Why did the listing plan of Dikang pharmaceutical industry end suddenly?

[pharmaceutical network industry trends] recently, the industry has been paying attention to the situation of pharmaceutical companies going to Hong Kong for listing While a batch of unprofitable biopharmaceutical companies go to Hong Kong for listing, there are also plans for pharmaceutical companies to terminate listing Recently, Blu ray development company announced that it decided to terminate the overseas listing plan of its subsidiary Chengdu Dikang Pharmaceutical Co., Ltd according to the current capital market environment, after the company's research and the resolution authorized by the shareholders' meeting It is puzzling that this pharmaceutical company has been planning to go public in Hong Kong Although it has been slow in progress, why did it suddenly terminate at this time? It is understood that in August 2018, Blu ray development considered and passed the proposal on the overseas listing plan of its holding subsidiary, Dikang pharmaceutical According to the plan at that time, Dikang pharmaceutical intends to issue overseas listed foreign shares (H shares) and apply for listing on the main board of the Hong Kong Stock Exchange However, the company has not yet submitted application materials to the CSRC and the stock exchange of Hong Kong, according to a recent announcement In response to the problem of why Dikang pharmaceutical industry suddenly terminated its listing in Hong Kong, Blu ray development has now responded that the listing of Blu ray Jiabao on the main board of the Hong Kong Stock Exchange has built a "a + H" dual capital platform and added a H-share listed company, which is no longer of great urgency At the same time, do not exclude the possibility of domestic listing of Dikang pharmaceutical I learned that on October 18, blue light Jiabao service was listed on the main board of Hong Kong stock exchange, becoming the first property company listed on the main board of Hong Kong Stock Exchange in Southwest China As a cornerstone investor, longyuanmingcheng, a wholly-owned subsidiary of Longyuan Construction Group Co., Ltd., invested HK $117 million in Bluelight Jiabao service The cooperation between the two sides is expected to improve their project operation capacity in the field of PPP At the same time, the two sides are expected to jointly explore the public construction property market and achieve mutual benefit and win-win results According to the data, Dikang pharmaceutical is a national high-tech enterprise focusing on pharmaceutical industry, integrating research and development, manufacturing and marketing of drugs and medical devices At present, it has 360 registration documents of drugs and medical devices In 2015, Blu ray completed A-share listing through backdoor Dikang pharmaceutical According to the company's strategic planning, Blu Ray's development business is divided into two parts: "Habitat Blu ray" and "life Blu ray" Among them, "life blue light" focuses on the development of medicine and 3D biological industry However, the revenue contribution of this sector has not improved much, and Blu ray development has been hoping to spin off the Dikang pharmaceutical industry On the evening of April 29 this year, Blu ray development announced that the interim general meeting of shareholders of the company had voted to adopt the proposal on the overseas listing of Chengdu Dikang Pharmaceutical Co., Ltd., the holding subsidiary of the company, which still complies with the requirements, and split its pharmaceutical companies into listed companies The company also said in the announcement that the proposal for the spin off and listing of pharmaceutical companies is another spin off and listing plan of Blu ray development subsidiary after the property company Jiabao submitted its listing application to the Hong Kong Stock Exchange about one month ago According to the company's semi annual report in 2019, in 2019, the company's operating revenue of medicine and 3D biological printing was only 480 million yuan, down 11.57% year-on-year; the operating cost increased 13.25% year-on-year, and the gross profit rate decreased 6.98% year-on-year It can be seen that its contribution to operating revenue is indeed very low In addition, in drug research and development, in the first half of 2019, ddci-01, a class 1 innovative drug in the field of innovative drugs, was signed and implemented, and it is expected to enter phase 1 clinical trials within the year; in the field of generic drugs, the production approval documents of lamivudine and tenofovir were successfully obtained through acquisition; and the production approval documents of esmeralazole sodium for injection, a self-developed product, were successfully obtained.