Shenzhou Cell plans to establish an "A+H" listing: total market value of 18.6 billion yuan, with 60-year-old founder Xie Liangzhi holding a Ph.D. from MIT.

RuiFinance Li Lan On April 2, Shenzhou Cell (688520.SH) released a notice regarding matters related to planning the issuance of H shares and listing them on the Hong Kong Stock Exchange.

The announcement shows that the company plans to issue overseas-listed foreign shares (H shares) and apply for listing on the Main Board of the Hong Kong Stock Exchange. The company will fully take into account the interests of existing shareholders and the conditions of domestic and overseas capital markets, and within the validity period of the shareholders’ meeting resolution, select an appropriate time and offering window to complete this issuance and listing.

Shenzhou Cell stated that this move is intended to build an internationalized capital operations platform, enhance the company’s capital strength and comprehensive competitiveness, and further advance its internationalization strategy.

Shenzhou Cell is an innovative biopharmaceutical and vaccine R&D company founded by Dr. Liangzhi Xie, an internationally renowned expert in biopharmaceutical R&D and industrialization and an expert from the Major Special Program on New Drug Development and Creation.

Recently, Shenzhou Cell completed its 2025 annual issuance of A shares to specific targets. The total amount of funds raised for this private placement is RMB 900 million. After deducting underwriting fees and other related issuance expenses, the net proceeds are RMB 892 million. All funds have been fully received as of March 25, 2026, and have been deposited into a dedicated account for raised funds. The actual proceeds will be used entirely to supplement working capital.

The chairman of Shenzhou Cell is Liangzhi Xie. In 2024, his compensation was RMB 175.1 thousand. Public information shows that Liangzhi Xie was born in 1966 and graduated from the Department of Chemical Engineering at the Massachusetts Institute of Technology. He previously served as a senior engineer and researcher at Merck in the United States. An internationally renowned expert in biopharmaceutical R&D and industrialization; from December 2012 to present, he has served as an expert for the national “Major Special Program on New Drug Development and Creation.”

According to Shenzhou Cell’s 2025 performance quick report, the company will turn from profit to loss in 2025. The company’s operating total revenue will be RMB 1.56 billion, down 37.91% year over year; net profit attributable to owners of the parent company will be -RMB 553 million.

As of the close on April 3, Shenzhou Cell’s share price was RMB 41.67 per share, and its total market value was RMB 175.1k.

Relevant companies: Shenzhou Cell sh688520