Wuhe Boao rushes for Hong Kong stocks: 200 million revenue in 9 months, a loss of 45.72 million

NightAirdropper · 2026-03-01T08:55:17+00:00

Wuhe Boyao Pharmaceutical recently submitted an application for listing on the Hong Kong Stock Exchange, completing a financing of 1.1 billion yuan with a valuation of 4.038 billion yuan. The company focuses on natural drug research and development and drug delivery systems. Its revenue for 2024 is 208 million yuan, with a loss of 110 million yuan. Revenue for the first nine months of 2025 is 207 million yuan, with a loss of 45.72 million yuan.

NightAirdropper

2026-03-01 08:55:17

Abstract generation in progress

DoNews, March 1 — Beijing Wuhe Boao Pharmaceutical Co., Ltd. (referred to as “Wuhe Boao”) recently submitted its prospectus, preparing for a listing on the Hong Kong Stock Exchange. Before submitting the application, Wuhe Boao completed multiple rounds of financing, totaling 1.1 billion yuan, with a valuation of 4.038 billion yuan.

Among these, Wuhe Boao completed a 180 million yuan B+2 round of financing in December 2024, with a post-investment valuation of 3.938 billion yuan; in September 2025, it completed a 100 million yuan B+3 round, with a post-investment valuation of 4.038 billion yuan. The cost per share for Wuhe Boao’s Series B financing was 31.47 yuan.

Wuhe Boao is a biopharmaceutical company founded in 2010, focused on innovative natural medicines, specializing in the research, development, industrialization, and commercialization of high-tech barrier original drugs. Wuhe Boao has also developed drug delivery systems (“DDS”) to overcome technical bottlenecks in in vivo drug delivery.

According to the prospectus, Wuhe Boao’s revenue in 2024 was 208 million yuan, with a gross profit of 150 million yuan, and a net loss of 110 million yuan during the period.

In the first nine months of 2025, Wuhe Boao’s revenue was 207 million yuan, compared to a profit of 162 million yuan in the same period last year; gross profit was 154 million yuan, with a loss of 45.72 million yuan, and a profit margin of -22.1%.

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