As a mage, I just want to pursue the truth

Chapter 43 Prospectus

A company's first public offering, also known as an IPO (Initial Public Offerings.

The materials that need to be prepared for a domestic IPO include a prospectus, the company's annual report (and quarterly report), which include the company's three major financial statement data, securities research institutes and investment banks' historical "research reports" on the company, and the company's published information. All announcements.

Kechuang Bio has been established for a short time, and the annual and quarterly reports are relatively well prepared and the materials are very clear.

The most important of these materials is the prospectus. The content of the prospectus is mainly:
How many shares do you want to issue and what percentage of the company's total share capital.

Among them, the domestic sci-tech board listing rules require that the publicly issued shares reach more than 25% of the company's total shares; if the company's total share capital exceeds RMB 4 million, the proportion of publicly issued shares is more than 10%.

Kechuang Bio's total share capital far exceeds 4 million yuan, so the proportion of shares issued to the public is at least [-]%.

The second is the company's risk situation, what are the capital risks, talent risks, R&D investment risks, business expansion risks, team stability risks, etc.

Kechuang Biology’s original prospectus stated that the proportion of R&D investment is very high, which may not guarantee the expected return on R&D investment. The brokerage company wrote this article as the biggest risk.

It has to be changed now. After the brain-computer connection technology comes out, the biggest risk is the risk of facing anti-monopoly investigations. It may be better in China. American will almost 100% conduct anti-monopoly investigations on you.

The prospectus also includes financial data for the most recent year, as well as the company's expected future operations.

Kechuang Bio's products are single, only endorphins, which is relatively easy to predict.

Affected by the epidemic and the effect of endorphins on reducing addiction is widely used, the current situation is that endorphins can be sold as much as there is production capacity, so the expected operating income in the future is also relatively predictable.

However, Kechuangbiology has launched the brain-computer connection technology, and it is still charged according to the production volume of the mobile phone company. This amount is not easy to calculate.

Only the highest-end products of each manufacturer will use brain-computer connection technology. It is very troublesome to estimate the specific patent licensing fee.

Because Li Shuyao and Li Miaomiao are sisters in this part of the work, CICC handed over this part to her.

Huaguo's Science and Technology Innovation Board has only officially landed in 19 years, and its goal is to prepare a special board for the listing of high-tech companies.

Therefore, there is a very important piece of content in the prospectus. The general content is the issuer's technological advancement, model innovation, R&D technology industrialization and future development strategy.

Originally, CICC wanted to follow the template of a biomedical company, which is simple.

As a result, a brain-computer connection was made. There are not many domestic companies that do this, let alone listed companies.

The technological advancement is very advanced, but the problem is that CICC has to re-express it.

About this piece of brokerage originally wrote:

"The main core technology currently owned by the company is the "industrialized production process of α-endorphin", which is a large-scale production technology of long-chain organic compounds.

This technology won the first prize of National Science and Technology Achievement Award. The successful research and development of this technology marks that the company has overcome a problem that no one has solved before, filled the domestic and foreign gaps in the field of analgesics, and led the high-end substitution in the field of analgesics.

At the beginning of its establishment, Kechuang Biotech set the development goal of becoming a world-class biopharmaceutical company. A world-class biopharmaceutical company must have top R&D capabilities and a rich drug R&D pipeline.The company is not satisfied with the achievements of α-endorphin, but has continuously introduced talents. In just two years, 479 doctors and 928 masters have been introduced. The R&D team is all composed of doctors and masters.

At present, in addition to the optimization of the industrial production process of α-endorphin, from the perspective of drug therapy, the company has deployed inhibitory and lethal targeted antibody drugs for malignant tumors (for example, EGFR for the treatment of various solid tumors) Monoclonal antibody SCT200 and its second-generation product SCT210), tumor vascular inhibitors targeting antibodies (for example, VEGF monoclonal antibody SCT510 and its second-generation product SCT520F for the treatment of various solid tumors) and a series of innovative biopharmaceutical products.

The company adheres to the following product development strategy:

The primary goal is not simply to pursue the speed of research and development: the company's early research and development does not simply aim to pursue the speed of research and development, but to develop products that can solve the accessibility of biological drugs, meet the needs of clinical drugs, and have potential differentiated market competitiveness. Biological medicine is the core goal, and the research and development progress of the product pipeline is steadily promoted;
Taking into account the breadth, depth and R&D speed of the product pipeline: the company's product pipeline is independently developed based on the company's aforementioned overall R&D strategy, its own technical capabilities and advantages. Biopharmaceutical varieties, including innovative varieties for future multi-variety combined drug storage.”

The researchers of the brokerage firm wrote a lot of eloquently, but once the brain-computer connection was released, they were all finished and had to be rewritten.

Kechuang Bio is a company completely oriented by research and development, and Cheng Gang has no say in research and development.

The most nonsense lies in the industrialization of R&D technology and future development strategy. They don't know the development direction of Kechuangbio's future technology industrialization of brain-computer connection.

Even more unclear about the future development strategy of Kechuang Bio, CICC and CITIC Securities were tortured. They approached Cheng Gang, and Cheng Gang said he wanted to ask Mr. Zheng.

CITIC and CICC asked if they could talk to Mr. Zheng directly. There were many things we didn’t understand, and Cheng Gang said that he couldn’t see Mr. Mr. Zheng. These were trivial matters for Mr. Mr. Zheng and he would not meet you.

Each message had to be relayed several times, and finally Zheng Li agreed to communicate with them by email. Every time Zheng Li replied, the emails were so hard-core that it took a long time for a Ph.D. in biology from the investment banking department of CICC to understand.

There are many PhDs in various disciplines in the core departments of securities companies.

The main business model, main content of products or services of Kechuangbiology must also be overthrown and completely restarted.

Li Shuyao: "The recent workload is really astonishing. My work intensity is no longer that of an intern. It is already the work intensity of their regular employees."

"The problem is I'm getting an intern's salary!"

Li Miaomiao comforted: "When you come to Gusu, I will treat you to a big meal, there is no upper limit."

Li Shuyao enviously said: "You are so happy. It is impossible for Zheng Li to treat you badly when Kechuang Biology is listed, and you will be free of wealth directly."

"How much market value shares can you get?"

Li Miaomiao: "I don't know, your prospectus hasn't been made yet, so how do I know what the share capital is and how many shares are issued?"

"Wait for you to make the prospectus before we can carry out the follow-up process."

　Thank you Fengyunxu for your reward!
　　
　
(End of this chapter)