Deloitte assists listing of Hinova on SSE STAR Market

1st IPO in Southwest China adopting 5th set of listing standards

With the registration-based regime of the SSE STAR Market and ChiNext is now being implemented, we are delighted to share that Deloitte China supported the successful listing of Hinova Pharmaceuticals Inc. ("Hinova") on Shanghai Stock Exchange ("SSE"). With its debut on the SSE STAR Market on 12 April 2022, Hinova became the 1st company in Southwest China list under the market's 5th set of listing standards (i.e. non-profit/ pre-revenue).

Hinova offered 24.67 million A shares raising around RMB1.06 billion.

(from left) Amber Zuo, Audit & Assurance manager; Shirley Ling, Western region offering services leader of Capital Market Services Group; Yuanwei Chen, founder, president and CEO of Hinova; Yuanlun Chen, co-controller of Hinova; and Olina Ouyang, senior A&A manager attend Hinova's listing ceremony.
(from left) Shirley Ling, Western region offering services leader of Capital Market Services Group; Olina Ouyang, senior A&A manager; and Amber Zuo, A&A manager attend Hinova's listing ceremony.

About the client

Hinova is an international innovative drug company that leverages deuterium and PROTAC targeted protein degradation technologies to develop drugs for major clinical needs.

The company focuses on the research and development (R&D) of innovative drugs in major treatment fields including tumors and metabolic diseases with the strategic goal of "creating innovative, quality medicines for patients across the world". It is committed to providing patients with safe, effective and affordable drugs through the development and production of innovative drugs that meets global medical needs.

For tumor and metabolic diseases, Hinova has established platforms for deuterated drug R&D, PROTAC targeted protein degradation technology, targeted drug discovery and verification, and compound optimization screening.

Source: Prospectus of initial public offering of Hinova on 7 April 2022.

About the IPO engagement

As Hinova's reporting accountant, Deloitte China started preparations for the company's IPO in July 2020. With the full support of a diverse professional services team, including audit & assurance, tax, risk and advisory and professional technical support professionals, we provided Hinova with a professional, high-quality audit using our vast industry experience and outstanding services to assisted in its IPO.

Background and significance of the engagement

Hinova is an important strategic customer of Deloitte China in the life sciences sector, and Western region's (WR) 2nd life sciences client to list on the SSE STAR market after Hitgen lnc. This underscores the strength of our WR's services and enhances Deloitte China's core competitiveness in life science and health care. Hinova's listing is a milestone in Deloitte China's efforts to provide more services to leading enterprises regionally and throughout China.

Deloitte China congratulates Hinova on its successful listing on the SSE STAR Market. We will continue to provide high quality professional services to assist more clients to take one-step ahead in today's increasingly competitive and complex business environment.

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