Changsha-based pharmaceutical enterprise listed on Shenzhen stock exchange

The DJWK Medical Co., Ltd. (DJWK), a Changsha-based pharmaceutical enterprise, was listed on the Shenzhen Stock Exchange's board of growth enterprises, the ChiNext board on December 7. This is Changsha’s 8th newly-added A-share listed company this year. A ceremony to mark the listing was held in Changsha and Shenzhen. Wu Guiying, member of the Standing Committee of the CPC Hunan Provincial Committee and secretary of the CPC Changsha Municipal Committee, and Hunan Vice Governor He Baoxiang, attended the ceremony in Changsha.

Founded in December 2002, DJWK is headquartered at the Yuelu High-tech Development Zone, Changsha. It is a comprehensive innovative pharmaceutical enterprise that integrates industry, university and research institution, with pharmaceutical wholesale and retail business as the core and industrial chain extension business as a supplement. It is one of Hunan’s top 100 private enterprises, and one of the province’s leading pharmaceutical enterprises. In recent years, DJWK has actively promoted the Direct to Patient (DTP) pharmacy layout. In 2016, the company became one of the province’s first group of pharmacies that signed speciality drug agreements. It was rated as one of the top 10 DTP pharmacies in 2019 and excellent specialized DTP pharmacies in 2020.

The company's issue price was fixed at 12.37 yuan per share, at a P/E (price to earnings) ratio of 40.58 times. It is planned to raise 510 million yuan, which will be mainly used to consolidate the main business, expand the layout of chain pharmacies and build an intelligent logistics center.

The listing of DJWK is a new milestone in the development history of enterprise innovation, and also marks Changsha’s rapid and significant development in deepening the reform of capital market and promoting the listing of enterprises. It is the epitome of Changsha local enterprises competing for capital market, accelerating transformation and upgrading, and enhancing core competitiveness. Changsha now has 78 A-share listed companies, accounting for the province’s 60%, and ranking fifth among provincial capitals in China and first among provincial capitals in central China.

Translator: Kuang Zhenzhen