点击免费限量礼盒 特别提示 微信机制调整，点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的推送。 近日，中国科协生命科学学会联合体开展年度"中国生命科学十大进展"评选， 最终确定6个知识创新类和4个技术创新类项目成果为2025年 度"中国生命科学十大进展"。 中国科协生命科学学会联合体自2015年起开展年度"中国生命科学十大进展"评选工作， 旨在推动生命科学研究和技术创新，充分展示和宣传 我国生命科学领域的重大科技成果。目前评选活动已连续开展11个年度。 本年度入选项目均面向生命科学前沿和人民生命健康，聚焦本领域的热点和难题，创新性强、覆盖面广。一起来看看都有哪些吧→ 鼻咽癌免疫治疗增效减毒新策略 晚期鼻咽癌标准治疗是放疗联合化疗，然而仍有 20%-30% 的患者治疗后发生复发转移。鼻咽癌肿瘤中有大量免疫细胞浸润，提示适合免疫 治疗。 中山大学肿瘤防治中心孙颖、马骏团队通过一系列国际公认的前瞻性、多中心、平行对照临床试验，在鼻咽癌增效方面，证实放疗后使用 PD- 1 单抗辅助免疫治疗，将失败风险降低了 44% ，生存率由 77.3% 提高到 86.9% ；在减毒方面，研制 ...

12月4日，华熙生物举办2025年第三季度业绩说明会。会上有投资者询问，"赵董今年重回一线后能否扭 转公司经营的颓势，实现经营业绩止跌回升？" 对此，华熙生物方面回复，2025年3月份以来，公司董事长兼总经理带领管理团队重回业务一线、重返 创业状态，持续对经营理念、业务方向及人才组织模式进行系统性调整，推动经营质效持续显著改善。 还有投资者就股价下跌进行询问。对此，华熙生物方面回应，公司管理层高度重视股东利益，始终致力 于通过稳健经营和持续创新为股东创造长期价值。二级市场股价受外部环境、行业政策变化、市场情绪 波动、资金面偏好等多重复杂因素综合影响，存在短期波动性。 公司以合成生物制造能力为基础， 构建 "原料-终端产品" 一体化业务布局， 聚焦衰老干预领域，提供 涵盖医药、医美、营养科学、皮肤科学的整合解决方案，围绕生命科学核心物质拓展产业生态，推 动"中国制造"向"中国前沿研发+中国品牌"升级。 无论是医美还是功能性护肤，核心本质都在于生命科学对衰老机制的理解及其干预手段的探索。在多组 学交叉、多靶点、全链路协同成为行业趋势的背景下，华熙生物的增长点正来源于这一整合能力。 公司从三个方向展开布局：一是细胞 ...

Core Viewpoint - Huaxi Bio's nutrition science segment has achieved a breakthrough, maintaining revenue growth while achieving quarterly profitability for the first time in Q3 [1] Short-term Outlook - Business recovery and expansion are expected in the short term, with skin science innovation and transformation business anticipated to continue adjustments, leading to gradual revenue recovery [1] - The raw materials business, leveraging commercialized synthetic biological new materials like PDRN and PQQ, is expected to achieve steady growth and become a significant growth engine for the company [1] Long-term Strategy - The company focuses on aging intervention, building an integrated solution covering raw materials, medical aesthetics, skincare, and nutrition, based on its leading synthetic biological manufacturing capabilities [1] - The business ecosystem is designed to enhance the company's cutting-edge R&D influence and drive brand value enhancement [1] Financial Projections - The expected EPS for the company from 2025 to 2027 is projected to be 0.81, 1.08, and 1.30 yuan respectively, maintaining a "buy" rating [1]

Group 1: Fixed Income - The manufacturing PMI for November shows a slowdown in contraction, with the index rising to 49.2%, an increase of 0.2 percentage points from the previous month, indicating a slight improvement in production and demand [7][8] - The non-manufacturing business activity index fell to 49.5%, a decrease of 0.6 percentage points, suggesting that the service sector has entered a contraction phase [7][11] - The construction industry has remained below the growth line for four consecutive months, necessitating further economic stabilization policies [7][11] Group 2: Real Estate - The sales revenue of the top 100 real estate companies in November decreased by 36.8% year-on-year and 11.7% month-on-month, indicating a significant decline as the market enters a sales lull [14][15] - The sales area for the top 100 companies also saw a year-on-year decline of 35.8%, although the rate of decline has lessened compared to previous months [14][15] - There is an increasing expectation for policy easing as the market shows signs of weakness, suggesting potential investment opportunities in the sector [14][16] Group 3: Pharmaceutical and Biotechnology - The company Huaren Sanjiu (000999.SZ) reported a revenue of 21.986 billion yuan for the first three quarters, a year-on-year increase of 11.38%, with a net profit of 2.353 billion yuan, reflecting a decline of 20.51% [18][19] - The company is focusing on both internal and external growth strategies, particularly in the consumer health sector, and is expected to achieve net profits of 3.295 billion yuan, 3.843 billion yuan, and 4.268 billion yuan for 2025, 2026, and 2027 respectively [19][20] - The company has a strong brand value and advantages in traditional Chinese medicine, which supports its growth potential [19][20] Group 4: Beauty and Personal Care - Huaxi Biological (688363.SH) reported a revenue of 3.163 billion yuan for the first three quarters, a year-on-year decrease of 18.36%, primarily due to a strategic contraction in its skin science innovation business [21][22] - The company is optimizing its business structure, with a focus on high-margin pharmaceutical-grade raw materials, which has led to an overall gross margin of 70.68% [22][23] - The company is expected to see a recovery in its skin science business and growth in its raw materials segment, driven by new synthetic biological materials [23]

Core Insights - The company is actively adjusting its operations and organizational structure to enhance its long-term competitiveness through technological innovation, focusing on synthetic biology as a core strategic direction [1][2][4] - The company has seen a profit growth of 55.63% year-on-year in Q3 2025, indicating the effectiveness of its reform measures [2] - The company aims to build a comprehensive ecosystem for its C-end business, which is crucial for validating technological innovations and meeting consumer needs [3][4] Group 1: Strategic Adjustments and Financial Performance - The company has implemented strategic adjustments that have led to a profit growth of 55.63% in Q3 2025, with a net profit of 0.32 billion and revenue of 9.03 billion [2] - The adjustments have resulted in a decrease in sales expense ratio to 34.26%, the lowest in five years, demonstrating effective cost control [3] - The company is focusing on C-end business as a key area for adjustment, emphasizing the need to understand consumer demands for resource allocation [2][3] Group 2: Research and Development Focus - The company is concentrating on glycoscience and cell biology, aiming to provide systematic solutions for delaying aging [4][5] - The synthetic biology system is supported by two core platforms: a biocatalyst library and a pilot transformation platform, which facilitate rapid development and industrialization of new molecules [5][6] - The company has developed a comprehensive research and transformation platform that integrates scientific research, pilot verification, and industrial application [4][5] Group 3: Pilot Platform and AI Integration - The pilot platform is a critical infrastructure for validating and scaling new materials, enabling the transition from laboratory research to market-ready products [7][8] - The company has invested in a pilot transformation platform in Tianjin, equipped with fermentation systems and production lines to support the scaling of biomanufacturing [7][8] - The integration of AI is aimed at enhancing the efficiency of the pilot platform, although the primary role remains with the scientific and engineering systems [7][9] Group 4: Future Directions and Industry Impact - The company plans to deepen its "pilot foundation, AI efficiency" model to solidify its position in the biomanufacturing sector [9] - The open and shared mechanism of the pilot platform is becoming a vital part of China's technological innovation system, supporting both the company's growth and the broader industry ecosystem [8][9] - The company aims to create an open, efficient, and sustainable synthetic biology innovation platform to drive future growth [6][9]

Core Viewpoint - The company is actively adjusting its operations and organizational structure to enhance its long-term competitiveness in the synthetic biology sector, focusing on high-quality development paths in the biomanufacturing industry [1][2]. Group 1: Strategic Adjustments and Financial Performance - The company has seen a profit growth trend, with a net profit of 0.32 billion yuan in Q3 2025, representing a year-on-year increase of 55.63%, and revenue of 9.03 billion yuan, indicating continuous improvement over two consecutive quarters [1]. - The decline in revenue during the first three quarters was primarily due to a decrease in skin science innovation conversion business, which is viewed as a temporary outcome of the ongoing adjustments [2]. - The company has reduced ineffective spending and adjusted its evaluation system, resulting in a sales expense ratio of 34.26%, the lowest in five years, while still achieving approximately 55% profit growth year-on-year [3]. Group 2: Focus on C-end Business and Ecosystem Development - The C-end business is a key focus of the company's adjustments, emphasizing the need to accurately define brand positioning and target demographics to create real value for consumers [2]. - The company is accelerating the construction of an ecosystem that fosters mutual growth with users, platforms, and partners to solidify the foundation for C-end business development [2]. Group 3: Synthetic Biology and Technological Innovation - The company is centered on synthetic biology, particularly in glycomics, aiming to provide systematic solutions for delaying aging [4]. - The synthetic biology system is supported by two core platforms: a biocatalyst library and a pilot transformation platform, which facilitate rapid new molecule screening and scale-up verification [4][8]. - The company has achieved significant technological advancements, such as the precise synthesis of heparin through a fully enzymatic method, moving towards "green biomanufacturing" [4]. Group 4: Pilot Testing and AI Integration - The pilot platform is crucial for connecting research, validation, and transformation, serving as a key facility for technology maturity verification and data model accumulation [8]. - The company has invested in a synthetic biology pilot transformation platform equipped with fermentation systems and production lines to support core functions like mechanism verification and process standardization [7][8]. - The open and shared mechanism of the pilot platform is becoming an essential part of the national innovation system, supporting both the company's growth and the broader industry ecosystem [8][9].

Core Insights - The article discusses the introduction of Restorin, an oral aging inhibitor developed by a joint venture between China National Pharmaceutical Group (Sinopharm) and Seragon, which has gained significant attention from consumers, particularly high-net-worth individuals [1][2]. Group 1: Product Overview - Restorin is sold in units of 120 capsules at approximately 2000 yuan, with a monthly cost of 2000-3000 yuan based on a recommended dosage of 4 to 6 capsules per day [1]. - The product has achieved cumulative sales of over 10,000 units on Tmall, indicating a strong demand for scientifically-backed health and longevity products [1]. Group 2: Research and Development - The technology behind Restorin originates from SRN-901, a candidate drug developed in collaboration with Harvard University and the Mayo Clinic, which has shown a record lifespan extension of 33.02% in experimental animals [1][3]. - Seragon, established in 2009, initially focused on hormone-related cancer drug development and has since expanded its research to include aging-related molecular mechanisms [3]. Group 3: Scientific Basis - SRN-901 integrates advanced aging intervention technologies, including mTOR pathway inhibition and cellular autophagy activation, which have been scientifically validated to have lifespan-extending effects [4][5]. - The mTOR pathway's activity increases with age, and its regulation has been shown to effectively delay aging in animal models [5]. Group 4: Challenges in Longevity Research - Longevity research often halts at animal studies due to the long lifespan of primates and the ethical and practical challenges of conducting long-term human trials [6][7]. - Mouse models are commonly used in aging research due to their genetic similarity to humans, but the costs and duration of such studies can be substantial, often exceeding millions of dollars [8]. Group 5: Market Perception - Despite advancements in aging intervention technologies, skepticism remains among the public, largely due to past experiences with misleading health products [9]. - The article emphasizes that those who embrace emerging longevity technologies may gain significant advantages in the future [10].

Core Viewpoint - The announcement of shareholder Guoshou Chengda's plan to reduce its stake in Huaxi Biological is a normal exit within the investment cycle, while the controlling shareholder Huaxi Xinyu's counter-cyclical increase in holdings reflects confidence in the company's long-term value and core capabilities [1][2]. Group 1: Shareholder Actions - Guoshou Chengda plans to reduce its holdings in Huaxi Biological by up to 9.6336 million shares, representing no more than 2% of the total share capital, from November 26, 2025, to February 23, 2026 [1]. - As of the announcement date, Guoshou Chengda holds 28.9365 million shares, accounting for 6.01% of the total share capital [1]. - After the reduction, Guoshou Chengda's stake will fall below 5%, eliminating its status as a related party, which may allow for renewed investment from insurance and asset management funds [1]. Group 2: Company Performance and Strategy - Huaxi Xinyu, the controlling shareholder, increased its stake by approximately 4.519 million shares for a total amount of 257 million yuan, raising its ownership to 60.11% [2]. - The increase in holdings is seen as a strong endorsement of the company's core value amid intensified competition in the medical aesthetics industry [2]. - Huaxi Biological has established a comprehensive ecosystem in the ECM field, focusing on synthetic biology manufacturing, which supports its competitive edge in technology transformation [2]. Group 3: Industry Context and Development - Huaxi Biological's development path exemplifies the upgrade of China's manufacturing industry, transitioning from raw material processing to becoming a global leader in hyaluronic acid [3]. - The company is shifting from product competition to technology competition in the medical aesthetics sector, leveraging its synthetic biology platform and ECM technology [3]. - The balance between the orderly exit of institutional shareholders and the continued increase in holdings by the controlling shareholder is expected to optimize the company's equity structure and enhance market liquidity [3].

Core Viewpoint - The orderly exit of institutional shareholders and the continuous increase in holdings by the controlling shareholder create a positive balance, optimizing the company's equity structure and enhancing market liquidity and capital stability, which is favorable for long-term investors [2] Group 1: Shareholder Actions - Guoshou Chengda plans to reduce its stake in Huaxi Biological by up to 2% of the total share capital between November 24, 2025, and February 20, 2026, as part of a normal exit within the fund's investment cycle [1] - After the reduction, Guoshou Chengda's shareholding will fall below 5%, no longer constituting a related party relationship, potentially allowing insurance and asset management funds to reinvest in Huaxi Biological [1] - The controlling shareholder, Huaxi Xinyu Investment Co., completed an increase in holdings by acquiring approximately 4.519 million shares for about 257 million yuan, raising its stake to 60.11% [1] Group 2: Business Strategy and Market Position - Huaxi Biological focuses on synthetic biology manufacturing, establishing an integrated business layout in the field of aging intervention, providing comprehensive solutions across pharmaceuticals, medical aesthetics, nutritional science, and dermatology [2] - The company is one of the few globally that has a comprehensive layout in the ECM (extracellular matrix) field, with a core research direction centered on the overall synergy of ECM key substances [2] - Huaxi Biological's growth stems from its ability to integrate various scientific dimensions, forming a complete layout in life-active substances, medical aesthetics, functional skincare, and oral nutrition [3] Group 3: Innovation and Development - The company exemplifies the transition of Chinese manufacturing enterprises towards foundational research and brand transformation, leveraging technological innovation to drive industry iteration [4] - Huaxi Biological has become a global leader in hyaluronic acid production, transitioning from animal extraction to microbial fermentation, significantly reducing costs while improving quality and stability [4] - The profits generated are reinvested into foundational and applied research, opening doors to cell biology and glycoscience, and positioning the company for success in technological innovation and brand building [4]

Core Viewpoint - The company reported a net profit of 32 million yuan for Q3 2025, representing a year-on-year increase of 55.63%, while operating revenue decreased by 15.16% to 903 million yuan, indicating a trend of profit recovery and improved operational quality [5][6][13] Financial Performance - The company achieved a net profit of 0.32 billion yuan in Q3 2025, a 55.63% increase year-on-year [5] - Operating revenue for the same period was 9.03 billion yuan, down 15.16% compared to the previous year [5] - The sales expense ratio decreased to 34.26%, the lowest level in five years, due to optimized brand communication and channel structure [5] - Net cash flow from operating activities increased by 859% year-on-year, indicating significant improvement in core financial metrics [5] Business Strategy - The company is focusing on an integrated business layout from "raw materials to end products," particularly in the field of aging intervention, providing comprehensive solutions across pharmaceuticals, medical aesthetics, nutritional science, and dermatology [6][7] - The core business, which includes raw materials and medical terminal operations, accounts for approximately 60% of total revenue, showing stable development [6] - The company is enhancing its brand communication and market strategies to align with its research attributes, particularly in the skin science innovation sector [6] Asset Impairment - The company recognized credit impairment losses of 17.54 million yuan due to provisions for bad debts and inventory write-downs in Q3 2025 [11][12] - The total provision for bad debts amounted to 14.08 million yuan, representing 20.38% of the accounts receivable balance [12] - The inventory write-down provision was 5.71 million yuan, accounting for 3.56% of the inventory balance [12][13]