四星玻璃完成数亿元Pre-IPO轮融资，实现生物医药产业上游里程碑式发展

Core Viewpoint - The article highlights the successful domestic production technology for pre-filled syringes, marking a significant step towards import substitution in the pharmaceutical packaging industry, particularly in the production of borosilicate glass [2][5]. Group 1: Company Overview - Cangzhou Sihang Glass Co., Ltd. is a leading manufacturer of pharmaceutical borosilicate glass, recently completing a multi-billion Pre-IPO financing round, which is one of the largest in the upstream biopharmaceutical sector in recent years [2]. - The company utilizes innovative all-electric melting technology to produce neutral borosilicate glass tubes, leading the industry with a 20-year technological advantage over international peers [2][5]. - Sihang Glass has established a stable production capacity for borosilicate glass tubes that meet international quality standards and has over 700 stable downstream pharmaceutical clients [5][6]. Group 2: Industry Context - Borosilicate glass is a critical packaging material for injectable drugs and biopharmaceuticals, with its core technology historically monopolized by companies in Germany, the USA, and Japan, which has hindered the sustainable development of China's pharmaceutical industry [5][6]. - The company’s advancements in borosilicate glass production have transformed the industry from high-energy, high-pollution practices to a greener, more sustainable model, contributing to national drug safety and the high-quality development of the pharmaceutical sector [5][6]. Group 3: Market Potential - The global market for borosilicate glass for pharmaceuticals exceeds 50 billion, with an annual growth rate of 30% driven by the increasing demand for biopharmaceuticals, vaccines, and aesthetic injections [8]. - The company plans to establish an integrated pharmaceutical manufacturing base in Yunnan, leveraging low electricity costs to reduce production costs by over 30%, targeting a market of 2.5 billion people in South and Southeast Asia [8]. Group 4: Future Outlook - The company aims to continue its focus on innovation, smart manufacturing, and green energy to promote high-quality and sustainable industry development during the 14th Five-Year Plan period [6]. - The second growth curve for Sihang Glass is expected to come from its pre-filled syringe and integrated CMPO manufacturing services, which are anticipated to significantly contribute to future revenue growth [5][7].