Good News on Listing | Frost & Sullivan Assists Huarun Kaiman Co., Ltd. to Successfully List on the Hong Kong Stock Exchange (02256.HK)

Harvestors International Holdings Limited (hereinafter referred to as 'Harvestors') successfully went public on October 13, 2021, with an issue size of 141 million shares at a tender offer price ranging from HK$12.16 to HK$12.46, raising approximately HK$1.75 billion. Frost & Sullivan (Frost & Sullivan, hereinafter referred to as 'Frost & Sullivan') provided exclusive industry advisory services for Harvestors' listing, and we hereby extend our warm congratulations on its successful listing.

During the Hong Kong listing process, Frost & Sullivan mainly undertook the following tasks: helping the company accurately and objectively understand its positioning in the target market, using objective market data to discover, support, and highlight the company's competitive advantages, assisting the company, investment banks, and other intermediaries in completing relevant parts of the prospectus (such as the overview, competitive advantages and strategy, industry overview, business, and other important sections), facilitating communication with the Hong Kong Stock Exchange and investors, helping investors quickly understand the market ecosystem and competitive landscape, and assisting the company in responding to various questions from the Hong Kong Stock Exchange regarding the industry.

Precision treatment for small molecule tumors includes selective and non-selective kinase inhibitors, as well as other types of inhibitors. Non-selective kinase inhibitors exert their antitumor activity by targeting a wide range of kinases simultaneously, or by targeting multiple signal molecules within multiple signaling pathways. Selective kinase inhibitors target specific signal molecules within a single pathway, such as epidermal growth factor receptor (EGFR), vascular endothelial growth factor receptor (VEGFR), and fibroblast growth factor receptor (FGFR).

In 2020, the global market for small molecule precision oncology treatment reached $542 billion, of which the United States accounted for $318 billion and China for $54 billion. By 2025, 2030, and 2035, the global market for small molecule precision oncology is expected to grow to $918 billion, $1094 billion, and $1282 billion, with compound annual growth rates of 11.1%, 3.6%, and 3.2% respectively.

Fibroblast growth factor receptor 4 (FGFR4) binds to its ligand fibroblast growth factor 19 (FGF19), which regulates bile acid metabolism and post-injury liver regeneration in hepatocytes. Abnormal activation of the FGFR4 signaling pathway is a major cause of subgroups of patients with hepatocellular carcinoma (HCC). In these patients, FGF19 is overexpressed in hepatocytes, leading to autocrine signaling and tumor growth. FGF19 is also highly expressed in luminal breast tumors. FGFR4 inhibitors block the catalytic activity by binding to the kinase domain of FGFR4, preventing the activation of downstream pathways and thus preventing tumor growth.

The global FGFR4 market is expected to reach $231 million by 2025, grow to $24.35 billion by 2030, with a compound annual growth rate of 60.1%, and increase to $33.48 billion by 2035, with a compound annual growth rate of 6.6%.