Core Viewpoint - The article discusses the upcoming 2026 Bio-based Conference and Exhibition in Shanghai, focusing on the collaboration between Huaheng Biological and academic institutions to advance amino acid applications in animal nutrition, emphasizing the importance of non-essential amino acids in sustainable livestock production [2][4][8]. Group 1: Event Overview - The 2026 Bio-based Conference will take place from May 20-22 in Shanghai, featuring 11 thematic forums, 7 concurrent activities, over 1000 new product displays, and an industry award ceremony [2][11]. - The conference aims to create an efficient platform for upstream and downstream industry connections, promoting low-carbon and green transformation in the sector [2]. Group 2: Collaboration and Research - Huaheng Biological has signed a strategic cooperation agreement with academician Yin Yulong and his team to focus on innovative research and industrial application of amino acids in animal nutrition [4][5]. - The collaboration aims to convert research outcomes into efficient and environmentally friendly feed additives, enhancing animal health and production performance [4]. Group 3: Importance of Non-Essential Amino Acids - Non-essential amino acids (NEAAs) play a crucial role in enhancing gut immunity, maintaining gut health, and improving animal growth performance while reducing antibiotic use and heavy metal emissions [4][6]. - The demand for NEAAs increases significantly during immune stress conditions, with specific amino acids like glutamine and arginine showing a 2-3 times higher requirement during peak immune responses [6][7]. Group 4: Advances in Amino Acid Production - Synthetic biology is revolutionizing the production of amino acids, with Huaheng Biological collaborating with academician Zheng Yuguo's team to establish a 3000-ton/year bio-based L-methionine production line [8][10]. - The team has developed key technologies for the efficient synthesis of L-methionine precursors, achieving the highest domestic and international production rates [10].

Investment Rating - The report maintains a "Recommended" rating for the new materials industry [1] Core Insights - The new materials sector is positioned as a crucial direction for the chemical industry, currently experiencing rapid growth in downstream demand. With policy support and technological breakthroughs, domestic new materials are expected to accelerate into a long-term growth phase. The report emphasizes that "one generation of materials leads to one generation of industry," highlighting the foundational nature of the new materials industry as the material basis for other sectors [3][4]. Summary by Sections 1. Electronic Information Sector - Focus areas include semiconductor materials, display materials, and 5G materials. Samsung Display has officially launched mass production of the 8.6 generation OLED panels, which will be used in new laptops this year [5][20]. 2. Aerospace Sector - Key materials of interest are PI films, precision ceramics, and carbon fibers. The successful suborbital flight test of the Lihong No. 1 vehicle demonstrates advancements in low-cost and flexible launch capabilities [7]. 3. New Energy Sector - Focus on photovoltaic materials, lithium-ion batteries, proton exchange membranes, and hydrogen storage materials. India is projected to become the second-largest solar market globally by 2026, driven by steady installation growth [9]. 4. Biotechnology Sector - Key areas include synthetic biology and scientific services. A team from Tsinghua University in Shenzhen has developed a 3D-printed "mini heart" that mimics the rhythmic beating of a real heart, with future applications in organ printing anticipated [11]. 5. Energy Conservation and Environmental Protection Sector - Focus on adsorbent resins, membrane materials, and biodegradable plastics. The Ministry of Industry and Information Technology has launched an action plan to promote high-quality development of industrial internet platforms, aiming for over 450 influential platforms by 2028 [13]. 6. Key Companies and Earnings Forecast - The report highlights several companies with their respective stock prices and earnings per share (EPS) forecasts for 2024A, 2025E, and 2026E, along with their price-to-earnings (PE) ratios and investment ratings. Notable companies include: - Ruihua Tai (688323.SH): EPS forecast of 0.26 for 2026E, rated as "Increase" [14] - Guangwei Composite (300699.SZ): EPS forecast of 0.97 for 2026E, rated as "Buy" [14] - Zhongfu Shenying (688295.SH): EPS forecast of 0.23 for 2026E, rated as "Buy" [14] - Wanrun Co., Ltd. (002643.SZ): EPS forecast of 0.53 for 2026E, rated as "Buy" [14] - Dinglong Co., Ltd. (300054.SZ): EPS forecast of 0.96 for 2026E, rated as "Buy" [14]

Core Viewpoint - The company, Huaheng Biological, is currently operating normally and has no undisclosed matters at this time [1] Group 1: Company Operations - The company confirmed that its operations are normal and there are no undisclosed matters [1] - The company submitted an application for issuing H-shares and listing on the Hong Kong Stock Exchange on September 30, 2025 [1] Group 2: Regulatory Approval - The issuance and listing of H-shares require approval from the China Securities Regulatory Commission, the Hong Kong Securities and Futures Commission, and the Hong Kong Stock Exchange [1] - There is uncertainty regarding the approval process for the H-share issuance and listing [1] Group 3: Information Disclosure - The company will fulfill its information disclosure obligations in accordance with the progress of the H-share issuance and listing [1] - Investors are advised to pay attention to investment risks related to this matter [1]

Group 1 - The core viewpoint of the article highlights the increasing demand for amino acids in various industries, particularly in animal feed, pharmaceuticals, and food sectors [1] - Huaheng Biological (688639.SH) confirmed that its L-valine and other amino acid products play a crucial role in promoting protein synthesis and maintaining normal metabolism and health in animals [1] - The company supplies its amino acid products to major clients, including Muyuan Foods and Haida Group [1]

Group 1 - The core point of the news is that Huaheng Biological experienced a decline of 5.22% in its stock price, reaching 37.80 CNY per share, with a trading volume of 464 million CNY and a turnover rate of 4.77%, resulting in a total market capitalization of 9.454 billion CNY [1] - Huaheng Biological, established on April 13, 2005, and listed on April 22, 2021, is primarily engaged in the research, production, and sales of amino acids and their derivatives, with the main revenue composition being 70.96% from amino acid series, 20.96% from other supplements, 5.34% from vitamins, and 2.74% from other products [1] Group 2 - From the perspective of major circulating shareholders, the fund under Jiao Yin Schroder has reduced its holdings in Huaheng Biological by 3.8368 million shares, now holding 4.3135 million shares, which accounts for 1.72% of the circulating shares, resulting in an estimated floating loss of approximately 8.9721 million CNY [2] - The Jiao Yin Advanced Manufacturing Mixed A fund, managed by Guo Ruo, has a total asset scale of 4.497 billion CNY, with a year-to-date return of 3.32% and a one-year return of 55.55% [2][3] Group 3 - The Jiao Yin Advanced Manufacturing Mixed A fund has Huaheng Biological as its seventh-largest heavy stock, with the reduced holdings accounting for 3.05% of the fund's net value, leading to an estimated floating loss of about 8.9721 million CNY [4]

Core Viewpoint - The article discusses a strategic cooperation agreement between Huaheng Biological and a research team led by Academician Yin Yulong, focusing on the innovative research and industrial application of amino acids in animal nutrition [1][3]. Group 1: Strategic Cooperation - The cooperation aims to advance research and development in amino acids for animal nutrition, with a focus on transforming research outcomes into efficient and environmentally friendly feed additives [3]. - The collaboration is expected to lead to breakthroughs in the application of amino acids in low-protein diets, precision feeding, and green farming, supporting sustainable development in the livestock industry [3]. Group 2: Company Overview - Huaheng Biological (688639.SH) is a high-tech enterprise centered on synthetic biology, specializing in green technology innovation and value creation, with main products including amino acids, vitamins, and bio-based materials [4]. - The company provides innovative and sustainable products and solutions for various fields, including intermediates, animal nutrition, personal care, plant nutrition, and functional foods [4].

Market Overview - The chemical products sector experienced a decline of 0.55% on January 14, with Chenghe Technology leading the losses [1] - The Shanghai Composite Index closed at 4126.09, down 0.31%, while the Shenzhen Component Index rose to 14248.6, up 0.56% [1] Top Gainers in Chemical Sector - Qicai Chemical (300758) saw a significant increase of 20.01%, closing at 16.85 with a trading volume of 524,100 shares and a turnover of 832 million [1] - Changhua Chemical (301518) rose by 12.77%, closing at 44.60 with a trading volume of 124,200 shares and a turnover of 519 million [1] - Demei Chemical (002054) increased by 9.99%, closing at 8.81 with a trading volume of 420,300 shares and a turnover of 360 million [1] Top Losers in Chemical Sector - Chenghe Technology (688625) declined by 5.79%, closing at 58.71 with a trading volume of 88,500 shares and a turnover of 525 million [2] - Duofuduo (002407) fell by 4.31%, closing at 31.55 with a trading volume of 1,265,100 shares and a turnover of 404.6 million [2] - Kaisa Bio (688065) decreased by 3.97%, closing at 59.77 with a trading volume of 158,000 shares and a turnover of 965 million [2] Capital Flow Analysis - The chemical products sector experienced a net outflow of 1.757 billion from institutional investors, while retail investors saw a net inflow of 1.333 billion [2] - The top stocks with significant net inflows from retail investors include Qicai Chemical (300758) with a net inflow of 256 million [3] - Demei Chemical (002054) also had a notable net inflow of 108 million from retail investors [3]

Core Viewpoint - Biomanufacturing is identified as a key future industry in China's 14th Five-Year Plan, expected to create a market worth trillions in the next decade, driven by advancements in technology and policy support [2][5]. Group 1: Industry Overview - The biomanufacturing industry in China is nearing a total scale of 1 trillion yuan, with fermentation capacity accounting for over 70% of the global total [2][4]. - Shenzhen has become a hub for biomanufacturing, with 40% of newly established companies in this sector located there in the past three years, showcasing a significant industry clustering effect [4]. - The industry is supported by a comprehensive system of policy, funding, and technological advancements as outlined in the 14th Five-Year Plan [5]. Group 2: Key Enterprises - The article identifies 100 core enterprises in biomanufacturing, spanning the entire industry chain from upstream technology development to downstream commercial applications [7]. - Notable companies include: - Huada Technology, a leader in gene sequencing technology [17]. - Kaisa Biotech, which has achieved over 80% market share in the global long-chain dicarboxylic acid market [21]. - WuXi Biologics, representing China's capabilities in the global biopharmaceutical industry [27]. Group 3: Upstream Innovations - The upstream sector focuses on providing essential tools and technologies for research and production, with a shift towards domestic innovation and smart integration [16]. - Key trends include the localization of critical tools and the rise of AI-driven platform companies that enhance research efficiency [16][17]. - Over 75% of the 20 identified upstream enterprises are private, indicating a vibrant innovation landscape [16]. Group 4: Midstream Developments - The midstream sector is characterized by a dual structure of "upgraders" and "disruptors," with companies like Meihua Biotech and Chuaning Biotech leading in traditional fermentation while others like Kaisa Biotech innovate with new bioproducts [20][21]. - This segment contains the highest number of enterprises, with 40 out of the 100 identified companies, emphasizing the importance of production capacity and cost control [20]. Group 5: Downstream Applications - The downstream sector serves as a critical market for biomanufacturing, focusing on medical, consumer, and agricultural applications [25]. - Companies like Muyuan Foods exemplify the cost-saving potential of biomanufacturing in agriculture, while WuXi Biologics and Kelaiying represent the pharmaceutical sector's output capabilities [26][27]. - Future trends indicate a broadening of applications into new areas such as biobased textiles and environmental remediation [27].

Market Overview - The chemical products sector experienced a decline of 0.29% on January 13, with Qiaoyuan Co. leading the drop [1] - The Shanghai Composite Index closed at 4138.76, down 0.64%, while the Shenzhen Component Index closed at 14169.4, down 1.37% [1] Top Performers - Huaheng Biological (688639) saw a significant increase of 13.79%, closing at 41.34 with a trading volume of 419,600 shares and a transaction value of 1.721 billion [1] - Chenghe Technology (688625) rose by 12.29%, closing at 62.32 with a trading volume of 109,000 shares and a transaction value of 672 million [1] - Kaisa Biological (688065) increased by 12.14%, closing at 62.24 with a trading volume of 177,800 shares [1] Underperformers - Qiaoyuan Co. (301286) fell by 8.67%, closing at 47.41 with a trading volume of 53,000 shares and a transaction value of 258 million [2] - Hangqing Co. (002430) decreased by 6.99%, closing at 32.06 with a trading volume of 311,600 shares [2] - Taihe Technology (300801) dropped by 6.72%, closing at 30.39 with a trading volume of 173,200 shares [2] Capital Flow - The chemical products sector saw a net outflow of 642 million from institutional investors and 357 million from retail investors, while retail investors had a net inflow of 999 million [2] - The capital flow data indicates a mixed sentiment among different investor types within the sector [2] Individual Stock Capital Flow - Duoliangduo (002407) had a net inflow of 224 million from institutional investors, while it experienced a net outflow of 1.09 billion from retail investors [3] - Wanhu Chemical (600309) saw a net inflow of 189 million from institutional investors, with a net outflow of 76.596 million from retail investors [3] - Yahua Group (002497) had a net inflow of 154 million from institutional investors, while retail investors experienced a net outflow of 17.488 million [3]

重要内容提示： 安徽华恒生物科技股份有限公司（以下简称"公司"）于近日收到公司副总经理刘忠诚先生提交的书面辞 职报告，刘忠诚先生因个人原因，申请辞去公司副总经理职务。辞职后，刘忠诚先生不再担任公司任何 职务。 证券代码：688639 证券简称：华恒生物 公告编号：2026-001 安徽华恒生物科技股份有限公司 关于公司高级管理人员离任的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 一、高级管理人员离任情况 2026年1月13日 截至本公告披露日，刘忠诚先生未直接持有公司股份，不存在应当履行而未履行的承诺事项，刘忠诚先 生将继续严格遵守《上海证券交易所科创板股票上市规则》等规定。 刘忠诚先生在担任公司副总经理期间，恪尽职守、勤勉努力，公司董事会对刘忠诚先生自任职以来对公 司做出的贡献致以诚挚的感谢！ 特此公告。 安徽华恒生物科技股份有限公司董事会 (一)提前离任的基本情况 ■ (二)离任对公司的影响 根据相关法律法规和《公司章程》的有关规定，刘忠诚先生的辞职报告自送达公司董事会之日起生效， 其辞职不会影响公司相关工作的正 ...