Core Viewpoint - The company, He Yuan Bio (688765.SH), is actively expanding its hospital coverage for its product, Aofumin®, which is set to be launched in July 2025, and is currently progressing with hospital access and distribution channels [1]. Group 1 - The company confirmed that its production and operations are normal, with no undisclosed major issues or operational difficulties [1]. - The company is addressing investor inquiries regarding the application of its albumin product in hospitals in Wuhan and is committed to providing updates through public information [1].

Core Viewpoint - He Yuan Bio announced that as of the disclosure date, its shareholder Shanghai Tongsheng Yongying Enterprise Management Center (Limited Partnership) holds 20,084,400 shares, accounting for 5.62% of the total share capital of the company [1] Group 1 - Shanghai Tongsheng pledged 11,730,000 shares, which represents 58.40% of its total holdings and 3.28% of the company's total share capital [1] - After the pledge, the cumulative pledged shares by Shanghai Tongsheng amount to 11,730,000, maintaining the same percentages of 58.40% of its holdings and 3.28% of the total share capital [1]

Core Viewpoint - The announcement details the pledge of shares by a major shareholder of Wuhan Heyuan Biotechnology Co., Ltd., indicating a significant portion of their holdings has been pledged as collateral for financial purposes [2]. Group 1: Shareholder Information - As of the announcement date, Shanghai Tongsheng Yongying Enterprise Management Center (Limited Partnership) holds 20,084,400 shares of the company, accounting for 5.62% of the total share capital [2]. - The shareholder has pledged 11,730,000 shares, which represents 58.40% of their total holdings and 3.28% of the company's total share capital [2]. Group 2: Pledge Details - The pledged shares are not being used as collateral for major asset restructuring or performance compensation, and there are no potential performance compensation obligations associated with these shares [2]. - The cumulative pledged shares by the shareholder, as of the announcement date, total 11,730,000 shares, maintaining the same percentage of their holdings and the company's total share capital [2]. Group 3: Disclosure Commitment - The company commits to timely information disclosure should there be any significant changes regarding the pledged shares [2].

每经AI快讯，禾元生物（SH 688765，收盘价：72.09元）12月17日晚间发布公告称，截至本公告披露 日，武汉禾元生物科技股份有限公司股东上海同盛永盈企业管理中心（有限合伙）持有公司股份约2008 万股，占公司总股本的5.62%。本次质押完成后，其累计质押公司股份1173万股，占其持股总数的 58.4%，占公司总股本的3.28%。 2025年1至6月份，禾元生物的营业收入构成为：重组人血清白蛋白占比75.44%，其他占比18.76%，其 他业务占比5.8%。 截至发稿，禾元生物市值为258亿元。 每经头条（nbdtoutiao）——海南封关政策红利全解析：零关税、低个税、投资准入放宽、跨境资金自 由、创业扶持…… （记者 曾健辉） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 ...

证券代码：688765 证券简称：禾元生物 公告编号：2025-007 武汉禾元生物科技股份有限公司 关于持股 5%以上股东部分股份质押的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 二、累计质押股份情况 截至本公告披露日，上述股东累计质押股份情况如下： 上述质押事项如若出现其他重大变动情况，公司将按照有关规定及时履行信 息披露义务。 公司于近日收到公司股东上海同盛的通知，获悉其所持有公司的部分股份办 理了质押登记手续，具体事项如下： 一、本次股份质押情况 单位：股 | 股东名称 | 是否为控 股股东及 其一致行 | 本次质押 股数 | 是否为 限售股 | 是否补 充质押 | 质押起 始日 | | 质押到 期日 | 质权人 | 占其所持 股份比例 | 占公司总 股本比例 | 质押融 资资金 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | | | | | 用途 | | ...

禾元生物公告，股东上海同盛永盈企业管理中心（有限合伙）质押2008.44万股，占其所持股份比例为 58.40%，占公司总股本比例为3.28%。本次质押开始日为2025年12月16日，质押用途为自身资金需求。 ...

Group 1 - The core viewpoint of the articles highlights the fundraising activities of companies listed on the STAR Market, with a total of 17 companies raising 35.089 billion yuan this year, averaging 2.064 billion yuan per company [1][2] - Among the companies, Moer Technology raised the most at 8 billion yuan, primarily for cash management and the development of AI training chips and graphics chips [1] - Other notable fundraisers include Xian Yicai with 4.636 billion yuan for its silicon industry base project, and Muxi Co., Ltd. with 4.197 billion yuan [1] Group 2 - The average initial offering price for STAR Market stocks this year is 36.56 yuan, with four companies priced above 50 yuan, and two exceeding 100 yuan, the highest being Moer Technology at 114.28 yuan [2] - The issued price-earnings ratio ranges from 6.14 to 519.12, with an average of 83.91 and a median of 42.64, where C Bai Ao has the highest ratio at 519.12 [2] - Geographically, the majority of the issued companies are concentrated in Beijing, Hubei, and Guangdong, with fundraising amounts led by Beijing at 14.692 billion yuan [2]

国浩律师（武汉）事务所 关 于 武汉禾元生物科技股份有限公司 2025 年第三次临时股东会 之 法律意见书 湖北省武汉市洪山区欢乐大道 1 号宏泰大厦 21 楼 邮编：430077 The 21st floor, Hongtai Building, No. 1 Huanle Avenue, Hongshan District, Wuhan city, Hubei Province, China 电话/Tel: (+86)(027) 87301319 传真/Fax: (+86)(027) 87265677 网址/Website: http://www.grandall.com.cn 2025 年 12 月 国浩律师（武汉）事务所 法律意见书 国浩律师（武汉）事务所 关于武汉禾元生物科技股份有限公司 2025 年第三次临时股东会 之 法律意见书 本所律师已经对公司提供的与本次股东会有关的文件、资料及证言进行审查 判断，并据此出具法律意见。 公司已向本所保证其提供为出具本法律意见书所需的文件、资料是真实、准 确、完整、无重大遗漏的。 本法律意见书仅供公司为本次股东会之目的使用，不得用于其他任何目的或 用途。本所同意 ...

证券代码：688765 证券简称：禾元生物 公告编号：2025-006 武汉禾元生物科技股份有限公司 2025年第三次临时股东会决议公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 （一） 股东会召开的时间：2025 年 12 月 12 日 （二） 股东会召开的地点：武汉市东湖新技术开发区神墩五路 268 号禾元生物 10 楼会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 655 | | --- | --- | | 普通股股东人数 | 655 | | 2、出席会议的股东所持有的表决权数量 | 110,750,139 | | 普通股股东所持有表决权数量 | 110,750,139 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 34.9133 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 34.9133 | （四） 表决方式是否符合《公司法》及公司章程的规定，股东 ...

Summary of He Yuan Bio's Conference Call Company Overview - He Yuan Bio specializes in the research and development of plant-derived recombinant protein expression technology and products, established in 2006 as a national high-tech enterprise [2][3]. Core Product - The core product, HY1,001 (recombinant human serum albumin), was launched in China on July 18, 2025, for treating hypoalbuminemia due to liver cirrhosis. It has completed Phase II clinical trials in the U.S. and is advancing to Phase III [2][3][8]. Market Potential - Expected revenue from HY1,001 is projected to exceed 3 billion yuan by 2030, with a market share of approximately 39% in the recombinant human serum albumin market [4][19]. - The global market for human serum albumin (excluding China) is anticipated to grow from $4.643 billion in 2024 to $7.4 billion by 2031, with a CAGR of about 6.28%. The Chinese market is expected to grow from 39.5 billion yuan in 2024 to 57 billion yuan by 2030, with a CAGR of approximately 6% [2][10]. Production Advantages - He Yuan Bio utilizes rice endosperm cells as bioreactors, offering several advantages: 1. High recombinant protein expression (20-30 grams per kilogram of brown rice) [5]. 2. Simple purification process, leading to lower costs (production cost is at least 50% lower than traditional methods) [5][18]. 3. Easy scalability, with raw materials that can be stored for 2-3 years at room temperature [5]. 4. Good safety profile, with no risk of transmitting animal-borne diseases [5][18]. Production Capacity and Infrastructure - A 10-ton capacity human serum albumin raw material factory is operational, with a new intelligent production line of 120 tons per year set to begin construction in September 2024 [7]. - A transgenic rice planting base in Xinjiang is expected to cover over 9,000 acres by 2025, with plans to expand to 20,000 acres by 2026 and 35,000 acres by 2027 [7]. Competitive Landscape - The domestic human serum albumin market is heavily reliant on plasma purification, with 60% of supply imported. In 2021, China had only 290 plasma collection stations compared to 1,041 in the U.S. [4][11][12]. - Major competitors include Tian Tan Bio and Hua Lan Bio, with Tian Tan being the largest producer, collecting 2,781 tons of plasma in 2024 [15][16]. Risks - He Yuan Bio faces potential legal risks, including a patent investigation initiated by Virtual BioScience in December 2020, which has since been withdrawn. However, He Yuan Bio has filed a counter-infringement lawsuit [5][6]. Future Outlook - The company is optimistic about expanding its product pipeline, with additional products like HY1,002 and HY1,003 in development, targeting various medical conditions [21][22]. - Despite current financial losses, the high R&D investment is expected to position the company favorably for future growth, with a projected peak sales value of 9.8 billion yuan by 2030 [20].