12月26日，中国证监会公布《境外发行上市备案补充材料要求(2025年12月22日—2025年12月26日)》。 中国证监会国际司公示19家企业补充材料要求，其中，要求海纳医药补充说明募集资金具体用途，境内 外用途占比情况等事项。据悉，海纳医药已于2025年11月7日递表港交所，中金公司（601995）为独家 保荐人。 四、请说明公司及下属公司通过第三方代缴以及未足额缴纳社会保险和住房公积金的具体情况；未完结 诉讼仲裁案件的最新进展，是否构成本次境外发行上市的实质性障碍。 五、请说明募集资金具体用途，境内外用途占比情况，以及履行境内外投资审批、核准或备案程序情 况。 六、请说明本次拟参与"全流通"股东所持股份是否存在被质押、冻结或其他权利瑕疵的情形。 招股书显示，海纳医药是一家医药研发与制造一体化公司，提供CXO服务；同时，公司拥有专有产品 管线，主要通过医药技术转让对该等管线进行商业化。根据弗若斯特沙利文报告，于往绩记录期间及直 至最后实际可行日期(2025年11月2日)，海纳医药于中国境内从事药物技术转移的CXO服务提供商中， 按获批临床试验及上市许可总数排名第二。根据同一来源，海纳医药于同期提交的临床试 ...

证券日报网12月25日讯 ，联环药业（600513）在接受投资者提问时表示，公司坚持围绕主业推进并 购，遵循"不偏离主业、形成协同效应"的核心逻辑。未来，对于符合战略的优质标的，公司将持续推进 合作。资本运作方面，目前公司资金状况可控，能够支撑现有研发及业务需求，若后续创新药项目推进 至中后期导致资金需求扩大，不排除采用再融资手段。关于港股上市，公司目前尚未有相关规划，但会 结合业务发展和资本市场环境综合评估。此外，公司已调入沪股通，将进一步优化股权结构、提升股票 流动性。 ...

每经AI快讯，有投资者在投资者互动平台提问：目前塞尔维亚产能铺设情况，还剩下多少产能建设？ 明年是否能够将产能利用率提高到百分之90？目前塞尔维亚的产能利用率？塞尔维亚工厂四季度能否扭 亏为盈？公司港股什么时候才能发行上市？ 玲珑轮胎（601966.SH）12月24日在投资者互动平台表示，1、截至目前，塞尔维亚玲珑1200万条半 钢、240万条全钢产线已铺设完成，正在进行新增产线的系统对接和调试工作。预计明年上半年实现满 产目标。2、截至2025年11月末，塞尔维亚玲珑半钢和全钢产能爬坡已分别达到实际规划产能的75%和 50%。3、塞尔维亚玲珑具体盈利情况敬请关注公司后续发布的2025年年度报告。4、公司港股项目还在 中证监备案审核阶段，同时公司管理层也正在综合考虑市场环境变化和投资者意见及建议，后续进展敬 请关注公司相关公告。 （文章来源：每日经济新闻） ...

近日，证监会对深圳市汉森软件股份有限公司(简称"汉森软件"或"公司")赴港IPO要求其就募集资金用途、本次境外发行及"全流通"前后内资股及H股的占 比等事项进行补充说明。 具体来看，证监会请公司补充说明以下事项，请律师核查并出具明确的法律意见： 一、关于你公司本次发行方案的发行数量上限，你公司备案报告与招股说明书应保持一致，如存在不一致情形，请提供修改后的备案报告或招股说明书， 如果涉及招股说明书调增本次发行数量和募集资金规模，请一并更新募集资金使用计划。 二、请详细说明你公司募集资金用途，是否涉及境外投资、是否已履行相关审批、核准或备案程序。 三、请补充说明你公司本次境外发行及"全流通"前后内资股及H股的占比。 四、请补充说明本次拟参与"全流通"股东所持股份是否存在被质押、冻结或其他权利瑕疵的情形。 资料显示，汉森软件成立于2006年，是一家全链条数字打印解决方案供货商，主要提供打印控制系统、打印基础设施及打印创新服务。汉森软件曾于2023 年10月开启A股上市指导，又于2025年7月终止指导协议。今年10月30日，公司递交上市申请文件，拟在港交所上市。 业绩方面，2022年—2024年，汉森软件净利润分别 ...

有接近丸美生物的人士告诉经济观察报，缺少对高管的激励措 施或为管理层流动的原因之一。 作者：罗文利 封图：图虫创意 广东丸美生物技术股份有限公司（下称"丸美生物"）密集迎来了多个关键节点。 近日，丸美生物迎来了新的联席CEO——吴梦。吴梦是上海自然堂集团有限公司原副总裁，曾是 自然堂线上业务发展的关键人物。12月12日，丸美生物旗下审计监察部官方微信公众号"廉洁丸 美"发布的文章显示了该职位的变化，吴梦以丸美生物联席CEO身份参与其反腐败合规专题培训并 发言。 此前，其创始人孙怀庆之子孙云起进入董事会；业务端，该公司计划优化线上渠道、提高运营效 率；资本市场上，已登陆A股的丸美生物正推进港股上市。 丸美生物是成立于2002年的国货美妆品牌，专注于眼部护理和抗衰领域，旗下主品牌为"丸 美"和"恋火"，二者对该公司的营收贡献超99%。"弹弹弹，弹走鱼尾纹"的广告词也家喻户晓。 据了解，吴梦曾先后担任伽蓝集团（自然堂曾用名）电子商务事业部总经理、春夏品牌事业部总经 理、营销副总裁、零售总裁等职务。今年10月，有市场消息称吴梦已从自然堂离职。在自然堂供 职时，吴梦曾被行业内称为"深耕线上的大将""长期执掌电商业务的负 ...

Core Viewpoint - The article discusses the upcoming listing of New Zobang on the Hong Kong Stock Exchange and highlights the company's significant achievements and strategic positioning within the lithium battery and new materials industry [2][4]. Group 1: Company Overview - New Zobang, established in 1996 and headquartered in Shenzhen, is set to list on the Hong Kong Stock Exchange, with a market capitalization of 35.909 billion as of December 12, 2025 [2]. - The company has developed a product system covering four core business segments: battery chemicals, organic fluorine chemicals, capacitor chemicals, and semiconductor chemicals, serving key industries such as new energy vehicles, photovoltaic energy storage, consumer electronics, and digital infrastructure [2]. Group 2: Industry Position and Achievements - New Zobang's capacitor chemicals were recognized as a national-level manufacturing champion product in November 2021, and its lithium-ion battery electrolyte was similarly recognized in 2023, making it a dual national champion [3]. - The company ranks among the top three globally in electronic fluorinated liquids and has achieved a self-supply ratio of 50%-70% for lithium hexafluorophosphate production through its subsidiary [3][4]. Group 3: Strategic Developments - A significant project in Huizhou, with an investment of 1.16 billion, is set to produce 200,000 tons of battery chemicals annually, expected to meet 10% of the domestic electrolyte market demand and generate an additional annual output value of 3.5 billion [4]. - The trend of lithium battery companies listing in Hong Kong is highlighted, with over 15 companies initiating IPOs, reflecting a diverse range of listing strategies [4][5]. Group 4: Market Dynamics - The article notes that the expansion of lithium battery capacity in the domestic market has intensified competition, leading companies to seek financing through Hong Kong listings [5]. - The demand for new energy vehicles and energy storage in overseas markets is strong, while trade barriers complicate international expansion, making Hong Kong a strategic location for fundraising to support local operations [5].

文丨李壮 编辑丨承承 随着纳芯微、天域半导体港股IPO成功，科技公司在港上市的步伐继续加快。 在港股市场与A股市场紧密联动之下，今年以来这两大市场的科技龙头呈现普涨状态。这也带动港股IPO发行持续处于高位。据Wind统计，2024年港股市 场共73家公司IPO，今年以来（截至12月1日，下同），港股市场共有96家公司IPO，相比2024年全年增长31.51%。 10月份以来，港股IPO公司有29家，其中包括了知名科技龙头纳芯微（2676.HK）、天域半导体（2658.HK）、均胜电子（0699.HK）、赛力斯 （9927.HK）、剑桥科技（6166.HK）。另外，在美股市场上市的小马智行也在港发行新股。 安永近期发布展望称，2026年香港IPO市场将延续活跃态势，全年热度保持稳定。上市主体方面，A+H股模式持续火热，中概股回归与涵盖人工智能、生 物医药等前沿领域的特专科技公司将共同构成重要来源。 科技龙头港股市场排队IPO 据Wind统计，今年以来，港股市场IPO公司数量共96家，远超去年全年的73家以及同期的57家。 从募集资金来看，今年前11个月，港股市场IPO公司募集资金总额为2645.98亿港元，比去 ...

Core Insights - The training session focused on empowering the food industry through capital market mechanisms, enhancing understanding and confidence among enterprises regarding capital market tools for industrial development [7][13] - The event was organized by the Municipal Financial Office in collaboration with CITIC Securities and Qingdao Blue Ocean Equity Exchange Center, highlighting a comprehensive capital support system for enterprises throughout their lifecycle [1][7] Group 1: Training Overview - The training included presentations on the Hong Kong capital market and practical aspects of listing food companies on the Hong Kong Stock Exchange, providing structured analysis of the number of listed companies, total market value changes, and industry distribution [3][9] - Key speakers included senior executives from CITIC Securities, who provided insights into capital market operations and strategies tailored for the food industry [3][9] Group 2: Market Insights - Analysts discussed the outlook for the livestock industry, particularly the egg futures market, predicting a continuation of wide fluctuations, and emphasized the need for long-term strategies in the pig market [5][11] - The oilseed market was also analyzed, with expectations of increased production of international palm oil, while domestic supply and demand dynamics were addressed to prepare for future market changes [5][11] Group 3: Participation and Impact - Over 50 participants from key food industry enterprises, financial management departments, and industry liaison officers attended the training, indicating strong interest and engagement in capital market opportunities [7][13] - Attendees expressed a clearer understanding of industry development and the supportive role of capital markets, committing to translate knowledge into actionable steps for advancing their listing processes [7][13]

Core Viewpoint - The surge of humanoid robots is becoming a focal point for capital in the Hong Kong stock market, with numerous companies in the robotics industry racing to list on the exchange [1] Group 1: Market Activity - Udi Robotics has received approval for its IPO on the Hong Kong Stock Exchange, planning to issue up to 73.6 million shares [1] - Several companies, including Sanhua Intelligent Control and Junsheng Electronics, have successfully listed on the Hong Kong Stock Exchange this year, raising significant capital [1][2] - The listing trend is driven by the success of leading companies, with many others, including Top Group and Yujia Technology, also planning to go public [1][3] Group 2: Performance of Listed Companies - Sanhua Intelligent Control's IPO was highly successful, with an oversubscription rate of 747 times and actual fundraising amounting to 10.7 billion HKD, making it one of the top IPOs of the year [2] - Junsheng Electronics also triggered the "green shoe" mechanism during its IPO, raising approximately 3.4 billion HKD [3] - Companies like Geek+ and Cloudwise Technology have shown strong market performance post-IPO, with Geek+ maintaining a market cap around 30 billion HKD and Cloudwise's stock price rising significantly [5] Group 3: Future Prospects and Challenges - The Hong Kong market is becoming a popular choice for robotics companies due to its international valuation system and flexible financing mechanisms [7] - However, the industry faces challenges such as the need for commercialization and fluctuating global market expectations, which may limit the window for high valuations during IPOs [7][9] - The complexity of valuation logic in the Hong Kong market, influenced by diverse global investors, can lead to significant price volatility for newly listed companies [8]

Core Viewpoint - Olin Bio is seeking to list on the Hong Kong Stock Exchange to become an "A+H" listed company, aiming to raise funds for innovative vaccine research and to reduce reliance on its core product, the adsorbed tetanus vaccine [1][5]. Group 1: Company Overview - Olin Bio, founded by industry veteran Fan Shaowen and his daughter Fan Fan, has become a key player in the vaccine market, particularly with its adsorbed tetanus vaccine, which has significantly contributed to its revenue [2][3]. - The company achieved a revenue of 589 million yuan in 2024, representing an 18.7% year-on-year increase, and a net profit of 20.76 million yuan, also up by 18.2% [3]. Group 2: Financial Performance - In the first half of 2025, Olin Bio reported a revenue of 306 million yuan, a 35.17% increase year-on-year, and a net profit of approximately 13.2 million yuan, marking a turnaround from previous losses [3]. - The adsorbed tetanus vaccine accounted for 90.99% of total revenue in 2024, with a sales revenue of 536 million yuan, indicating a 15.7% increase [3]. Group 3: Challenges and Risks - Olin Bio faces significant challenges, including a high dependency on the adsorbed tetanus vaccine, which has consistently contributed over 90% of its revenue, exposing the company to market fluctuations and competitive pressures [7]. - The company is also under financial strain, with negative cash flows from operating activities and substantial funding needs for ongoing vaccine development and international expansion [7]. - The competitive landscape is intensifying, with both price competition in traditional vaccines and technological competition in innovative vaccines, potentially compressing profit margins [7].