精锋医疗是医疗器械行业的先进手术机器人公司，致力于设计、开发及制造手术机器人。公司拥有三款 涵盖处于不同研发阶段的不同型号的产品及在研产品，以把握手术机器人的市场潜力，包括用于微创手 术的多孔腔镜手术机器人及单孔腔镜手术机器人以及用于无创手术的自然腔道手术机器人。 作为国内第三家上市的手术机器人企业，精锋医疗此次募资的基石投资者阵容十分豪华，囊括了阿布扎 比投资局、瑞银资产管理、奥博资本、腾讯等十余家全球顶级投资机构，以合计7500万美元的认购金 额，为这家手术机器人公司的价值前景投下了重量级信任票。 国产手术机器人龙头精锋医疗-B(2675.HK)明日在港挂牌上市，在今日富途的暗盘交易中，一度涨57% 至67.9港元；每手100股，不计手续费，一手赚2466港元。 本次IPO，精锋医疗全球发售2772.22万股，每股定价43.24港元。 ...

港股精锋医疗暗盘涨超45%，报63港元。精锋医疗成立于2017年，是医疗机械行业先进的手术机器人企 业。 ...

Group 1 - The core offering of the company includes advanced surgical robots designed for minimally invasive procedures, with a focus on market potential in the surgical robotics sector [1][2] - The company plans to issue 27.72 million H-shares at a price of HKD 43.24 per share, aiming to raise approximately HKD 1.2 billion, with a public offering accounting for 10% of the total shares [1] - The company has received significant interest, with a reported oversubscription of 398 times the public offering amount, indicating strong demand for its shares [1] Group 2 - The product lineup includes the Precision® Multi-Port Surgical Robot and the Precision® Single-Port Surgical Robot, both of which are designed for various surgical applications across urology, gynecology, and general surgery [2] - The company has secured cornerstone investment agreements totaling USD 75 million from notable investors, including Tencent and OrbiMed Genesis, which will support the share issuance [2] - The net proceeds from the global offering are expected to be approximately HKD 1.1166 billion, with allocations planned for R&D, commercialization, capacity expansion, and potential strategic acquisitions [3]

Group 1 - The company, 精锋医疗-B (02675), plans to conduct an IPO from December 30, 2025, to January 5, 2026, issuing 27.72 million H-shares at a price of HKD 43.24 per share, aiming to raise nearly HKD 1.2 billion [1] - The company is an advanced surgical robotics firm in the medical device industry, focusing on the design, development, and manufacturing of surgical robots, with products in various stages of research and development [1][2] - The company has received significant interest in its IPO, with a reported margin loan of HKD 478.7 billion and an oversubscription rate of 398 times for the public offering [1] Group 2 - The product portfolio includes two core self-developed products: the 精锋多孔腔镜手术机器人 (multi-port laparoscopic surgical robot) and the 精锋单孔腔镜手术机器人 (single-port laparoscopic surgical robot), along with a non-core product, the 精锋支气管镜机器人 (bronchoscopic robot) [2] - The company has established cornerstone investment agreements with several investors, including OrbiMed Genesis and Tencent, agreeing to subscribe for a total of USD 75 million worth of shares under certain conditions [2] - The net proceeds from the global offering are estimated to be approximately HKD 1.1166 billion, with allocations planned for R&D (42%), commercialization (20%), capacity expansion (10%), other products (8%), strategic acquisitions (10%), and working capital (10%) [3]

胰岛素板块有哪些核心标的及其出海进展？ 胰岛素板块的核心标的是甘李药业、联邦制药和通化东宝。国内市场经历了两 轮全国集采，整体节奏相对稳定，各公司通过基层医疗机构扩容、新产品推广 非药行业 2026 年度投资策略 20251231 摘要 胰岛素板块中，甘李药业、联邦制药和通化东宝是核心标的。甘李药业 的甘精胰岛素有望于 2026 年获得欧洲行政批件，并积极拓展欧美及亚 非拉市场。通化东宝通过江阳股份推进美国市场，预计 2026 年取得进 展。关注集采后各公司在基层医疗机构扩容和新产品推广的策略。 生物制品领域，血制品公司如劲宝、仁百预计 2026 年下半年迎来业绩 拐点，关注浆站规划和国企改革机会。疫苗方面，欧林生物专注于超级 细菌疫苗，康华生物重点开发 RSV 疫苗并已对外授权，康希诺亦值得关 注。 中药板块投资线索包括转型创新（关注九芝堂、以岭药业、华纳药厂 等），基药目录（关注冀川、贵州三力等潜在标的），以及 OTC 领域。 红利策略、政策落地后的估值炒作以及政策对业绩的带动情况是关键观 察点。 医疗器械板块，出海是关键增长点，蓝威、迈瑞新产业和开立等企业海 外收入占比已达 45%-60%，面临估值切换 ...

Company Overview - Jingfeng Medical, established in 2017, focuses on the research and development of surgical robots, aiming to design, develop, and manufacture surgical robots. The company currently has three products at different stages of development, including multi-port laparoscopic surgical robots, single-port laparoscopic surgical robots, and natural orifice surgical robots [8][21]. Product Pipeline - The product lineup includes two core products: Jingfeng's multi-port laparoscopic surgical robot and single-port laparoscopic surgical robot. The company has developed a comprehensive technology platform with seven core proprietary technology modules [8][24]. - The MP1000 is the first laparoscopic surgical robot approved for multiple surgical specialties, while the SP1000 is the first single-port laparoscopic surgical robot approved by the National Medical Products Administration (NMPA) for gynecological surgeries [21][22]. Market Size - The global surgical robot market is projected to grow significantly, with a compound annual growth rate (CAGR) of 18.9% from 2019 to 2024, 12.0% from 2024 to 2030, and 22.4% from 2030 to 2033. The market size is expected to reach approximately $84.19 billion by 2033 [15][19]. Industry Position - Jingfeng Medical has achieved significant milestones, including obtaining NMPA approval for the MP1000 in December 2022 and expanding its application range to gynecology, general surgery, and thoracic surgery by August 2023. The company has also received approval for the upgraded MP1000 Plus model in October 2023 [21][22]. - As of the latest available data, over 12,000 robotic-assisted clinical surgeries in China have been performed using the company's multi-port laparoscopic surgical robot, and over 2,000 surgeries using the single-port laparoscopic surgical robot [23][24]. Financial Data - The total revenue for the company is projected to be 1.60 billion RMB in 2023, with forecasts of 1.49 billion RMB in 2024 and 0.48 billion RMB by June 30, 2025. The financial figures indicate a growing trend in revenue generation [37][38].

12月30日，医药方向走弱。相关ETF方面，恒生沪港深创新药精选50指数盘中跌0.56%。成分股中，甘 李药业、皓元医药、君实生物-U等涨幅居前，百济神州、药明康德、凯莱英等走低。 创新药ETF天弘（517380）跟踪恒生沪港深创新药精选50指数，汇聚中国硬核创新药力量、新质生产力 代表，全面覆盖临床前研究至商业化全产业链，一键布局A股+港股创新药及CXO龙头企业。Wind数据 显示，截至12月29日，创新药ETF天弘（517380）最新基金份额18.48亿份，最新规模13.81亿元，年初 至今份额增超308%。 消息面上，据智通财经，12月29日，华东医药对外宣布称，12月26日，全资子公司杭州中美华东制药有 限公司收到农业农村部发出的《受理通知书》，HDM7006项目普瑞泊肽注射液一类新兽药上市注册申 请获得受理，申报适应证为成年肥胖猫的体重管理。 信达证券认为，春季行情即将启动，建议关注医药新兴产业方向，如脑机接口、手术机器人及AI应 用，长期来看，创新和出海仍是医疗投资主线，建议关注高端医械及创新药产业链。 华西证券指出，当前产业趋势明显，创新药产业链是2026年医药板块主线。具体看好两条线：海外需求 ...

Group 1 - The company, Jingfeng Medical, has launched an IPO with a global offering of 27.7222 million shares, including 2.7723 million shares for Hong Kong and 24.9499 million shares for international placement, along with an over-allotment option of 4.1583 million shares [1] - The share price is set at HKD 43.24, with expected fundraising of HKD 1.1166 billion if the over-allotment option is not exercised, and up to HKD 1.2892 billion if it is exercised [1] - The company is focused on the surgical robotics sector, having developed multiple models of surgical robots for minimally invasive and non-invasive surgeries since its establishment in 2017 [1] Group 2 - Jingfeng Medical's core products, the Jingfeng® multi-port and single-port surgical robots, commenced commercialization in December 2022 and December 2024, respectively, with 61 global sales agreements signed by June 30, 2025 [2] - The company has completed over 12,000 robotic-assisted clinical surgeries using the multi-port robot and over 2,000 using the single-port robot [2] - Financial data shows revenues of CNY 48.042 million for 2023, CNY 160 million for 2024, and CNY 149 million for the first half of 2025, with a nearly fourfold increase in revenue for the first half of 2025 compared to the same period in 2024 [2] - The gross profit for the first half of 2025 was CNY 93.85 million, representing a year-on-year growth of nearly 390%, making it the industry leader [2] - The company has received support from notable investors aligned with its vision for surgical robotics, including Abu Dhabi Investment Authority, UBS Asset Management, Tencent, and others [2]

Group 1 - The company plans to globally offer 27.72 million H-shares, with 2.77 million shares available in Hong Kong and 24.95 million shares for international offering, subject to reallocation and the exercise of the over-allotment option [1] - The offering price is set at HKD 43.24 per share, with a trading unit of 100 shares, and the shares are expected to start trading on January 8, 2026 [1] - The company was established in 2017 and specializes in advanced surgical robots, focusing on the design, development, and manufacturing of surgical robots [2] Group 2 - The company has entered into cornerstone investment agreements, with cornerstone investors agreeing to subscribe for a total of USD 75 million (approximately HKD 583.5 million) of the offered shares [3] - The cornerstone investors include notable entities such as Abu Dhabi Investment Authority, UBS Asset Management, and Tencent Holdings [3] - Assuming no exercise of the over-allotment option and a share price of HKD 43.24, the net proceeds from the global offering are estimated to be approximately HKD 1.1166 billion [4] Group 3 - The company plans to allocate the net proceeds as follows: approximately 23% for the development of the multi-port laparoscopic surgical robot, 19% for the single-port laparoscopic surgical robot, and 20% for the commercialization of core products [4] - Additionally, about 10% will be used to expand production capacity, 8% for other products and in-development products, and 10% for potential strategic acquisitions, investments, or collaborations in the surgical robot industry [4] - The remaining 10% will be allocated for working capital and general corporate purposes [4]

Group 1 - The company, 精锋医疗-B, plans to conduct an initial public offering (IPO) from December 30, 2025, to January 5, 2026, offering 27.72 million H-shares at a price of HKD 43.24 per share, with 10% allocated for Hong Kong and 90% for international sales [1] - The company specializes in advanced surgical robots, having developed products for minimally invasive and non-invasive surgeries, including the 精锋® multi-port laparoscopic surgical robot and the 精锋® single-port laparoscopic surgical robot [1] - The company has reported revenue growth from RMB 48 million in 2023 to RMB 160 million in 2024, with sales costs increasing from RMB 19.6 million to RMB 61.9 million during the same period [2] Group 2 - The company has not achieved profitability, recording net losses of RMB 213 million, RMB 218.5 million, RMB 133 million, and RMB 89.1 million for the years ending December 31, 2023, and 2024, and for the six months ending June 30, 2024, and 2025, respectively, primarily due to R&D expenses [2] - The company anticipates fluctuations in losses as it continues R&D, seeks regulatory approvals, and commercializes its products, with financial performance expected to vary due to uncertainties in clinical trials and commercialization success [3] - The company has secured cornerstone investment agreements totaling USD 75 million from various investors, including OrbiMed Genesis and Tencent, under certain conditions [3] Group 3 - The net proceeds from the global offering are estimated to be approximately HKD 1.1166 billion, with allocations of 42% for ongoing and planned R&D of core products, 20% for commercialization, 10% for capacity expansion, 8% for other products, and 10% for potential strategic acquisitions or investments in the surgical robot industry [4]