（原标题：上海家化布局合成生物学创新研发中心，未来希望实现商业转化） "合成生物创新研发中心的成立，我一直认为是上海家化研发中心的第二次飞跃，从产品端转向原料端 和美妆科技端，将更加聚焦合成生物，颠覆性创新以及商业价值转化"，贾海东告诉21世纪经济报道记 者。 就在今年3月，公司成立上海家化创新研发中心-合成生物，将重点聚焦"合成生物学"、"颠覆式创 新"、"商业价值转化"等三大方向。 A股日用化妆品公司上海家化（600315.SH）首席研发官贾海东近日接受21世纪经济报道记者专访。 ...

遵循原始创新 "锦波生物的胶原蛋白学术名称是A型重组人源化胶原蛋白，我们用这个原材料开发各种医疗产品、化 妆品，完成了生产销售的闭环。"杨霞表示，锦波生物的材料是原始创新的，从开始构画材料到现在形 成产业链，是全链条的原始创新。 杨霞介绍，锦波生物的企业精神是原始创新、实事求是。 从开始创业到现在，公司一直深耕两个领域：一是以重组人源化胶原蛋白为主的生命材料；二是抗HPV 生物蛋白为代表的抗病毒产品。 "生命材料填充着我们的各个器官，各个组织的连接，包括信息的兑换都是靠生命材料完成的。"杨霞透 露，2018年，锦波生物第一次发现了人Ⅲ型胶原蛋白有一阶基因调整着细胞的调控和信息传递系统，而 且这些基因非常特殊，它能自给形成三螺旋结构。到2021年，锦波生物规模化生产了全世界第一个用合 成生物法合成的注射用重组Ⅲ型人源化胶原蛋白。 【导读】锦波生物董事长杨霞：重组人源化胶原蛋白的产业化之路 9月16日，在中国基金报主办的2025中国资本市场发展论坛暨上市公司论坛上，锦波生物董事长杨霞发 表演讲。 "为什么我们要选择Ⅲ型胶原蛋白？因为Ⅲ型胶原蛋白是婴幼儿体内主要的胶原蛋白，成年人不缺Ⅰ型 胶原蛋白，缺的是流失的Ⅲ型 ...

转自：新华财经 以"如何做大做强龙江玉米产业，推动产业高质量发展"为主题的第22期"珠江路35号"政商沙龙活动9月16日在哈尔 滨举行。肇东星湖生物科技有限公司综合管理部部长谢刚表示，企业正聚焦延伸玉米加工产业链发展，提高玉米 产品附加值，提升市场竞争力。 据介绍，星湖科技是黑龙江省农业产业化龙头企业，2020年被评定为国家高新技术企业，2021年获黑龙江"专精特 新"中小企业和黑龙江省"制造业单项冠军"企业称号，2021年企业技术中心获认定为省级企业技术中心，2022年省 级工程技术研究中心完成备案，2025年获得黑龙江省绿色工厂称号。 星湖科技坐落于绥化市肇东市北郊，总占地约320亩，员工约830人，是集研、产、销于一体的高新技术企业，以 合成生物学为核心技术的制造型企业，主营业务为年产1.2万吨食品添加剂呈味核苷酸二钠及配套的核苷产业链产 品，产品主要应用于酱油、鸡精、汤料包等食品调味料产业，产品销往全球各地。 该企业进入绥化肇东市以来，不断开展技术创新，先后和清华大学、江南大学、湖北大学、黑龙江省微生物所进 行产学研合作，近三年取得发明专利5项，生产技术水平取得了近20%提升，近2年产品规模增加近20 ...

9月15日，中国科学院深圳先进技术研究院定量合成生物学全国重点实验室金帆团队联合中国科学 院成都文献情报中心杨帅团队，在国际期刊《自然·物理学》发表最新研究成果，首次破解了细菌频率 调制（FM）信号处理的物理密码。 研究发现，在三基因调控系统中，频率调制可比传统振幅调制提升约2个比特的信息熵，从而实现 对多基因系统的精确协调控制。 这是定量合成生物学全国重点实验室继今年3月揭示细菌信号"编码"规律后，在"解码"机制研究方 面取得的又一重要突破。研究在提升人工生命系统的理性设计能力的同时，也为合成生物学开辟了全新 的设计维度。 打破传统策略 工程化破解频率解码机制 当前，合成生物学面临一项核心挑战：如何仿效自然界实现多个基因的精确协调控制？现有调控方 法大多基于"振幅调制"，即调节信号强度来操控基因表达。 "这就像是为细菌安装了一个可编程的'信号接收器'。"杨帅介绍，"我们可以精确控制输入什么样的 频率信号，并观察细菌是如何'理解'和'响应'这些信号的。" 通过严格的时间尺度分析，研究团队发现FDCC系统天然呈现三个功能明确的模块："波形转换 器"负责将周期性光刺激转化为cAMP的锯齿波浓度变化；"阈值滤波器" ...

Industry Overview - The chemical sector's overall performance ranked 12th this week (2025/09/08-2025/09/12) with a change of 2.36%, outperforming the Shanghai Composite Index by 0.83 percentage points and the ChiNext Index by 0.25 percentage points [2][3] - The chemical industry is expected to continue its differentiated trend in 2025, with recommendations to focus on synthetic biology, pesticides, chromatography media, sugar substitutes, vitamins, light hydrocarbon chemicals, COC polymers, and MDI [2][3] Synthetic Biology - The arrival of a pivotal moment in synthetic biology is anticipated, driven by energy structure adjustments that may disrupt fossil-based materials, favoring low-energy products [2] - Traditional chemical companies are expected to compete on energy consumption and carbon tax costs, with successful firms leveraging green energy alternatives and integrated advantages to reduce costs [2] - Companies like Kasei Bio and Huaheng Bio are highlighted as leaders in the synthetic biology sector [2] Refrigerants - The implementation of quota policies is expected to lead to a high-growth cycle for third-generation refrigerants, with supply entering a "quota + continuous reduction" phase starting in 2024 [3] - The demand for refrigerants is projected to grow due to the development of heat pumps, cold chain markets, and the expansion of the air conditioning market in Southeast Asia [3] - Companies such as Juhua Co., Sanmei Co., Haohua Technology, and Yonghe Co. are positioned to benefit from this trend [3] Electronic Specialty Gases - Electronic specialty gases are critical to the electronics industry, characterized by high technical barriers and added value [4] - The domestic market faces a contradiction between rapid upgrades in wafer manufacturing and insufficient high-end electronic specialty gas capacity [4] - Companies like Jinhong Gas, Huate Gas, and China Shipbuilding Gas are expected to capitalize on the growing demand driven by semiconductors, displays, and photovoltaics [4] Light Hydrocarbon Chemicals - The trend towards lighter raw materials in the global olefin industry is noted, with a shift from heavy naphtha to lighter alkanes like ethane and propane [5] - Light hydrocarbon chemicals are recognized for their low carbon emissions, low energy consumption, and low water usage, aligning with global carbon neutrality goals [5] - Satellite Chemical is recommended as a key player in the light hydrocarbon chemical sector [5] COC Polymers - The industrialization of COC/COP (cyclic olefin copolymer) is accelerating in China, driven by domestic companies achieving breakthroughs and the shift of downstream industries to China [6] - COC/COP materials are increasingly used in high-end applications, with domestic firms expected to overcome supply-side bottlenecks [6] - Akolai is identified as a company to watch in the COC polymer production segment [6] MDI Market - The MDI market is characterized by oligopoly, with demand steadily increasing due to the expansion of polyurethane applications [9] - The market is currently experiencing price stabilization at low levels, but profitability remains strong [9] - Wanhu Chemical is highlighted as a key player in the polyurethane sector, benefiting from the anticipated improvement in the MDI supply landscape [9] Potash Fertilizer - Potash fertilizer prices are expected to rebound as the industry enters a destocking phase, with supply constraints due to Canpotex withdrawing new quotes and Nutrien announcing production cuts [7][8] - The demand for potash is projected to rise as farmers increase planting intentions, influenced by rising grain prices [8] - Companies such as Yara International, Salt Lake Potash, and Cangge Mining are noted as leading firms in the potash sector [8] Weekly Price Tracking - The top five price increases this week included liquid chlorine (21.69%), acrylic acid (5.66%), and trichloroethylene (4.44%) [10] - The top five price decreases included butyl rubber (-11.25%), NYMEX natural gas futures (-4.33%), and DMF (-3.68%) [10] Supply-Side Tracking - A total of 162 chemical enterprises had their production capacities affected this week, with 7 new repairs and 11 restarts reported [11]

Core Viewpoint - The company is focusing on synthetic biology technology and expanding its product offerings while maintaining strong research and development capabilities [1] Group 1: Synthetic Biology and Product Development - The company is closely monitoring developments in synthetic biology, which allows for the synthesis of essential components in microorganisms, potentially benefiting the upstream agricultural sector [1] - The company has a robust extraction and separation technology that can enhance the precision of effective component extraction in the synthetic biology industry [1] - The company plans to develop nutritional and medicinal products such as lycopene and grape seed extracts through its U.S. subsidiary, although production lines have not yet been established due to international economic factors [1] Group 2: Research and Development - The company has invested significantly in R&D, establishing advanced research centers and receiving 84 technology-related awards, including two national science and technology progress second prizes [1] - R&D expenses have increased due to project structural changes, particularly in customized and application-oriented product development [1] - The company is collaborating with Jiangnan University on various projects, including cottonseed protein peptides and other products, and plans to expand these collaborations [1] Group 3: Market Strategy and Future Growth - The company aims to become a leader in the natural plant extract industry by developing around ten top products globally and establishing a comprehensive industrial base [1] - The company is optimistic about the long-term growth of natural plant extracts as consumer awareness increases and these products replace synthetic alternatives [1] - The company is focusing on market segments with large scales, long processing chains, and high profit margins for future product development [1] Group 4: Financial Management and Market Position - The company emphasizes value management and shareholder interests, planning to reward shareholders through operational performance [1] - The company’s financing costs are comparable to the same-term Loan Prime Rate (LPR), and market interest rate cuts are expected to lower financing costs [1] - The company is exploring investment and acquisition opportunities based on its development plans and market conditions [1]

Group 1: Company Overview and Strategy - Morning Light Bio's long-term development strategy consists of three steps: achieving the world's largest production and sales of capsicum red, establishing around ten leading products globally, and building a natural plant extract industry base [12] - The company is currently in the second step of its strategy, having begun preparations for the third step [12] Group 2: Research and Development - The company has invested significantly in R&D, with a total of 702 patent applications and 450 patents granted as of mid-2025 [3] - R&D expenses have increased significantly in the first half of the year, driven by changes in project structure and higher material costs [8] Group 3: Market Position and Product Development - The company is focusing on expanding its product range, particularly in natural colorants, which are expected to replace synthetic colorants, providing a broader market opportunity [9] - The company has established a strong foothold in the herbal medicine sector, with 11 drug registration certificates obtained and several products in the pipeline [10] Group 4: Financial Performance and Growth Prospects - The revenue from traditional Chinese medicine granules is currently less than 1% of total revenue, indicating potential for growth in this area [3] - The company has expressed confidence in maintaining high growth rates, driven by increasing consumer demand for natural and healthy products [4] Group 5: International Operations - The U.S. subsidiary is currently evaluating the production of nutritional and medicinal products, with no production lines established yet due to economic factors [4] - The company is monitoring the international market for opportunities, particularly in the extraction of astaxanthin from cotton plants [6]

Investment Rating - The investment rating for the company is "Buy" and it is maintained [1] Core Views - The company is positioned well in the yeast industry, benefiting from an improved competitive landscape, structural growth in global demand, and alleviated cost pressures. The yeast industry has undergone a consolidation phase, with smaller players exiting the market, leading to a more rational competition among leading firms [4][5] - The company has established a strong moat through its scale advantages and technological accumulation, maintaining reasonable profit levels in bidding processes and avoiding vicious competition [4] - The company is expected to achieve double-digit revenue growth in the coming years, with significant profit elasticity and long-term investment value [5][14] Company Overview - The latest closing price is 41.81 yuan, with a total market capitalization of 363 billion yuan and a circulating market capitalization of 358 billion yuan. The company has a total share capital of 8.68 billion shares, with a circulating share capital of 8.57 billion shares [3] - The company has a debt-to-asset ratio of 47.8% and a price-to-earnings ratio of 26.97 [3] Industry Dynamics - The yeast industry has seen rapid capacity expansion followed by a consolidation phase due to ongoing cost pressures and changing market demands. The competitive landscape is stabilizing as leading companies focus on quality, service, and technology rather than price wars [4][5] - The global yeast production capacity exceeds 2.1 million tons, with the company ranking among the top three players in the industry, holding over 20% of the global market share [4] Domestic Market Performance - The domestic market has reached a bottom and is showing signs of weak recovery, with the company enhancing its distribution channels and dealer systems to improve market penetration [8] - The demand for natural, healthy, and functional food ingredients is growing, which, combined with the exit of smaller competitors, is expected to lead to a rebound in the company's domestic business [8] International Market Strategy - The company's overseas business is a key growth driver, maintaining rapid double-digit growth since 2022. The company aims to increase its revenue share from international markets through comprehensive product sales and channel penetration in emerging markets [6][7] - The company has established local operations in various regions, including Egypt and Russia, to enhance market presence and operational efficiency [6][7] Cost Management - The company is benefiting from a decline in molasses prices, which are expected to continue decreasing, leading to improved profit margins [9] - The company is actively developing hydrolyzed sugar replacement technology, which is anticipated to further enhance cost efficiency and product applications [9] Financial Projections - The company forecasts revenue growth of 12.19%, 10.75%, and 9.46% for the years 2025 to 2027, with projected net profits of 16.51 billion yuan, 19.17 billion yuan, and 22.01 billion yuan respectively [14][16] - The earnings per share (EPS) are expected to be 1.90 yuan, 2.21 yuan, and 2.54 yuan for the same period, with corresponding price-to-earnings ratios of 22, 19, and 16 [14][16]

Investment Rating - The industry investment rating is "Overweight" [1] Core Insights - The report highlights the ongoing global biotechnology revolution, emphasizing its integration into economic and social development to address major challenges such as health, climate change, and food security. The National Development and Reform Commission has issued the "14th Five-Year Plan for Biological Economy Development," indicating a trillion-yuan market potential in the biological economy [3][4]. Market Performance - The synthetic biology index increased by 2.01% to 1218.13 during the week of September 1-5, 2025, outperforming the Shanghai Composite Index by 3.19% and underperforming the ChiNext Index by 0.34% [4][20]. - The top five performing companies in the synthetic biology sector during the same week were: - Haizheng Biomaterials (+17%) - BeiGene (+15%) - Kelun Pharmaceutical (+11%) - Health元 (+9%) - Yuanli Technology (+6%) [21][22]. Company Developments - Fuxiang Pharmaceutical has established a wholly-owned subsidiary in Singapore to expand its microbial protein business, aiming for an annual production capacity of 20,000 tons of microbial protein and 50,000 tons of amino acid water-soluble fertilizer [26]. - Kasei (Taiyuan) Biomaterials Co., Ltd. has announced a project for the annual production of 90,000 tons of bio-based polyamide, with existing production capabilities in bio-based products [26]. - Zhejiang Zhenyuan has officially launched its industrialization base for synthetic biology, which includes a facility for the production of histidine and other bio-based products [29]. - Honeywell has partnered with Syzygy Plasmonics to initiate the world's first electrified biogas-to-sustainable aviation fuel (SAF) project in Uruguay, expected to produce over 350,000 gallons of SAF annually [29][30]. Industry Standards - The national standard GB/T 46256-2025 for bio-based materials and products has been released, which will take effect on March 1, 2026. This standard establishes a comprehensive identity certification system for bio-based materials, promoting industry standardization and regulation [10].

Core Insights - Chinese scientists have made a significant breakthrough in understanding how the marine phytoplankton, specifically the diatom, optimizes its photosynthetic system to adapt to varying light conditions in the ocean [1] Group 1: Research Findings - The research team led by researchers Wang Wenda and Tian Lijin from the Chinese Academy of Sciences has revealed the unique strategy of diatoms in adapting their photosynthetic system structure at the atomic level [1] - The PSI-FCPI supercomplex of diatoms consists of 51 protein subunits and 819 pigment molecules, with a molecular weight of 1.66 megadaltons, significantly larger than known eukaryotic photosystem I complexes [2] - The light-harvesting efficiency of the diatom's PSI-FCPI exceeds 95%, comparable to that of terrestrial plants, indicating special protein assembly and energy transfer characteristics [2] Group 2: Structural Characteristics - The core of the diatom's photosystem I is surrounded by 38 phycobilin-chlorophyll a/c binding protein light-harvesting antennas, arranged in a modular fashion into eight radial bands, greatly expanding the light-capturing area [2] - The newly discovered light-harvesting antennas contain a high concentration of chlorophyll c and phycobilin types of carotenoids, effectively absorbing blue-green and green light wavelengths in deep water [4] Group 3: Ecological Importance - Diatoms, with their calcium carbonate cell walls, were major contributors to marine primary productivity during the Cretaceous period and play a crucial role in oceanic carbon deposition and the global carbon cycle [4]