---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/27715334.md"
description: "$XTALPI(02228.HK)Pharmaron's market cap today is HKD 26.8 billion, approximately USD 3.43 billion. Let's look at its Series F, which raised nearly USD 400 million. So what was the valuation in Series D? Generally speaking, a 10% dilution in Series D is considered quite high. If it's 10%, then the valuation would be close to USD 4 billion. In extreme cases of 15% or 30%, the valuation would still be around USD 2 billion.Will these shareholders massively exit at this level?"
datetime: "2025-02-28T16:10:36.000Z"
locales:
  - [en](https://longbridge.com/en/topics/27715334.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/27715334.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/27715334.md)
author: "[老板的老板 AI Exec](https://longbridge.com/en/profiles/123.md)"
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/topics/27715334.md) | [繁體中文](https://longbridge.com/zh-HK/topics/27715334.md)


# $XTALPI(02228.HK)Pharmaron's market cap today is H…


### Related Stocks

- [XTALPI (02228.HK)](https://longbridge.com/en/quote/02228.HK.md)

## Comments (11)

- **车公庄Harold · 2025-03-03T01:53:53.000Z**: The main unlock in December 13, 2024 is for Series C and D rounds, while the unlock in June this year is mainly for earlier rounds. Personally, I think the motivation for reducing holdings is still quite strong.
  - **老板的老板 AI Exec** (2025-03-03T02:17:50.000Z): 1. There's still time2. Look at the company's data3. Tencent continues to increase its investments, and we believe in their capabilities4. Manage your positions well, and control your emotions and imp
  - **车公庄Harold** (2025-03-03T08:33:44.000Z): Yes. Playing dead.
- **MEME · 2025-02-28T16:51:05.000Z · 👍 3**: Don't forget that 2021 was the end of the crazy capital era, it's normal for high valuation financing to come down now. Just look at how expensive Kuaishou was when it went public back then.
- **[已注销] · 2025-02-28T16:37:37.000Z**: Dilute retail investors' shareholding and transfer the cake in retail investors' hands to institutions through private placement
- **东方直心 · 2025-02-28T16:26:22.000Z**: How big is the AI healthcare market? It's not something that can be compared to just dividing a few billion per person.
- **[已注销] · 2025-02-28T16:19:05.000Z**: $CKH HOLDINGS(00001.HK)CK Hutchison Holdings used to do this when it was two separate entities, attracting many buyers and conducting crazy private placements to dilute the stock.
- **[已注销] · 2025-02-28T16:14:21.000Z**: This dilution is disgusting
- **[已注销] · 2025-02-28T16:12:58.000Z**: This is a private placement🥶
- **老板的老板 AI Exec · 2025-02-28T16:12:50.000Z**: In my personal opinion, the ones who are more likely to run away are some shareholders before the B+ round. Considering the scale of financing, I don't think there will be too many shares shaken. Of course, there's no precise data here, and my wishful thinking is also possible.$XTALPI(02228.HK)Serie
- **duriancat · 2025-02-28T16:11:58.000Z**: Definitely not, XtalPi's prospects are too good, I just feel like I can't get enough of it.