China-based CSPC Innovation Pharmaceutical, with a market capitalisation exceeding RMB 64.4 billion, is advancing plans for a dual listing on the Hong Kong Stock Exchange (HKSE). The company announced board approval to pursue an initial public offering (IPO) of H-shares to enhance its global strategic layout and international competitiveness. Concurrently, the company will acquire an additional 29% stake in Jushi Biologics for RMB 1.1 billion, increasing its ownership to 80%.

CSPC Innovation, formerly known as FitnessZone, is transforming from a functional foods business into an innovative pharmaceutical company through acquisitions. Jushi Biologics is an innovative biopharmaceutical company with a pipeline focusing on antibody-drug conjugates (ADCs), monoclonal antibodies (mAbs) and mRNA vaccines. Its lead products, including enlonstobart and omalizumab, were launched in 2024. This move establishes CSPC Innovation as CSPC Group's core innovative drug platform.