历经三次递表、两次折戟后，深圳手回科技集团有限公司（手回集团，02621.HK）于近日通过港交所主板上市聆讯，为其长达18个月的IPO征程扫清关键障 碍。 根据公告，手回集团计划在全球发售0.24亿股股份，其中0.22亿股股份为国际发售股份，香港公开发售股份243.6万股，发行区间为5.84至8.08港元，本次IPO 募资规模至多为1.968亿港元，预计将于5月30日开始在香港联交所主板交易。 营收占比上，招股书显示，来自B端渠道的"牛保100"在2024年贡献了8.65亿元收入，占手回集团保险交易服务总收入的62.8%，知名度最高的"小雨伞"带来 的直销收入仅为2.93亿元，占比只有21.3%，来自"咔嚓保"渠道的收入为2.2亿元，占比为15.9%。 从集团整体的财务情况来看，手回集团近年的表现出较大的波动。 招股书显示，2022年至2024年，公司营收分别为8.06亿元、16.34亿元、13.87亿元，2023年同比激增102.7%，但2024年又骤降15.1%。净利润更是不容乐观： 2022年短暂盈利1.31亿元后，2023年与2024年分别亏损3.56亿元、1.36亿元，两年累计亏损达4.92亿元。 ...

据悉，宁夏先后开展枸杞基因组学、功效物质提取、栽培机理等基础研究，构建了枸杞高密度遗传连锁 图谱，建立了枸杞化合物数据库。为确保新品种培育取得新成效，宁夏创建了保存2000余份种质材料的 枸杞种质资源库，构建了枸杞资源圃、种子低温库和标本库"三位一体"保存体系。目前，"宁杞"系列枸 杞良种覆盖中国所有枸杞产区，占全国枸杞主栽品种的90%以上。 在关键领域，宁夏开展了枸杞种质资源收集与精准评价、枸杞重大害虫生态调控关键技术研究与示范、 枸杞原浆标准体系构建及功能性产品开发、养眼抗衰枸杞产品创制、枸杞根腐病菌拮抗菌及相关微生物 群落研究、枸杞蚜虫寄生性天敌昆虫资源挖掘与利用等系列研究。 研究中，筛选出杀虫作用明显的微生物菌株3个，研发植物源新制剂2个，枸杞害虫综合防治效果达 85.59%，化学农药减量30.92%。同时，科研工作中还筛选发现了以枸杞子为主要原料用于防治年龄相 关性黄斑变性的有效组方杞菊方，突破了枸杞汁发酵护肝等功能产品加工技术，开发出一批机理明确、 功能定向、活性成分提取工艺成熟的抗抑郁、抗疲劳、增强免疫力等枸杞新功能产品。 与此同时，依托东西部科技合作机制，宁夏先后引进集聚南京中医药大学、南京理 ...

Governance and Management - Jilin Aodong has received multiple governance honors, including the 2024 Excellent Board Practice Case, highlighting its commitment to corporate governance and operational performance improvement [2][3] - The company has established a robust governance structure and internal control management system to ensure accurate and complete information disclosure [2][3] Financial Performance - In 2024, the company achieved a revenue of CNY 261,057.51 million, a decrease of 24.31% compared to the previous year, while net profit attributable to shareholders increased by 6.27% to CNY 155,139.31 million [7][14] - The cost of the pharmaceutical segment decreased by 12.56% year-on-year, indicating effective cost management strategies [6][14] Business Segments - The three main business segments—traditional Chinese medicine, chemical pharmaceuticals, and retail pharmacy—generated a combined revenue of CNY 227,376.10 million, accounting for 87.10% of total revenue [7][11] - The traditional Chinese medicine segment alone contributed CNY 160,554.13 million, representing 61.50% of total revenue [7][9] Marketing and Sales Strategies - The company is enhancing its marketing system by integrating online sales through major e-commerce platforms and optimizing its offline stores for O2O business [5][11] - A focus on core product matrix development and strategic marketing initiatives has been implemented to improve sales performance and market penetration [10][11] Research and Development - In 2024, R&D investment amounted to CNY 99,909,053.79, a decrease of 29.69% from the previous year, with a focus on balancing R&D spending and cost control [17][19] - The company is actively pursuing innovation in traditional Chinese medicine and exploring new product development in various therapeutic areas [19][20] Shareholder Returns - The company plans to distribute a cash dividend of CNY 3 per 10 shares for 2024, reflecting a commitment to shareholder returns while balancing operational needs [12][13] - A three-year shareholder return plan has been established to enhance dividend frequency and optimize payout ratios [12][13] Challenges and Future Outlook - The company faces challenges such as declining revenue and increasing accounts receivable relative to revenue, prompting a focus on risk management and operational efficiency [16][21] - Future strategies include enhancing core product market share, expanding into international markets, and leveraging AI technology for operational improvements [20][21]

Core Viewpoint - The annual shareholder meeting of Qinghai Spring Medicine Resources Technology Co., Ltd. is scheduled for June 3, 2025, focusing on maintaining shareholder rights and ensuring orderly proceedings [1][2]. Meeting Details - The meeting will take place at 2:30 PM at the company's conference room in Xining, Qinghai Province [1][3]. - Shareholders must arrive 10 minutes early to complete registration and present necessary documents [2]. - Voting will be conducted both on-site and online, with a single voting method applicable for each shareholder [3]. Company Operations - The board of directors reported that six board meetings were held during the reporting period, resulting in the approval of 27 key resolutions [5][6]. - Independent directors actively participated in meetings and provided independent opinions on various matters, ensuring the protection of minority shareholders' rights [6][9]. Business Strategy - The company focuses on two main business segments: the health industry, particularly the sales of Cordyceps, and the liquor industry, which is currently undergoing adjustments due to market pressures [8][29]. - The health segment is expected to grow as awareness of health products increases, while the liquor segment aims to enhance product quality and brand trust [8][29]. Financial Performance - In 2024, the company achieved a revenue of 270.26 million yuan, a 26.36% increase from the previous year, despite a net loss of 198.77 million yuan [22][24]. - The total assets decreased by 14.35% to 1.164 billion yuan, primarily due to changes in receivables and investments [25][28]. Future Outlook - The company plans to continue expanding its health product offerings and improve its liquor product lines while exploring new business opportunities to ensure sustainable growth [29][30]. - Strengthening internal control systems will be a priority to enhance decision-making and product quality [30].

山东泰山灵芝集团董事长石南南在会议上明确部署2025年工作重点:研发方面,持续深挖灵芝药用价值,加大科研攻关力度,加快针对慢性 病、免疫力提升等领域新产品研发速度,争取推出更多功效显著、安全可靠的产品,满足患者多样化健康需求;生产环节,进一步优化生产 流程,引入智能化管理系统,实现生产过程精准控制,提升生产效率与产品质量稳定性,降低生产成本,让优质灵芝产品更具价格优势,惠及 更多患者。 展望未来,山东泰山灵芝集团将秉持"传承千年灵芝文化,创新现代健康产业" 的理念,以科技为先导、以市场为导向、以患者福祉为己任, 在大健康产业持续深耕细作。不断提升产品品质与服务水平,加强科技创新与国际合作,为提升患者福祉、推动行业发展砥砺奋进,书写 集团发展新篇章,为人类健康事业做出更大贡献。 过去一年,山东泰山灵芝集团在提升患者福祉方面成果斐然。在产品研发层面,集团持续加大资金与人力投入,与多所知名高校及科研机 构紧密合作,建立长期产学研合作关系。山东泰山健康科技依托灵芝深加工项目,成功入选山东省绿色低碳高质量发展重点项目名单。其 位于泰山脚下的现代化工厂,配备 4000 平方米透明可视化十万级净化车间,引入国际领先的生产技 ...

今年4月，由天九共享网科集团自主研发的"天星穹"大模型，与百度千帆、小米澎拜视觉、豆包视觉模 型等23个大模型，成功通过了"生成式人工智能服务备案"；该大模型于2024年便已通过国家互联网信息 办公室的"境内深度合成服务算法备案"。 以"天星穹"大模型为依托，老板云2025年启动科技服务升级，而一键企服AI集成平台是此次升级的重要 组成部分。围绕"人、家、企、社"四大场景，一键企服AI集成平台将为高净值企业家打造包含商旅规 划、高端运动、个人IP打造、视频问诊、AI健康评测、海外医疗、家庭旅游、二代教育、金融服务等多 重功能的私享服务体系。 5月22日，在由中国产业发展促进会指导，天九科协、天九老板云联合主办的2025第五届创客万里行启 动仪式暨天九科协成立三周年庆典上，天九共享集团董事局共同主席、天九企服董事长兼CEO、天九共 享集团科学技术协会主席戈峻表示，科技正在打破行业边界、资源边界、能力边界。这个过程中，商业 逻辑被重塑，小微企业也可能拥有巨头级的能力。 他强调，当能力边界被拓展，认知壁垒被打破，资源流动不再受限，新的物种、新的商业模式和产业格 局便会应运而生。这也正是"创客万里行"活动的核心价值所 ...

（文/朱道义 编辑/张广凯） 尚未找到稳定第二增长曲线的"中国燕麦第一股"，能否实现"再造一个新西麦"的目标？ "西麦"品牌成立30周年（2024年）的庆典上，其实控人谢庆奎提出"再造一个新西麦"。今年前不久，西 麦食品披露了2024年财报，在整体业绩持续增长的基础上，表态2025年的营收要再涨15%。 但前有押注冷食燕麦的失利，今有市场对于公司净利率连年走低的质疑，当下将新增长点寄希望于大健 康的西麦食品，能否实现上述目标似乎还留有悬念。 5月20日，西麦食品（002956.SZ）举行了2024年业绩发布会，公司管理层解答了投资者关心的部分问 题，并表示，公司对于未来保持良好发展态势充满信心，将努力争取实现经营目标。 回顾2024年，西麦食品实现总营收18.96亿元，同比增长20.16%，创下新高；归母净利润1.33亿元，同 比增长15.36%。谈及业绩增长，西麦食品在说明会上将其归因于品牌本身影响力的持续扩大、多元化 产品矩阵以及稳居行业第一的终端销售网络等因素。 但可以发现的是，虽然西麦食品整体营收上涨，但盈利能力似乎却在下滑。2024年，公司毛利率为 41.33%，同比下降3.22个百分点，这与原材料 ...

108 粒大包装的推广，促进足剂量足疗程用药，并通过加强店 员和消费者教育等方式，加强连锁药房的合作与覆盖，提升 OTC 端的销售；再次，推动 O2O 线上运营，加强与美团等平台 的合作，以适应年轻人网上购药的趋势，同时积极探索布局互 联网药品的零售和健康产品业务，专注数字化营销；最后，关 注乌灵胶囊在改善轻度认知功能障碍（MCI）方面的应用和推 广，通过参与"老年认知功能维护及心理健康促进计划"项目， 开展下基层进社区公益活动，提升产品品牌知名度。我们相信 通过一系列的努力，OTC 端的销售将有显著的增长，OTC 端销 售占比将逐渐提高。 问题二：公司 2025 年在发展战略上有何新的规划？ 答：近几年来公司坚持以成药为核心，以中药饮片、中药配方 颗粒为两翼的"一体两翼"的战略，秉持"聚焦营销、聚焦研 发"，取得了稳健的发展。随着市场环境变化和消费者需求的 多样化，公司也在积极探索大健康产品领域，深入乌灵菌粉滤 液研究，密切关注海外地区相关注册审批政策，紧抓海外相关 政策机遇，未来将充分发挥自身优势，推进大健康类产品的开 发，进一步打开 C 端消费。 问题三：公司当初开发聚卡波非钙片的原因？目前销售情况如 ...

因此，长期来看，国家需要重建大健康综合监管制度，一方面是做好机构保障，在国家卫健委增设患 者/健康消费者的权益保障部门，统筹并畅通各部门的举报、投诉渠道，由卫健委协同其他主管部门开 展大健康行业日常监管，并将健康消费维权的响应率、查处率、办结率纳入各部门的年度考核，使其愿 意管、敢于管。 另一方面是做好法制保障，抓住卫生"基本法"《基本医疗卫生与健康促进法》实施条例制定的宝贵契 机，以法规授权的方式，允许卫健委从"管卫生行业"延伸到"管(各行各业)大健康行为"，让卫健委既背 负公众健康结局的考核指标，也拥有广义健康产业的(牵头)执法权，实现责权利一体。 尽管本案暂无定论，但在中药或保健品中违法掺杂西药绝非新鲜事。据多地法院、检察院、市场监管部 门通报，近年来，为了减肥，有人在名为"果蔬压片糖"的产品中添加违禁成分"布噻嗪"，利用利尿剂短 期内大量脱水的特性，制造"快速减肥"的假象；为了止痛，有人将血藤、桑寄生等中药粉碎后，违规掺 入布洛芬、安乃近等西药成分，制成所谓"苗药追风丸"宣称治疗风湿病；为了降低血糖，有人在自制降 糖茶中掺入格列本脲、二甲双胍等西药成分——上述行为均被依法追究刑事责任。在食品级的"广式 ...

Core Insights - IMCOCO Group, engaged in the coconut water industry, has completed a Pre-A round financing of over 100 million yuan, led by Insignia Ventures Partners, to expand production capacity, globalize its ONLIFE brand, and establish a headquarters in China [1][5] Company Overview - IMCOCO was established in 2023 and is headquartered in Bangkok, Thailand, covering four main areas: coconut planting, cross-border trade of coconut products, raw material research and production, and coconut water beverage processing [1][5] - The company operates Thailand's only 10,000-ton coconut water production base and has a unique standardized supply chain for fragrant coconuts [1][5] Market Growth - The global coconut water beverage market is projected to grow from $2.517 billion in 2019 to $4.989 billion by 2024, with a compound annual growth rate (CAGR) of 14.7% [1] - The Greater China coconut water market is expected to increase from $10.2 million in 2019 to $109.3 million by 2024, with a CAGR of 60.8% [1] - The mainland China market is anticipated to grow from $4.97 million in 2019 to $101.8 million by 2024, with a CAGR of 82.9% [1] Supply Chain and Production - IMCOCO has established a complete supply chain from coconut farms to retail, making it the first company to achieve this in Thailand [4][5] - The company has leased 260 rai of experimental land and plans to lease at least 10,000 rai of coconut orchards, aiming for 20%-30% self-supply of coconuts [5] - IMCOCO collaborates with over 34 coconut factories in Thailand and has a stable supply of 500 million Thai Baht (approximately 100 million yuan) in orders [5] Product Development - IMCOCO has launched its own brands, including Kuke Coconut and Yaya Coconut, targeting the mid-range market [8] - The company plans to introduce the ONLIFE brand, focusing on high-end coconut water products, with a shorter shelf life of 45 days to preserve taste [8][10] Competitive Landscape - The coconut water market in China is experiencing intense price competition, with average prices dropping from 1.91 yuan per 100ml in Q1 2023 to 1.46 yuan in Q1 2025, a decrease of 23.5% [9] - IMCOCO aims to avoid competition in the mid-range segment by positioning ONLIFE in the high-end market, leveraging its advantages in fragrant coconut sourcing [9] Future Outlook - IMCOCO plans to expand its market presence internationally, targeting Japan, Southeast Asia, and eventually the mature coconut water market in the United States [10] - The global coconut water market is expected to grow from $5 billion in 2024 to $8.5 billion by 2029, indicating significant growth potential [10]