Core Viewpoint - The article discusses the significant rise of state-owned capital (国资) in China's primary market, highlighting its role as a major investor and the evolving dynamics of investment strategies in the context of government policies and economic development [1][2]. Group 1: Policy Guidance - The core guidance for the development of state-owned capital in equity investment stems from top-level policies, which have evolved since the establishment of national investment companies in 1988 [12]. - The establishment of local investment companies surged after the State-owned Assets Supervision and Administration Commission (SASAC) was formed in 2003, leading to a proliferation of state-owned investment entities [12][14]. - Recent policies emphasize the need for "patient capital" and the prohibition of preferential treatment for specific operators, aiming to enhance the quality of government investment funds [5][6]. Group 2: Investment Dynamics - From 2014 to 2023, the proportion of government capital in newly raised RMB funds increased from 20% to 41%, indicating a shift towards state-owned capital as a primary funding source [2]. - State-owned capital is characterized by its dual focus on investment returns and local economic development, often requiring a balance between investment, risk, and local job creation [4][7]. - The investment strategies of state-owned entities are increasingly aligned with national economic goals, focusing on sectors like technology and innovation [6][7]. Group 3: Case Studies - Beijing E-Town International Investment Development Co., known as "亦庄国投," has invested significantly in the digital television and integrated circuit industries, demonstrating a model of leveraging state capital for local industrial development [16][17]. - The Xiong'an Group, established to support the development of the Xiong'an New Area, has focused on introducing key industries and managing multiple funds to drive local economic growth [20][21]. - Hefei Construction Investment Group has successfully transformed Hefei's industrial landscape by investing in leading companies like BOE Technology Group, resulting in a significant increase in local production capacity [43][44]. Group 4: Market Integration - The integration of state-owned capital into the market has led to the establishment of various funds aimed at fostering innovation and supporting emerging industries [50][51]. - The restructuring of state-owned investment entities in cities like Shanghai aims to eliminate redundancy and enhance the efficiency of capital allocation [56][58]. - The article highlights the importance of top-level coordination in optimizing the roles of different state-owned investment bodies to avoid overlapping functions and improve overall investment effectiveness [51][52].

Company Overview - Axbio International Limited, referred to as "安序源", is a global leader in integrated circuit biotechnology, established in 2016, focusing on developing next-generation electrochemical detection platforms for life sciences tools and diagnostics [3]. - The company integrates integrated circuits, biotechnology, and artificial intelligence technologies to create advanced foundational platforms for life science research and clinical applications [3]. Product Pipeline - As of April 21, 2025, Axbio's product pipeline includes a microarray chip analyzer, two EL-NGS gene sequencers, and various supporting test kits [3]. - The core product, AxiLona EL-100, has received registration approval from the Jiangsu Provincial Drug Administration [3]. Financial Performance - For the fiscal year ending December 31, 2023, Axbio reported zero revenue, with a net loss of $22.86 million. In 2024, projected revenue is $479,000, with an expected net loss of $23.47 million [4]. - The company has incurred research and development expenses of $15.29 million in 2023 and $11.41 million in 2024 [4]. Funding and Valuation - Axbio has undergone multiple funding rounds since its inception, including a $20 million funding round in October 2021, resulting in a post-money valuation of $239 million, and a $70 million funding round in March 2023, with a post-money valuation of $348 million [5]. - The company has a diverse shareholder structure, with Dr. Hui Tian holding 30.44% and Dr. Igor Ivanov holding 15.22% of the shares [6][8]. Shareholder Structure - The major shareholders include Dr. Hui Tian (30.44%), Dr. Igor Ivanov (15.22%), and several investment funds, including AstraZeneca-CICC and YF Digital Health, each holding 5.91% [6][8]. - The total number of shares held by various stakeholders amounts to 181,440,701 shares, representing 100% of the issued share capital [7].

Group 1: Industry Outlook and Policy Environment - The company aims to leverage policy opportunities from the Chinese government's focus on capital market reform and venture capital ecosystem optimization, with a commitment to technological self-reliance and productivity enhancement [2] - In 2024, the government is expected to introduce multiple policies to support these initiatives [2] Group 2: Investment Focus Areas - The company's investment strategy concentrates on sectors such as new energy materials, next-generation information technology, biomedicine, and advanced manufacturing [3] - Key incubated companies include Hydrogen Energy, Nano Fluor Technology, Lanyi Aviation, and others, covering niches like seawater hydrogen production and electric vertical take-off and landing aircraft [3] Group 3: Collaboration with Academia - The company has established a collaborative incubation system with institutions like Tsinghua University and Hong Kong University of Science and Technology, focusing on technology transfer agreements [4] - In 2024, the company completed its first technology transfer project with Hong Kong University, involving innovations from several universities [4] Group 4: Investment Returns and Exit Strategies - The company emphasizes the importance of project exits, utilizing methods such as equity transfers, mergers, and secondary market reductions [3] - In 2024, the company successfully recouped approximately CNY 180 million from direct investments and managed fund projects [3] Group 5: Concept Validation Fund - The company has over 20 years of experience in technology innovation services, creating a unique advantage in resource allocation and industry cultivation [4] - The concept validation fund assists early-stage technology projects by providing funding and guidance, enhancing the success rate of technology commercialization [4]

据证券之星公开数据整理，近期力合科创(002243)发布2025年一季报。截至本报告期末，公司营业总收 入4.67亿元，同比上升5.18%，归母净利润-2070.05万元，同比上升42.64%。按单季度数据看，第一季度 营业总收入4.67亿元，同比上升5.18%，第一季度归母净利润-2070.05万元，同比上升42.64%。本报告期 力合科创盈利能力上升，毛利率同比增幅16.34%，净利率同比增幅40.35%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率19.09%，同比增16.34%，净利率-7.59%，同比 增40.35%，销售费用、管理费用、财务费用总计1.03亿元，三费占营收比22.12%，同比减4.41%，每股 净资产6.0元，同比增2.03%，每股经营性现金流0.05元，同比增135.2%，每股收益-0.02元，同比增 42.62% 最近有知名机构关注了公司以下问题： 问：应收账款占净利润比例较高，公司计划采取哪些措施优化应收账款管理并提升现金流回速度？ 答:尊敬的投资者，您好。公司的应收账款同比有所下降且大部分在信用账期内，下一步公司将加强客 户信用管理和催收机制等措施，加大应收账款回收力 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002243 证券简称：力合科创 公告编号：2025-023号 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息 的真实、准确、完整。 3.第一季度报告是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 ■ 其他符合非经常性损益定义的损益项目的具体情况 □适用 √不适用 公司不存在其他符合非经常性损益定义的损益项目的具体情况。 将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》中列举的非经常性损益项目界 定为经常性损益项目的情况说明 公司是否需追溯调整或重述以前年度会计数据 □是 √否 ■ （二） 非经常性损益项目和金额 √适用 □不适用 单位：元 □适用 √不适用 □适用 √不适用 公司不存在将《公开发行证券的公 ...

Financial Performance - The company's revenue for Q1 2025 was ¥466,956,295.19, representing a 5.18% increase compared to ¥443,974,526.56 in the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥20,700,475.71, an improvement of 42.64% from a loss of ¥36,091,015.26 year-over-year[5]. - The net profit for the current period was a loss of ¥35,462,581.49, an improvement from a loss of ¥56,525,392.29 in the previous period[20]. - The net profit attributable to the parent company was a loss of ¥20,700,475.71, compared to a loss of ¥36,091,015.26 in the prior period, showing a significant reduction in losses[21]. - Basic and diluted earnings per share for the current period were both -0.0171, an improvement from -0.0298 in the previous period[21]. Cash Flow - The net cash flow from operating activities increased significantly to ¥58,018,953.98, a 135.20% improvement from a negative cash flow of ¥164,847,623.20 in the previous year[5]. - Cash inflows from operating activities totaled ¥745,119,969.77, up from ¥668,044,856.86 in the previous period, reflecting an increase of approximately 11.5%[22]. - The company's cash flow from financing activities was significantly impacted by debt repayment, which totaled $250.70 million, compared to $93.12 million in the prior period[23]. - The ending balance of cash and cash equivalents was $1.56 billion, down from $1.79 billion at the beginning of the period[23]. - The company’s cash flow from financing activities was significantly impacted by debt repayment, which totaled $250.70 million, compared to $93.12 million in the prior period[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥16,470,910,884.77, a decrease of 0.72% from ¥16,590,938,308.23 at the end of the previous year[5]. - The total liabilities decreased to ¥8,126,607,399.39 from ¥8,220,708,651.89, a reduction of about 1.1%[19]. - The total equity attributable to the parent company was ¥7,257,679,945.12, down from ¥7,280,644,148.82, indicating a slight decrease of about 0.3%[19]. - The total current assets slightly decreased from RMB 7,820,945,905.67 to RMB 7,815,830,408.46, a decrease of about 0.07%[17]. - The total non-current assets decreased from RMB 7,080,000,000 to RMB 7,000,000,000, reflecting a reduction of about 1.13%[17]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 40,760, with the top ten shareholders holding a significant portion of the shares[10]. - The largest shareholder, Shenzhen Qingyan Investment Holdings, owned 34.43% of the shares, totaling 416,812,955 shares[10]. - The company announced a change in the ownership structure of its controlling shareholder, which will not affect its governance or operational control[13]. - The company has completed the transfer of 100% equity of its controlling shareholder to the Shenzhen Municipal Government, maintaining the same actual controller[14]. Strategic Focus - The company plans to continue enhancing its operational efficiency and exploring new market opportunities in the upcoming quarters[5]. - The company experienced a 105.56% increase in bank wealth management products, indicating a strategic focus on investment growth[9]. - The company is actively managing its financial resources to support its subsidiaries' operational needs[15]. - The company plans to extend financial assistance to its subsidiary for three more years at an interest rate of 3.4%[15]. Operating Costs and Expenses - Total operating costs amounted to ¥517,305,756.96, compared to ¥509,569,222.86 in the prior period, indicating an increase of about 1.4%[20]. - Research and development expenses for the current period were ¥30,805,275.19, slightly higher than ¥29,946,821.92 in the previous period, indicating a focus on innovation[20]. - Cash paid to employees increased to $191.18 million from $177.55 million, reflecting a rise of approximately 7.5%[23]. - Cash paid for taxes rose to $65.73 million, up from $59.38 million, indicating an increase of about 10.5%[23].

在当今商业世界，ESG（环境、社会和公司治理）理念正成为衡量企业可持续发展能力的关键标尺。近年来， 证监会等监管机构纷纷出台一系列 ESG 政策，国内 ESG 信息披露体系也日益完善。从理念到行动，越来越多 的企业开始将 ESG 纳入战略规划，而力合科创无疑是这场变革中的先行者。 作为一家在科技创新领域深耕多年的企业，力合科创不仅在商业上取得了显著成就，更在社会责任和可持续发 展方面交出了一份令人瞩目的答卷。从推动行业绿色转型，到助力科技创新服务社会，再到关爱社会弱势群 体，力合科创以实际行动诠释了 ESG 理念的深刻内涵。 0 1 零碳征途的科技答卷 科技向善的先锋实践 力合科创在科技创新领域的布局同样令人瞩目。2024 年，其投资孵化的氢致能源凭借电解海水制氢技术的突 破性进展登上央视《新闻联播》。这一技术的成功研发，不仅突破了传统制氢技术对淡水资源的依赖，更为氢 能的大规模应用提供了新的可能。氢致能源的成功并非偶然。公司成功研发的高性能电解海水催化剂和电极材 料，首次实现了大规模稳定电解海水制氢。这一创新成果不仅大幅拓展了制氢原料来源，降低了生产成本，更 为全球能源转型提供了新的解决方案。同年，氢致能源 ...

近期，国资科创领域的新动作引起了市场高度关注。4月21日，力合科创发布公告表示，公司的控股股东 清研控股的上层股权结构变动有了最新进展，即深国资将持有的清研控股100%股权分别划转给深投控与 深智城各50%。此外，力合科创还同步披露了与清研院、深智城等多方签署的系列合作协议。4月23日晚 间，公司公告称该划转事项已完成工商变更。 这被认为是产业层面积极响应政策实践的重要举措。 今年政府工作报告提出，梯度培育创新型企业，促进专精特新中小企业发展壮大，支持独角兽企业、瞪 羚企业发展，让更多企业在新领域新赛道跑出加速度。 这背后意味着要更好地形成一个支持未来产业、新兴产业发展的产业发展模式，离不开产学研深度融 合。加上当前全球经济形势风云变幻，则进一步对产学研以及政府、金融的紧密合作"抱团"融合，提出 更急迫、更高的要求。 因此，力合科创此次公告无疑释放出相当积极信号。具体来看，有哪些值得挖掘的信息点？ 强化产学研深度融合路径，挖掘硬科技价值标的 此外，合作协议还提到，双方将通过多项举措来推动人工智能发展，重点投资孵化一批高成长人工智能 标杆企业。 过去力合科创和清研院打造的产学研深度融合的科技创新孵化体系已服务不 ...

证券代码：002243 证券简称：力合科创 | 上市公司名称： | 深圳市力合科创股份有限公司 | | --- | --- | | 股票上市地点： | 深圳证券交易所 | | 股票简称： | 力合科创 | | 股票代码： | 002243 | | 收购人名称： | 深圳市投资控股有限公司 | | 住所： | 深圳市深南中路4009号投资大厦18楼 | | 通讯地址： | 深圳市深南中路4009号投资大厦18楼 | 签署日期：二〇二五年四月 收购人声明 1、本报告书系依据《中华人民共和国证券法》《上市公司收购管理办法》 及《公开发行证券的公司信息披露内容与格式准则第16号——上市公司收购 报告书》及其它相关法律、法规和规范性文件的要求编写。 2、依据《中华人民共和国证券法》《上市公司收购管理办法》及《公开发 行证券的公司信息披露内容与格式准则第16号——上市公司收购报告书》的有 关规定，本报告书已全面披露了收购人在力合科创拥有权益的股份。截至本报告 书签署之日，除本报告书披露的持股信息外，收购人没有通过任何其他方式在力 合科创拥有权益。 6、本次收购涉及的相关事项已经深圳市国资委《深圳市国资委关于深圳 清研投资 ...

特此公告。 深圳市力合科创股份有限公司 深圳市力合科创股份有限公司董事会 关于控股股东上层股权结构发生变动的完成公告 2025 年 4 月 24 日 深圳市力合科创股份有限公司（以下简称"公司"）于 2025 年 4 月 22 日披 露了《关于控股股东上层股权结构拟发生变动的进展公告》（公告编号：2025-021 号），公司控股股东深圳清研投资控股有限公司（以下简称"清研控股"）的 100% 股权通过无偿划转方式由深圳市人民政府国有资产监督管理委员会（以下简称 "深圳市国资委"）划转至深圳市投资控股有限公司和深圳市智慧城市科技发展 集团有限公司分别持有 50%股权。 2025 年 4 月 23 日，公司收到清研控股通知，清研控股已完成工商变更。本 次变动不会导致公司直接控股股东和实际控制人发生变化，公司治理结构亦不会 发生变更；本次变动完成后，清研控股仍为公司直接控股股东，深圳市国资委仍 为公司实际控制人。敬请广大投资者理性投资，注意投资风险。 证券代码：002243 证券简称：力合科创 公告编号：2025-022 号 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大 ...