Hong Kong IPO disclosure precedents · 41 companies, 45 items
The company grants exclusive sales, promotion or commercialization rights over its products to a collaboration partner (licensee or exclusive distributor) under long-term agreements, and relies on that partner to generate revenue.
Under the 2025 Supplemental Agreement, Junshi shall be responsible for the production of Junmaikang and is entitled to 40% of the net revenue from sales shipments, while we shall be responsible for the promotion of Junmaikang and is entitled to 60% of the net revenue from sales shipment; the R&D expenses of Junmaikang in China shall be borne 50%:50% between Junshi and us; the rights and interests of the international sales of Junmaikang shall be shared 50%:50% between Junshi and us.
Business · p. 187
During the transfer period and after we become the new MAH, the commissioned manufacturer of Junmaikang will remain Junshi’s affiliate.
Business · p. 187
In July 2025, the MAH transfer was completed, and we have become the sole MAH of Junmaikang.
(1) we and CRISPR will collaborate on the research, development, manufacture and commercialization and use of certain collaboration products utilizing our siRNA technology for targeting FXI (collectively, "Collaboration Products"), including our Core Product, SRSD107; and (2) we granted to CRISPR options to exclusively license our siRNA technology to target up to two licensed targets for the research, development, manufacture and commercialization of licensed products (collectively "Licensed Products"), in exchange for the potential to receive certain option fees, milestone payments and royalties.
Business · p. 181
Given the two Phase 1 clinical trials completed for SRSD107 demonstrated robust results, and considering the substantial resources required to advance SRSD107's Phase 2 and later stage trials and registration across its broad potential indications, we proactively sought a strategic partnership to optimize risk-sharing and resource deployment while retaining meaningful participation in the program's long-term value.
Business · p. 181
Our collaboration with CRISPR includes over US$800 million aggregated upfront and milestone payments.
We entered into a commercialization agreement with Pfizer, according to which, we grant Pfizer an exclusive right to commercialize injectable ecnoglutide (XW003) in Chinese Mainland.
Summary · p. 14
Pursuant to the Commercialization Agreement, we grant Pfizer an exclusive, sublicensable right to engage in commercialization activities of injectable ecnoglutide (XW003) for indications of obesity and T2DM (the “Products”), as well as other additional indications to be separately agreed upon by Pfizer and us (each an “Additional Indication”).
Business · p. 196
For overseas markets, we will largely rely on collaborations with regional partners which will be carried out mainly by themselves.
For ABP-671, we have entered into an exclusive commercialization agreement with CMS, covering Chinese Mainland, Hong Kong, and Macau.
Business · p. 146
CMS is granted the exclusive right to commercialize ABP-671 for the treatment of gout within the Territory during the term of ABP-671 Commercialization Agreement.
Business · p. 204
The ABP-671 Commercialization Agreement has an initial term from the effective date of the ABP-671 Commercialization Agreement until the tenth anniversary of the date the product obtains marketing approval in the Territory.
On December 12, 2025, we entered into a commercialization collaboration with Qilu Pharma Co., Ltd. (齊魯製藥有限公司) (“Qilu Pharma”), a nationwide pharmaceutical company in China, for the commercialization of AK0901 in Chinese Mainland (“Qilu Agreement”).
Business · p. 202
While decisions require consensus, Qilu Pharma generally holds the final decision-making power for development and commercialization of AK0901 within Chinese Mainland, except that neither party shall have final decision-making authority with respect to annual sales targets in Mainland China.
Business · p. 202
Failure to meet 80% of the sales targets set forth in the commercialization plan for two consecutive years may result in compensation payable to us.
During the Track Record Period, our revenue was primarily derived from our license and collaboration agreements with our business partners.
Business · p. 358
Our license and collaboration agreement with Qilu Pharmaceutical would not have adverse impact on our Core Product or other drug candidates, considering that: (i) the exclusive license granted to Qilu Pharmaceutical covers only the patents and know-how specifically related to RBD7022 and RBD7022 Products. While the agreement provides for “treatment, prevention and diagnosis of all human diseases,” RBD7022’s therapeutic scope is inherently limited as it specifically targets PCSK9 to regulate cholesterol metabolism through RNA interference technology; and (ii) the license allowing Qilu Pharmaceutical to utilize the patents and know-how of our RiboGalSTAR^TM^ and RSC platform technologies is non-exclusive and does not prevent us from utilizing these technologies for the development of our Core Product and other drug candidates.
Summary · p. 8
Our license and collaboration agreement with Boehringer Ingelheim would not have adverse impact on our Core Product or other drug candidates, as the license granted to Boehringer Ingelheim is limited to exploiting only the specific compounds and products identified under the agreement. We retain full ownership of the Licensed Technology, and are entitled to use the Licensed Technology for all purposes, without restrictions, outside the scope of the granted license, including to develop and exploit any compounds and products other than those specifically identified by Boehringer Ingelheim under this collaboration.
We have obtained the exclusive performance right of the Impression — Dahongpao Scenery Show, as well as the trademark and entitlement to revenue from the performance of the show under the tripartite arrangement among Fujian Mount Wuyi Cultural Tourism Group (one of our Controlling Shareholders), Impression Art Development and our Company.
Summary · p. 3
According to the said agreement, we need to pay Impression Art Development for the exclusive use right of the intellectual property rights for the show.
In July 2025, we entered into an exclusive sales agency agreement with Anhui Anke Biotechnology (Group) Co., Ltd. ("ANKE BIO", SZSE: 300009), an Independent Third Party, pursuant to which we granted ANKE BIO an exclusive right to market, sell, distribute, and promote SJ02 in Mainland China, Hong Kong, Macau, and Taiwan ("Greater China"), and accordingly, ANKE BIO acts as an exclusive CSO responsible for the commercialization of SJ02 in the same region.
Business · p. 366
Furthermore, we entered into an exclusive sales agency agreement with ANKE BIO, pursuant to which a minimum annual purchase quantity for each year of the contract period shall be fulfilled by purchases from ANKE BIO.
Summary · p. 34
We also received NDA approval from the NMPA for SJ02 in August 2025, and we completed delivery of the first SJ02 order in November 2025.
In January 2024, Consumption Guide commenced collaboration with Auto Partner A and became its exclusive online display and marketing channel for the retail of automobiles in Northern China covering Beijing, Tianjin, Hebei Province and Inner Mongolia.
Business · p. 155
Since January 1, 2024, the sole marketplace supplier on Consumption Guide has become Auto Partner A, an automobile retailer.
Business · p. 171
The transaction value generated under collaboration with Auto Partner A from online and offline automobile sales were approximately RMB13.8 million and RMB4.3 billion, respectively, for the year ended December 31, 2024.
To advance its global reach, we out-licensed the rights to research, develop, manufacture, and commercialize VV116 in specific countries and regions including China, to Junshi Biosciences.
Business · p. 276
In 2023 and 2024 and the first four months of 2024 and 2025, we generated revenue from the royalty payments in connection with the sales of VV116 in the PRC of RMB11.8 million and RMB5.1 million, RMB1.0 million and RMB0.3 million, respectively, and from our sales of pharmaceutical products of RMB0.7 million, RMB1.5 million, RMB4.0 thousand and RMB2.6 million, respectively.
Financial Information · p. 444
Moreover, we proactively pursue licensing and collaboration arrangements with leading industry players to maximize the clinical and commercial value of our assets, exemplified by out-licensing agreements with Junshi Biosciences.
After signing of the GFH925 License Agreement, Innovent became the sponsor of the GFH925X1101 trial in China and is thereafter solely responsible for the development and commercialization of GFH925 in the Greater China region.
Summary · p. 17
Also, Innovent is the marketing authorization holder ("MAH") of GFH925 in Greater China.
Summary · p. 17
For pipeline products that we out license certain rights, including commercialization rights, in certain jurisdictions to collaborators, our results of operations will likely depend on the collaborators' promotional and marketing efforts once those products are approved in the relevant jurisdictions.
Under this agreement, we grant NewCo an exclusive, worldwide license to develop, manufacture, commercialize and otherwise exploit our pre-clinical asset LBL-051, a CD19/BCMA/CD3 T cell engager for all uses, subject to NewCo’s election to exercise its option to retain such license after the applicable option period.
Summary · p. 17
We reached collaboration with Aditum Bio, a biotech venture firm, through the NewCo model to facilitate the global commercialization of LBL-051, with a total deal value of up to US$614 million plus potential mid-single-digit royalties and an equity stake in NewCo.
Business · p. 414
As of the Latest Practicable Date, we have received the upfront payments totaling US$15.0 million and near-term payments of US$4.4 million under this agreement, for which we had not yet completed the corresponding performance obligation to recognize as revenue.
We entered into a commercialisation licensing arrangement (the “Licensing Agreement”) with Grand Pharma (China) Co., Ltd. (“Grand Pharma”) on 13 April 2020, pursuant to which we granted Grand Pharma an exclusive, sublicensable, royalty-bearing licence to manufacture and commercialise CBT-001 in all human use of CBT-001 (including prevention of pterygium progression and reduction of conjunctival hyperaemia) (the “Field”) in mainland China, Hong Kong, Macau and Taiwan (the “Territory”).
Business · p. 332
We believe that the collaboration with Grand Pharma under the Licensing Agreement will equip us with broader commercialisation access in the Territory.
Business · p. 336
(ii) Grand Pharma’s rights on manufacture and commercialise CBT-001 are limited by the Licensing Agreement, and the relevant manufacturing and commercialisation plans and progress shall be reported to and discussed at the JSC, in which we have four out of six members seats.
Under the Santen Licensing Agreement, we granted Santen and its affiliates an exclusive, fee-based, milestone and royalty-bearing license, with the right to sublicense,
Business · p. 337
The one-time upfront payment of US$10.0 million has been made in full by Santen to us in two batches in September 2024 and November 2024, respectively.
Business · p. 339
We believe that the collaboration with Santen under the Santen Licensing Agreement will equip us with broader commercialisation access in the Territory.
Pursuant to the Collaboration Agreement, we granted the Commercialization Partner an exclusive, sublicensable license to promote and commercialize PB-119 in the Territory.
Summary · p. 15
Considering the marketing and sales expenses and the relevant expertise required, we entered into a commercialization collaboration arrangement on September 13, 2024 with a leading domestic commercialization-stage pharmaceutical company regarding the future marketing and commercialization activities of PB-119 in Mainland China.
Business · p. 308
As part of the consideration for granting the commercialization rights to the Commercialization Partner and subject to the terms and conditions of the Collaboration Agreement, and provided that the drug registration certificate for PB-119 is received no later than a specified date, we are entitled to receive from the Commercialization Partner, within a specified period after we obtain the drug registration certificate for PB-119 issued by the NMPA, (i) a one-time upfront payment of slightly over RMB100 million (the “Upfront Payment”) and (ii) a one-time milestone payment (the “Milestone Payment”), the amount of which is based on the timing of obtaining such drug registration certificate, and the minimum amount of the Milestone Payment is low-double digit million RMB.
On January 10, 2025, we entered into a collaboration agreement with 3SBio Inc. (HKEX: 1530, "3SBio") through its subsidiaries (the "3SBio Collaboration Agreement"), pursuant to which we have appointed 3SBio as our commercialization partner in Mainland China, Hong Kong, and Macau (the "Territory") to promote DB-1303 for certain indications.
Business · p. 418
In partial consideration of the 3SBio Collaboration Agreement, 3SBio has paid us a non-refundable upfront payment of US$25 million.
Business · p. 419
We retain all rights related to DB-1303 not expressly granted to 3SBio, including the exclusive rights to (i) conduct R&D, regulatory (including as Marketing Authorization Holder), and manufacturing activities for DB-1303 in the Territory, and promote DB-1303 outside the Territory; (ii) maintain responsibility for DB-1303's sales and distribution activities, except where 3SBio is authorized to provide assistance for channel management, distributor recommendations, and other limited functions as specified in the 3SBio Collaboration Agreement; and (iii) perform safety monitoring and pharmacovigilance, provided that 3SBio's ability to carry out its responsibilities with respect to pharmacovigilance is not impeded.
In June 2021, we established exclusive cooperation relationship with a world-leading multi-national verification, testing and certification solutions provider, namely SGS, in China pursuant to a strategic cooperation agreement entered into between the parties (the “June 2021 Agreement”), whereby we were appointed as the exclusive partner of SGS in China in relation to ICV simulation tool chain and SGS was appointed as our exclusive partner in respect of FuSa certification for advanced ICVs.
Business · p. 320
In April 2024, we entered into a strategic cooperation agreement with another worldleading testing and certification solutions provider, namely TÜV SÜD, in China pursuant to which the parties agreed to collaborate in high levels of intelligent driving and related testing and certification through exchange of knowledge and information and joint organisation of industry events and activities.
Business · p. 321
Our Directors are of the view that the strategic collaboration with our major business partners offer us significant competitive edge for technology innovations and business development.
During the Track Record Period, a majority of the sales of our intelligent automotive vision products were attributable to Geely Related Group.
Summary · p. 6
In 2021, 2022 and 2023, our tender success rates for intelligent automotive lamp projects from Geely Related Group were 80.0%, 53.3% and 40.0%, respectively.
Summary · p. 6
We do not anticipate any adverse changes to the relationship and consider such changes to be unlikely.
The delay in the launch of new flagship products was primarily caused by the pandemic prevention policies under which transport of the testing machines used for the co-development projects among us, Semiconductor Corporation A and Technology Corporation A were hindered.
Summary · p. 13
Benefiting from our long-term strategic cooperation on multiple projects with international leading technology companies, such as Semiconductor Corporation A, our technical level and solution capabilities have been effectively improved.