JiTai Technology surged over 173% on its first day of trading, with Futu supporting the listing of the 'First AI Drug Delivery Stock'

On May 13, 2026, $METIS TECHBIO-P (07666.HK)$ officially listed on the Main Board of the Hong Kong Exchange, becomingthe first AI drug delivery stock, and another hard-core biotech company to go public under Chapter 18C of the Hong Kong Exchange rules.In this IPO, Futu served as a joint bookrunner and joint lead manager. Leveraging its core advantages of a technology-empowered platform ecosystem, it accurately reached a large number of high-quality investors during the public offering phase, laying a solid foundation for secondary market liquidity and trading activity after the listing of Ji Tai Technology.

The cornerstone investor lineup in this IPO is nothing short of impressive, featuring 18 top-tier global institutions including Blackrock, UBS AM Singapore, China Venture Capital Innovation Fund, Mirae Asset, Hillhouse HHLRA, Deerfield, and RTW Funds, collectively subscribing to $148 million (approximately HK$1.159 billion), accounting for 54.87% of the offered shares. This sets a new record for cornerstone investments in the AI pharmaceuticals sector on the Hong Kong stock market, fully demonstrating the high recognition from international capital markets of Ji Tai Technology's technical capabilities and development prospects.

JiTai Technology is an AI-driven biotech company specializing in material development and technological innovation for drug nanodelivery. The company has independently developed NanoForge, the world's first AI-powered drug nanodelivery platform. NanoForge can reduce the formulation R&D time for small molecule drugs from 1-2 years to 3 months and achieve precise drug delivery targeting eight organs or tissues such as the liver, muscle, tumors, and immune system. Based on this, the company accelerates the development of innovative therapies in critical disease areas through both independent research and collaboration.

From 2023 to 2025, JiTai Technology's revenues were RMB 9.338 million, RMB 1.482 million, and RMB 105 million respectively, with nearly 70 times growth in 2025 primarily driven by the upfront payment of RMB 100 million from the out-licensing of MTS-004. The gross margins for 2023, 2024, and 2025 were 59.8%, 55.5%, and 98.2% respectively. Meanwhile, the adjusted net losses were RMB 350 million, RMB 240 million, and RMB 180 million, showing continuous improvement in operational efficiency.

Regarding the use of proceeds, according to the prospectus, Ji Tai Technology plans to allocate the global offering proceeds for the following purposes:

Approximately 50.0% will be used to support core technology research, development, and advancement in the company’s AI infrastructure and AI-driven nanomaterials platform; approximately 20.0% will be allocated to ongoing and planned clinical trials within the company’s AI-developed product pipeline, advancing candidate drugs across multiple therapeutic areas and modalities; approximately 10.0% will be used to develop the company’s animal health and anti-aging solutions, expanding AI-powered solutions into these high-growth areas; approximately 10.0% will be allocated to support the company's growth strategy in building an AI-driven nanomaterials ecosystem globally; and approximately 10.0% will be used as working capital and for other general corporate purposes.

Looking ahead, we expect Ji Tai Technology to inject new momentum into the development of the biopharmaceutical industry.

—————————————————————————

As a leading digital financial technology company, Futu, supported by an investor ecosystem of over 29.18 million and a comprehensive corporate service system, is able to provide companies with end-to-end services throughout the pre-IPO, IPO, and post-IPO phases. These include a one-stop ESOP option management solution, Hong Kong and US stock IPO distribution, investor relations (IR) and public relations (PR), financial public relations services, international placement, secondary trading services, and other core services.

As of Q4 2025, more than half of the top ten companies by Hong Kong IPO fundraising amounts have partnered with Futu. Nearly half of the Hong Kong IPO projects in Q4 involved cooperation with Futu. The total subscription amount for Hong Kong IPOs on Futu's platform reached HKD 3.5 trillion in Q4, firmly ranking first in the market. Its capabilities in US IPOs have gained attention, with all retail clients successfully allocated shares in popular new stocks such as Bullish, Figure, and Gemini.

As of Q4 2025, Futu's corporate services have reached 1,161 clients, providing IPO distribution and IR services to 600 enterprises. It has assisted 387 companies, including Meituan, Kuaishou, Xiaomi, Baidu, KE Holdings, JD Health, and Bilibili, in successfully listing in Hong Kong and the United States. Futu has cumulatively signed contracts with 830 ESOP clients, and a total of 1,300 listed companies are now hosted on the Futu platform.

In the future, Futu will fully leverage its resources and market influence to provide more professional and efficient services to a larger customer base!

*Securities-related businesses such as IPO distribution are provided by licensed subsidiaries under Futu.

*Data source: Market cap as of the first day of listing

*Data source: Futu's Q4 2025 earnings report

136K Views