The pace of drug listings in Hong Kong has accelerated significantly since the hkex's new listing policy allowed unprofitable biotech companies to list in Hong Kong. 

The company has been established for eight years, and only had sales revenue last year. A Chinese unicorn biotech company with a market value of more than $10 billion was listed in Hong Kong in August, becoming the second biotech upstart not to make a profit in Hong Kong and the first Chinese biotech company to list in both the us and Hong Kong. 

It is a biotech company focused on developing and commercializing innovative molecular targeted and immunotherapeutic drugs for cancer,established in 2010 and headquartered in Beijing.In February 2016, it was listed on nasdaq in the United States. Since then, the market value of three secondary offerings in the us stock market has increased from $700 million to over $9.265 billion, or RMB 63.096 billion. It has become a comprehensive development enterprise with over 1,300 employees covering research, clinical development, production and commercialization. 

From the point of view of Baijishenzhou, the raised funds are mainly used to invest in existing pipeline products.At present, six self-developed candidate drugs have been promoted to the clinical stage, and three of them are in the late clinical stage.According to Dr. Liang heng, chief financial officer and chief strategy officer of Baijishenzhou, the two leading drugs are BTK inhibitors for blood tumors such as lymphoma and leukemia, and pd-1 inhibitors for immune tumors such as liver cancer, lung cancer, stomach cancer and esophageal cancer. 

Notably, the Hong Kong listing is in the form of primary listing rather than secondary listing.The difference between the "dual listing" and the secondary listing is that both the U.S. and Hong Kong capital markets are the first place for companies to list, and the dual listing mainly means that companies need to abide by both market rules. 

The company was listed on nasdaq as early as February 2016, making it the first domestic biotech company to list in the United States. Since then, the company has expanded beyond its borders after several rounds of additional share offerings on nasdaq, and it has become a global company. 

This year, thanks to the reform of Hong Kong stock listing rules, it seized the opportunity to land on the Hong Kong stock exchange, becoming the first unprofitable biotech company to be listed on both the main board of the stock exchange and the stock exchange of Hong Kong. It also became the first mainland company to list in the us this year after the hkex's new rules were implemented. The company was successfully listed in Hong Kong on August 8, and raised nearly 7 billion Hong Kong dollars in its IPO, officially becoming a super unicorn with a market value of 10 billion us dollars.