Zhejiang Medicine: Plans to spin off subsidiary New Code Biotech for listing on the Main Board of the Hong Kong Stock Exchange

MarsBitNews · 2026-04-10T10:19:22+00:00

Zhejiang Medicine plans to spin off its subsidiary, Xinma Bio, for a Hong Kong listing, with an expected retention of control. This move aims to optimize the business structure, unlock the valuation potential of innovative drugs, expand financing channels, and enhance competitiveness. Xinma Bio focuses on the research and development of innovative biopharmaceuticals.

MarsBitNews

2026-04-10 10:19:22

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Mars Finance News: On April 10, Zhejiang Medicine announced that the company disclosed a plan to spin off its subsidiary Zhejiang Xinma Biopharmaceutical Co., Ltd. for listing on the Main Board of the Hong Kong Stock Exchange. After this spin-off is completed, Zhejiang Medicine is expected to maintain control over Xinma Biopharmaceutical, and the financial condition and profitability of Xinma Biopharmaceutical will still be reflected in the company’s consolidated financial statements. Xinma Biopharmaceutical mainly focuses on innovative biopharmaceutical research and development, with core pipelines including ADC drugs such as ARX788. The purpose of this spin-off is to streamline the business structure, unlock valuation potential in the innovative drug sector, expand financing channels, and enhance overall competitiveness. (Company Announcement)

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