Group 1 - Tianhua New Energy (SZ 300390) held its 28th meeting of the sixth board of directors on October 24, 2025, to discuss the proposal for designating a delivery warehouse for lithium hydroxide at the Guangzhou Futures Exchange [1] - For the first half of 2025, Tianhua New Energy's revenue composition was 88.08% from the lithium battery materials sector and 11.92% from other businesses [1] - As of the report date, Tianhua New Energy has a market capitalization of 21.2 billion yuan [1] Group 2 - The Chinese innovative drug sector has generated $80 billion in overseas licensing deals this year, indicating a robust market for biopharmaceuticals [1] - Despite the hot secondary market for biopharmaceuticals, fundraising in the primary market is facing challenges, as discussed by Lu Gang, a partner at Chuangdong Investment [1]