（先声药业公告） 根据该协议，公司将从AbbVie收取首付款，以及最高可达10.55亿美元的选择性权益及里程碑付款，双方还约定就净销 售额收取分级特许权使用费。此次付款的收到，标志着公司与AbbVie在推进SIM0500临床开发合作方面取得了积极进 展。 近日，先声药业发布公告称，近日公司收到来自AbbVie支付的4000万美元款项，这是与AbbVie就研究性新候选药物 SIM0500所签订的海外许可选择权协议下的里程碑付款。 ...

2月3日，巴比食品发布2025年年度业绩快报公告。当中披露，经初步核算，公司2025年实现营业收入18.59亿元，同比 增长11.22%；实现归属净利润2.73亿元,同比下降1.30%。 （企业公告） 公告指出，报告期内，公司积极进行业务拓展与整合，深化全国化布局，加盟门店数量稳步增长，顺利完成南京"青 露"、浙江"馒乡人"等项目并购，进一步完善区域市场布局，有效带动加盟门店业务规模提升。同时，公司持续强化精 益改善、新品研发及供应链管理优化，有效控制原材料成本，全面提升整体运营效率，保障经营发展稳健向好，实现 营业收入稳步增长，成本费用合理下降，归属于上市公司股东的扣除非经常性损益的净利润同比增长16.49%。 此外，报告期内公司间接持有的东鹏饮料（集团）股份有限公司股票受二级市场价格波动的影响，产生的公允价值变 动收益和投资收益较去年同期合计减少9382万元，导致公司营业利润、利润总额、净利润同比有所下降。 ...

Core Insights - Bawang Tea Ji represents one of the most exciting entrepreneurial stories in recent years, with founder Zhang Junjie successfully pivoting from the crowded fruit tea market to the original leaf fresh milk tea segment, achieving high brand recognition [1] - The company has adopted a new business model to address long-standing criticisms in the tea beverage industry, shifting from a traditional supply chain model to a fixed revenue-sharing model based on store GMV, which aligns the interests of the brand and franchisees [2][3] - The brand's rapid expansion has seen its store count grow from fewer than 30 in 2021 to over 1,000 by 2022, indicating a strong market presence and demand for its products [9] Business Model and Strategy - Bawang Tea Ji's new model involves sharing profits based on store GMV and providing discounts to franchisees, which aims to create a partnership dynamic between the brand and its stores [2][3] - The company has reduced its SKU count from 45-50 to around 25, focusing on original leaf fresh milk tea, which has led to improved operational efficiency and reduced costs [12][13] - The brand has also introduced new product lines to diversify its offerings while maintaining a focus on quality and brand identity [12][14] Franchisee Relations - Franchisee Yun Min emphasizes the importance of transparent communication and collaboration between the brand and its partners, which has fostered a supportive environment for growth [2][10] - The company has implemented a rigorous food safety and quality control system, which is crucial for maintaining brand integrity as it scales [15] - Bawang Tea Ji's approach to sharing equity with key franchisees has strengthened loyalty and commitment among its partners, facilitating smoother operations across its expanding network [10][11] Market Position and Future Outlook - The brand aims to position itself as a high-value player in the tea beverage market, focusing on product quality as the primary driver for customer loyalty [16] - Bawang Tea Ji's commitment to its founding vision of promoting Chinese tea culture globally remains strong, as evidenced by its recent marketing efforts highlighting traditional tea practices [16] - The company plans to continue its aggressive expansion strategy, with an expected addition of approximately 2,400 new stores in 2023, quadrupling its growth from the previous year [16]

2月3日，东鹏饮料于港交所主板挂牌上市。港股上市首日，东鹏饮料开盘报248港元/股，截至该日收盘，公司报251.8 港元/股，涨幅1.53%。 （东方财富网） ...

（极目生物公众号） 整合完成后，双方预计将形成行业领先的综合管线：既包括极目生物在视网膜、眼表的药物和器械的创新能力，也包 括麦得科科技在 IOL 与 屈光晶体研发、设计、制造和工程技术上的核心优势。 按照协议框架，麦得科科技眼科器械业务将纳入极目生物成为统一运营主体的一部分；双方团队将延续现有布局，在 上海（生物制药研发、注册事务、运营）、杭州（三类器械研发、生产与商业管理）和加州（研发与全球合作）继续 开展核心业务。 近日，极目生物宣布已与杭州的眼科创新医疗器械企业麦得科科技达成战略协议，计划将麦得科科技的眼科器械业务 整合进入极目生物体系，推动双方在全球范围内共同构建眼科药械一体化创新平台。 本次战略性合并将把麦得科科技的高端人工晶体（IOL）、有晶体眼人工晶状体MPL（可植入式隐形眼镜 Phakic Lens）与屈光器械平台全面纳入极目生物的全球创新体系。通过结合麦得科科技在先进器械研发、设计与智能制造方 面的深厚经验，与极目生物在药物研发与全球化布局方面的优势，双方将共同打造更具前瞻性的综合眼科创新矩阵。 ...

Group 1 - The core announcement is that Changchun High-tech has received acceptance for the clinical trial application of its subsidiary Changchun Jinsai Pharmaceutical's injectable GenSci136 for domestic drug registration [1] - GenSci136 is a Class 1 therapeutic biological product independently developed by Jinsai Pharmaceutical, intended for the treatment of generalized myasthenia gravis (gMG) [2] - If the clinical trial application progresses smoothly, it will help the company expand its business structure, optimize its product structure, and enhance its core competitiveness [2]

Core Viewpoint - The company anticipates a challenging consumption environment during the upcoming Spring Festival, which is expected to be the "coldest Spring Festival in history" due to a delayed holiday and ongoing market uncertainties [1] Group 1: Market Outlook - The Spring Festival this year is delayed by 19 days compared to last year, leading to a cautious market sentiment among distributors and retailers [1] - There is an expectation that overall consumption will continue the slow recovery trend observed since the fourth quarter of last year [1] Group 2: Company Preparations - The company is actively preparing for the Spring Festival, with smooth progress in signing agreements with channel partners and ongoing online and offline promotional activities [1] - Inventory has been managed carefully to maintain a balance between volume and price, aiming to meet the company's sales expectations for the holiday season [1]

（企业公告） 2月3日，天邦食品发布投资者关系活动记录表。当中披露，关于公司最新的成本情况及未来的成本下降渠道，天邦食 品回复称，公司2025年全年育肥完全成本降至13.31元/公斤，同比下降1.89元/公斤；其中12月份育肥完全成本为12.92 元/公斤，剔除空栏费用后12月为12.6元/公斤，基本实现年初既定的降本目标。这一成果主要得益于报告期内，公司育 肥成活率、出栏均重、PSY 等各项关键养殖指标继续改善，且公司积极响应政策指引，主动优化产能布局，处置/退租 育肥场15个，清退对应育肥产能约9.24万头，一定程度上提高了产能满负荷率。但公司猪场产能利用率仍偏低，导致 单位折旧摊销等固定费用偏高，延缓了降本进程。公司正积极推进预重整相关工作，目标借重整契机，加速空置猪场 的租赁、代养、改造、处置，尽快提高满负荷率，并通过产业链合作、基因升级等措施优化经营水平。上述举措预计 可帮助公司打开成本进一步下降的空间。 ...

Group 1 - The core announcement is the appointment of new directors at Yiyuan Wine Industry, effective from February 3, 2026 [1] - Liu Yunqiang, aged 58, has over 26 years of experience in financial management, retail operations, and corporate management, and has held various senior management positions at 1919 since October 2017 [1] - Xiong Xia, aged 44, has over 17 years of experience in the Chinese liquor industry and has been with 1919 since March 2008, currently serving as the CEO [1] - Zhao Mingjun, aged 53, has over 16 years of experience in the Chinese liquor industry and has been with 1919 since October 2016, currently managing the North and Northwest regions [1] Group 2 - Zhao Guodong has been appointed as a non-executive director [1] - Liang Mingshu, Wang Renrong, and Xu Yan have been appointed as independent non-executive directors [1]

Core Viewpoint - The announcement from the company indicates that its controlling shareholder, Ningbo Hanyi, is facing legal actions due to overdue debts, which may affect the ownership of shares in the company [1][2]. Group 1: Debt and Legal Proceedings - Ningbo Hanyi applied for three loans totaling 300 million yuan from Yunnan International Trust Company, pledging 53.4 million shares of the company, which represents 37.80% of its holdings and 13.32% of the total share capital [1]. - The overdue debt principal balance is 280 million yuan, and the total execution amount from the court is approximately 281 million yuan, with execution fees around 482,800 yuan [2]. Group 2: Impact on Company Operations - The company states that the legal proceedings may lead to changes in the equity held by Ningbo Hanyi, but it has not had a significant direct impact on the company's daily operations, which continue to run normally [2].