hk-ipo/data/extracted_text/02105/allotment_results_summary_2023-06-28_2023062800054.txt

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ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
SUMMARY
OFFER PRICE
• The Offer Price is HK$12.41 per Offer Share (exclusive of brokerage of 1.0%, SFC
transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
trading fee of 0.00565%).
NET PROCEEDS FROM THE GLOBAL OFFERING
• At the Offer Price of HK$12.41 per Offer Share, the net proceeds from the Global Offering
to be received by the Company, after deduction of the underwriting fees and commissions
and other estimated expenses payable by the Company in connection with the Global
Offering, are estimated to be approximately HK$708.2 million. The Company intends
to apply such net proceeds from the Global Offering in the manner set out in the section
headed “Net Proceeds from the Global Offering ” in this announcement.
APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
PUBLIC OFFERING
• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
been slightly over-subscribed. A total of 2,570 valid applications have been received
pursuant to the Hong Kong Public Offering through the White Form eIPO service and
through the CCASS EIPO service for a total of 37,009,000 Hong Kong Offer Shares,
representing approximately 5.81 times of the total number of 6,373,000 Hong Kong Offer
Shares initially available for subscription under the Hong Kong Public Offering.
• As the over-subscription in the Hong Kong Public Offering is less than 15 times, the reallocation
procedures as described in the section headed “Structure of the Global Offering – The Hong
Kong Public Offering – Reallocation and Clawback ” in the Prospectus have not been
applied and no International Offer Shares have been reallocated from the International
Offering to the Hong Kong Public Offering. The final number of Hong Kong Offer
Shares under the Hong Kong Public Offering is 6,373,000 Offer Shares, representing
approximately 10% of the total number of Offer Shares initially available under the Global
Offering. There are a total number of 1,150 Shareholders who were allocated Offer Shares
under the Hong Kong Public Offering, among which, 724 Shareholders, representing
approximately 62.96% of the Shareholders who were allocated Offer Shares under the
Hong Kong Public Offering, were allocated with one board lot of the Offer Shares, totaling
362,000 Offer Shares, representing approximately 5.68% of the total Offer Shares under
the Hong Kong Public Offering.


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INTERNATIONAL OFFERING
• The International Offer Shares initially offered under the International Offering have
been slightly over-subscribed, representing approximately 1.09 times of the total number
of Offer Shares initially available under the International Offering. The final number of
International Offer Shares under the International Offering is 57,355,000 Offer Shares,
representing approximately 90% of the total number of Offer Shares initially available
under the Global Offering.
• There are a total of 117 placees under the International Offering, among which 104 placees,
representing approximately 88.89% of the total number of placees under the International
Offering, have been allotted one board lot of Offer Shares, totaling 52,000 Offer Shares,
representing approximately 0.09% of the total number of Offer Shares available under the
International Offering.
Cornerstone Investors
• At the Offer Price of HK$12.41 per Offer Share (exclusive of brokerage of 1.0%, SFC
transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
trading fee of 0.00565%) and pursuant to the Cornerstone Investment Agreements entered
into with the Cornerstone Investors as disclosed in the section headed “Cornerstone
Investors ” in the Prospectus, the Cornerstone Investors have subscribed for a total of
54,806,500 Offer Shares, representing approximately 14.05% of the total issued share
capital of the Company immediately upon the completion of the Global Offering and
approximately 86.00% of the number of Offer Shares under the Global Offering.
• The Company has applied to the Stock Exchange for a waiver from strict compliance with
the requirements under Rule 10.04 of, and a consent under paragraph 5(2) of Appendix
6 (the “Placing Guidelines ”) to, the Listing Rules to allow Future Industry Investment
Fund II (an existing Shareholder) ( “FIIF”), OrbiMed Asia Partners III, L.P. (an existing
Shareholder) ( “OrbiMed ”) and Ningbo Yaoshang Yanchuang Chenkai Venture Capital
Partnership (Limited Partnership) (a close associate of Jiangsu Yanyuan Oriental Venture
Capital Investment Partnership (LP), Ningbo Yanyuan Innovation Venture Capital
Investment Partnership (LP), Ningbo Yanchuang Yaoshang Yangming Venture Capital
Investment Partnership (LP), Ningbo Rongshun Yanyuan Venture Capital Investment
Partnership (LP), Ningbo Yanchuang Xiangshang Venture Capital Partnership (Limited
Partnership), Ningbo Yanchuang Borong Venture Capital Partnership (Limited Partnership)
and Yanchuang Biotech Investment L.P., all are existing Shareholders) ( “Yanchuang
Chenkai ”) to participate as cornerstone investors in the Global Offering. In the case
of subscription by OrbiMed, the Company has also applied for a waiver from strict
compliance with the requirement under Rule 9.09(b) of the Listing Rules. The Stock
Exchange has granted the Company the requested waiver and consent. Please refer to the
section headed “Waivers and Exemptions ” in the Prospectus.
• Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further
details of the Cornerstone Investors.


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Placing of Offer Shares to an existing Shareholder
• In addition to the placing of Offer Shares in the International Offering to existing
Shareholders and their close associate under the Cornerstone Investment Agreements as
disclosed above, a total of 2,298,500 Offer Shares, representing approximately 3.61% of
the total number of Offer Shares initially available under the Global Offering, were placed
to Mr. Lin Dianhai ( “Mr. Lin ”), an existing Shareholder of the Company. The Company
has applied to the Stock Exchange for a waiver from strict compliance with Rule 10.04 of
the Listing Rules and a consent under paragraph 5(2) of the Placing Guidelines to permit
the Company to allocate Offer Shares in the International Offering to Mr. Lin. The Stock
Exchange has granted the Company the requested waiver and consent.
CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
• To the best knowledge, information and belief of the Directors, save as otherwise disclosed
in this announcement, no Offer Shares placed by or through the Overall Coordinator,
the Sole Global Coordinator, the Joint Bookrunners, the Joint Lead Managers or the
Underwriters under the Global Offering have been placed to applicants who are core
connected persons of the Company, or connected clients (as set out in paragraph 5(1) of the
Placing Guidelines), or persons set out in paragraph 5(2) of the Placing Guidelines, whether
in their own names or through nominees. The International Offering is in compliance with
the Placing Guidelines.
• The Directors confirm that, to the best of their knowledge, information and belief, save
as otherwise disclosed in this announcement, (i) none of the Offer Shares subscribed by
public Shareholders in the Hong Kong Public Offering and placees in the International
Offering has been financed directly or indirectly by the Company, its Directors, chief
executive, substantial Shareholders, existing Shareholders or any of their subsidiaries or
their respective close associates; (ii) no rebate has been, directly or indirectly, provided by
the Company, its Directors, chief executive, substantial Shareholders, existing Shareholders
or any of their subsidiaries or their respective close associates or syndicate members
or any other brokers to any public Shareholders in the Hong Kong Public Offering or
placees in the International Offering; (iii) none of the public Shareholders in the Hong
Kong Public Offering and placees in the International Offering who has subscribed for the
Offer Shares is accustomed to taking instructions from the Company, its Directors, chief
executive, substantial Shareholders, existing Shareholders or any of their subsidiaries or
their respective close associates in relation to the acquisition, disposal, voting or other
disposition of the Shares registered in his/her/its name or otherwise held by him/her/it; (iv)
the consideration payable by the public Shareholders in the Hong Kong Public Offering
and placees in the International Offering for each Offer Share subscribed for or purchased
by them is the same as the Offer Price, in addition to brokerage of 1.0%, SFC transaction
levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
0.00565%; and (v) there is no side agreement or arrangement between the Company, its
Directors, chief executive, substantial Shareholders, existing Shareholders or any of their
subsidiaries or their respective close associates or syndicate members or any other brokers,
on one hand, and the public Shareholders or the placees who have subscribed for the Offer
Shares, on the other hand.
• The Directors confirm that, to the best of their knowledge, information and belief, none
of the placees under the International Offering will be placed more than 10% of the
enlarged issued share capital of the Company immediately following the completion of
the Global Offering. Accordingly, the Directors confirm that none of the placees will
become a substantial Shareholder of the Company immediately following the completion
of the International Offering, and there will not be any new substantial Shareholder of the
Company immediately following the completion of the Global Offering.


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LOCK-UP UNDERTAKINGS
• Each of the Company, the Cornerstone Investors and all existing Shareholders is subject to
certain lock-up undertakings set out in the section headed “Lock-up Undertakings ” in this
announcement.
RESULTS OF ALLOCATIONS
• Results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
Offering, including the Offer Price, the level of indications of interest in the International
Offering, the level of applications in the Hong Kong Public Offering and the basis of
allocation of the Hong Kong Offer Shares will be published on Wednesday, June 28,
2023 on the websites of the Stock Exchange at www.hkexnews.hk  and the Company at
www.laekna.com .
• The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
Offering successfully applied for through the White Form eIPO service or through the
CCASS EIPO service, including the Hong Kong identity card numbers, passport numbers,
Hong Kong business registration numbers or certificate of incorporation numbers of
successful applicants (where applicable) and the number of Hong Kong Offer Shares
successfully applied for, will be made available at the times and dates and in the manner
specified below:
• in the announcement to be posted on the Company ’s website at www.laekna.com
and the Stock Exchange ’s website at www.hkexnews.hk  by no later than 8:00 a.m.
on Wednesday, June 28, 2023. Please note that the list of identification document
numbers set out in this announcement may not be a complete list of successful
applicants since only successful applicants whose identification document numbers
are provided to HKSCC by CCASS Participants or via the White Form eIPO
service are disclosed. Applicants with beneficial names only but not identification
document numbers are not disclosed due to personal privacy issue as elaborated
below. Applicants who applied for the Hong Kong Offer Shares through their brokers
or nominees can consult their brokers or nominees to enquire about their application
results;
• from the designated results of allocations website at www.iporesults.com.hk  (alternatively:
English https://www.eipo.com.hk/en/Allotment; Chinese https://www.eipo.com.hk/zh-hk/Allotment)
with a “search by ID” function on a 24-hour basis from 8:00 a.m. on Wednesday, June 28,
2023 to 12:00 midnight on Tuesday, July 4, 2023; and
• from the allocation results telephone enquiry by calling +852 2862 8555 between
9:00 a.m. and 6:00 p.m. from Wednesday, June 28, 2023 to Monday, July 3, 2023
(excluding Saturday, Sunday and public holiday in Hong Kong).


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• This announcement contains a list of identification document numbers. Identification
document numbers shown in the section headed “Results of Applications Made by White
Form eIPO ” in this announcement refer to Hong Kong identity card numbers/passport
numbers/Hong Kong business registration numbers/certificate of incorporation numbers/
beneficial owner identification codes (if such applications are made by nominees as agent
for the benefit of another person), whereas those displayed in the section headed “Results
of Applications Made by Giving Electronic Application Instructions  to HKSCC via
CCASS” in this announcement are provided by CCASS Participants via CCASS. Therefore,
the identification document numbers shown in the two sections are different in nature.
• Since applications are subject to personal information collection statements, beneficial
owner identification codes displayed in the sections headed “Results of Applications
Made by White Form eIPO ” and “Results of Applications Made by Giving Electronic
Application Instructions  to HKSCC via CCASS ” are redacted and not all details of
applications are disclosed in this announcement.
DESPATCH/COLLECTION OF SHARE CERTIFICATES AND REFUND MONIES
• Applicants who applied for 1,000,000 Hong Kong Offer Shares or more through the White
Form eIPO service and who have been wholly or partially successfully allocated Hong
Kong Offer Shares may collect Share certificates and/or refund cheques (where applicable)
in person from the Hong Kong Share Registrar, Computershare Hong Kong Investor
Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen ’s Road
East, Wan Chai, Hong Kong from 9:00 a.m. to 1:00 p.m. on Wednesday, June 28, 2023 or
any other place or date as notified by the Company.
• Applicants being individuals who are eligible for personal collection must not authorize
any other person to make collection on their behalf. Corporate applicants which are
eligible for personal collection must attend by their authorized representatives bearing
letters of authorization from their corporations stamped with the corporations ’ chops. Both
individuals and authorized representatives (if applicable) must produce, at the time of
collection, evidence of identity acceptable to Computershare Hong Kong Investor Services
Limited.
• Share certificates for Hong Kong Offer Shares allotted to applicants who applied through
the White Form eIPO  service which are either not available for personal collection
(including applicants who applied for less than 1,000,000 Hong Kong Offer Shares through
the White Form eIPO service) or which are available but are not collected in person
by 1:00 p.m. on Wednesday, June 28, 2023 are expected to be despatched by ordinary
post to the addresses specified in the relevant applications at their own risk on or before
Wednesday, June 28, 2023.
• Wholly or partially successful applicants who applied by giving electronic application
instructions to HKSCC via CCASS will have their Share certificates issued in the name of
HKSCC Nominees Limited and deposited directly into CCASS for credit to their CCASS
Investor Participant stock accounts or the stock accounts of their designated CCASS
Participant who gave electronic application instructions on their behalf on Wednesday,
June 28, 2023.


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• Applicants who applied through a designated CCASS Participant (other than a CCASS
Investor Participant) should check the number of Hong Kong Offer Shares allocated to
them and the amount of refund monies payable to them with that CCASS Participant.
• Applicants who applied as a CCASS Investor Participant by giving electronic application
instructions to HKSCC via CCASS should check and report any discrepancies to HKSCC
before 5:00 p.m. on Wednesday, June 28, 2023 or such other date as shall be determined
by HKSCC or HKSCC Nominees. Applicants who applied as a CCASS Investor Participant
by giving electronic application instructions  to HKSCC via CCASS may also check
the results of their applications and the amount of refund monies payable to them via the
CCASS Phone System and the CCASS Internet System (under the procedures contained
in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time to time).
Immediately after the crediting of the Hong Kong Offer Shares to the CCASS Investor
Participants stock accounts and the crediting of the refund monies to their respective
designated bank account, HKSCC will also make available to the CCASS Investor
Participants an activity statement showing the number of Hong Kong Offer Shares credited
to their stock accounts and the amount of refund monies (if any) credited to their respective
designated bank accounts.
• Applicants who applied through the White Form eIPO service and paid the application
monies through a single bank account will have refund monies (if any) despatched to
their application payment bank account in the form of e-Refund payment instructions on
or before Wednesday, June 28, 2023. Applicants who applied through the White Form
eIPO service and paid the application monies through multiple bank accounts will have
refund monies (if any) despatched to the addresses specified on their White Form eIPO
applications in the form of refund cheque(s) by ordinary post at their own risk on or before
Wednesday, June 28, 2023.
• Refund monies (if any) for applicants who applied by giving electronic application
instructions to HKSCC via CCASS are expected to be credited to their designated bank
accounts or the designated bank accounts of their brokers or custodians on Wednesday,
June 28, 2023.
• Share certificates will only become valid evidence of title at 8:00 a.m. (Hong Kong time)
on Thursday, June 29, 2023 provided that the Global Offering has become unconditional
in all respects at or before that time and the right of termination described in the section
headed “Underwriting – Underwriting Arrangements – Hong Kong Public Offering – Hong
Kong Underwriting Agreement – Grounds for Termination ” in the Prospectus has not been
exercised.
• The Company will not issue any temporary documents of title in respect of the Offer
Shares and will not issue any receipt for application monies received.


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PUBLIC FLOAT
• Immediately following the completion of the Global Offering, 198,193,680 Shares,
representing approximately 50.81% of the total issued share capital of the Company will be
held by the public. Accordingly, the number of Shares in public hands represents no less
than 25% of the total issued share capital of the Company as required under Rule 8.08(1)
(a) of the Listing Rules. The Directors confirm that (i) the three largest public Shareholders
do not hold more than 50% of the Shares held in public hands at the time of the Listing
in compliance with Rule 8.08(3) of the Listing Rules and (ii) there will be at least 300
Shareholders at the time of the Listing in compliance with Rule 8.08(2) of the Listing
Rules. In addition, the portion of Shares in public hands (excluding the Offer Shares to
be allocated to the Cornerstone Investors and the Offer Shares to be subscribed by Mr.
Lin) will have a market capitalization of at least HK$375 million at the time of Listing as
required under Rule 18A.07 of the Listing Rules.
COMMENCEMENT OF DEALINGS
• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
a.m. on Thursday, June 29, 2023 (Hong Kong time), dealings in the Shares on the Main
Board of the Stock Exchange are expected to commence at 9:00 a.m. on Thursday, June 29,
2023 (Hong Kong time). The Shares will be traded in board lots of 500 Shares each. The
stock code of the Shares is 2105.
• In view of the high concentration of shareholding in a small number of Shareholders,
Shareholders and prospective investors should be aware that the price of the Shares
could move substantially even with a small number of Shares traded, and should
exercise extreme caution when dealing in the Shares.
OFFER PRICE
The Offer Price is HK$12.41 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction
levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
0.00565%).
NET PROCEEDS FROM THE GLOBAL OFFERING
At the Offer Price of HK$12.41 per Offer Share, the net proceeds from the Global Offering to be
received by the Company, after deduction of the underwriting fees and commissions and other
estimated expenses payable by the Company in connection with the Global Offering, are estimated
to be approximately HK$708.2 million.


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The Company intends to apply such net proceeds as follows:
(i) approximately 33.0% of the net proceeds, or approximately HK$233.7 million, is expected to
be used for rapidly advancing the clinical development and approval of one of the Company ’s
Core Products, LAE001;
(ii) approximately 23.3% of the net proceeds, or approximately HK$165.0 million, is expected to
be used for advancing the clinical development and approval of the other Core Product of the
Company, LAE002;
(iii) approximately 20.8%, or HK$147.4 million, is expected to be used for accelerating the
research and development of other existing pipeline products and continuously advancing and
improving the Company ’s pipeline products;
(iv) approximately 9.9%, or HK$70.1 million, is expected to be used for improving the
Company ’s production capabilities and developing the Company ’s manufacturing capacities;
(v) approximately 7.6%, or HK$53.8 million, is expected to be used for business development
activities and enhancing the Company ’s global reach; and
(vi) approximately 5.4%, or HK$38.2 million, is expected to be used for the Company ’s working
capital and other general corporate purposes.
To the extent that the net proceeds from the Global Offering are not immediately used for the
purposes described above and to the extent permitted by the relevant laws and regulations,
they will be placed in short-term demand deposits with licensed banks or authorized financial
institutions (as defined under the SFO for Hong Kong based deposits or the applicable laws in the
relevant jurisdiction for non-Hong Kong based deposits) so long as it is deemed to be in the best
interests of the Company. The Company will issue an appropriate announcement if there is any
material change to the above proposed use of proceeds.
For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
the Prospectus.


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APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
PUBLIC OFFERING
The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been
slightly over-subscribed. A total of 2,570 valid applications have been received pursuant to the
Hong Kong Public Offering through the White Form eIPO service and through the CCASS EIPO
service for a total of 37,009,000 Hong Kong Offer Shares, representing approximately 5.81 times
of the total number of 6,373,000 Hong Kong Offer Shares initially available for subscription under
the Hong Kong Public Offering, among which:
• 2,556 valid applications in respect of a total of 18,449,500 Hong Kong Offer Shares were for
the Hong Kong Public Offering with a total subscription price of HK$5 million or less at the
Offer Price of HK$12.41 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction
levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
0.00565%), representing approximately 5.79 times of the 3,186,500 Hong Kong Offer Shares
initially comprised in Pool A of the Hong Kong Public Offering; and
• 14 valid applications in respect of a total of 18,559,500 Hong Kong Offer Shares were for the
Hong Kong Public Offering with a total subscription price of more than HK$5 million at the
Offer Price of HK$12.41 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction
levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
0.00565%), representing 5.82 times of the 3,186,500 Hong Kong Offer Shares initially
comprised in Pool B of the Hong Kong Public Offering.
No application has been rejected due to invalid application. Two multiple or suspected multiple
applications have been identified and rejected. One application has been rejected due to dishonored
payment. No application for more than 3,186,500 Hong Kong Offer Shares (being 50% of the Hong
Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
As the over-subscription in the Hong Kong Public Offering is less than 15 times, the reallocation
procedures as described in the section headed “Structure of the Global Offering – The Hong
Kong Public Offering – Reallocation and Clawback ” in the Prospectus have not been applied
and no International Offer Shares have been reallocated from the International Offering to the
Hong Kong Public Offering. The final number of Hong Kong Offer Shares under the Hong Kong
Public Offering is 6,373,000 Offer Shares, representing approximately 10% of the total number
of Offer Shares initially available under the Global Offering. There are a total number of 1,150
Shareholders who were allocated Offer Shares under the Hong Kong Public Offering, among
which, 724 Shareholders, representing approximately 62.96% of the Shareholders who were
allocated Offer Shares under the Hong Kong Public Offering, were allocated with one board lot
of the Offer Shares, totaling 362,000 Offer Shares, representing approximately 5.68% of the total
Offer Shares under the Hong Kong Public Offering.
The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
basis set out in the section headed “Basis of Allocation under the Hong Kong Public Offering ”
below.


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INTERNATIONAL OFFERING
The International Offer Shares initially offered under the International Offering have been slightly
over-subscribed, representing approximately 1.09 times of the total number of Offer Shares
initially available under the International Offering. The final number of International Offer Shares
under the International Offering is 57,355,000 Offer Shares, representing approximately 90% of
the total number of Offer Shares initially available under the Global Offering.
There are a total of 117 placees under the International Offering, among which 104 placees,
representing approximately 88.89% of the total number of placees under the International Offering,
have been allotted one board lot of Offer Shares, totaling 52,000 Offer Shares, representing
approximately 0.09% of the total number of Offer Shares available under the International
Offering.
Cornerstone Investors
At the Offer Price of HK$12.41 per Offer Share (exclusive of brokerage of 1.0%, SFC
transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
fee of 0.00565%) and pursuant to the Cornerstone Investment Agreements entered into with the
Cornerstone Investors as disclosed in the section headed “Cornerstone Investors ” in the Prospectus,
the number of Offer Shares subscribed for by the Cornerstone Investors is set out below:
Cornerstone Investor
Investment
amount
Number
of Offer
Shares
Subscribed
(rounded
down to the
nearest whole
board lot of
500 Offer
Shares)
Approximate
percentage of
total number
of Offer
Shares
Approximate
percentage of
total Shares
in issue
immediately
following the
completion
of the Global
Offering (3)
Yuyao Yangming Equity Investment
 Fund Co., Ltd. ( “Yuyao ”) HK$471,840,610 38,021,000 59.66% 9.75%
FIIF HK$117,957,050 9,505,000 14.91% 2.44%
Yanchuang Chenkai HK$66,840,260 5,386,000 8.45% 1.38%
OrbiMed US$3,000,000 (1) 1,894,500 2.98% 0.48%
Total HK$680,121,620 (2) 54,806,500 86.00% 14.05%
Notes:
(1) To be converted to Hong Kong dollars based on the exchange rate under the Cornerstone Investment Agreement.
(2) Calculated assuming the investment amount made by OrbiMed has been converted to Hong Kong dollars based
on the exchange rate under the Cornerstone Investment Agreement.
(3) Calculated based on the number of Shares under the Cornerstone Placing only and without taking into account
the existing Shares held by the Cornerstone Investors (if applicable).


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The Company has applied to the Stock Exchange for a waiver from strict compliance with the
requirements under Rule 10.04 of the Listing Rules, and a consent under paragraph 5(2) of the
Placing Guidelines, to allow FIIF, OrbiMed and Yanchuang Chenkai to participate as cornerstone
investors in the Global Offering. In the case of subscription by OrbiMed, the Company has also
applied for a waiver from strict compliance with the requirement under Rule 9.09(b) of the Listing
Rules. The Stock Exchange has granted the Company the requested waiver and consent. Please
refer to the section headed “Waivers and Exemptions ” in the Prospectus.
To the best knowledge of the Company, none of the Cornerstone Investors or their respective
controlling entity is listed on any stock exchange. Each of the Cornerstone Investors has confirmed
that all necessary approvals have been obtained with respect to the Cornerstone Placing and that
no specific approval from any stock exchange (if relevant) or its shareholders is required for the
relevant cornerstone investment as each of them has general authority to invest.
To the best knowledge of the Company, each of the Cornerstone Investors (i) (except for OrbiMed
(an existing substantial Shareholder)) is an Independent Third Party and is not a connected
person of the Company; (ii) (except for OrbiMed, FIIF and Yanchuang Chenkai (each an existing
Shareholder or their close associate)) is not accustomed to taking instructions from the Company,
its subsidiaries, the Directors, chief executive, substantial Shareholders, existing Shareholders
or any of their respective close associates in relation to the acquisition, disposal, voting or other
disposition of the Offer Shares; and (iii) (except for OrbiMed, FIIF and Yanchuang Chenkai
(each an existing Shareholder or their close associate)) is not directly or indirectly financed by
the Company, its subsidiaries, the Directors, chief executive, substantial Shareholders, existing
Shareholders or any of their respective subsidiaries or close associates. To the best knowledge of
the Company, each of the Cornerstone Investors is independent of the other Cornerstone Investors.
The Cornerstone Placing will form part of the International Offering and the Cornerstone Investors
will not subscribe for any Offer Shares under the Global Offering (other than pursuant to the
Cornerstone Investment Agreements). The Offer Shares to be subscribed by the Cornerstone
Investors will rank pari passu  in all respect with the fully paid Shares in issue. Other than the Offer
Shares to be subscribed by OrbiMed, the Offer Shares to be subscribed by the other Cornerstone
Investors will be counted towards the public float of the Company under Rule 8.08 of the Listing
Rules. The Offer Shares to be subscribed by the Cornerstone Investors will not be counted towards
the public float of the Company for the purpose of Rule 18A.07 of the Listing Rules. Immediately
following the completion of the Global Offering, except OrbiMed, none of the Cornerstone
Investors will become a substantial Shareholder, and except OrbiMed and FIIF, none of the
Cornerstone Investors will have any Board representation in the Company. Other than a guaranteed
allocation of the relevant Offer Shares at the Offer Price, the Cornerstone Investors do not have
any preferential rights in the Cornerstone Investment Agreements compared with other public
Shareholders.
As confirmed by each of the Cornerstone Investors, their subscription under the Cornerstone
Placing would be financed by their own internal resources. There are no side agreements or
arrangements between the Company and the Cornerstone Investors or any benefit, direct or
indirect, conferred on the Cornerstone Investors by virtue of or in relation to the Cornerstone
Placing, other than a guaranteed allocation of the relevant Offer Shares at the Offer Price.


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All of the Cornerstone Investors will pay and settle in full for the relevant Offer Shares that they
have subscribed before dealings in the Offer Shares commence on the Stock Exchange. As such,
there will be no deferred settlement of payment of the investment amounts. Since there is no
over-allotment option in the International Offering, there will be no delayed delivery or deferred
settlement of Offer Shares to be subscribed by the Cornerstone Investors.
Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at any
time during the period of six months from and including the Listing Date (the “Lock-up Period ”),
dispose of any of the Offer Shares they have purchased pursuant to the relevant Cornerstone
Investment Agreements, save for certain limited circumstances, such as transfers to any of its
wholly-owned subsidiaries, or any affiliated fund under common management or control with the
relevant Cornerstone Investor, who will be bound by the same obligations of such Cornerstone
Investor, including the Lock-up Period restriction.
Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further details of
the Cornerstone Investor.
Placing of Offer Shares to an existing Shareholder
In addition to the placing of Offer Shares in the International Offering to existing Shareholders
and their close associate under the Cornerstone Investment Agreements as disclosed above, a total
of 2,298,500 Offer Shares, representing approximately 3.61% of the total number of Offer Shares
initially available under the Global Offering, were placed to an existing Shareholder, details of
which are set out below:
Placee
Relationship
with the Company
Number of
Offer Shares
placed
Approximate
percentage of
total number of
Offer Shares
Approximate
percentage of
total Shares
in issue
immediately
following the
completion
of the Global
Offering
Mr. Lin Existing Shareholder 2,298,500 3.61% 0.59%
The Company has applied to the Stock Exchange for a waiver from strict compliance with Rule
10.04 of the Listing Rules and a consent under paragraph 5(2) of the Placing Guidelines to permit
the Company to allocate Offer Shares in the International Offering to the existing Shareholder as
set out above. The Stock Exchange has granted the Company the requested waiver and consent.


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15
CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
To the best knowledge, information and belief of the Directors, save as otherwise disclosed in this
announcement, no Offer Shares placed by or through the Overall Coordinator, the Sole Global
Coordinator, the Joint Bookrunners, the Joint Lead Managers or the Underwriters under the Global
Offering have been placed to applicants who are core connected persons of the Company, or
connected clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons set out in
paragraph 5(2) of the Placing Guidelines, whether in their own names or through nominees. The
International Offering is in compliance with the Placing Guidelines.
The Directors confirm that, to the best of their knowledge, information and belief, save as
otherwise disclosed in this announcement, (i) none of the Offer Shares subscribed by public
Shareholders in the Hong Kong Public Offering and placees in the International Offering has
been financed directly or indirectly by the Company, its Directors, chief executive, substantial
Shareholders, existing Shareholders or any of their subsidiaries or their respective close associates;
(ii) no rebate has been, directly or indirectly, provided by the Company, its Directors, chief
executive, substantial Shareholders, existing Shareholders or any of their subsidiaries or their
respective close associates or syndicate members or any other brokers to any public Shareholders
in the Hong Kong Public Offering or placees in the International Offering; (iii) none of the
public Shareholders in the Hong Kong Public Offering and placees in the International Offering
who has subscribed for the Offer Shares is accustomed to taking instructions from the Company,
its Directors, chief executive, substantial Shareholders, existing Shareholders or any of their
subsidiaries or their respective close associates in relation to the acquisition, disposal, voting
or other disposition of the Shares registered in his/her/its name or otherwise held by him/her/it;
(iv) the consideration payable by the public Shareholders in the Hong Kong Public Offering and
placees in the International Offering for each Offer Share subscribed for or purchased by them is
the same as the Offer Price, in addition to brokerage of 1.0%, SFC transaction levy of 0.0027%,
AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%; and (v) there is
no side agreement or arrangement between the Company, its Directors, chief executive, substantial
Shareholders, existing Shareholders or any of their subsidiaries or their respective close associates
or syndicate members or any other brokers, on one hand, and the public Shareholders or the
placees who have subscribed for the Offer Shares, on the other hand.


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16
The Directors confirm that, to the best of their knowledge, information and belief, none of the
placees under the International Offering will be placed more than 10% of the enlarged issued
share capital of the Company immediately following the completion of the Global Offering.
Accordingly, the Directors confirm that none of the placees will become a substantial Shareholder
of the Company immediately following the completion of the International Offering, and there will
not be any new substantial Shareholder of the Company immediately following the completion of
the Global Offering.
LOCK-UP UNDERTAKINGS
Each of the Company, the Cornerstone Investors and all existing Shareholders has given certain
lock-up undertakings in relation to the issue and disposal of Shares (the “Lock-up Undertakings ”).
The major terms of the Lock-up Undertakings are set out as follows:
Name
Number
of Shares
subject to
the Lock-up
Undertakings
upon Listing
Approximate
percentage of
shareholding in
the Company
subject to the
Lock-up
Undertakings
upon Listing
Last day
subject to
the Lock-up
Undertakings
The Company
(subject to lock-up obligations pursuant to the Listing Rules and the Hong Kong Underwriting Agreement)
N/A N/A December 29, 2023 (1)
Cornerstone Investors
(subject to lock-up obligations pursuant to the Cornerstone Investment Agreements)
Yuyao 38,021,000 9.75% December 29, 2023 (3)
FIIF 9,505,000 (2) 2.44%(2) December 29, 2023 (3)
Yanchuang Chenkai 5,386,000 (2) 1.38%(2) December 29, 2023 (3)
OrbiMed 1,894,500 (2) 0.48%(2) December 29, 2023 (3)
All existing Shareholders (4)
(subject to lock-up obligations pursuant to separate lock-up undertakings)
326,372,350 83.66% December 29, 2023 (5)
Notes:
(1) The Company may not allot or issue Shares prior to the indicated date except otherwise permitted by the Listing
Rules and the Stock Exchange.


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17
(2) Calculated based on the number of Offer Shares subscribed under the Cornerstone Placing only and without
taking into account the existing Shares held by the Cornerstone Investors.
(3) The Cornerstone Investors may dispose of any of the Offer Shares subscribed pursuant to the Cornerstone
Investment Agreements after the indicated date.
(4) For identities and details of the existing Shareholders, see the section headed “History, Development and
Corporate Structure ” in the Prospectus.
(5) Pursuant to separate lock-up undertakings, all existing Shareholders may dispose of Shares without any lock-up
obligation after the indicated date.
(6) Percentage figures in the table above are subject to rounding adjustments.
BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the section headed “Structure of the Global
Offering – Conditions of the Global Offering ” in the Prospectus, 2,570 valid applications made
by the public through the White Form eIPO  service and the CCASS EIPO  service will be
conditionally allocated on the basis set out below:
Pool A
Number of
Offer Shares
applied for
Number
of valid
applications Basis of allocation/ballot
Approximate
percentage
allotted of
the total
number of
Offer Shares
applied for
500 1,636 365 out of 1,636 to receive 500 Shares 22.31%
1,000 199 88 out of 199 to receive 500 Shares 22.11%
1,500 84 55 out of 84 to receive 500 Shares 21.83%
2,000 67 58 out of 67 to receive 500 Shares 21.64%
2,500 48 500 Shares plus 3 out of 48 to receive additional 500 Shares 21.25%
3,000 32 500 Shares plus 8 out of 32 to receive additional 500 Shares 20.83%
3,500 149 500 Shares plus 68 out of 149 to receive additional 500 Shares 20.81%
4,000 20 500 Shares plus 13 out of 20 to receive additional 500 Shares 20.63%
4,500 6 500 Shares plus 5 out of 6 to receive additional 500 Shares 20.37%
5,000 47 1,000 Shares plus 1 out of 47 to receive additional 500 Shares 20.21%
6,000 8 1,000 Shares plus 3 out of 8 to receive additional 500 Shares 19.79%
7,000 43 1,000 Shares plus 33 out of 43 to receive additional 500 Shares 19.77%
8,000 18 1,500 Shares plus 2 out of 18 to receive additional 500 Shares 19.44%
9,000 5 1,500 Shares plus 2 out of 5 to receive additional 500 Shares 18.89%
10,000 35 1,500 Shares plus 21 out of 35 to receive additional 500 Shares 18.00%
15,000 52 2,500 Shares plus 16 out of 52 to receive additional 500 Shares 17.69%
20,000 22 3,500 Shares plus 1 out of 22 to receive additional 500 Shares 17.61%
25,000 6 4,000 Shares plus 4 out of 6 to receive additional 500 Shares 17.33%
30,000 6 5,000 Shares plus 2 out of 6 to receive additional 500 Shares 17.22%
35,000 2 6,000 Shares 17.14%
40,000 3 6,500 Shares plus 2 out of 3 to receive additional 500 Shares 17.08%
45,000 3 7,500 Shares plus 1 out of 3 to receive additional 500 Shares 17.04%


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18
Number of
Offer Shares
applied for
Number
of valid
applications Basis of allocation/ballot
Approximate
percentage
allotted of
the total
number of
Offer Shares
applied for
50,000 6 8,500 Shares 17.00%
60,000 4 10,000 Shares plus 1 out of 4 to receive additional 500 Shares 16.88%
70,000 1 11,500 Shares 16.43%
80,000 9 13,000 Shares plus 2 out of 9 to receive additional 500 Shares 16.39%
100,000 14 16,000 Shares plus 11 out of 14 to receive additional 500 Shares 16.39%
200,000 5 32,500 Shares plus 2 out of 5 to receive additional 500 Shares 16.35%
300,000 8 49,000 Shares plus 1 out of 8 to receive additional 500 Shares 16.35%
400,000 18 65,000 Shares plus 14 out of 18 to receive additional 500 Shares 16.35%
Total 2,556 Total number of Pool A successful applicants: 1,136
Pool B
Number of
Offer Shares
applied for
Number
of valid
applications Basis of allocation/ballot
Approximate
percentage
allotted of
the total
number of
Offer Shares
applied for
500,000 5 86,500 Shares 17.30%
700,000 2 120,500 Shares 17.21%
800,000 2 137,500 Shares 17.19%
1,000,000 1 171,500 Shares 17.15%
2,500,000 1 428,500 Shares 17.14%
3,186,500 3 546,000 Shares 17.13%
Total 14 Total number of Pool B successful applicants: 14
The final number of Offer Shares under the Hong Kong Public Offering is 6,373,000 Offer Shares,
representing approximately 10% of the total number of Offer Shares initially available under the
Global Offering.
RESULTS OF ALLOCATIONS
Results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering,
including the Offer Price, the level of indications of interest in the International Offering, the
level of applications in the Hong Kong Public Offering and the basis of allocation of the Hong
Kong Offer Shares will be published on Wednesday, June 28, 2023 on the websites of the Stock
Exchange at www.hkexnews.hk  and the Company at www.laekna.com .


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19
The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
successfully applied for through the White Form eIPO service or through the CCASS EIPO
service, including the Hong Kong identity card numbers, passport numbers, Hong Kong business
registration numbers or certificate of incorporation numbers of successful applicants (where
applicable) and the number of Hong Kong Offer Shares successfully applied for, will be made
available at the times and dates and in the manner specified below:
• in the announcement to be posted on the Company ’s website at www.laekna.com  and the
Stock Exchange ’s website at www.hkexnews.hk  by no later than 8:00 a.m. on Wednesday,
June 28, 2023. Please note that the list of identification document numbers set out in this
announcement may not be a complete list of successful applicants since only successful
applicants whose identification document numbers are provided to HKSCC by CCASS
Participants or via the White Form eIPO service are disclosed. Applicants with beneficial
names only but not identification document numbers are not disclosed due to personal
privacy issue as elaborated below. Applicants who applied for the Hong Kong Offer Shares
through their brokers or nominees can consult their brokers or nominees to enquire about
their application results;
• from the designated results of allocations website at www.iporesults.com.hk  (alternatively: English
https://www.eipo.com.hk/en/Allotment ; Chinese https://www.eipo.com.hk/zh-hk/Allotment )
with a “search by ID” function on a 24-hour basis from 8:00 a.m. on Wednesday, June 28, 2023 to
12:00 midnight on Tuesday, July 4, 2023; and
• from the allocation results telephone enquiry by calling +852 2862 8555 between 9:00 a.m.
and 6:00 p.m. from Wednesday, June 28, 2023 to Monday, July 3, 2023 (excluding Saturday,
Sunday and public holiday in Hong Kong).
This announcement contains a list of identification document numbers. Identification document
numbers shown in the section headed “Results of Applications Made by White Form eIPO ” in this
announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong business
registration numbers/certificate of incorporation numbers/beneficial owner identification codes (if
such applications are made by nominees as agent for the benefit of another person), whereas those
displayed in the section headed “Results of Applications Made by Giving Electronic Application
Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS Participants
via CCASS. Therefore, the identification document numbers shown in the two sections are
different in nature.
Since applications are subject to personal information collection statements, beneficial owner
identification codes displayed in the sections headed “Results of Applications Made by White
Form eIPO ” and “Results of Applications Made by Giving Electronic Application Instructions
to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
announcement.


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20
SHAREHOLDING CONCENTRATION ANALYSIS
A summary of allotment results under the Global Offering is set out below:
• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
Placee
Number
of Offer
Shares
subscribed
for
Number of
Shares held
upon Listing
Subscription
as approximate
 percentage
of the
International
Offering
Subscription
as approximate
percentage
of total
Offer Shares
Number of
Shares held
upon Listing as
approximate
percentage of
the total issued
share capital
Top 1 38,021,000 38,021,000 66.29% 59.66% 9.75%
Top 5 57,105,000 152,213,310 99.56% 89.61% 39.02%
Top 10 57,265,000 152,373,310 99.84% 89.86% 39.06%
Top 20 57,306,500 152,414,810 99.92% 89.92% 39.07%
Top 25 57,309,000 152,417,310 99.92% 89.93% 39.07%
• Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
Shareholder
Number of
Hong Kong
Offer Shares
subscribed for
Number of
International
Offer Shares
subscribed for
Number of
Offer Shares
subscribed for
Number of
Shares held
upon Listing
Subscription
as approximate
percentage of
Hong Kong
Public Offering
Subscription as
approximate
percentage of
International
Offering
Subscription
as approximate
percentage
of total
Offer Shares
Number of
Shares held
upon Listing as
approximate
percentage of
the total issued
share capital
Top 1 – 1,894,500 1,894,500 59,774,230 – 3.30% 2.97% 15.32%
Top 5 – 39,915,500 39,915,500 222,427,670 – 69.59% 62.63% 57.02%
Top 10 – 54,806,500 54,806,500 332,077,670 – 95.56% 86.00% 85.13%
Top 20 1,092,000 57,105,000 58,197,000 384,173,220 17.13% 99.56% 91.32% 98.48%
Top 25 2,375,500 57,105,000 59,480,500 385,852,850 37.27% 99.56% 93.33% 98.91%
In view of the high concentration of shareholding in a small number of Shareholders,
Shareholders and prospective investors should be aware that the price of the Shares could
move substantially even with a small number of Shares traded, and should exercise extreme
caution when dealing in the Shares.