Five Biotech Firms Among Eight Chinese Companies Clearing Hong Kong Listing Hearings

Eight mainland China-based companies – five of them biotech firms – passed listing hearings on the Hong Kong stock market in April, clearing the way for them to tap the city's deep liquidity. Founded in 2020 in Hangzhou, in eastern China's Zhejiang province, Metis operates in China and the United States. It uses three proprietary AI platforms to design and optimise drug delivery systems, a term that refers to how medicines are packaged and processed by the body. Its revenue surged to 105 million yuan (US$15.4 million) last year from 1.48 million yuan a year earlier, while its net loss narrowed to 391.8 million yuan from 499.2 million yuan. Its leading drug candidate, MTS-004, an orally dissolving tablet for pseudobulbar affect, has completed phase three clinical trials. The company has three other drug candidates in early-stage trials. Average daily turnover on the Hong Kong stock exchange for the first three months of 2026 was HK$276.7 billion (US$35.3 billion), up 14 per cent from the same period last year, according to data from bourse operator Hong Kong Exchanges and Clearing (HKEX).