HAIXI PHARMA (02637) rose over 10% in afternoon trading, hitting a record high of HK$145.9, marking a nearly 70% increase from its IPO price of HK$86.4. At the time of writing, the stock was up 10.87% at HK$145.9, with a turnover of HK$16.71 million.

As a commercial-stage pharmaceutical company, HAIXI PHARMA has 15 approved generic drugs covering therapeutic areas such as digestive, cardiovascular, endocrine, and nervous systems. Since 2021, four of its core generics—Anbili, Ruiantuo, Haihuitong, and Saixifu—have been included in China's national centralized drug procurement program. In 2024, these four products contributed over 90% of the company's revenue, totaling RMB 425 million.

Notably, HAIXI PHARMA has also ventured into innovative drug development. Its pipeline includes C019199, a pan-cancer immunotherapy targeting CSF-1R/DDR1/VEGFR2, currently in Phase I/II trials for osteosarcoma and tenosynovial giant cell tumor, with Phase III trials for osteosarcoma planned for H2 2025. Another candidate, HXP056, an oral treatment for wet age-related macular degeneration, is expected to complete Phase I trials by end-2025.