天才少年用AI日筛十亿分子！奥特曼恩师支招：不买模型卖授权。 为了吃到蔬菜水果，人类在土地上倾倒了越来越多的农药：三十年间用量翻了一倍，却仍有40%的作物每年死于病虫害。 问题不在农民，而是害虫演化得太快，抗药性越来越强，远超农药研发的速度，导致农药效果越来越差。 但我们不能输给进化这场赛跑。 监管机构也在给农药制造商越来越大的监管压力，但大多数农化公司仍然依赖调整传统化合物。 两位刚成年的创始人给出了一个截然不同的答案——把农药研发，当成「精准靶向治虫」。 通过AI模型先在海量蛋白质中锁定只存在于害虫体内的「独特靶点」，再用类似AlphaFold的结构预测与配体筛选技术，为这些靶点设计专属「药」，让 杀虫剂第一次有机会做到：只杀害虫，不误伤人类与有益生物。 为植物找药，为全球省粮 一个事实令人吃惊，但鲜为人知：为了达到2000年时相同的农作效果，如今全球农药使用量竟然翻了一倍。 具体来说，目前大多数杀虫剂的开发方式并非基于特定的靶点，而是昆虫学家和化学家提出不同的化合物，然后在昆虫上进行测试。为了检查其有效性， 通常需要合成和测试数千种化学物质，成本很高。 而两位创业者坚信「苦涩的教训」——即「利用计算资源 ...

Group 1 - The company has confirmed that its new pesticide product, JS-T205, is currently in the trial production phase, focusing on process improvement and cost optimization [2] - The company is actively engaging with regulatory authorities to expedite the registration process for the new pesticide, which is required for market launch [2] - According to the project's feasibility report, the expected post-tax internal rate of return is 25.84%, with a post-tax static investment payback period of 6.08 years [2]

Core Viewpoint - Tianyuan Biochemical Co., Ltd. is preparing for an IPO on the Shenzhen Stock Exchange, aiming to raise 630 million yuan for industrial development, despite concerns over stagnant revenue and product quality issues [1][3][4]. Financial Performance - The company has maintained profitability over the past three years, with net profits of 162 million yuan, 229 million yuan, and 249 million yuan from 2022 to 2024, showing a growth rate of 41.46% in 2023 and 8.71% in 2024 [4][5]. - However, revenue has stagnated around 1.7 billion yuan for three consecutive years, with slight fluctuations: 1.712 billion yuan in 2022, 1.774 billion yuan in 2023, and 1.750 billion yuan in 2024, indicating a decline of 1.34% in 2024 [4][5]. Research and Development - The company's R&D expense ratio has been low compared to industry peers, with R&D expenses of 43.31 million yuan, 48.04 million yuan, and 74.26 million yuan from 2022 to 2024, representing 2.53%, 2.71%, and 4.24% of revenue respectively [8][9]. - In 2024, R&D expenses increased by 54.58%, attributed to the formal registration of a new pesticide and payments for technical services, but still lag behind the industry average of 4.98% to 5.29% [9]. Distribution and Sales Model - The company heavily relies on a distributor model, with distributor revenues of 1.626 billion yuan, 1.728 billion yuan, and 1.701 billion yuan, accounting for over 96% of total revenue during the reporting period [6][7]. - A significant portion of sales comes from distributors controlled by former employees, contributing 334 million yuan to total revenue over three years [7]. Legal and Compliance Issues - Tianyuan Biochemical has faced multiple legal disputes and administrative penalties, including fines for selling counterfeit pesticides and other compliance issues involving subsidiaries [11][12]. - The company has unregistered properties totaling 11,432.79 square meters, which could pose risks of administrative penalties if deemed illegal [13][14]. IPO and Future Prospects - The IPO aims to raise 630 million yuan for five projects, including a new production facility for pesticide granules, which could replace existing production sites [13]. - Despite the company's claims of being a leader in agricultural technology innovation, concerns remain about its ability to sustain growth and manage operational risks effectively [8][9].