Recently, Wuxi AppTec Drug Development Co., Ltd. (stock name: Wuxi AppTec, stock code: 603259), the investment company of Shougang Fund is formally listed on the Shanghai Stock Exchange. This time, Wuxi AppTec’s issue price is RMB 21.60 per share, and its closing price of the day is RMB 31.10 per share, rising by 43.98% within the first day.

Wuxi AppTec’s main business is CRO, which refers to the R&D outsourcing of innovative drugs. Therefore, As the R&D of new drugs is characterized by “high risk, investment and long period”, with the increasing cost of new drug research and development and increase of cycle pressure, large pharmaceutical companies have begun to outsource some non-core R&D processes. Wuxi AppTec is the 11th largest CRO service provider in the world and has become a leading CRO company in China.

In the process of Shougang Group’s creating a comprehensive urban service provider, the medical industry is a key part of its layout. Shougang Group owns six hospitals, including Peking University Shougang Hospital and other well-known hospitals in the regions. Shougang Fund Co., Ltd., together with China Life and other strategic partners, jointly initiate the establishment of Shouyi Medical Health, a medical health holding investment platform, and will form a medical sector business structure “with hospital investment integration as the core and the augmented investment of upstream and downstream medical industry chain as the supplement”. Via Wuxi AppTec, the leading company in the investment medical service industry, Shougang Fund Co., Ltd. hopes to have a higher level of interaction and collaboration with its medical industry companies and hospitals in the group system and thus give full play to Wuxi AppTec’s medical R&D service capabilities and technology platform resources in the hospital field to promote the development of Chinese medical industry and benefit more patients.