2018年推出首款婴童辅食产品，2021年战略性进军家庭食品赛道。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，爷爷的农场国际控股有限公司（以下简称"爷爷的农场"）于2026年1月5日正式 向港交所递交招股说明书，拟主板挂牌上市，招银国际担任独家保荐人。 成立于2015年的爷爷的农场致力于提供真材料、少添加、有营养的高品质健康食品，其于2018年推 出首款婴童辅食产品，后于2021年战略性进军家庭食品赛道。 爷爷的农场在招股书中表示，本次IPO募集所得资金净额将主要用于提升产品开发能力，并持续创新 并升级婴童零辅食产品线以及家庭食品产品线；投资供应链发展并加强内部的生产能力以及端到端采 购管理，以确保产品源头质量；加强品牌建设和营销推广，以提升品牌知名度并触及更广泛的消费者 群体；扩大国内销售网络并开发海外市场；以及用作营运资金及一般公司用途。 本文由公众号IPO早知道（ID：ipozaozhidao）原创撰写，如需转载请联系C叔↓↓↓ 其中，婴童零辅食领域的产品包括食用油、调味品、谷物类辅食、果汁、果泥和果泥酸奶产品以及零 食；家庭食品领域的 ...

Core Viewpoint - Zhongnong Zongyuan is a leading pig breeding technology platform in China, combining top-notch research capabilities with mature industrialization abilities, recently completing an A+ round of financing to further its technology development and commercialization [3][5]. Group 1: Company Overview - Zhongnong Zongyuan was established in October 2022 and is a national high-tech enterprise incubated by the Shenzhen Agricultural Genomics Research Institute of the Chinese Academy of Agricultural Sciences [3]. - The company has completed several rounds of financing amounting to hundreds of millions of RMB, with notable investors including Sequoia China Seed Fund and Lenovo Ventures [3]. - The company has established a collaborative network across multiple locations in Shenzhen, Tianjin, Hainan, and Wuhan, focusing on disruptive breeding technology and disease model creation [3]. Group 2: Technology and Product Development - Zhongnong Zongyuan has developed a diverse product pipeline, including standardized disease model pigs for new drug development and disease research [4]. - The company has achieved a full-chain technology closed loop from design breeding to production application, leveraging its leading somatic cell cloning technology and proprietary "Zongyuan Zhixin" liquid phase chip [5]. - The company is positioned favorably in the context of global regulatory policy optimization for gene-edited animals, with significant developments in the U.S. and EU regarding gene editing regulations [5]. Group 3: Strategic Importance and Market Position - The company aims to drive independent innovation in animal breeding technology and ensure genetic resource security, aligning with China's agricultural technology and seed industry revitalization strategies [6]. - Zhongnong Zongyuan's focus on precision editing for key traits such as disease resistance and meat quality is expected to provide a competitive edge in the breeding industry, particularly in the context of China's reliance on imported breeding stock [6]. - The company is set to expand its breeding bases and international market presence, with plans to establish subsidiaries in Hainan, Tianjin, and Wuhan, and a new subsidiary in Hunan [5][6]. Group 4: Investment and Future Growth - The recent financing round will primarily support the advancement of core product lines, expansion of breeding bases, and international market strategies [5]. - The company is anticipated to experience explosive growth as domestic and international regulatory policies for gene editing become clearer, enhancing its market share and technological barriers [7].

Core Viewpoint - Youjia Innovation (2431.HK) demonstrates long-term development confidence through actions such as major shareholders committing to not reduce their holdings and the chairman increasing his stake [2][3]. Group 1: Shareholder Commitment - Major shareholders, including executive directors and individual shareholders, voluntarily extended the lock-up period for their shares, with four executive directors holding a total of 18.42% extending their lock-up until December 27, 2026, and individual shareholders extending theirs until June 27, 2026 [2]. - Chairman Liu Guoqing purchased 50,000 H-shares at an average price of approximately HKD 12.60 per share on January 5, 2026, signaling confidence in the company's future [2]. Group 2: Business Growth and Market Position - Youjia Innovation has achieved a compound annual growth rate of over 50% in revenue, indicating strong business momentum and a deepening competitive moat [3]. - The company has expanded its customer base in the L2 pre-installed business, delivering to 42 automakers, including leading domestic and luxury brands, and is accelerating its international expansion [3]. - The L4 autonomous driving business has entered a commercialization phase, with successful deployments in various cities and high-demand scenarios, contributing over ten million yuan in revenue in the first half of the year [4]. Group 3: Industry Recognition - Youjia Innovation has been included in the Hang Seng Hong Kong Stock Connect Electronic Theme Index, reflecting market recognition of its industry position and growth potential [5].

Core Viewpoint - Chengdu Starry Microelectronics Technology Co., Ltd. has officially initiated its A-share IPO process by signing a counseling agreement with China International Capital Corporation on December 31, 2025 [4]. Group 1: Company Overview - Starry Microelectronics, established in 2019, focuses on providing interconnected chip solutions and has developed a full range of interconnected chips covering five major product lines: clock and general interface chips, PCIe interface chips, storage interface chips, network interface chips, and power management chips [4]. - Key products, including PCIe 5.0 Retimer, PCIe Bridge, PCIe Switch, and clock chips, have achieved mass production and large-scale application, serving various industries such as data centers, intelligent robotics, industrial internet, new energy vehicles, consumer electronics, and medical electronics [4]. - The company has established seven R&D centers in Chengdu, Beijing, Shanghai, and Shenzhen, and has obtained over 230 invention patents [4]. Group 2: Investment and Financial Backing - Since its inception, Starry Microelectronics has received investments from well-known institutions including Xingwang Investment, Tianji Capital, Yaotu Capital, Honghui Fund, Jiayu Capital, and China Merchants International [5].

重组A型肉毒毒素采用基因工程、蛋白质工程及合成生物学等技术研制开发，突破了重组表达与制剂 工艺等关键技术壁垒，不仅避免了传统制备方式中的生物安全风险，更在纯度、活性及安全性方面展 现出显著优势，有望成为现有传统肉毒毒素产品的升级替代品。 作为全球范围内率先掌握重组A型肉毒毒素核心技术的企业之一，君合盟生物不断拓宽其在治疗领域 的研发，包括成人上肢痉挛状态、成人下肢肢痉挛状态、原发性腋窝多汗症、眼睑痉挛等多个适应 症，有望重塑肉毒毒素市场竞争格局，加速新一代肉毒素对传统产品和海外产品的替代，推动行业向 更安全、更可控、更高效的产品研发方向发展。 本文由公众号IPO早知道（ID：ipozaozhidao）原创撰写，如需转载请联系C叔↓↓↓ 据IPO早知道消息，君合盟生物制药（杭州）有限公司（下称"君合盟生物"）于2025年12月31日宣 布，其自主研发并由其全资子公司君合盟生物制药（通化）有限公司生产和申请的"注射用重组A型 肉毒毒素"，在皮肤治疗领域方面又取得新的进展，用于治疗原发性腋窝多汗症临床研究的新药临床 试验（IND）申请 已获得国家药品监督管理局药品审评中心（CDE）的批准，即将进入关键性的人 体临床 ...

Core Viewpoint - Lide Health Technology (Guangzhou) Co., Ltd. has successfully completed a multi-million yuan Pre-A round financing, aiming to enhance its capabilities in AI life science instruments and biomanufacturing equipment, aligning with national strategic goals in the "14th Five-Year Plan" [4][8]. Group 1: Company Overview - Since its operation began in March 2024, Lide Health has established a multidisciplinary team of over 100 members, with more than 60% being R&D personnel, covering various fields such as AI, optics, mechanics, and biology [5]. - The company has launched over 10 high-end AI life science instruments and services, including AI models for cell identification and high-throughput imaging systems, addressing inefficiencies and high costs in traditional life sciences [5][6]. Group 2: Future Product Development - Lide Health plans to continue developing competitive product solutions, including virtual cell AI models and high-throughput drug screening systems, to provide large-scale, high-quality data production tools for the AI for Science sector [6]. - The company has built several innovative laboratories to prepare for large-scale production and delivery of its products [6]. Group 3: Intellectual Property and Standards - Lide Health has applied for over 110 patents, with around 50% being invention and PCT international patents, and has been recognized as an excellent case for patent transformation by the National Intellectual Property Administration [7]. - The company has participated in the formulation of 26 standards, including 7 national standards, promoting the automation and intelligent transformation of the life sciences sector [7]. Group 4: Investment and Market Position - The lead investor in the Pre-A round highlighted Lide Health's exceptional technological innovation and industrialization capabilities, aligning with national strategic directions and industry trends [8]. - The company has signed contracts worth several million yuan with nearly 100 leading clients, including top universities, research institutions, and major biopharmaceutical companies [6].

Core Viewpoint - Zhenqu Technology (Shanghai) Co., Ltd. is set to go public on the Hong Kong Stock Exchange, focusing on electric control solutions for the electric vehicle sector, with significant growth in overseas business and innovative product offerings [3][7]. Financial Performance - In 2023 and 2024, Zhenqu Technology's revenue reached 160 million yuan and 1.159 billion yuan, respectively, marking a year-on-year growth of 625.1%. For the first three quarters of 2025, revenue increased by 85.1% to 1.217 billion yuan, surpassing the total revenue for 2024, with overseas business revenue growing by 329.5% [7][8]. Market Position - As of September 30, 2025, Zhenqu Technology secured 50 contracts with 13 OEMs, including 4 foreign manufacturers. Its solutions are applied in 82 vehicle models, with 54 models in mass production. The company ranks 11th and 8th in China's motor controller installation volume for 2024 and the first three quarters of 2025, respectively [5][6]. Industry Growth - The global electric control market for electric vehicles has grown from 21.6 billion yuan in 2020 to an estimated 116.6 billion yuan by 2024, with a projected compound annual growth rate (CAGR) of approximately 12.1% reaching 231.2 billion yuan by 2030 [5][6]. Strategic Expansion - Zhenqu Technology aims to expand its customer base globally, leveraging China's position as the largest automobile exporter. The company is also extending its core motor control technology into high-growth adjacent applications, enhancing its long-term growth potential [6][8]. IPO and Funding - Following the last round of financing before the IPO, Zhenqu Technology's valuation stands at 4.28 billion yuan. The funds raised from the IPO will be used to accelerate product innovation, enhance R&D capabilities, improve domestic delivery, and support international expansion [8].

打响2026生物医药BD"第一枪"。 事实上， 除了此次与施维雅达成的最新合作，自2020年以来，英矽智能已凭借其AI平台实力和药物 研发专精构建了一个庞大的全球"朋友圈"，达成了数十项AI驱动的研发合作与管线授权。其合作模 式呈现出多维度、高价值的特点。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，英矽智能于2026年1月5日宣布与一家由基金会管理的全球独立制药公司施维雅 （Servier）达成一项总金额达8.88亿美元的研发合作。该合作将英矽智能人工智能驱动的药物研发 平台与施维雅在抗肿瘤药物研发领域的全球专业优势相结合，聚焦于创新抗肿瘤疗法的发现与开发。 根据协议，英矽智能将有资格获得最高3200万美元的首付款及近期研发里程碑付款，并将主导利用 其人工智能技术平台，发现并开发符合既定标准的潜在候选药物；施维雅将共同承担研发成本，并主 导后续临床验证及商业化进程。 值得注意的是，这也是 2026年生物医药领域首单大金额BD。 施维雅研究所执行董事Christophe Thurieau表示， "此次合作彰显了施维雅致力于运用尖端技术解 决尚未 ...

将于CES发布首款eSIM AR眼镜。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，雷鸟创新（RayNeo）日前完成新一轮超 10 亿元融资。本轮融资由中国移动链 长基金与中信金石（旗下茅台金石、金石成长等基金）领投，中国联通旗下联创创新基金等机构共同 参与。 值得注意的是， 本次融资是国内运营商首次战略投资智能眼镜赛道，意味着AR终端正式进入国家通 信基础设施的战略视野 ——面对"空间计算时代"这一战略窗口，中国两大通信巨头联手注资雷鸟创 新，背后是清晰的产业判断：在运营商的战略图谱中，AR智能眼镜已不再是"极客玩具"，而是智能 手机之后的下一代主流个人终端的既定答案。 运营商入局带来的不仅是资本背书，也标志着双方正式建立起深度战略合作关系，后续将围绕市场渠 道共建、商业模式创新与核心技术生态展开全方位协同： 借助运营商覆盖全国的线下服务网点、数 以亿计的用户基数，雷鸟AR智能眼镜将触达更广泛的消费群体；"充话费送眼镜""合约机"等运营商 擅长的服务模式，将大幅降低用户对AR智能眼镜的尝试门槛，成为后续市场爆发的关键推手。同 时，运营商在eS ...

Core Viewpoint - Wanbang Digital Energy is set to go public on the Hong Kong Stock Exchange, aiming to leverage its position as a leading supplier of smart charging equipment globally, with significant growth in revenue and market presence anticipated in the coming years [3][4]. Group 1: Company Overview - Wanbang Digital Energy, established in 2014, specializes in the smart charging equipment sector and is recognized as the first certified supplier for high-end OEM clients in China [4]. - The company has provided smart charging equipment and services to six of the top ten automotive manufacturers and energy companies listed in the 2025 Fortune Global 500 [4]. Group 2: Market Position and Sales - In 2024, Wanbang Digital Energy is projected to be the largest global supplier of smart charging equipment, with sales exceeding 470,000 units [5]. - The company has successfully delivered over 300 microgrid systems, catering to diverse energy needs across urban, rural, industrial, commercial, and residential settings [5]. Group 3: Financial Performance - Wanbang Digital Energy reported revenues of 3.474 billion yuan in 2023 and 4.182 billion yuan in 2024, reflecting a year-on-year growth of 20.4% [7]. - For the first three quarters of 2025, the revenue reached 3.072 billion yuan, showing a year-on-year increase of 23.0% [7]. Group 4: Profitability Metrics - The gross profit margins for Wanbang Digital Energy were 33.4% in 2023, 29.2% in 2024, and 24.6% for the first three quarters of 2025 [8]. - The net profit margins were recorded at 14.2% in 2023, 8.0% in 2024, and 9.8% for the first three quarters of 2025 [8]. Group 5: Future Plans and Use of IPO Proceeds - The funds raised from the IPO will primarily be allocated to the construction and operation of R&D centers, global market expansion, enhancing production capacity in Changzhou and Yancheng, strategic investments, and general corporate purposes [8].