CHFT Valuation Sharing Seminar : Chapter 18A Listing Rules and Valuation for Biotech Companies

Sharing often bring new insights and inspirations. With the success of CHFT Valuation Sharing Seminar on 10 June 2019, professionals gather to learn and know more on the latest listing rules and valuation for Biotech companies. 

Recently, the Hong Kong Stock Exchange(“HKEX”) published the consultation conclusions on its proposals to expand the listing regime to enable the listing of companies from emerging and innovative sectors. The objective is to facilitate the listing of companies from innovative and emerging sectors. As there is no local medical regulatory body in Hong Kong, HKEX would be more conservative during the approval process of the listing of Biotech companies. Investors and valuers may refer to the U.S. Food and Drug Administration or State Food and Drug Administration for more reliable and diverse data.

In the seminar, our executive director Ms. Stella LAW and our director Mr. Ross WANG, had shared our overview of requirements under Chapter 18A, recent market trends and valuation methods for Biotech companies and more importantly, their professional insight on the topic. In the Q&A session, the audience raised some interesting questions, such as how to substantiate a discount rate and how to differentiate a good medical product from poor one, and our speakers addressed all the questions with their experiences - clearing the frogs on the topic. 

The seminar also drew attention from a couple of reporters from various local press, please kindly refer to the report of SingTao and Oriental Daily.



“Ms Stella LAW (CHFT) said that this kind of stocks has a higher risk, HKEx should put more emphasis in educating investors and helping individual investors to know about the potential return and risk of each development phase of a Biotech company stock.”
Finance Section, Sing Tao Daily (11 June 2019)

華坊分享專題講座: 生物科技公司上市規則及評估

華坊分享專題講座於2019年6月10日成功舉辦,專業人士齊聚一堂,學習並了解生物技術公司的最新上市規則和估值,帶來新的知識和見解。

最近,香港聯合交易所(「港交所」)公佈了有關擴大上市制度的建議的諮詢報告,以協助及促進新興和創新行業的公司能夠於港交所上市。由於香港沒有本地醫藥監管機構,港交所在生物科技公司上市審批過程採取了更保守的方針。而投資者和估價師可以向美國食品藥品管理局或國家食品藥品監督管理局查詢更可靠和多樣化的數據。

在講座上,我們的執行董事羅玨瑜女士以及董事汪心浩先生分享了第18A章的要求概述,生物技術公司的近期市場趨勢和相關的估值方法。在問答環節,觀眾提出了一些有趣的問題,例如如何證實折扣率以及如何區分好的醫療產品和不良的醫療產品,而兩位董事則用他們的多年經驗去解答觀眾的疑問。

同時專題講座還引起了幾位本地媒體記者的關注,詳情請參閱星島日報東方日報的報導。


“華坊諮詢評估執行董事羅珏瑜表示,這些股份業務風險較大,港交所日後應加強投資者教育,讓散戶了解生科股每個研發階段的潛在價值及風險。”
星島日報 財經版
(2019年6月11日)


华坊技术午餐讲座: 高科技企业价值评估面临的挑战

华坊分享专题讲座于2019年6月10日成功举办,专业人士齐聚一堂,学习幷了解生物技术公司的最新上市规则和估值,带来新的知识和见解。

最近,香港联合交易所(「港交所」)公布了有关扩大上市制度的建议的咨询报告,以协助及促进新兴和创新行业的公司能够于港交所上市。由于香港没有本地医药监管机构,港交所在生物科技公司上市审批过程采取了更保守的方针。而投资者和估价师可以向美国食品药品管理局或国家食品药品监督管理局查询更可靠和多样化的数据。

在讲座上,我们的执行董事罗珏瑜女士以及董事汪心浩先生分享了第18A章的要求概述,生物技术公司的近期市场趋势和相关的估值方法。

在问答环节,观众提出了一些有趣的问题,例如如何证实折扣率以及如何区分好的医疗产品和不良的医疗产品,而两位董事则用他们的多年经验去解答观众的疑问。

同时专题讲座还引起了几位本地媒体记者的关注,详情请参阅星岛日报东方日报的报导。


“华坊咨询评估执行董事罗珏瑜表示,这些股份业务风险较大,港交所日后应加强投资者教育,让散户了解生科股每个研发阶段的潜在价值及风险。”
星岛日报 财经版
(2019年6月11日)
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