撰文丨王聪 编辑丨王多鱼 排版丨水成文 白内障 作为全球排名首位致盲性眼病，患者数量超过 9500 万。随着糖尿病发病率攀升， 糖尿病性白内障 （DC） 的防治压力日益加剧。临床上，糖尿病性白内 障患者手术并发症风险比普通患者高约 30%，但其术前精准诊断却面临两大难题： 诊断滞后 ：依赖患者自述病史或单次血糖检测，易漏诊； 采样困难 ：传统分 子诊断需采集眼内房水等侵入性样本，无法用于术前筛查。 眼泪 是唯一可直接获取的眼部非侵入性体液，但因其微量特性 （单次采集仅微升级别） ，一直难以实现高效代谢分析。 近日， 华东师范大学 万晶晶 教授团队 联合上海交通大学医学院附属第九人民医院 范先群 院士、 苏蕴 副研究员 、 郭涛 主任医师，在 Nature 子刊 Nature Communications 上发表了题为： A mass spectrometry-based strategy allows signature metabolite identification in tear fluid from people with diabetic cataracts 的研究论文。 这项研究颠覆了传统眼科诊 ...

Group 1 - The company, Beijing Hotgen Biotech Co., Ltd., plans to jointly invest in Beijing Yaojing Gene Technology Co., Ltd. with related parties, with a total investment of 80 million yuan [2][4] - The investment will be made at a price of 2 yuan per registered capital, increasing Yaojing Gene's registered capital from 110 million yuan to 150 million yuan, and reducing the company's equity stake from 40.91% to 38.00% [2][4] - The investment parties include Lin Changqing, the company's controlling shareholder and actual controller, and Beijing Yaojing Enterprise Management Center (Limited Partnership), which is associated with Lin Changqing [2][4] Group 2 - The related transaction has been reviewed and approved by the company's independent directors and the board of directors, with related directors abstaining from voting [3][12][13] - The transaction is classified as a related party transaction but does not constitute a major asset restructuring as defined by regulations [2][4] Group 3 - The investment aims to support the future development of Yaojing Gene and is expected to enhance the company's long-term investment returns without significantly impacting its financial status or operational performance [11][45] - The transaction is deemed fair and reasonable, with no harm to the interests of the company or its shareholders, particularly minority investors [11][45]

Major Events - 加科思-B (01167) published data on KRAS G12C and SHP2 combination therapy in The Lancet Respiratory Medicine [1] - 励晶太平洋 (00575) announced strategic entry into the US market by Deep Longevity in Q1 2026 [1] - 和誉-B (02256) received FDA approval for IND application of oral small molecule KRAS G12D inhibitor ABSK141 [1] - 中国生物制药 (01177) completed the first patient enrollment in Phase I clinical trial for its self-developed innovative drug TRD208 in China [1] - 天图投资 (01973) plans to sell 45.22% stake in 优诺中国 for HKD 814 million [1] - 万国黄金集团 (03939) donated HKD 7 million to support victims of the Hong Kong fire [1] - 和谐汽车 (03836) donated HKD 5 million for fire rescue efforts in Hong Kong [1] - 博雅互动 (00434) donated HKD 1 million for post-disaster reconstruction in Hong Kong [1] - 粤港湾控股 (01396) launched a self-developed quantum computing cloud service scheduling platform [1] - 中基长寿科学 (00767) plans to acquire 25% stake in 综合细胞库有限公司 for HKD 300 million [1] - 众安集团 (00672) plans to place approximately 7.15% of its shares at a premium of about 1.96%, raising approximately HKD 74.96 million [1] - 江苏宏信 (02625) plans to increase investment in 海科宏信 by HKD 53.21 million [1] Share Buybacks/Reductions - 百融云-W (06608) plans to repurchase up to HKD 450 million of Class B shares [2] - 锦欣生殖 (01951) intends to repurchase shares for no less than HKD 100 million [2] - 小米集团-W (01810) repurchased 10 million shares for HKD 402 million on December 1 [2] - 腾讯控股 (00700) repurchased 102.9 million shares for HKD 636 million on December 1 [2] - 美的集团 (00300) repurchased 125.48 million A shares for HKD 9.9971 million on December 1 [2] - 中远海控 (01919) repurchased 94.5 million shares for HKD 12.76 million on December 1 [2] - 美丽田园医疗健康 (02373) saw non-executive director 李方雨 increase holdings by 41,500 shares [2] Operating Performance - 比亚迪股份 (01211) reported approximately 4.182 million electric vehicle sales in the first 11 months, a year-on-year increase of 11.3% [2] - 吉利汽车 (00175) achieved total vehicle sales of 2.78775 million units in the first 11 months, a year-on-year increase of 42% [2] - 长城汽车 (02333) reported approximately 1.19965 million vehicle sales in the first 11 months, a year-on-year increase of 9.26% [2] - 赛力斯 (09927) recorded total vehicle sales of 58,100 units in November, a year-on-year increase of 36.34% [2] - 蔚来-SW (09866) delivered approximately 36,300 vehicles in November, a year-on-year increase of 76.3% [2] - 小鹏汽车-W (09868) delivered 36,728 smart electric vehicles in November, a year-on-year increase of 19% [2] - 奇瑞汽车 (09973) reported total sales of 255,800 vehicles across five brands in November, a year-on-year decrease of approximately 2% [3] - 理想汽车-W (02015) delivered 33,181 new vehicles in November [3]

Group 1 - The core viewpoint of the news is the establishment of the "CITIC Construction Investment - Waigaoqiao Group Holding Real Estate Asset Support Special Plan," which is the first industrial plant-based asset-backed security (ABS) in the inter-institutional REITs market in China, with a total issuance scale of 1.83 billion yuan [1] - This project expands the asset range of inter-institutional REITs and creates a new equity financing channel for local state-owned enterprises, demonstrating a significant effect [1] - The underlying assets consist of four standard factory projects held by Waigaoqiao Group, located in the Waigaoqiao Free Trade Zone, with a total construction area of approximately 190,600 square meters and an average occupancy rate of 93.16% [1] Group 2 - Inter-institutional REITs are positioned as equity-type listed products and are an important part of building a multi-tiered REITs market, serving as an innovative tool for revitalizing existing assets and expanding effective investment [2] - Since the launch of the first inter-institutional REITs in 2023, the Shanghai Stock Exchange has successfully issued 20 projects with a total issuance scale exceeding 45 billion yuan, with nearly 1,200 billion yuan in total application scale [2] - The Shanghai Stock Exchange is committed to developing the inter-institutional REITs market while ensuring safety and focusing on the authenticity and reliability of underlying assets, as well as accurate and complete information disclosure [3] Group 3 - The Shanghai Stock Exchange aims to stimulate market vitality and ensure the market's sustainable and healthy development by respecting market rules and enhancing the market mechanism [3] - Future efforts will focus on organizing and building the inter-institutional REITs market ecosystem, promoting project implementation, and improving relevant mechanisms and supporting rules [3]

（原标题：优瑞科生物科技CEO刘诚：让世界读懂中国对全球新药研发的贡献） 美国优瑞科生物科技公司创始人兼CEO刘诚在接受南方财经全媒体集团记者采访时，强调中国举办更多 科学及新药研发领域国际会议与专题研讨会的重要性。他认为，这类专业交流不仅能够帮助全球更全 面、更深入地了解中国在相关领域的最新进展，也能让国际社会充分理解与认可中国科学家在全球药物 研发方面的贡献。 策划：赵海建 监制：黄燕淑 南方财经 21世纪经济报道记者 黄子豪 庄欢 郑全怡 广州报道 11月30日至12月1日，2025年"读懂中国"国际会议在广州举行。大会以"新布局、新发展、新选择——中 国式现代化与全球治理新格局"为主题，汇聚全球知名政治家、学者、业界领袖及国际组织代表等重量 级嘉宾，聚焦"十五五"规划及其世界意义，就中国式现代化创新发展的新布局及其为世界现代化提供的 新机遇，携手践行全球治理倡议等相关议题展开研讨。 海外运营监制: 黄燕淑 海外运营内容统筹: 黄子豪 海外运营编辑：庄欢 吴婉婕 龙李华 郑全怡 出品：南方财经全媒体集团 内容：黄子豪 庄欢 郑全怡 ...

Core Viewpoint - SystImmune has received a milestone payment of $250 million from BMS as part of a collaboration agreement for the development and commercialization of the BL-B01D1 project, a dual-target ADC with significant clinical value and market potential [1][3]. Group 1 - SystImmune is focused on addressing unmet clinical needs in the field of biomedicine, particularly in tumor macromolecule therapies, and aims to establish global commercialization capabilities by 2029 [1]. - The collaboration agreement includes an upfront payment of $800 million from BMS, with potential additional payments reaching up to $5 billion based on specific milestones, and a total potential deal value of up to $8.4 billion [2]. - As of March 7, 2024, SystImmune has received an irrevocable and non-deductible upfront payment of $800 million from BMS [2]. Group 2 - SystImmune will be exclusively responsible for the development and commercialization of BL-B01D1 in mainland China, while BMS will handle the development and commercialization in other global regions [2]. - The agreement stipulates that SystImmune is eligible for additional payments of up to $250 million based on recent or contingent milestones, and up to $7.1 billion upon achieving specific development, registration, and sales milestones [3].

广州瑞安博医药科技有限公司，成立于2021年，位于广州市，是一家以从事研究和试验发展为主的企 业。企业注册资本8448万人民币，实缴资本8448万人民币。 11月30日消息，据CDE官网沟通交流公示，于11月30日收到广州瑞安博医药科技有限公司申请的"II类 会议"，当前状态"处理中"。 根据《药物研发与技术审评沟通交流管理办法》（2020年第48号通告），沟通交流会议分为Ⅰ类、Ⅱ类 和Ⅲ类会议，就关键阶段重大问题进行沟通交流。Ⅱ类会议一般安排在申请后60日内召开，系指为药物 在研发关键阶段而召开的会议，主要包括下列情形：新药临床试验申请前会议、药物Ⅱ期临床试验结 束/Ⅲ期临床试验启动前会议、新药上市许可申请前会议、风险评估和控制会议。 通过天眼查大数据分析，广州瑞安博医药科技有限公司专利信息10条，此外企业还拥有行政许可3个。 主要股东信息显示，广州瑞安博医药科技有限公司由广州瑞奥生物医药科技有限公司持股84.7508%、 ARTHROSI THERAPEUTICS,INC.持股15.2492%。 来源：市场资讯 ...

Core Viewpoint - The biotechnology company Baiaosaitu (688796.SH) has launched its IPO on the Shanghai Stock Exchange's STAR Market, with an issue price of 26.68 yuan per share, aiming to raise approximately 1.144 billion yuan through the issuance of 47.5 million new A-shares, representing 10.63% of the company's total share capital [1] Group 1: Company Overview - Baiaosaitu was established in 2009 and is headquartered in Beijing, with branches in China (Haimen, Shanghai), the United States (Boston, San Francisco, San Diego), and Germany (Heidelberg), showcasing strong global expansion capabilities [1] - The company has signed approximately 300 antibody collaboration agreements as of mid-2025, positioning itself as a significant enabler in global antibody drug development [1] - As of June 30, the company has obtained 195 authorized patents and submitted 496 patent applications, creating a solid competitive moat and providing bargaining power in international business development negotiations [1] Group 2: Financial Performance - For the first half of 2025, the company reported revenue of 621 million yuan, a year-on-year increase of 51.5%, and a net profit of 48 million yuan, surpassing the total for the previous year [2] - The operating cash flow has turned positive, demonstrating strong self-sustaining capabilities [2] - Revenue from the humanized mouse business reached 274 million yuan, up 56.1% year-on-year, with a gross margin of 79% [2] - Revenue from antibody molecule transfer and development business amounted to 163 million yuan, reflecting a year-on-year growth of 38% [2] - The company maintained high R&D investment, with R&D expenses reaching 209 million yuan in the first half of 2025, a 29% increase year-on-year [2]

Core Viewpoint - The establishment of a national university science and technology park and the biopharmaceutical industry investment conference in Nanjing's Gulou District aims to foster collaboration and innovation in the biopharmaceutical sector, with 20 industry projects signed on-site [1][2]. Group 1: Industry Development - The biopharmaceutical industry is a strategic emerging industry crucial for national economy and public health, serving as an important indicator of regional technological innovation capabilities [2]. - Gulou District has a robust foundation for biopharmaceutical development, featuring 7 medical universities, 11 registered clinical trial institutions, 12 tertiary hospitals, over 460 medical institutions, and more than 600 enterprises in the life and health industry [2]. - The life and health industry in Gulou District generated over 50.9 billion yuan in revenue last year, with large-scale enterprises contributing 17 billion yuan and medical institutions contributing 33.9 billion yuan [2]. Group 2: Collaborative Initiatives - The Nanjing Biopharmaceutical Innovation and Transformation Research Institute, led by China Pharmaceutical University, aims to create a top-tier domestic and international biopharmaceutical achievement transformation platform, with 7 new projects signed for incubation [3]. - The projects include the development of a universal tumor vaccine and an OTC mRNA-LNP nucleic acid drug for liver cancer and fibrosis [3]. Group 3: Infrastructure and Ecosystem - A new national university science and technology park is being established through a partnership between China Pharmaceutical University and Gulou District, focusing on organized research and regional collaboration [4]. - The park will integrate resources from surrounding research institutions, universities, and top-tier hospitals to promote research, technology transfer, industry incubation, financial investment, talent development, and public services [4]. Group 4: Funding and Support - A technology innovation and research transformation alliance has been launched, including major hospitals and institutions in Jiangsu Province [5]. - A biopharmaceutical research and transformation fund has been established, supported by Gulou District, China Pharmaceutical University, and investment firms, aimed at financing biopharmaceutical innovations [5]. - The "Yao Yuan Hui" platform will provide a full lifecycle service system to facilitate the transformation of innovative results [5].

Group 1: Overview of Shanxi's Overseas Chinese Affairs - Shanxi has over 600,000 overseas Chinese and returned overseas Chinese, with around 70 overseas Chinese organizations, making it a province with limited overseas Chinese resources [2] - The province aims to transform its rich cultural resources into overseas Chinese affairs resources, focusing on the themes of "roots, soul, and dreams" in its new era overseas Chinese work [2][5] - Shanxi is deepening its efforts in areas such as networking, investment attraction, cultural heritage, and grassroots governance to enhance its overseas Chinese initiatives [2] Group 2: Cultural Engagement and Identity - Shanxi has established connections with over 300 overseas Chinese organizations across more than 30 countries and regions, expanding its global network [3][7] - The province emphasizes the importance of cultural identity among overseas Chinese, organizing activities like the "Seeking Roots in Shanxi" and "Jin Qiao Jin Yun" programs, which have attracted over 5,000 overseas Chinese youth for cultural exchanges [7] - The 36th Guan Gong Cultural Tourism Festival held in September highlights the significance of Guan Gong culture as a spiritual bond for global overseas Chinese [6] Group 3: Economic Contributions and Talent Return - Shanxi is leveraging the talents of overseas Chinese to boost local economic development, exemplified by the participation of overseas Chinese entrepreneurs in international exhibitions [8][10] - The province has established a new overseas Chinese innovation and entrepreneurship base, supporting local businesses and facilitating international trade [10] - Initiatives like the establishment of the Shanxi Overseas Students Association aim to provide entrepreneurial guidance and project incubation for returned overseas Chinese [10] Group 4: Legal and Community Support - Shanxi has implemented a judicial collaboration mechanism to protect the rights of returned overseas Chinese and overseas Chinese, enhancing legal services and support [13][15] - Community engagement efforts, such as the "Tea Talk" events, have successfully addressed legal issues faced by overseas Chinese, demonstrating the province's commitment to grassroots governance [14][15] - The establishment of a mediation committee by the Shanxi Guangdong Chamber of Commerce reflects the province's proactive approach to resolving legal disputes for overseas Chinese [15]