3% year on year. Among them, the digital business sector achieved revenue of 1.967 billion yuan, an increase of 70.9% compared with 2020. Subscription solutions and merchant solutions in this sector achieved high growth of 90.9% and 47.5% respectively. The "WOS" new business operating system developed by Weimob Inc has been officially put into beta this month, and it may become a powerful engine to drive the future growth of Weimob Inc.

High-speed growth of business; SaaS revenue grows against the trend

In 2021, the persistence of the epidemic brought many challenges to consumers and To B enterprises. Weimob Inc focuses on the digital transformation and upgrading of enterprises, continuously strengthens the development of multi-product lines, further promotes the three strategies of "customization, ecology and internationalization", overcomes the adverse effects of external environment, and achieves the contrarian growth of performance. The financial report shows that the digital business income of Weimob Inc in 2021 was 1.967 billion yuan, an increase of 70.9% compared with 1.246 billion yuan in 2020. Among them, the revenue of Weimob Inc subscription solution (SaaS sector) reached 1.188 billion yuan, a substantial increase of 90.9% year-on-year. The number of paying merchants was 102,813, a year-on-year increase of 5.0%. The average income per user increased by 57.7% to 11,553 yuan.

At the same time, with the continuous promotion of TSO's full-chain marketing solution, the business solutions in the digital business sector of Weimob Inc have achieved good results. The financial report shows that in 2021, the business solution revenue was 779 million yuan, a year-on-year increase of 47.5%; The gross income of accurate delivery was 10.95 billion yuan, a year-on-year increase of 12.1%. The number of paying merchants increased by 26.7% to 57,909, and the average income per user was 13,454 yuan.

The financial report shows that the R&D expenditure of Weimob Inc in 2021 was 775 million yuan. Among them, the total investment of strategic projects such as the new business operating system WOS and the construction and operation of the middle platform reached 682 million yuan. Due to the increased investment in R&D and the merger and acquisition of Xiangxinyun and Haiding in 2021 and previous years, Weimob Inc lost 566 million yuan in adjusted net profit in 2021. However, these investments promote the cost reduction and efficiency increase of Weimob Inc. The financial report shows that the company has abundant cash flow, with cash and cash equivalents of 3.809 billion yuan, and its financial structure is healthy and sustainable.

The strategy of customization has achieved fruitful results, and internationalization has steadily advanced
The financial report shows that the reason why Weimob Inc achieved high revenue growth in 2021, benefiting from the core strategy of "customization, ecology and internationalization" of the group. With the support of TSO's full-chain marketing solution and smart retail and other key businesses, Weimob Inc's customization strategy achieved fruitful results. In the smart retail sector, in 2021, Weimob Inc's smart retail revenue was 426 million yuan, 193.6% year-on-year, and its share in subscription solution revenue further increased from 20.2% in 2020 to 36%. At present, the number of smart retailers in Weimob was 6,126, the number of brand merchants was 1,003, and the average order income of brand merchants per user was 234,000 yuan.

The Weimob smart catering business also achieved a breakthrough. In 2021, Weimob Smart Catering completed the technical and operation system layout of "three stores integrated and global operation". During the reporting period, Weimob's smart catering revenue was 53.616 million yuan, up 19.6% year-on-year, accounting for 4.5% of subscription solution revenue. There were 8,406 smart catering merchants, and the average order revenue per user of catering merchants was 17,000 yuan. By the end of 2021, Weimob smart catering customers accounted for 41% of China's top 100 restaurants; The revenue from catering orders accounted for 51%.

Promoting ecology, WOS New Business Operating System as a new growth engine

As one of its three core strategies, Weimob Inc's ecological strategy has also made remarkable achievements. In terms of developer ecology, in 2021, Weimob Cloud PaaS platform will continue to empower ecological partners, with over 50 new high-quality ecological partners and over 400 new cloud market applications.

In order to create a good foundation for smart business, the WOS New Business Operating System was officially put into public beta in March 2022. WOS new commercial operating system integrates SaaS business integration, ecological partnership and PaaS platform infrastructure, and realizes the comprehensive upgrade of product strength, technical strength and ecological strength, demonstrating the technical strength of Weimob Inc.

In 2022, Weimob will continue to improve WOS product strength, better serve customers through Weimob cloud empowering eco-partners, and drive the growth of product strength and commercial strength by technology, so as to realize faster product development, better product experience and service, and more ecological applications and services, so as to promote customers' purchase, increase customer renewal fees and increase ecological income. CITIC Securities holds that "WOS" is expected to become the new growth driver of SaaS with the improvement of merchant coverage and the acceleration of commercialization.

In terms of investment layout, in 2021, Weimob Inc and Yicun Capital jointly established "Weizhi Digital Industry Fund" and invested in outstanding projects such as Shuyun, Haizhi and Meichuang. In November, 2021, Weimob Inc announced the acquisition of 51.89% equity of Shanghai Xiangxinyun Network Technology Co., Ltd., and incorporated Xiangxinyun into the listed company system, thus deepening the digitalization capability of smart retail shopping guide.

Weimob Inc said that in 2022, the company will focus on seven directions: focusing on key customers and continuing to lead; Open and win-win, create ecological barriers; TOS full-link operation, helping customers smart grow; Continue to increase investment in private track and consolidate the leading position in the industry; Cloudy layout drives new growth; "7+X" to create a new growth flywheel; Cross-border development and layout of the global market. Under the background of accelerating the digitalization process of Chinese enterprises, Weimob Inc has made sufficient product reserves, technical reserves, talent reserves and capital reserves, laying a solid foundation for the development in the next five years.

Media contact:
Micky Sun, Weimob Inc
Email: jingyi.sun@weimob.com
Website: http://www.weimob.com

Weimob Inc (2013.HK) is the leading cloud-based commerce and marketing solutions provider for SMBs. For information, visit www.weimob.com.

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comWeimob Inc (2013.HK) released its 2021 financial report this week (3/28), showing that its adjusted total revenue in 2021 reached 2.686 billion yuan, a record high, and its performance increased by 36.4% against the background of overcoming unfavorable factors such as downward pressure on the macro economy.

Avalanche [AVAX]: Mapping out the odds of a continued uptrend

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass AdoptionAfter observing a swift up-channel (yellow) rally for over three months, Avalanche (AVAX) struck its ATH on 21 November. Since then, it marked a four-month bearish trendline resistance that the bulls recently flipped to support. Now that it closed above its long-term liquidity range (Point of Control/POC), AVAX eyed to test the $95-$98 zone before […]

Why Jordan Peterson Will Be A Big Hit At Bitcoin 2022

Peterson is set to speak at what will be the largest gathering of Bitcoiners ever in a celebration of sovereignty.

Why Jordan Peterson Will Be A Big Hit At Bitcoin 2022

Peterson is set to speak at what will be the largest gathering of Bitcoiners ever in a celebration of sovereignty.

Top Crypto Analyst Says Pair of Indicators Are Bullish for Crypto Markets, Examines Bitcoin (BTC) and VeChain (VET)

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A leading crypto analyst says Tether (USDT) dominance and the US dollar index (DXY) are flashing major bullish signs for crypto. In a new tweet, Justin Bennett shows his 99,000 followers a chart depicting the relative market dominance of USDT. Bennett says USDT’s recent drop relative market dominance is bullish for cryptos. “First lower low from USDT.D […]

The post Top Crypto Analyst Says Pair of Indicators Are Bullish for Crypto Markets, Examines Bitcoin (BTC) and VeChain (VET) appeared first on The Daily Hodl.

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Crypto.com to Run Ad During Oscars in Support of Ukraine

Oscar trophies

Viewers will be encouraged to donate with crypto, fiat or by buying from the campaign’s NFT collection

The post Crypto.com to Run Ad During Oscars in Support of Ukraine appeared first on Blockworks.

El Salvador President Lashes Out at US Lawmakers Over Bill That Would Probe the Country’s Bitcoin (BTC) Adoption

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US lawmakers are pushing a new bill that would require the State and Treasury Departments to “examine and mitigate” the potential risks caused by El Salvador’s decision to adopt Bitcoin (BTC) as legal tender. Senator Jim Risch, a Republican from Idaho, says in a new press release that the bill would require the government to […]

The post El Salvador President Lashes Out at US Lawmakers Over Bill That Would Probe the Country’s Bitcoin (BTC) Adoption appeared first on The Daily Hodl.

Here’s Why Bitcoin Correction Is Probably Over?

Famous on-chain analyst Willy Woo has explained some important details by keeping Macro headwinds against Bitcoin (BTC) Fundamentals. He hinted that demand for BTC futures is gaining momentum for the first time since November. He added that the market is completely reset, while, accumulation has already happened. Meanwhile, as per IntoTheBlock, for the first time,

The post Here’s Why Bitcoin Correction Is Probably Over? appeared first on CoinGape.

Here’s Why Bitcoin Correction Is Probably Over?

Famous on-chain analyst Willy Woo has explained some important details by keeping Macro headwinds against Bitcoin (BTC) Fundamentals. He hinted that demand for BTC futures is gaining momentum for the first time since November. He added that the market is completely reset, while, accumulation has already happened. Meanwhile, as per IntoTheBlock, for the first time,

The post Here’s Why Bitcoin Correction Is Probably Over? appeared first on CoinGape.

Here’s Why Bitcoin Correction Is Probably Over?

Famous on-chain analyst Willy Woo has explained some important details by keeping Macro headwinds against Bitcoin (BTC) Fundamentals. He hinted that demand for BTC futures is gaining momentum for the first time since November. He added that the market is completely reset, while, accumulation has already happened. Meanwhile, as per IntoTheBlock, for the first time,

The post Here’s Why Bitcoin Correction Is Probably Over? appeared first on CoinGape.

Is a Change to ‘Exchange’ Definition Key to Bitcoin ETF Approval?

ETF

Bloomberg Intelligence analysts, fund groups weigh in on potential implications of the SEC’s proposed amendment

The post Is a Change to ‘Exchange’ Definition Key to Bitcoin ETF Approval? appeared first on Blockworks.

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