A letter from Ascentage Pharma (6855.HK)

Oct 28, 2019, is an unforgettable day for every employee working at Ascentage Pharma. A new history was made when the bell rang at 9:30 a.m.

Marking a major milestone in the history of Ascentage, the company was officially listed on the Hong Kong Stock Exchange after the 10-year journey of persistent innovation.

For those who have long served the company, tears in their eyes attest the 10-year memory in Ascentage. New employees were thrilled by the pride they felt for the company. To those who took part in the listing process, it was truly a bitter sweet moment.

At this memorable moment, Dr. David Yang, co-founder, Chairman and CEO of Ascentage Pharma, has the following message for you to express his joy and gratitude.

Dear friends and colleagues,

The listing on the Hong Kong Stock Exchange marked another major milestone in Ascentage Pharma’s 10-year history. I would like to first express my heartfelt gratitude to all of our colleagues at Ascentage. Your devotion and dedication is what brought Ascentage to where it is today. We deeply appreciate our investors for your trust and faith in our ability to develop innovative therapies and drugs, and create long term value for investment. Our sincere thanks also goes to the leaders at all levels of the government, for your steadfast support over the years. It has indeed been a privilege to work with you all to serve patients in China and around the world under the mission of defeating cancer and other devastating diseases.

I have worked arm in arm with other two co-founders of the company for many years, 20+ years with Dr. Shaomeng Wang, and 15 years with Dr. Ming Guo. We take this opportunity to thank each and every one of you at Ascentage. We call ourselves Ironmen at Ascentage, because we are capable of overcoming any obstacles and we never back down when faced with challenges.

We are deeply grateful for our distinguished investors who have backed us all the way along the journey. As we all know, developing innovative drugs is highly risky and requires long term investment. We feel fortunate to have received continuous support from the investor community at those crucial moments in our history, including the series A, B and C Financing.

We must now thank the Hong Kong Stock Exchange and its Chief Executive, Mr. Charles Li, for his vision and foresight that led to the new Chapter 18A Listing Rules and Guidance, which has presented a new platform and opportunities for innovation-driven biotech company.

On this day of celebration, we must also thank our new institutional and individual investors for all your support.

Last but not least, we ought to thank our families for their sacrifice, understanding, and ever-present support.

Our goals will always be aligned as we face the common enemy – cancer. We shall stay united and determined in our joint effort to eliminate cancer.

The IPO in Hong Kong is the beginning of a new journey for Ascentage. It is our hope that Ascentage will continue to grow, and overcome every challenge that may be in front of us. We will stay true to the original purpose of our existence, and committed to the founding mission of addressing the unmet clinical needs in China and worldwide, and strive to serve patients around the world. We hope more of you will join us and work with us in achieving this mission.


Dajun Yang

Chairman & CEO

Ascentage Pharma