16. 融资上市

17. 融资和上市 Fundraising & Listing

17.1. Celzyva是非中概股，无需中国证监会备案 Celzyva Is Not a China-Based Issuer and Is Not Required to File with the CSRC

① Celzyva Group targets NASDAQ SPAC IPO in 2026Q4. As illustrated in Chapter 4 of this DD data room, Celzyva is not a China-based issuer and is not required to file with the CSRC.

② Celzyva's collaborative partner, Shanghai Quansheng Company, targets HK Exchange 18A IPO in 2027Q4

CSRC: China Securities Regulatory Commission

17.2. 融资上市计划及主要合作方 Fundraising & IPO Plan and Key Professional Advisors & Partners (Legal Counsel, Auditors, Investment Bankers, and SPAC Sponsors)

17.3. 估值参考公司 Valuation Reference Company

Celzyva's achievements significantly surpass those of PrimeGen.

PrimeGen US
2917 Daimler Street, Santa Ana, CA 92705, United States

SPAC: DT Cloud Star Acquisition

Value: US$1.5 billion 15亿美元

Product：MSC therapy for Acute Liver Injury

Achievements: US FDA pre-IND meeting in Dec. 2025

17.4. 估值计算 Calculation for Valuation

完整的Celzyva风险调整后净现值（rNPV）计算可在要求时提供。

The full risk-adjusted Net Present Value (rNPV) calculation for Celzyva is available upon request.