Hangzhou Tigermed Consulting Co. Ltd. (“Tigermed”) successfully completed its initial public offering on the ChiNext board in Shenzhen on August 17, 2012 (stock code: 300347). The Company issued 13.4 million new shares at Rmb 37.88 per share to raise a total of Rmb 508 million, representing 25% of its enlarged capital. The IPO was well received by institutional and retail investors with more than 100x over-subscription. The stock closed at Rmb 50 on its first trading day, 32% above its offer price, with a market capitalization of approximately Rmb 2.7 billion (US$ equivalent of $420 million). Qiming Venture Partners and Ignition Partners are the only institutional investors in this deal.Tigermed is Qiming’s first domestic IPO and its success has marked an important milestone for the firm.

Tigermed is one of the leading contract research organizations (CRO) in China specializing in pharmaceutical research and development. It offers a broad range of services including all phases of good clinical practices (GCP) compliant clinical trials, registration (chemical and biological drugs, medical device and functional food, etc.), new drug development and technology transfer, GCP training and market research. In FY 2011, the Company recorded Rmb 193 million in revenue and Rmb 48 million in net profit, with a compound average growth in revenue and earnings of 75% p.a. and 148% p.a. respectively over the last 3 years.