Decoded in One Chart: Linuo Pharmaceutical Packaging Files with HKEX; Borosilicate Specialty Glass Supplier Sees Significant H1 Performance Volatility

On September 28, Linuo Pharmaceutical Packaging (301188.SZ) submitted its prospectus to the Hong Kong Stock Exchange, planning to list on the Main Board; China Merchants Securities International and Ligo Financial Group served as joint sponsors. Linuo Pharmaceutical Packaging was already listed on the ChiNext Board of the Shenzhen Stock Exchange in 2021; if it successfully lists on the Hong Kong Stock Exchange this time, it will achieve a dual "A+H" listing.

Linuo Pharmaceutical Packaging is a well-known supplier of borosilicate specialty glass in China, focusing on the development, manufacturing, and sales of borosilicate pharmaceutical glass packaging and daily-use heat-resistant glass, with products applied in the pharmaceutical, biotechnology, food and beverage, and daily household industries. Leveraging its R&D capabilities in furnace design and glass melting technology, Linuo Pharmaceutical Packaging developed China's first hexagonal stepped all-electric glass melting furnace.

According to Frost & Sullivan, by sales revenue in 2025, Linuo Pharmaceutical Packaging ranked ninth among pharmaceutical glass packaging suppliers in China; in the daily-use heat-resistant glass market, Linuo Pharmaceutical Packaging ranked first in China and second globally.

In terms of performance, for the six months ended June 30, 2026, Linuo Pharmaceutical Packaging recorded revenue of approximately RMB 673 million (same unit below), a year-on-year increase of approximately 34.9%; net profit was approximately RMB 31.157 million, a year-on-year decrease of approximately 23.9%; adjusted net profit was approximately RMB 45.837 million, a year-on-year increase of approximately 11.9%.