(责任编辑：宋政 HN002) 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 格隆汇10月28日｜必贝特开盘走低，涨幅近91%，较开盘价跌幅达30%，触发临停。 ...

Core Viewpoint - Bibet has successfully listed on the STAR Market, marking its entry as one of the first newly registered companies in the growth tier of the STAR Market, with a significant opening increase of 175.03% on its first trading day [1] Company Overview - Bibet is a biopharmaceutical company focused on innovative drug development, guided by clinical value, and specializes in major disease areas such as tumors, autoimmune diseases, and metabolic diseases [1] - The company relies on its self-developed core technology platform to continuously develop first-in-class drugs and innovative drugs that meet unmet clinical needs [1] Product Pipeline - Bibet has one approved breakthrough therapy drug, BEBT-908 (injectable hydrochloride ipilimumab), for the treatment of relapsed/refractory diffuse large B-cell lymphoma (r/r DLBCL) [1] - The company has BEBT-209 in Phase III clinical trials and BEBT-109 has been approved to start Phase III clinical trials, with five products currently in Phase I clinical trials [1] - Additionally, multiple innovative drug products are in preclinical research stages [1]

N奕材、N必贝特涨幅回落，触发临停。 ...

Group 1: Company Listings - Three companies, Bibete (688759), Heyuan Bio (688765), and Xi'an Yicai (688783), were listed on the Shanghai Stock Exchange, while Taika Ying (920020) was listed on the Beijing Stock Exchange [1] Group 2: Bibete (688759) - Bibete is a biopharmaceutical company focused on innovative drug development for major diseases such as cancer, autoimmune diseases, and metabolic diseases [2] - The actual controller of Bibete is Qian Changgeng, who holds 15.2840% of the shares directly and controls a total of 43.9582% of the shares through agreements with other shareholders [2] - The total amount raised in this issuance is 1.6002 billion yuan, with a net amount of 1.4911 billion yuan allocated for new drug research and development, a research center, and working capital [3] Group 3: Heyuan Bio (688765) - Heyuan Bio is an innovative biopharmaceutical company with a leading global plant bioreactor technology platform [4] - The actual controller is Yang Daichang, who directly holds 15.03% of the shares and controls a total of 29.25% of the voting rights before the issuance [4] - The total amount raised in this issuance is 2.5995 billion yuan, with a net amount of 2.4304 billion yuan used for the construction of an albumin industrialization base, new drug research, and working capital [5] Group 4: Xi'an Yicai (688783) - Xi'an Yicai focuses on the research, production, and sales of 12-inch silicon wafers [5] - The controlling shareholder is Beijing Yisiwei Technology Group, which holds 12.73% of the shares directly and controls 25.68% of the shares through agreements with other shareholders [5] - The total amount raised in this issuance is 4.6358 billion yuan, with a net amount of 4.5068 billion yuan allocated for the second phase of the silicon industry base project [6] Group 5: Taika Ying (920020) - Taika Ying is a company driven by technological innovation, focusing on the global tire market for mining and construction [7] - The controlling shareholder is Taika Ying Holdings, which held 72.94% of the shares before the issuance and 58.35% after the issuance [7] - The total amount raised in this issuance is 331.875 million yuan, with a net amount of 290.4395 million yuan used for tire product upgrades and innovation technology development [8]

Market Performance - On October 27, 2025, A-shares saw all three major indices rise, with the Shanghai Composite Index closing at 3996.94 points, up 1.18% [1] - The Shenzhen Component Index closed at 13489.4 points, up 1.51%, and the ChiNext Index closed at 3234.45 points, up 1.98% [1] - The total trading volume in the Shanghai and Shenzhen markets was 2.34 trillion yuan, an increase of 360 billion yuan from the previous trading day [1] - Hong Kong's stock indices also experienced gains, with the Hang Seng Index rising 1.05% to 26433.7 points and a total trading volume of 2670.77 million HKD [1] - In the U.S. market, the S&P 500 Index rose 1.59% to 5954.5 points, while the Nasdaq Composite Index increased by 1.63% to 18847.28 points [1] New Stock Listings - Xi'an Yicai, listed on the Sci-Tech Innovation Board with a stock code of 688783, had an issue price of 8.62 yuan per share and specializes in 12-inch electronic-grade silicon wafer products [3] - The company’s products are widely used in sectors such as electronic communications, new energy vehicles, and artificial intelligence [3] - Bibet, also listed on the Sci-Tech Innovation Board with a stock code of 688759, had an issue price of 17.78 yuan per share and focuses on innovative drug development [3] New Stock Subscription - Delijia, with a stock code of 603092, has an issue price of 46.68 yuan per share and a price-to-earnings ratio of 34.98 times [4] - The company specializes in the research, production, and sales of high-speed heavy-load precision gear transmission products, primarily for wind turbine applications [4] Regulatory News - The China Securities Regulatory Commission (CSRC) released 23 measures aimed at enhancing the protection of small and medium investors in the capital market [5] - These measures focus on improving investor protection during the issuance and delisting processes, creating a fair trading environment, and enhancing customer service levels [5] - The CSRC also issued a work plan to optimize the Qualified Foreign Institutional Investor (QFII) system, aiming to attract long-term foreign capital and improve the investment environment [6]

Group 1 - The article discusses the upcoming IPOs, including two new stock subscriptions and four new listings scheduled for October 28, 2025 [2][3] - The new stocks include He Yuan Bio (688765.SH), Xi'an Yicai (688783.SH), Bi Bei Te (688759.SH), and Tai Kai Ying (920020.BJ) [3][4] - The subscription price for Tai Kai Ying is set at 46.68 yuan with an issuance price-earnings ratio of 34.98 times, compared to the industry average of 44.03 times [4] Group 2 - The company specializes in the research, development, production, and sales of high-speed heavy-load precision gear transmission products, primarily for wind power generation [6] - The company has established a comprehensive business chain from design to production and maintenance services, with capabilities for products ranging from 1.5MW to 22MW [6] - Key financial data shows a projected revenue of 37.15 billion yuan for 2024, down from 44.42 billion yuan in 2023, with a net profit of 5.34 billion yuan [7] Group 3 - The company has a strong technical foundation and has built a mature technology system, enhancing product performance in terms of power density, sealing, stability, and transmission efficiency [8] - The wind power industry is supported by national policies, promoting market development despite previous subsidy cancellations [8][9] - The company faces challenges such as limited financing channels and increasing competition in a market transitioning to price-based competition [10][11] Group 4 - The company has received certifications from authoritative institutions, ensuring high-quality control and a good industry reputation [9] - The company’s future growth may be constrained by its relatively short establishment period and the mismatch between existing capacity and future development plans [11] - The company is also affected by the reliance on foreign suppliers for certain core components, such as bearings, which may impact its competitive edge [11] Group 5 - The second company mentioned focuses on providing professional technical services, including engineering cost, bidding agency, and project management [12] - Financial projections indicate a revenue increase to 3.96 billion yuan in 2024, up from 3.68 billion yuan in 2023 [13][15] - The company benefits from a strong service quality reputation and a comprehensive service offering, but faces challenges such as rising labor costs and fragmented business segments [20][21]

New IPOs and Listings - Two new stocks are available for subscription: Delijia (603092.SH) on the Shanghai Stock Exchange and Zhongcheng Consulting (920003.BJ) on the Beijing Stock Exchange [1] - Four stocks are listed today: Bibete (688759.SH), Xi'an Yicai (688783.SH), Heyuan Bio (688765.SH), and Taikaiying (920020.BJ) [1] Delijia (603092.SH) - Delijia specializes in the R&D, production, and sales of high-speed heavy-load precision gear transmission products, primarily for wind power generation [2][7] - The IPO price is 46.68 CNY per share, with an institutional offering price of 47.68 CNY, and a market capitalization of 16.8 billion CNY [5] - The company has a projected market share of 10.36% globally and 16.22% in China for wind power transmission equipment by 2024, ranking third globally and second in China [7] - Delijia's revenue from onshore wind power is expected to be 36.25 billion CNY in 2024, accounting for 98.57% of its total revenue [7] Zhongcheng Consulting (920003.BJ) - Zhongcheng Consulting focuses on engineering consulting services and has ranked among the top five in Jiangsu Province for engineering cost consulting revenue from 2021 to 2024 [8][11] - The IPO price is 14.27 CNY per share, with a market capitalization of 1.4 billion CNY [11] - The company plans to invest 1.23 billion CNY in building an engineering consulting service network and 0.77 billion CNY in R&D and information technology [11] Taikaiying (920020.BJ) - Taikaiying is the first company in the mining and construction tire segment to be listed on the Beijing Stock Exchange, recognized as the "first tire stock" on the exchange [15][19] - The IPO price is 7.50 CNY per share, with a market capitalization of 750 million CNY [18] - The company holds the number one market share in the domestic market for large-tonnage crane tires [19] Xi'an Yicai (688783.SH) - Xi'an Yicai is a leading manufacturer of 12-inch silicon wafers, ranking first in China and sixth globally in terms of production capacity [21][22] - The IPO price is 8.62 CNY per share, with a market capitalization of 34.81 billion CNY [21] - The company has a projected capacity of 120,000 wafers per month by 2026, which will meet 40% of the demand in mainland China [22] Heyuan Bio (688765.SH) - Heyuan Bio focuses on the research and development of plant-derived recombinant protein expression technology and has developed several pharmaceutical products [33][38] - The IPO price is 29.06 CNY per share, with a market capitalization of 10.39 billion CNY [35] - The company plans to invest 19.09 billion CNY in the construction of a plant for recombinant human serum albumin and 7.94 billion CNY in new drug development [37]

必贝特公告称，公司首次公开发行股票并在科创板上市的申请已获上交所上市审核委员会审议通过，并 获中国证监会同意注册。本次公开发行股票9000万股，占发行后总股本的20%，发行价格为17.78元/ 股，募集资金总额16.00亿元。保荐人相关子公司中证投资参与战略配售，获配337.46万股，金额 6000.00万元，限售期24个月。发行费用合计1.09亿元。 ...

广州必贝特医药股份有限公司（以下简称"必贝特"、"发行人"或"公司"）首次公开发行人民币普通股 （以下简称"本次发行"）并在科创板上市的申请已经上海证券交易所（以下简称"上交所"）上市审核委 员会审议通过，并已经中国证券监督管理委员会（以下简称"中国证监会"）同意注册（证监许可 〔2025〕1645号）。《广州必贝特医药股份有限公司首次公开发行股票并在科创板上市招股说明书》在 上海证券交易所网站（http://www.sse.com.cn）和符合中国证监会规定条件网站（上海证券报： https://www.cnstock.com；中国证券报：https://www.cs.com.cn/；证券日报：http://www.zqrb.cn；证券时 报：https://www.stcn.com；经济参考报：http://www.jjckb.cn；金融时报： https://www.financialnews.com.cn）披露，并置备于发行人、上交所、本次发行保荐人（主承销商）中信 证券股份有限公司的住所，供公众查阅。 中信证券股份有限公司 国信证券股份有限公司 2025年10月23日 ■ 广州必贝特医药股份有限公司 ...

发行人：广州必贝特医药股份有限公司 保荐人（主承销商）：中信证券股份有限公司 广州必贝特医药股份有限公司（以下简称"必贝特"、"发行人"或"公司"）首次公开发行人民币普通股 （以下简称"本次发行"）并在科创板上市的申请已经上海证券交易所（以下简称"上交所"）上市审核委 员会审议通过，并已经中国证券监督管理委员会（以下简称"中国证监会"）同意注册（证监许可〔２０ ２５〕１６４５号）。《广州必贝特医药股份有限公司首次公开发行股票并在科创板上市招股意向书》 及附录在上海证券交易所网站（ｈｔｔｐ：／／ｗｗｗ．ｓｓｅ．ｃｏｍ．ｃｎ）和符合中国证监会规 定条件网站（上海证券报：ｈｔｔｐｓ：／／ｗｗｗ．ｃｎｓｔｏｃｋ．ｃｏｍ；中国证券报：ｈｔｔ ｐｓ：／／ｗｗｗ．ｃｓ．ｃｏｍ．ｃｎ／；证券日报：ｈｔｔｐ：／／ｗｗｗ．ｚｑｒｂ．ｃｎ；证 券时报：ｈｔｔｐｓ：／／ｗｗｗ．ｓｔｃｎ．ｃｏｍ；经济参考报：ｈｔｔｐ：／／ｗｗｗ．ｊｊｃ ｋｂ．ｃｎ；金融时报：ｈｔｔｐｓ：／／ｗｗｗ．ｆｉｎａｎｃｉａｌｎｅｗｓ．ｃｏｍ．ｃｎ）披 露，并置备于发行人、上交所、本次发行保荐人（主承销商）中信证券股份有限公司的住所，供公众查 阅。 敬请投资者 ...