Core Insights - Changsha aims to become a global research and development center city, with significant advancements in innovation and technology over the past two years [1][3] - In 2024, Changsha ranked 32nd in the global technology cluster list and 23rd in global research cities, marking improvements of 9 and 11 positions respectively since 2022 [2] - The number of research and development institutions in Changsha reached 3,823 by May 2024, with 1,796 new institutions established since September 2023, effectively doubling the total [2] Group 1: Development and Achievements - The "1+2" national laboratory system is being rapidly constructed, with 35 national key laboratories undergoing restructuring and the number of national technology innovation centers increasing to three [2] - The establishment of 68 research and development centers by central enterprises and "three types of 500 strong" companies has been achieved [7] - The Changsha Industrial Innovation Center has produced original results that have been transformed into practical applications, contributing to high-quality industrial development [7] Group 2: Economic Growth and Corporate Success - Megmeet Group's revenue grew by 21% in 2024, supported by its global research and development center established in Changsha [5] - Hunan Saino Biotechnology Co., Ltd. is leading in xenotransplantation research and has developed gene-edited pigs for practical applications [12] - The number of high-tech enterprises in Changsha reached 8,609, a 29% increase, and the number of national specialized and innovative "little giant" enterprises grew by 51% to 213 [12] Group 3: Talent and Innovation Ecosystem - Changsha has introduced 1,000 high-level scientific and technological talents and 223 leading talents in high-precision fields over the past two years [19] - The city has implemented a "golden seed" plan to support university students' innovation and entrepreneurship, recognizing them as valuable resources for future development [21] - Changsha is enhancing its global innovation network, with nearly 100 international scientific cooperation projects implemented [21]

Group 1 - In 2024, Changsha ranked 32nd in the global technology cluster and 23rd in global research cities, improving by 9 and 11 positions respectively since 2022 [1] - The number of various R&D institutions in Changsha reached 3,823 by May 2023, with 1,796 new institutions established since September 2023, effectively doubling the total [1][13] - The "1+2" national laboratory system is being rapidly constructed, with 35 national key laboratories being reorganized and the total number of national technology innovation centers increasing to 3 [1][22] Group 2 - Changsha is recognized as a key driver for high-quality development and international competitiveness, with a consensus on building it into a global R&D center city [2][3] - The local government emphasizes prioritizing optimal land for research institutions and the best facilities for innovative enterprises [2] Group 3 - The establishment of the global R&D center by Magmeter in Changsha has led to a 21% revenue growth for the company last year [6] - Magmeter operates in over 30 countries, with its global R&D center in Changsha supporting its extensive product development [7][9] Group 4 - The Yue Lu Mountain Industrial Innovation Center has produced numerous original achievements that have been transformed into practical applications, contributing to high-quality industrial development [10][12] - The center has developed key materials and core processes for the comprehensive utilization of industrial solid waste, with significant market success [11][12] Group 5 - Changsha has seen a 29% increase in the number of high-tech enterprises, reaching 8,609, and a 51% increase in national-level specialized and innovative "little giant" enterprises, totaling 213 [21] - The city has implemented a comprehensive support system for technology transfer and innovation, including financial backing and service enhancements [29][30] Group 6 - Changsha is focusing on future industries such as artificial intelligence, quantum technology, and genetic technology, with a significant increase in the number of unicorn companies [32] - The city has improved talent quality, attracting over 1,000 high-level scientific talents and increasing the number of foreign experts by nearly 10% annually [33] Group 7 - The construction of a global R&D center city is seen as essential for developing new productive forces and modern industrial systems, with significant progress in national laboratory systems and key research projects [22][24] - Changsha aims to integrate technology innovation with industrial transformation, enhancing its role in the global innovation network [34][35]

A股新股数量和融资总额均同比上升14%。 本文为IPO早知道原创 作者｜ 罗宾 微信公众号｜ipozaozhidao 据 IPO 早知道消息， 6 月 19 日，德勤中国资本市场服务部发布了中国内地及香港 IPO 市场 2025 年上半年回顾与前景展望。 2025 年上半年，港交所凭借多只超大型新股荣升新股融资额第 一，纳斯达克和纽交所分列第二和第三，东京证券交易所排名第五，上交所和深交所排名第七和第 八。 全球前十大新股融资规模较去年同期增长 17% 。 展望前景，目前香港有超过 170 宗正在处理的上市申请个案，包括超过 5 家公司每家或会融资最少 10 亿美元，德勤 中国资本市场服务部 预计 2025 年全年香港新股市场将从 80 只新股融资 2,000 亿港元。除了年内或会有 25 只 A+H 新股外，大部份的上市项目将会来自 TMT 及消费行业。 德勤中国资本市场服务部华东区上市业务合伙人鲍捷指出： "只要未出现重大负面的地缘政治或宏观 经济干扰 , 我们对香港在 2025 年具备条件争取全球 IPO 市场领先地位持审慎乐观态度。这份信心 源自强劲的申请上市名单、日益增强的市场动力，以及整体转趋有利 ...

Group 1 - The core viewpoint emphasizes the importance of building a strong technological nation as a strategic deployment by the Chinese government, which has significant and far-reaching implications for national rejuvenation and modernization [1] - The integration of technological innovation and industrial innovation is identified as an intrinsic driving force and key measure for developing new quality productivity [3][4] - The need to enhance high-quality technological supply and focus on key areas such as integrated circuits and advanced materials is highlighted to ensure the safety and control of important industrial chains [4][5] Group 2 - Enterprises are recognized as the main participants in economic activities and the primary drivers of technological progress, playing a crucial role in the deep integration of technological and industrial innovation [5][6] - The importance of promoting the transformation and application of technological achievements is stressed, with a focus on establishing a national technology transfer system and enhancing the verification platforms for key industries [6][8] - The necessity of strengthening the leadership of the Communist Party in technological innovation and improving the management system for national technology projects is emphasized [9][10] Group 3 - The construction of national strategic technological forces is essential, particularly in key core technology areas where China still lacks foundational capabilities [10][11] - The need for a comprehensive reform of the technological system to enhance independent innovation capabilities and address systemic barriers is highlighted [19][20] - The integration of education, technology, and talent development is crucial for fostering a robust innovative workforce and supporting the construction of a technological power [22][23]

Core Viewpoint - The sixth Multinational Corporation Leaders Qingdao Summit highlighted the "Investment in China" investment exchange cooperation meeting, showcasing typical cases of multinational companies aiding Shandong's green, low-carbon, and high-quality development [1][4]. Group 1: Investment Projects - The investment exchange meeting presented 10 typical cases selected from 52 submissions across 16 cities in Shandong, demonstrating the collaborative efforts between multinational companies and Shandong in pursuing green development [4]. - SKF Group, the world's largest bearing manufacturer, invested 500 million yuan in Jinan to expand its factory and establish a global commercial vehicle R&D center [4]. - AstraZeneca, a Fortune 500 company, invested 750 million USD in Qingdao to build a zero-carbon inhalation aerosol production base and regional headquarters [4]. - Hexagon, the largest manufacturer of coordinate measuring instruments globally, invested 2.1 billion yuan in Qingdao to create a technology R&D center and Greater China headquarters [4]. Group 2: Strategic Partnerships - Kuwait Petroleum Company acquired a 25% stake in Wanhua Chemical through capital increase and merger, with foreign investment amounting to approximately 638 million USD [5]. - OSI Group, an American company, established its tenth factory in China in Weihai, with a total foreign investment exceeding 140 million USD over two years [6]. - Henkel, a Fortune 500 company, invested 120 million euros in Yantai to create its largest single investment project globally [7]. - Komatsu, another Fortune 500 company, invested 10.6 billion yuan to build a global smart manufacturing industrial base in Jining [8]. - Eagle Group from Singapore invested approximately 11 billion yuan in a 600,000-ton lyocell fiber project in Jining, while Asia Pacific Forestry's projects in Rizhao accumulated nearly 30 billion yuan in investment [8]. - ZF Friedrichshafen, a German Fortune 500 company, made three consecutive capital increases totaling 140 million euros to establish a safety airbag integrated project globally for the first time in Rizhao [8]. - Cigna Group, a Fortune 500 company, has cumulatively invested 580 million USD in a biotechnology project in Liaocheng, with 10 expansions since 2004 [9].

Core Points - The Hong Kong Biotechnology Index (CESHKB) experienced a decline of 3.05%, closing at 7087.18 points with a trading volume of 11.816 billion [1] - Over the past month, the index has increased by 26.57%, by 25.92% over the last three months, and has risen 63.14% year-to-date [1] - The index is compiled by China Securities Index Co., Ltd. under the commission of China Securities Trading Service Co., Ltd. and aims to reflect the overall performance of biotechnology companies listed in Hong Kong [1] Index Composition - The top ten weighted stocks in the index include: - CanSino Biologics (10.86%) - Innovent Biologics (10.22%) - WuXi Biologics (9.54%) - BeiGene (9.36%) - 3SBio (7.95%) - Zai Lab (6.01%) - WuXi AppTec (5.63%) - Kelun-Biotech (5.20%) - Genscript Biotech (4.44%) - Ascentage Pharma-B (3.91%) [1] Market and Industry Overview - The index's holdings are entirely composed of stocks listed on the Hong Kong Stock Exchange, with a 100% representation in the pharmaceutical and healthcare sector [2]

文/《清华金融评论》 王茅 就在昨天（ 6月18日），证监会发布了一条重磅政策——制定了 《科创 板意见》， 若能够顺利实施，将在很大程度上解决A股长期以来面临的一 个"痛点"，那就是具有潜力，但尚未实现盈利的科技公司不得已到香港、 美国上市的情况。这个问题如果得到解决，A股未来也将诞生自己的高科 技"独角兽"，值得期待。 长期以来，不少硬科技公司、有成长性的公司，往往选择赴香港、美国上市，原因在于以前A股没有可 以让这些公司上市的合适路径与渠道，这些公司有个硬伤——尚未实现盈利。 证监会制定《科创板意见》，为尚未盈利的硬科技公司上市打开一扇门 证监会制定了《关于在科创板设置科创成长层增强制度包容性适应性的意见》（以下简称《科创板意 见》），为尚未实现盈利的硬科技公司的上市打开了一扇门。 《科创板意见》里，最关键的就是设置科创成长层，允许那些还没有实现盈利，但是已实现技术突破， 同时研发投入高、商业前景广阔的硬科技公司先"上市"。 科技是第一生产力，虽然科技公司前景广阔，但天然带有风险性。科技的变化可以说是日新月异，如果 上市了，最终又没能实现盈利，被淘汰出局，这将是普通投资者无法承受之重。这就是A股一直以来 ...

2024年12月2日，Cloudbreak Pharma Inc.(简称"拨康视云")向港交所递交招股书，拟香港主板挂牌上市。 这是继其于2023年11月30日、2024年5月31日递表失效后的再一次申请。 | 纂]的[编纂]數目 | .. | [編纂]股股份(視乎[編纂]行使與否而定) | | --- | --- | --- | | [编纂]數目 | . | [编纂]股股份(可予調整) | | [编纂]數目 | . | [编纂]股股份(可予重新分配及視乎[编纂]行 | | | | 使與否而定) | | 最高[编纂] | .. | 每股股份[編纂]港元,另加1.0%經紀佣金、 | | | | 0.0027％證監會交易徵費、0.00565％聯交 | | | | 所交易費及0.00015%會財局交易徵費(須於 | | | | 申請時以港元繳足,可予想還) | | 面值 | : | 每股股份0.0001美元 | | 股份代號 | : | 0 | 拨康视云招股书链接： https://www1.hkexnews.hk/app/sehk/2024/106945/documents/sehk24120204025.pdf ...

智通财经APP获悉，中国证监会主席吴清在6月18日举行的2025陆家嘴论坛上表示，证监会将在创业板 正式启用第三套标准，支持优质未盈利创新企业上市。 据了解，创业板第三套标准发布于2023年2月，对比科创板对未盈利企业的上市要求，创业板第三套标 准将预期市值提升至50亿元，并增加了3亿元的营收要求，但未明确对"企业研发成果"的要求。对于具 有表决权差异安排企业、红筹企业，可以选择相应上市标准申请首发上市，但前期未有案例落地。 市场认为创业板"激活"第三套上市标准，回应了呼吁已久的制度突破，能够更好发挥资本市场枢纽功 能。前海开源基金首席经济学家杨德龙表示，创业板支持优质未盈利创新企业上市等措施，有利于加大 资本市场对科技创新企业的支持，让科技创新企业可以登陆资本市场获得宝贵资本，从而有助于发展新 质生产力。 就在6月10日，中办、国办印发了《关于深入推进深圳综合改革试点深化改革创新扩大开放的意见》。 其中提到，允许在香港联合交易所上市的粤港澳大湾区企业，按照政策规定在深圳证券交易所上市。 智能驾驶港股上市企业佑驾创新(02431)对智通财经表示，深交所创业板支持优质未盈利创新企业上 市，与一周前中办、国办印发 ...

从市场驱动逻辑来看，A股市场当前的调整更多受到内部技术面与地缘政治风险的拖累，而 港股市场则在一定程度上受到全球市场流动性和投资者情绪的影响。 A股中，银行、电子、家用电器等蓝筹或周期性较强的板块表现相对抗跌，跌幅集中在0.23%至0.56%之 间，显示出市场在结构性调整中，对基本面稳健、估值合理的行业仍有一定支撑。与此同时，部分科技 成长板块逆势表现活跃，如受第五届中国国际固态电池科技大会即将举行等消息催化，固态电池相关领 域呈现强势；受益于AI需求拉动的PCB概念，以及因国际人形机器人专业展即将举办而走强的机器人板 块均有良好表现。相反，国防军工、美容护理、有色金属等板块跌幅较大，尤其是国防军工板块，跌幅 达2.58%；可控核聚变、减肥药等题材则调整明显，表明这些受政策预期和外部环境影响较大的行业在 当前阶段面临一定压力。 港股方面，日常消费品经销与零售、生物科技等板块跌幅较大，其中日常消费品经销与零售板块跌 3.67%，生物科技板块跌3.96%，显示出在当前市场环境下，投资者对高估值的成长型行业信心有所减 弱。医疗保健业、原材料业、工业等指数跌幅亦较为显著；而金融服务和房地产相关板块也出现了不同 程度的 ...