科创成长层迎新，首批新注册股票进入倒计时

Core Points - The first batch of new registered stocks is entering the Sci-Tech Innovation Growth Layer, including companies like He Yuan Bio, Xi'an Yicai, and Bibet, which are currently issuing and preparing for listing [1][2] - The issuance prices for these companies are 29.06 CNY/share, 8.62 CNY/share, and 17.78 CNY/share, raising approximately 25.99 billion CNY, 46.36 billion CNY, and 16 billion CNY respectively [1][2] - As of now, 32 unprofitable listed companies have entered the growth layer, with a total loss reduction of 71.23 billion CNY in the first half of 2025 [1][6] Company Summaries - He Yuan Bio, which applied for listing under the fifth set of standards, has projected revenues of 13.40 million CNY in 2022, 24.26 million CNY in 2023, and 25.22 million CNY in 2024, with net losses of 144 million CNY, 187 million CNY, and 151 million CNY respectively [2][3] - Bibet, also a biopharmaceutical company, has not yet achieved drug approval or sales revenue, with projected net losses of 188 million CNY, 173 million CNY, and 55.99 million CNY from 2022 to 2025 [3] - Xi'an Yicai, a silicon wafer company, has reported revenues of 1.05 billion CNY, 1.47 billion CNY, and 2.12 billion CNY from 2022 to 2025, with net losses of 412 million CNY, 578 million CNY, and 738 million CNY respectively [3] Industry Insights - The growth layer companies are primarily distributed across new-generation information technology (15 companies), biomedicine (14 companies), new energy (2 companies), and high-end equipment manufacturing (1 company) [4] - The revenue growth rate for growth layer companies has averaged 27.87% annually since 2019, outperforming the overall sector by nearly 4 percentage points [6][7] - In 2024, the total R&D investment of 32 growth layer companies reached 30.6 billion CNY, with a median R&D investment to revenue ratio of 65.40%, leading the Sci-Tech Innovation Board [7]