第五套标准重启！募资额缩水约11亿元，禾元生物上会胜算几何

Group 1 - The first company to be reviewed under the restarted fifth set of standards for the Sci-Tech Innovation Board is Wuhan Heyuan Biotechnology Co., Ltd. (Heyuan Bio) [1][3] - Heyuan Bio is an innovative biopharmaceutical company known for its "rice-derived blood" technology and has established a unique plant expression system and two technical platforms [3][4] - The company has adjusted its fundraising target down by approximately 1.1 billion yuan, from an initial 3.502 billion yuan to 2.4 billion yuan, due to steady progress in R&D and business operations [5][6] Group 2 - Heyuan Bio's asset-liability ratio is projected to increase significantly in 2024, with ratios of 18.81%, 23.96%, and 43.37% for the years 2022 to 2024 respectively [6][7] - The company has not yet achieved profitability, with reported revenues of approximately 13.4 million yuan, 24.3 million yuan, and 25.2 million yuan for the years 2022 to 2024, and net losses of approximately 144 million yuan, 187 million yuan, and 151 million yuan for the same period [7] - Heyuan Bio's core product, HY1001, is expected to be approved for market launch soon, having completed its Phase III clinical trials with promising results [7][8] Group 3 - The recent policy changes by the China Securities Regulatory Commission aim to enhance the inclusivity and adaptability of the Sci-Tech Innovation Board, facilitating the listing of unprofitable companies [4] - Other companies currently in the review process under the fifth set of standards include Beixin Life, Hengrun Da, Sizherui, and Bibete, with some making faster progress than others [8][9]