<h2>B&amp;K CORP-B: Focus on Wound Healing PDGF Drugs</h2>
<p>Pharmaceutical company B&amp;K CORP-B (2396) is offering shares from today (12th) until next Wednesday (17th), planning to issue approximately 17.6488 million H shares, with an offering price ranging from HKD 38.2 to 51, raising a maximum of HKD 709 million. The entry fee for one lot of 200 shares is HKD 10,302.88, and it is expected to be officially listed on December 22. CITIC Securities and Huatai Financial are the joint sponsors.</p>
<p>B&amp;K CORP is dedicated to developing various therapies, focusing on developing protein drugs for indications with medical needs and market opportunities. The main direction is to discover, develop, and commercialize therapies for wound healing, currently targeting platelet-derived growth factor (&#34;PDGF&#34;) drugs. The company's pipeline includes two core products: Pro-101-1 for treating deep second-degree burns and Pro-101-2 for treating diabetic foot ulcers (&#34;diabetic foot&#34;). Additionally, there are eight other candidate products.</p>
<p>In terms of performance, as of the end of September this year, B&amp;K CORP has not made a profit and has incurred a net loss of approximately RMB 130 million.</p>
<p>Regarding the use of net proceeds from this fundraising, about 61.8% will be used to fund the ongoing clinical development and commercialization of core products Pro-101-1 and Pro-101-2; approximately 18.8% will be used to enhance research and development capabilities through the purchase of professional equipment and instruments related to research and development and quality control activities; about 6.3% will be used to pay for third-party service fees, research personnel costs, and raw material costs for ongoing preclinical research and development of PDGF products for other indications (such as fresh wounds, pressure ulcers, and radiation ulcers) outside of core products; approximately 3.1% will be used to pay for third-party service fees, research personnel costs, and raw material costs for preclinical research and development activities of Mes-201, Oli-101, and Oli-201; about 10.0% will be used for working capital and general corporate purposes.</p>
<h2>IMPRESSION DHP: Ranked Eighth in Mainland Cultural Tourism Performances</h2>
<p>Cultural tourism performance company IMPRESSION DHP (2695) is offering shares from today (12th) until next Wednesday (17th), planning to issue 36.1 million H shares, with an offering price ranging from HKD 3.47 to 4.1, raising a maximum of approximately HKD 148 million. The entry fee for one lot of 1,000 shares is HKD 4,141.35, and it is expected to be officially listed on December 22. Everbright Securities International and Kaisa Capital are the sponsors.</p>
<p>IMPRESSION DHP primarily operates three business segments, including the iconic performance &#34;Impression: Dahongpao&#34; scenic performance, created by Zhang Yimou, Wang Chaoge, and Fan Yue, the Impression Cultural Tourism Town business, and the tea soup hotel business. Based on sales revenue generated from cultural tourism performances, the company ranks eighth in the Chinese cultural tourism performance market in 2024.</p>
<p>In terms of performance, for the six months ending June 30, 2025, the revenue recorded was RMB 56 million; the net profit was RMB 6.775 million
As for the use of the net proceeds from this fundraising, approximately 28.6% will be used for the innovative Impression Cultural Tourism Town; about 23% will be used for upgrading the iconic performance &#34;Impression · Dahongpao&#34; landscape performance in 2027; 20% will be used to acquire another cultural tourism performance project; 11% will be used for promotional work to enhance brand image and expand business influence; 7.4% will be used to upgrade the ticket management system and other software; the remaining 10% will be used as working capital and for other general corporate purposes in 2027.</p>
<h2>Ming Ki Hospital: The Largest Private General Hospital Group in East China</h2>
<p>The mainland private hospital Ming Ki Hospital (2581) will start its IPO today (12th) until next Wednesday (17th), planning to globally offer 67 million H shares, of which 10% will be for public offering in Hong Kong. The offering price ranges from HKD 9.34 to HKD 11.68, raising a maximum of approximately HKD 626 million. Based on 500 shares per lot, the entry fee is HKD 5,898.9, and it is expected to officially list on December 22, with China International Capital Corporation and Citigroup as joint sponsors.</p>
<p>Ming Ki Hospital draws on the operational management experience of hospitals in Taiwan and is a private for-profit general hospital group in mainland China. According to Frost &amp; Sullivan data, based on total revenue in 2024, the company is the largest private for-profit general hospital group in East China, with a market share of 1.0%; it ranks seventh nationally, with a market share of 0.4%. If measured by revenue per bed in 2024, the company ranks first among all private for-profit general hospital groups in mainland China.</p>
<p>In terms of performance, for the six months ending June 30, 2025, the revenue recorded was RMB 1.312 billion. Among this, inpatient medical service revenue was RMB 696 million, accounting for 53% of total revenue; outpatient medical service revenue was RMB 603 million, accounting for 46%.</p>
<p>As for the use of the net proceeds from this fundraising, approximately 74.3% will be allocated for the expansion and upgrading of existing hospitals; about 16% will be allocated for potential investment and acquisition opportunities; 8% will be used to upgrade to a &#34;smart hospital&#34;; the remaining 1.8% will be used for working capital and general corporate purposes.</p>
<h2>Nanhua Futures Co., Ltd.: Ranked Eighth in the Mainland Futures Industry</h2>
<p>The mainland futures company Nanhua Futures Co., Ltd. (2691) will start its IPO today (12th) until next Wednesday (17th), planning to globally offer 108 million H shares, of which about 10% will be for public offering in Hong Kong. The offering price ranges from HKD 12 to HKD 16, raising a maximum of HKD 1.41 billion. Based on 500 shares per lot, the entry fee is HKD 8,080.68, and it is expected to officially list on December 22, with CITIC Securities as the sole sponsor.</p>
<p>Nanhua Futures Co., Ltd. primarily provides global financial services, focusing on offering futures and derivatives services in both domestic and international markets. According to Frost &amp; Sullivan reports, based on total revenue in 2024, the company ranks eighth among all futures companies in China; if considering all non-financial institution-related futures companies, it ranks first
In terms of performance, last year's annual profit was RMB 458 million, an increase of 36.5% year-on-year. For the six months ending June 30, 2025, the profit recorded was RMB 231 million.</p>
<p>As for the net proceeds from this fundraising, approximately 30% will be used to increase the capital base of the UK operations; 25% will support the expansion of the Hong Kong business; 20% will be used to increase the capital base of the US operations; 10% will be used to increase the capital base of the Singapore operations; 5% will support the expansion of the Malaysian business; and the remaining 10% will be used for general corporate purposes and to supplement the working capital of overseas operations</p>

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<p>B&K CORP-B and IMPRESSION DHP are both conducting IPOs simultaneously. B&K CORP-B focuses on wound healing medications and plans to issue approximately 17.6488 million H shares, raising up to HKD 709 million. IMPRESSION DHP is a cultural tourism performance company and plans to issue 36.1 million H shares, raising up to approximately HKD 148 million. Both companies will be listed on December 22</p>

4 new stocks simultaneously open for subscription. B&K CORP focuses on wound healing drugs. "IMPRESSION DHP" is created by Zhang Yimou