但同样的"斩杀线"，西方贵族们也没躲过去。法国王后涂铅白粉美白，英国人从埃及淘来木乃伊，磨成 粉喝下求壮阳的故事大家可能都略有耳闻。而本文将通过一项风靡了超过4800年的传统医学成果——放 血疗法的兴衰，来分析曾经的长寿药是如何成为富人专属的智商税，以及人类对于长寿的研究，究竟是 如何取得了靠谱进展的。 大家知道，不少主打抗衰、抗老的保健品都声称能"排除毒素"，而这一学说最早能追溯到公元前3000年 的古埃及，当时金字塔的壁画上就有放血治疗病人的场景。在公元前460年的古希腊，"老西医"希波克 拉底在"四液说"中为放血疗法搭建了理论基础。他认为人之所以会生病，是因为体内的血液、粘液、黑 胆汁和黄胆汁失去了平衡。而后来古罗马名医盖伦则进一步完善，称"过多的血液会导致疾病"，需要放 血（Bleeding）来平衡体液。 最近， "长寿药到底是不是富人的智商税"这一问题，再次引发舆论关注。 这背后的原因，是国药引进了赛诺根的衰老干预产品瑞拓龄。其在京东上售价快2000元起，最贵的专供 版超过7000元。这价格跟市面上的抗衰老保健品相比，属于天花板级了。但也有网友反映，已经有越来 越多的人，尤其是企业家、大厂高管这样的 ...

Group 1 - The core message of the speech emphasizes a shift in health investment from treating existing diseases to preventing them, thereby extending healthy lifespans [1][3] - The chairman of Huaxi Bio, Zhao Yan, predicts that chronic diseases such as cancer, diabetes, hypertension, hyperlipidemia, hyperglycemia, and even Alzheimer's may be curable in the next decade, contingent on the importance placed on prevention [1] - The speech aligns with the "Healthy China 2030" initiative, which advocates for a preventive approach to health, promoting healthy lifestyles and early diagnosis and treatment to reduce disease occurrence [3] Group 2 - Zhao Yan highlights that the essence of aging intervention is not merely anti-aging but rather controlling risks to reduce the incidence of chronic diseases [3] - The proposed path to health should focus on preventing diseases, minimizing their occurrence, and delaying their onset, with technological innovation playing a crucial role in this intervention [3]

Core Viewpoint - Chinese biotechnology companies, exemplified by Huaxi Biological, are competing on a global scale through hard-core innovation in the fields of aging intervention and tissue regeneration, leveraging a leading synthetic biology pilot transformation platform to support global health and beauty initiatives [1][2]. Group 1: Company Overview - Huaxi Biological, established in 2000, has evolved beyond being a traditional raw material supplier to focus on aging intervention and tissue regeneration [1][2]. - The company has achieved a global leading position in the production of hyaluronic acid and other bioactive substances, driven by technological innovation [2]. Group 2: Technological Advancements - Huaxi Biological has developed a comprehensive system for aging intervention, focusing on key bioactive substances such as hyaluronic acid, ergothioneine, ectoine, and bird's nest acid, which are interconnected through a rapid research and development mechanism [3]. - The company emphasizes that sugar biology is a core area of focus, with significant advancements in key glycosaminoglycans like hyaluronic acid, chondroitin sulfate, and heparin, where it holds a leading global position [3]. Group 3: Pilot Transformation Platform - The synthetic biology pilot transformation platform, built with an investment of 3 billion yuan in Tianjin, features fermentation systems ranging from 500 liters to 10,000 liters and aims to address scaling challenges in biomanufacturing [7][8]. - This platform has been recognized as a national-level facility, contributing to the overall improvement of China's biomanufacturing capabilities and serving as a public innovation platform for the industry [8]. Group 4: Sustainability and Global Standards - Huaxi Biological has established a "green factory" in line with Industry 4.0 standards, achieving national certification and recognition for its sustainable practices, including energy recycling through photovoltaic power and biogas utilization [10]. - The company has received high ratings in international assessments for its application of synthetic biology and circular economy practices, positioning itself among the top 15% globally [10]. Group 5: Industry Impact - Huaxi Biological's development practices set a benchmark for innovation and upgrading in the Chinese biotechnology sector, creating a complete closed-loop from R&D to pilot transformation and industrialization [11]. - The company's platform-based approach addresses the "valley of death" in biomanufacturing, facilitating cross-material system capabilities and serving as a public innovation carrier for the industry [11].

Core Insights - The article highlights the annual selection of the "Top Ten Advances in Life Sciences in China" by the Chinese Association for Science and Technology, showcasing significant innovations in the field aimed at enhancing public health and addressing critical issues in life sciences [2][36]. Group 1: Innovations in Cancer Treatment - A new strategy for enhancing and reducing toxicity in nasopharyngeal cancer immunotherapy has been developed, demonstrating a 44% reduction in failure risk and an increase in survival rate from 77.3% to 86.9% through the use of PD-1 monoclonal antibodies [4]. - The research also led to a decrease in chemotherapy-induced vomiting rates from 59.8% to 26.2% and reduced severe radiation therapy side effects from 33.2% to 21.6% [4]. Group 2: Caloric Restriction and Longevity - Research from Xiamen University identified a molecule called taurocholic acid that significantly increases in serum after caloric restriction, promoting health and longevity across various animal models [7]. - The study revealed that taurocholic acid activates the TULP3 receptor, which in turn activates Sirtuins, linking to the AMPK pathway, thus providing a theoretical basis for developing interventions that mimic caloric restriction effects [9]. Group 3: Neuroregeneration in Stroke Treatment - A novel "brain repair gel" developed by a collaborative team aims to improve the microenvironment post-stroke, promoting the regeneration of neurons and restoring sensory-motor functions [11]. - This approach marks a paradigm shift from passive protection to active regeneration in stroke treatment, with ongoing clinical trials validating its safety and efficacy [13]. Group 4: Metabolite Diversity and Disease Intervention - A team from Peking University discovered new gut microbiota-derived metabolites that regulate metabolic diseases, identifying orphan receptors as new targets for intervention [15]. - The research utilized AI to uncover specific synthetic enzymes, leading to the development of targeted intervention strategies for metabolic disorders [15]. Group 5: Advances in Genetic Engineering - The Chinese Academy of Sciences has developed an AI-driven protein engineering method that enables large-scale precise editing of DNA, which could revolutionize genetic disease treatment and crop breeding [24]. - This breakthrough represents a significant advancement in the application of AI in life sciences, showcasing the potential for deep learning to address biological challenges [24]. Group 6: Aging Interventions - Research teams have created a "protein scale" to quantify organ aging and identified key mechanisms driving aging, including the role of betaine as a "exercise mimetic" that slows multi-organ aging [26]. - The study also developed engineered anti-aging stem cells that can provide systemic protection against inflammation, contributing to the advancement of precision medicine in aging research [26]. Group 7: Insect Pheromone Research - A comprehensive analysis of locust aggregation pheromones has been conducted, leading to the development of specific inhibitors that can effectively control locust behavior [19]. - This research provides a foundational understanding for developing precise pest control strategies, marking a significant achievement in the field of entomology [19]. Group 8: Deep-Sea Evolutionary Mechanisms - A collaborative study has decoded the evolutionary processes of deep-sea animals, revealing how they adapt to extreme environments and providing insights into biodiversity [34]. - The findings challenge previous notions about deep-sea evolution, highlighting it as a site of innovation rather than a terminus for life [34].

Core Viewpoint - Huaxi Biological has made significant improvements in operational quality and profitability since the return of its chairman and general manager in March 2025, despite a decline in revenue [1][2]. Group 1: Financial Performance - In Q3 2025, the net profit attributable to shareholders reached 0.32 billion yuan, a year-on-year increase of 55.63% [1]. - The operating revenue was 9.03 billion yuan, showing a year-on-year decline of 15.16% [1]. - The net cash flow from operating activities increased by 8.59 times year-on-year, indicating continuous improvement in core indicators [1]. Group 2: Strategic Focus - The company is focusing on a comprehensive business layout in the field of aging intervention, integrating solutions across pharmaceuticals, medical aesthetics, nutritional science, and skin science [2]. - Huaxi Biological aims to upgrade from "Chinese manufacturing" to "Chinese cutting-edge R&D + Chinese brands" by expanding its industrial ecosystem around core life science materials [2]. - The growth points for the company are derived from its integration capabilities in three areas: stability and regeneration of extracellular matrix (ECM), maintenance of cellular energy and function, and precise regulation of intercellular information transmission [2].

Core Viewpoint - Huaxi Bio's nutrition science segment has achieved a breakthrough, maintaining revenue growth while achieving quarterly profitability for the first time in Q3 [1] Short-term Outlook - Business recovery and expansion are expected in the short term, with skin science innovation and transformation business anticipated to continue adjustments, leading to gradual revenue recovery [1] - The raw materials business, leveraging commercialized synthetic biological new materials like PDRN and PQQ, is expected to achieve steady growth and become a significant growth engine for the company [1] Long-term Strategy - The company focuses on aging intervention, building an integrated solution covering raw materials, medical aesthetics, skincare, and nutrition, based on its leading synthetic biological manufacturing capabilities [1] - The business ecosystem is designed to enhance the company's cutting-edge R&D influence and drive brand value enhancement [1] Financial Projections - The expected EPS for the company from 2025 to 2027 is projected to be 0.81, 1.08, and 1.30 yuan respectively, maintaining a "buy" rating [1]

Group 1: Fixed Income - The manufacturing PMI for November shows a slowdown in contraction, with the index rising to 49.2%, an increase of 0.2 percentage points from the previous month, indicating a slight improvement in production and demand [7][8] - The non-manufacturing business activity index fell to 49.5%, a decrease of 0.6 percentage points, suggesting that the service sector has entered a contraction phase [7][11] - The construction industry has remained below the growth line for four consecutive months, necessitating further economic stabilization policies [7][11] Group 2: Real Estate - The sales revenue of the top 100 real estate companies in November decreased by 36.8% year-on-year and 11.7% month-on-month, indicating a significant decline as the market enters a sales lull [14][15] - The sales area for the top 100 companies also saw a year-on-year decline of 35.8%, although the rate of decline has lessened compared to previous months [14][15] - There is an increasing expectation for policy easing as the market shows signs of weakness, suggesting potential investment opportunities in the sector [14][16] Group 3: Pharmaceutical and Biotechnology - The company Huaren Sanjiu (000999.SZ) reported a revenue of 21.986 billion yuan for the first three quarters, a year-on-year increase of 11.38%, with a net profit of 2.353 billion yuan, reflecting a decline of 20.51% [18][19] - The company is focusing on both internal and external growth strategies, particularly in the consumer health sector, and is expected to achieve net profits of 3.295 billion yuan, 3.843 billion yuan, and 4.268 billion yuan for 2025, 2026, and 2027 respectively [19][20] - The company has a strong brand value and advantages in traditional Chinese medicine, which supports its growth potential [19][20] Group 4: Beauty and Personal Care - Huaxi Biological (688363.SH) reported a revenue of 3.163 billion yuan for the first three quarters, a year-on-year decrease of 18.36%, primarily due to a strategic contraction in its skin science innovation business [21][22] - The company is optimizing its business structure, with a focus on high-margin pharmaceutical-grade raw materials, which has led to an overall gross margin of 70.68% [22][23] - The company is expected to see a recovery in its skin science business and growth in its raw materials segment, driven by new synthetic biological materials [23]

Core Insights - The company is actively adjusting its operations and organizational structure to enhance its long-term competitiveness through technological innovation, focusing on synthetic biology as a core strategic direction [1][2][4] - The company has seen a profit growth of 55.63% year-on-year in Q3 2025, indicating the effectiveness of its reform measures [2] - The company aims to build a comprehensive ecosystem for its C-end business, which is crucial for validating technological innovations and meeting consumer needs [3][4] Group 1: Strategic Adjustments and Financial Performance - The company has implemented strategic adjustments that have led to a profit growth of 55.63% in Q3 2025, with a net profit of 0.32 billion and revenue of 9.03 billion [2] - The adjustments have resulted in a decrease in sales expense ratio to 34.26%, the lowest in five years, demonstrating effective cost control [3] - The company is focusing on C-end business as a key area for adjustment, emphasizing the need to understand consumer demands for resource allocation [2][3] Group 2: Research and Development Focus - The company is concentrating on glycoscience and cell biology, aiming to provide systematic solutions for delaying aging [4][5] - The synthetic biology system is supported by two core platforms: a biocatalyst library and a pilot transformation platform, which facilitate rapid development and industrialization of new molecules [5][6] - The company has developed a comprehensive research and transformation platform that integrates scientific research, pilot verification, and industrial application [4][5] Group 3: Pilot Platform and AI Integration - The pilot platform is a critical infrastructure for validating and scaling new materials, enabling the transition from laboratory research to market-ready products [7][8] - The company has invested in a pilot transformation platform in Tianjin, equipped with fermentation systems and production lines to support the scaling of biomanufacturing [7][8] - The integration of AI is aimed at enhancing the efficiency of the pilot platform, although the primary role remains with the scientific and engineering systems [7][9] Group 4: Future Directions and Industry Impact - The company plans to deepen its "pilot foundation, AI efficiency" model to solidify its position in the biomanufacturing sector [9] - The open and shared mechanism of the pilot platform is becoming a vital part of China's technological innovation system, supporting both the company's growth and the broader industry ecosystem [8][9] - The company aims to create an open, efficient, and sustainable synthetic biology innovation platform to drive future growth [6][9]

Core Viewpoint - The company is actively adjusting its operations and organizational structure to enhance its long-term competitiveness in the synthetic biology sector, focusing on high-quality development paths in the biomanufacturing industry [1][2]. Group 1: Strategic Adjustments and Financial Performance - The company has seen a profit growth trend, with a net profit of 0.32 billion yuan in Q3 2025, representing a year-on-year increase of 55.63%, and revenue of 9.03 billion yuan, indicating continuous improvement over two consecutive quarters [1]. - The decline in revenue during the first three quarters was primarily due to a decrease in skin science innovation conversion business, which is viewed as a temporary outcome of the ongoing adjustments [2]. - The company has reduced ineffective spending and adjusted its evaluation system, resulting in a sales expense ratio of 34.26%, the lowest in five years, while still achieving approximately 55% profit growth year-on-year [3]. Group 2: Focus on C-end Business and Ecosystem Development - The C-end business is a key focus of the company's adjustments, emphasizing the need to accurately define brand positioning and target demographics to create real value for consumers [2]. - The company is accelerating the construction of an ecosystem that fosters mutual growth with users, platforms, and partners to solidify the foundation for C-end business development [2]. Group 3: Synthetic Biology and Technological Innovation - The company is centered on synthetic biology, particularly in glycomics, aiming to provide systematic solutions for delaying aging [4]. - The synthetic biology system is supported by two core platforms: a biocatalyst library and a pilot transformation platform, which facilitate rapid new molecule screening and scale-up verification [4][8]. - The company has achieved significant technological advancements, such as the precise synthesis of heparin through a fully enzymatic method, moving towards "green biomanufacturing" [4]. Group 4: Pilot Testing and AI Integration - The pilot platform is crucial for connecting research, validation, and transformation, serving as a key facility for technology maturity verification and data model accumulation [8]. - The company has invested in a synthetic biology pilot transformation platform equipped with fermentation systems and production lines to support core functions like mechanism verification and process standardization [7][8]. - The open and shared mechanism of the pilot platform is becoming an essential part of the national innovation system, supporting both the company's growth and the broader industry ecosystem [8][9].

Core Insights - The article discusses the introduction of Restorin, an oral aging inhibitor developed by a joint venture between China National Pharmaceutical Group (Sinopharm) and Seragon, which has gained significant attention from consumers, particularly high-net-worth individuals [1][2]. Group 1: Product Overview - Restorin is sold in units of 120 capsules at approximately 2000 yuan, with a monthly cost of 2000-3000 yuan based on a recommended dosage of 4 to 6 capsules per day [1]. - The product has achieved cumulative sales of over 10,000 units on Tmall, indicating a strong demand for scientifically-backed health and longevity products [1]. Group 2: Research and Development - The technology behind Restorin originates from SRN-901, a candidate drug developed in collaboration with Harvard University and the Mayo Clinic, which has shown a record lifespan extension of 33.02% in experimental animals [1][3]. - Seragon, established in 2009, initially focused on hormone-related cancer drug development and has since expanded its research to include aging-related molecular mechanisms [3]. Group 3: Scientific Basis - SRN-901 integrates advanced aging intervention technologies, including mTOR pathway inhibition and cellular autophagy activation, which have been scientifically validated to have lifespan-extending effects [4][5]. - The mTOR pathway's activity increases with age, and its regulation has been shown to effectively delay aging in animal models [5]. Group 4: Challenges in Longevity Research - Longevity research often halts at animal studies due to the long lifespan of primates and the ethical and practical challenges of conducting long-term human trials [6][7]. - Mouse models are commonly used in aging research due to their genetic similarity to humans, but the costs and duration of such studies can be substantial, often exceeding millions of dollars [8]. Group 5: Market Perception - Despite advancements in aging intervention technologies, skepticism remains among the public, largely due to past experiences with misleading health products [9]. - The article emphasizes that those who embrace emerging longevity technologies may gain significant advantages in the future [10].