On June 24, Maike Medicine-B officially debuted on the Hong Kong Stock Exchange main board, surging 89.56% in regular trading to HK$34.68 per share, with turnover of HK$221 million. The stock opened at HK$34.02, representing an approximately 87% premium over its IPO price of HK$18.20.

The strong debut was driven by extraordinary subscription demand. The Hong Kong public offering was oversubscribed 1,181.46 times with a one-lot winning rate of only 3%, while the international placement received 2.52 times oversubscription. The company issued approximately 58.05 million H shares at HK$18.20 per share, raising net proceeds of approximately HK$989 million. Three cornerstone investors — including Qiyuan Hong Kong, Everest Medicines, and Shunming Capital — collectively subscribed for approximately HK$449 million worth of shares.

Maike Medicine-B is a biopharmaceutical company focused on discovering, developing, and commercializing dual/multi-specific peptide drugs targeting metabolic diseases and cardiovascular diseases. Its core product MT1013 is a dual-target receptor agonist peptide currently in Phase III clinical trials for treating chronic kidney disease-related secondary hyperparathyroidism, with expected commercialization by early 2028. The company remains unprofitable, with losses expanding year-over-year due to increasing R&D expenditures.

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