Company: Hangzhou Diagens Biotechnology Co., Ltd.

Date of Prospectus: March 20, 2026

Hangzhou Diagens Biotechnology Co., Ltd. Launches Highly-Anticipated Hong Kong IPO: Complete Investor Breakdown

Hangzhou Diagens Biotechnology Co., Ltd. is set to make its debut on the Hong Kong Stock Exchange, offering a comprehensive opportunity for investors seeking exposure to the rapidly evolving biotechnology sector in China. With a robust offering structure, fully digital application process, and a carefully structured timetable, this IPO is positioned to draw significant interest from both retail and institutional participants. Below, we break down all essential details, from offer terms to management, risk factors, and how to participate.

IPO Snapshot

Summary of the Hangzhou Diagens IPO Terms

• IPO Symbol (Stock Code): 2526
• Type of Shares Offered: H Shares
• Offer Price Range: HK\$95.6 to HK\$112.5 per H Share
• Maximum Offer Price: HK\$112.5 per H Share (plus fees and levies)
• Total Shares Offered (Global Offering): 7,999,200 H Shares
• Hong Kong Public Offering: 799,950 H Shares (subject to reallocation)
• International Placing: 7,199,250 H Shares (subject to reallocation)
• Nominal Value per Share: RMB1.00
• Board Lot Size: 50 H Shares

Pricing and Allocation: The final offer price will be determined on or before March 26, 2026, and will not exceed HK\$112.5 per H Share. The minimum subscription is 50 shares (one board lot), with application amounts clearly specified for each lot size [[4]].

Reallocation Mechanism: In case of strong demand, up to 399,900 H Shares may be reallocated to the Hong Kong Public Offering, increasing its size to 1,199,850 H Shares (15% of the total offering) if the offer price is set at the low end (HK\$95.6) [[5]].

Offer Structure and Allocation

Public and Institutional Placement Breakdown

• Hong Kong Public Offering: 10% of the total (799,950 H Shares), subject to reallocation
• International Placing: 90% of the total (7,199,250 H Shares), subject to reallocation

No cornerstone or anchor investor details, employee allocations, or shareholder offers are disclosed in the available information.

Deal Parties & Structure

Underwriters and Key Deal Parties

• Sole Sponsor, Sponsor-overall Coordinator, Overall Coordinator, Joint Global Coordinator, Joint Bookrunner, Joint Lead Manager: (Names not provided in the excerpt)
• Overall Coordinator, Joint Global Coordinator, Joint Bookrunner, Joint Lead Manager: (Names not provided in the excerpt)
• Joint Bookrunners and Joint Lead Managers: (Names not provided in the excerpt)

Stabilization/Greenshoe: Not specified in the available content.

Termination Rights: The Sponsor-overall Coordinator may terminate obligations under the underwriting agreement before 8:00 a.m. on the listing date in case of certain events, as outlined in the offering details [[1]].

Company Overview

Business Model and Operations

Hangzhou Diagens Biotechnology Co., Ltd. is a biotechnology company incorporated in the People’s Republic of China. The company’s principal business, revenue streams, products, services, geographic markets, and customer segments are not detailed in the available document. However, the use of “Biotechnology” in its name and the choice of Hong Kong as a listing venue suggest a focus on innovative biopharmaceutical products and related services.

Management Team:

• Chairman of the Board and Executive Director: Song Ning
• Executive Director: Weng Chih-Hsin (alias Robin Weng)
• Non-executive Directors: Xu Chen, Wu Lingqian, Yang Zehao
• Proposed Independent Non-executive Directors: Cha Yang (alias Stanley Cha), Zhang Jing, Wang Kaifeng

The presence of a diverse board with both executive and non-executive directors highlights a governance structure aligned with public market standards [[9]].

Trends, Timing & Environment

IPO Timetable and Key Dates

• Hong Kong Public Offering Opens: 9:00 a.m., Friday, March 20, 2026
• Application Deadline (White Form eIPO): 11:30 a.m., Wednesday, March 25, 2026
• Application List Closes: 12:00 noon, Wednesday, March 25, 2026
• Price Determination Date: By 12:00 noon, Thursday, March 26, 2026
• Results Announcement: At or before 11:00 p.m., Friday, March 27, 2026
• Listing and Dealings Commence: 9:00 a.m., Monday, March 30, 2026

Settlement: Trades settle in CCASS on T+2 after listing. H Shares are traded in board lots of 50, with the stock code 2526 [[7][9]].

Risk Factors

Key Risks Highlighted

• Regulatory and Legal: Subject to Hong Kong Stock Exchange and PRC regulations, with potential for offering termination before listing [[1]].
• Market Risk: No public offering in the United States; shares not registered under the U.S. Securities Act, restricting cross-border trading [[1]].
• Application Risk: Applications not in accordance with stipulated lot sizes or procedures may be rejected [[4]].
• Lapse of Offering: If conditions are not met, the offering will lapse and application monies will be refunded without interest [[9]].
• Trading Risk: H share certificates only become valid at 8:00 a.m. on March 30, 2026; trading before this is at investor’s risk [[9]].

Growth Strategy

Specific growth strategies such as R&D, capex, new markets, or acquisitions are not detailed in the available content. However, the scale of the offering and the focus on biotechnology suggest a capital-raising effort for expansion, innovation, or market penetration.

Ownership & Lock-ups

Pre- and post-IPO shareholding structure, major shareholder holdings, and lock-up arrangements are not disclosed in the available content.

Financial Health

Multi-period financials (revenue, profit, margin, cash flow, debt, capex, working capital) are not provided in the available information. Investors are advised to review the full company financials available on the company’s website or the Hong Kong Stock Exchange news portal.

Valuation and Peer Comparison

No peer company symbols, valuation multiples, or comparable sector performance metrics are disclosed in the available information. Therefore, no comparison table is provided.

IPO Allotment Result

Subscription results by tranche and institutional participation levels are not disclosed in the available content. The company will announce the final Offer Price, allocation basis, and subscription levels by 11:00 p.m. on March 27, 2026, on their website and the HKEX news portal [[8]].

Listing Outlook

Prospectus-Based Assessment: The offering is structured to maximize accessibility and transparency, with a fully electronic application process and a clear timetable. The presence of experienced directors and a reputable listing venue suggests confidence in the company’s governance and market prospects. The offer allows for flexible reallocation to meet retail demand, indicating preparedness for oversubscription. Risks include potential offering lapse and regulatory constraints. Based strictly on the disclosed facts, the IPO appears well-structured and may see robust first-day interest, especially if market demand is strong and the offer price is set closer to the lower end of the range. Investors should stay tuned for the final subscription outcome and allocation details to gauge likely listing-day performance.

Prospectus Access

For the full prospectus and additional details, visit: www.diagens.com or www.hkexnews.hk

How to Apply

Application Channels & Process

• White Form eIPO: Apply online at www.eipo.com.hk. Suitable for investors wishing to receive physical H Share certificates. Application window: 9:00 a.m., March 20, 2026, to 11:30 a.m., March 25, 2026. Payment deadline: 12:00 noon, March 25, 2026 [[3][8]].
• HKSCC EIPO Channel: Apply through your broker or custodian (HKSCC Participant), who will submit instructions via HKSCC’s FINI system. Shares allotted will be deposited directly into CCASS under HKSCC Nominees. Contact your broker/custodian for cut-off times as these may vary [[8]].
• No physical application channels are provided. All applications and prospectus access are strictly electronic.

Application results and allocations will be published on www.diagens.com, www.hkexnews.hk, and www.iporesults.com.hk (with “search by ID” functionality) by 11:00 p.m. on March 27, 2026. Refunds and share certificates will be dispatched or credited to CCASS on or before March 30, 2026 [[7][8][9]].