12月22日，格隆汇在线上举办"科技赋能·资本破局"分享会。本次分享会，备受瞩目的卓越公司评选榜 单将隆重揭晓，其中格隆汇"金格奖"年度卓越公司评选中，百奥赛图(688796.SH/02315.HK)、大众公用 (600635.SH/01635.HK)、宁德时代(300750.SZ/03750.HK)、赛力斯(601127.SH/09927.HK)、中集集团 (000039.SZ/02039.HK)5家企业荣获"年度A+H卓越企业奖"奖项。（排名不分先后，按公司首部字母顺 序排列） | T | 2025年度卓越公司评选榜单 | D | | --- | --- | --- | | | 年度 A+H 車 越 企业 深 | | | | 公司名称 | 公司代码 | | | 目與賽图 | 688796.SH/02315.HK | | | 大众公用 | 600635.SH/01635.HK | | | 宁德时代 | 300750.SZ/03750.HK | | | 赛力斯 | 601127.SH/09927.HK | | | 中集集团 排名不分先后 | 000039.SZ/02039.HK | "年度A+H卓越企业奖"旨 ...

Summary of Baiaosaitu Conference Call Company Overview - Baiaosaitu is a technology-driven international biotechnology company focused on becoming a global source of new drugs, leveraging its gene editing technology to develop fully humanized mouse platforms for various antibody discoveries [3][9] Industry and Business Model - The company specializes in the research and sales of model animals, with operational centers located in Nantong, Beijing Daxing, and Boston [2][4] - Core business lines include innovative model animals and clinical CRO services, as well as antibody sequence molecule transfers, ensuring rapid growth [3][4] Financial Performance - Revenue is projected to reach 389 million yuan in 2024, with a growth rate of 56% in the first half of 2025, indicating strong growth momentum [2][4] - The "Thousand Mice, Ten Thousand Antibodies" initiative has significantly improved drug development efficiency, contributing to revenue growth from 40 million yuan in 2020 to 163 million yuan in the first half of 2025 [2][5] - Expected net profit for 2024 is the first positive figure, with projections of 140-150 million yuan in 2025, and potential growth to 330-350 million yuan and 520-550 million yuan in subsequent years [2][6] Competitive Advantages - Baiaosaitu offers specialized mice designed for tumor disease models, closely integrated with new drug development processes, enhancing competitiveness in the antibody new drug field [2][7] - The company has developed multiple platforms (mAb, Light, Nano, TCR) aimed at improving new drug development efficiency [4][10] Catalysts for Stock Price Increase - Potential catalysts for stock price increase include rapid growth in model animal business, milestone revenues from antibody platform licensing, and positive cash flow from operating activities leading to breakeven [2][8] - The company has historically faced losses due to high R&D investments, but consistent revenue growth is expected to positively impact stock performance following the achievement of breakeven in 2024 [8] Future Outlook - Revenue for 2025-2027 is expected to exceed industry average growth rates, reflecting a favorable industry outlook and Baiaosaitu's competitive positioning [2][6] - The company plans to retain some proprietary development rights to address promising new targets and drugs, while continuing to grow its preclinical products and services [10]

Quantum Technology - The report highlights the release of the world's first 3D-extended architecture 10,000-qubit quantum processor VIO-40K by QuantWare, which aims to overcome the scaling bottleneck of quantum processors and is compatible with NVIDIA's NVQLink platform [3][7][8] - The 2025 Zhongguancun Quantum Conference announced 16 quantum technology achievements and a 500 million yuan investment fund to support quantum entrepreneurship, showcasing advancements in quantum computing and applications in energy [3][13][14] Biomanufacturing - Levinthal Biotech completed a multi-million Pre-A round financing to accelerate the development of its AI-driven full-atom model protein design platform Pallatom, which addresses the design challenges of cyclic peptides [3][15][16] - Aopu Mai's acquisition of 100% of Pengli Biotechnology was approved, enhancing its capabilities in cell culture media and CDMO services, thereby expanding its market position [3][20][21] - Baiaosaitu has established a dual-platform listing strategy with its recent listing on the STAR Market, focusing on innovative drug development driven by gene editing technology [3][23][24] Hydrogen Energy and Nuclear Fusion - The report notes the deepening international cooperation in nuclear fusion, with a Chinese expert set to chair the ITPA Coordination Committee from 2026 to 2028, and the signing of a contract for the mass production of the ITER first wall [3][28][29] - Snowman Group's metal plate fuel cell stack project has passed final acceptance, marking a significant step in the commercialization of hydrogen energy technology [3][30][31] Brain-Computer Interface - Neuralink has demonstrated a significant efficiency breakthrough with its new surgical robot, reducing the electrode implantation time from 17 seconds to 1.5 seconds, showcasing advancements in surgical precision and safety [3][34][46] - The report emphasizes the competitive landscape, with the U.S. leading in invasive technologies while China excels in non-invasive applications, highlighting the ongoing developments in both sectors [3][48][49] Embodied Intelligence - Beijing Humanoid Robotics has launched the first fully autonomous humanoid robot tour guide solution, integrating IoT capabilities for various applications in exhibition halls and shopping malls [3][50][51] - The Shanghai humanoid robot pilot alliance was established to enhance the supply chain for humanoid robots, indicating a collaborative effort to scale the industry [3][53][54] - Yushu Technology has introduced a humanoid robot App Store, allowing users to upload and share action models, further promoting the commercialization of humanoid robotics [3][55]

Core Insights - The pharmaceutical industry is experiencing a surge in innovative products, with clear domestic demand and significant potential for international expansion [4][14][25] - Investment opportunities are concentrated in innovative drugs and their supply chains, with a notable performance from CRO/CMO and chemical pharmaceuticals [9][15][17] - The report emphasizes the importance of innovation as the primary solution to industry challenges, driven by stable demand and supportive policies [26][32][41] Industry Overview - The pharmaceutical sector has faced revenue declines, with a 0.9% year-on-year decrease in revenue for the first three quarters of 2025, and net profit down by 2.2% [15][16] - The innovative drug sector has outperformed, with CRO/CMO and chemical pharmaceuticals showing net profit growth of 31.0% and 16.6% respectively [17][18] - The overall market is characterized by low fund holdings and historical valuation bottoms, indicating high investment value [20][25] Demand and Payment Dynamics - The demand for healthcare services is steadily increasing, with a projected 5% growth in total medical visits and hospital admissions in 2024 [26][28] - The aging population is expected to drive long-term demand, with 220 million people aged 65 and above by 2050 [28][30] - The medical insurance fund's income growth has outpaced expenditure growth, leading to a significant increase in fund reserves [32][36] Financing and Market Trends - The IPO market for healthcare has rebounded, with 28 IPOs in the first three quarters of 2025, a 100% increase from the previous year [42][43] - License-out transactions have surged, with transaction numbers increasing by 41% and total amounts reaching $92 billion, indicating a robust market for innovative drug licensing [48][50] - The number of IND applications and new clinical trials for innovative drugs has been steadily increasing, with a notable rise in NDA approvals [53][57] Technological Advancements - The report highlights the emergence of new technologies such as ADC and small nucleic acids, with domestic companies leading in these areas [60] - The focus on dual antibodies and GLP-1 drugs is expected to drive significant growth, with multiple development directions emerging [9][60] - The report notes that domestic companies are increasingly recognized for their innovative capabilities, particularly in the ADC space [60]

Core Viewpoint - The company Bai Aosai Tu-B (02315) has successfully listed on the Sci-Tech Innovation Board, establishing a dual-platform listing structure of "H+A" after its previous listing on the Hong Kong Stock Exchange in September 2022, which is a significant step in enhancing its capital market presence and corporate value [1] Group 1: Stock Performance - Bai Aosai Tu-B's stock rose over 5% during trading, with a current increase of 4.15%, priced at 28.12 HKD, and a trading volume of 19.5098 million HKD [1] Group 2: Business Strategy - The company initiated the "Thousand Mice, Ten Thousand Antibodies" plan in March 2020, utilizing an "antibody shelf" model that reduces R&D time and lowers early-stage R&D uncertainties, while also improving the efficiency and success rate of clinical transformations for pharmaceutical companies [1] - The antibody business started in 2020, generating revenue of 0.41 million CNY in its first year, with revenue reaching 1.63 million CNY in the first half of 2025, reflecting a year-on-year growth of 37.8% [1] - As further molecular developments progress in clinical trials, the company's platform value is expected to increase significantly [1]

消息面上，12月10日，百奥赛图在上交所科创板挂牌上市。这是百奥赛图继2022年9月1日登陆香港交易 所后，在深化资本市场布局、提升企业价值上又迈出的关键一步，标志着公司成功构建"H+A"双平台上 市格局。 百奥赛图-B(02315)盘中涨超5%，截至发稿，涨4.15%，报28.12港元，成交额1950.98万港元。 西部证券发布研报称，公司于2020年3月率先启动"千鼠万抗"计划，"抗体货架"模式，一方面节省了研 发时间并降低了早期研发的不确定性，另一方面通过源头平行比较多个靶点，有望协助药企提高研发效 率及临床转化的成功率。公司抗体业务始于2020年，全年收入0.41亿元，而2025年上半年收入达到1.63 亿元，同比增长37.8%，随着后续分子进一步临床推进，公司平台价值有望进一步放大。 本文源自：智通财经网 ...

Core Viewpoint - Baiaosaitu-B (02315) has successfully listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 10, marking a significant step in enhancing its capital market presence and corporate value, establishing a dual-platform listing structure with its previous listing on the Hong Kong Stock Exchange on September 1, 2022 [1] Group 1 - Baiaosaitu-B's stock price increased by over 5% during trading, with a current rise of 4.15%, reaching HKD 28.12, and a trading volume of HKD 19.5098 million [1] - The company initiated the "Thousand Mice and Ten Thousand Antibodies" plan in March 2020, which has streamlined research and development timelines and reduced early-stage R&D uncertainties [1] - The antibody business generated revenue of CNY 0.41 billion in 2020, with revenue reaching CNY 1.63 billion in the first half of 2025, reflecting a year-on-year growth of 37.8% [1]

Core Viewpoint - Baiaosaitu-B (02315) has successfully listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 10, marking a significant step in enhancing its capital market presence and corporate value, establishing a dual-platform listing structure with its previous listing on the Hong Kong Stock Exchange on September 1, 2022 [1] Group 1: Company Performance - Baiaosaitu's stock price increased by over 5% during trading, closing at 28.12 HKD with a trading volume of 19.51 million HKD [1] - The company's antibody business, initiated in March 2020, generated revenue of 0.41 million CNY in its first year, with revenue reaching 1.63 million CNY in the first half of 2025, reflecting a year-on-year growth of 37.8% [1] Group 2: Strategic Initiatives - The company launched the "Thousand Mice and Ten Thousand Antibodies" initiative, which aims to save research and development time and reduce early-stage R&D uncertainties while improving the efficiency and success rate of clinical transformations for pharmaceutical companies [1] - The platform's value is expected to further amplify as subsequent molecules advance in clinical trials [1]

MACD金叉信号形成，这些股涨势不错！ 责任编辑：卢昱君 百奥赛图-B（02315）发布公告，于2025年12月10日发行4750万股A股；转换2.886亿股非上市股份为 2.886亿股A股。 ...

Group 1 - As of December 10, 2023, 22 A-share listed companies have announced their performance forecasts for 2025, with 13 companies expecting positive results, accounting for 59.09% [1] - The semiconductor, consumer electronics, pharmaceutical and biotechnology, and machinery equipment sectors are showing strong performance among the listed companies [1] - Companies with a net profit increase of over 10% are 9, while 5 companies expect an increase of over 20%, with the top three being Bai'ao Saitou, Hongyuan Co., and Luxshare Precision, expecting increases of 303.57%, 30.30%, and 28.59% respectively [1][2] Group 2 - 12 companies are forecasting annual net profits exceeding 100 million yuan, with 5 companies exceeding 500 million yuan, and 3 companies exceeding 1.5 billion yuan, led by Luxshare Precision with a projected net profit of 17.186 billion yuan [2] - Bai'ao Saitou anticipates a net profit of approximately 135.37 million yuan for 2025, representing a 303.57% increase from the previous year, driven by overseas market expansion and strong R&D capabilities [2] Group 3 - As the year-end approaches, the market is expected to focus on annual report performance, with recommendations to pay attention to high-performing leading companies [3] - Investors are advised to explore sectors such as banking, non-bank finance, state-owned enterprise reform, and consumption while avoiding companies with poor or no performance [3] - High-growth companies in the annual report season are likely to attract market interest, particularly in sectors like artificial intelligence, semiconductor chips, robotics, innovative pharmaceuticals, and new energy [3]