重启后首家，IPO过会！科创板第五套标准企业来了

Core Viewpoint - The approval of Wuhan Heyuan Biotechnology Co., Ltd. for IPO marks the first successful case under the restarted fifth listing standard of the Sci-Tech Innovation Board, reflecting the regulatory support for innovative technology companies [1][2]. Group 1: Company Overview - Wuhan Heyuan Biotechnology, established in 2006, focuses on the blue ocean market of "recombinant human albumin" and is expected to launch its core product, HY1001, soon after completing Phase III clinical trials [1]. - Currently, Heyuan's revenue primarily comes from pharmaceutical excipients and research reagents, with its core innovative drug still in development and not yet generating income, leading to a loss [2]. Group 2: Industry Context - As of now, 20 companies have utilized the fifth listing standard on the Sci-Tech Innovation Board, with 19 being innovative drug development firms and 1 in high-end medical device development [2]. - In 2024, these 20 companies are projected to achieve a combined revenue exceeding 14 billion yuan, representing a growth of over 40% compared to 2023, with 16 companies generating over 100 million yuan in revenue [2]. - By the first quarter of 2025, these companies continued to show growth, achieving a total revenue of 3.78 billion yuan, a year-on-year increase of 29.27% [2]. Group 3: Regulatory Environment - The implementation of the "1+6" policy measures for the Sci-Tech Innovation Board aims to enhance inclusivity and adaptability in the regulatory framework, promoting deeper integration of technological and industrial innovation [3]. - The pace of IPO applications has accelerated, with over 30 applications received in the first half of the year, of which more than 70% are from the Sci-Tech Innovation Board, facilitating a positive cycle among technology, capital, and industry [3].