一口气官宣市级低空经济产业基金、Pre-REITs基金、两支AIC基金落地、千亿元综合授信……12月9日，龙华区在国际合作中心召开产融结合高质量发展大 会，集中发布一批标志性产融结合成果。 其中尤为引人瞩目的是，龙华区官宣落地百亿级战新产业基金集群，里面规模最大的两支基金总规模均为20亿元，分别为深资本建信龙华AIC基金和深担农 银龙华AIC基金。记者在现场了解到，该基金集群将重点布局深圳市"20+8"产业集群和龙华区"1+2+3"产业体系中的数字经济、新能源、高端医疗器械、集 成电路、人工智能等赛道。 深圳·龙华 2025·第一届深圳市友 产融结合高质量发展 Stan Pal 199 700 2025.12 深圳商报·读创客户端首席记者 谢惠茜 "高科技企业面临的不仅是融资难、融资贵问题，更需要资本带动的全产业链赋能，本次大会为资金方、产业方、企业方精准对接，协同联动搭建了很好的 平台。"参加本次大会的龙华区一家专精特新企业欣界能源相关负责人提到。作为龙华区深耕eVTOL固态电池领域的小巨人企业，欣界能源刚刚完成数亿元 的A轮融资。 2025年前三季度，龙华区先进制造业发展保持强劲势头，全区工业增加值同比增 ...

Core Viewpoint - The pharmaceutical and biotechnology market currently lacks a clear main theme, but the release of the first "Medical Insurance + Commercial Insurance Dual Directory" by the National Healthcare Security Administration on December 7 may boost investment enthusiasm for innovative drugs [1] Market Performance - Last week, the pharmaceutical and biotechnology sector had a return of -0.74%, underperforming the CSI 300 by 2.02%, ranking 21st among 31 primary sub-industry indices [2] - The pharmaceutical commercial sub-sector had the highest weekly return at 5.19%, outperforming the CSI 300 by 3.91%, while the medical services sub-sector ranked sixth with a return of -1.37%, underperforming the CSI 300 by 2.65% [2] Innovative Drugs - Companies recommended for investment in innovative drugs include: - Innovent Biologics - 3SBio - Hengrui Medicine - Kelun-Biotech - Baillie Gifford - Rongchang Biologics - Yimeng Biologics - Huyou Pharmaceutical - King’s Ray Biotech - Valiant Biotech - Lee's Pharmaceutical [2] CXO and Life Sciences Upstream Industry Chain - Recommended global CXO leaders include: - WuXi AppTec - WuXi Biologics - WuXi AppTec's subsidiary - Kanglong Chemical - Kailai Ying [3] - Recommended domestic clinical CRO leaders include: - Tigermed - Proprius - Nossg - Sunshine Nuohe [3] - Recommended resource-type CXOs include: - Zhaoyan New Drug - Yinos - Medicy - Baiaosaitu - Yaokang Biotech [3] - Recommended companies in the life sciences upstream industry chain include: - Baipusais - Haoyuan Pharmaceutical - Bid Pharmaceutical - Nami Technology - Aopumai - Haier Biomedical - Aladdin - Titan Technology [3] Companies with Improved Operations and High Dividends - Companies recommended for attention include: - Baiyunshan - Sinopharm [4] High-end Medical Equipment - Recommended companies benefiting from overseas pharmaceutical investments include: - Sensong International - Dongfulong - Chutian Technology [4] - Companies expected to see business growth from hospital procurement recovery include: - United Imaging - Kaili Medical - Xinhua Medical - Mindray Medical - Aohua Endoscopy - Mountain Outside Mountain [4] - Companies with domestic demand-driven medical device recovery include: - Yiyue Medical - Kefu Medical - Sanofi Biotech [4] - Companies with restored overseas orders include: - Meihua Medical - Haitai New Light - Ruimaite [4] - Companies with increasing market penetration in high-end medical consumables include: - Xinmai Medical - Micron Medical - Weigao - Micron Brain Science - Aikang Medical - Chunli Medical [4]

Investment Rating - The report maintains an investment rating of "Positive" for the pharmaceutical and biotechnology industry [2]. Core Viewpoints - The recent release of the "Medical Insurance + Commercial Insurance Dual Directory" by the National Medical Insurance Administration is expected to boost investment enthusiasm for innovative drugs. The report suggests focusing on investment opportunities in innovative drugs, CXO, and the upstream life sciences industry chain [3][9]. - The pharmaceutical sector is currently experiencing a lack of clear market direction, with the pharmaceutical commercial sector leading in performance. Notable stocks include Haiwang Biological (up 55.59%), Ruikang Pharmaceutical (up 36.54%), and Yue Wannianqing (up 15.37%) [3][9]. - The report emphasizes the importance of companies with stable dividends and operational improvements, as well as potential turning points in high-end medical devices [3][11]. Summary by Sections 1. Market Performance - The pharmaceutical and biotechnology sector's return was -0.74% last week, underperforming the CSI 300 by 2.02%, ranking 21st among 31 primary sub-industry indices. The pharmaceutical commercial sector had the highest weekly return at 5.19% [3][7]. - Over the past month, the sector's return was -2.35%, also ranking 20th among sub-industry indices, with the pharmaceutical commercial sector leading at 5.78% [3][7]. 2. Innovative Drugs - The report recommends focusing on companies with leading product pipelines and market potential, including Innovent Biologics, 3SBio, Hengrui Medicine, and others [3][9][10]. 3. CXO and Upstream Life Sciences - Key CXO companies to watch include WuXi AppTec, WuXi Biologics, and others. The report also highlights clinical CRO leaders and resource-based CXOs [10]. 4. High-End Medical Devices - The report identifies several companies in the high-end medical device sector that may benefit from market recovery and increased demand, including Mindray Medical and others [11]. 5. Valuation Metrics - The current PE (TTM) for the pharmaceutical and biotechnology industry is 29.27 times, which is below the historical average of 30.88 times over the past five years [12][15].

高能同步辐射光源航拍图 北京日报记者刘苏雅配图 从京北的空中俯瞰，高能同步辐射光源如同一只巨型"慧眼"，静卧于怀柔的青山绿水间，探寻物质的微观奥秘； 穿行于中关村科学城，人工智能大模型在领先全球的"AI浓度"中加速迭代，奔涌出日新月异的智能浪潮；视线跃 至亦庄，一辆辆自动驾驶车从这里出发，驶向新加坡、中东、欧洲等全球各地。五年间，创新潮涌，一场深刻的 城市蝶变在京华大地上演。 创新驱动 成果泉涌 从一人高的机器人"盖博特"手中接过一瓶绿茶饮料后，来自俄罗斯金砖国家电视台的执行制片人齐马科瓦·尼娜 （Zimakova Nina）不禁感慨，自己亲眼见证了科幻电影走进现实。"相信在未来，它们不仅在北京，在中国，还 会走向世界。" 在中关村国际创新中心，一款名为"盖博特"的机器人在为顾客取商品。新华社 尼娜脚下的中关村鼎好DH3大厦，身处一场席卷全球的人工智能变革。这场变革的"风暴眼"之一，正是北京。 在这里，变革正在每一个角落发生：具身智能机器人不再是实验室的概念产品，而是穿梭在餐厅、便利店、办公 楼宇提供即时服务的助手；人工智能大模型密集涌现，备案上线数量占到全国近三分之一；全球首个纯电驱拟人 奔跑全尺寸人形机器 ...

Core Insights - China's innovative drugs, new energy vehicles, and AI electronic products have emerged as the new three major export items, with innovative drug licensing output reaching $93.7 billion in the first three quarters of 2025, accounting for nearly 40% of the global total, reflecting the strong momentum of China's high-quality development [1][24]. Group 1: Major Technological Achievements - The launch of the National Bio-Manufacturing Industry Innovation Center, led by the Shenzhen Institute of Advanced Technology, marks China's only national-level innovation platform in the bio-manufacturing sector, focusing on green low-carbon, bio-agriculture, and medical health [3]. - The completion of the second phase of the Seventh Affiliated Hospital of Sun Yat-sen University in Shenzhen, a modern hospital designed with a patient-centered approach, aims to enhance healthcare innovation in the region [5]. - The Shenzhen Science and Technology Innovation Fund officially commenced operations, aiming to support original innovation and technology breakthroughs through early-stage investments [7]. Group 2: Infrastructure and Collaboration - The establishment of user committees for major scientific infrastructures like synthetic biology research facilities and brain analysis facilities will ensure efficient operation and high-level research output [9]. - The unveiling of the Regional Technology Transfer and Transformation Center for Higher Education Institutions in the Guangdong-Hong Kong-Macao Greater Bay Area will accelerate the conversion of academic research into practical applications [11]. - The emphasis on open collaboration has led to the formation of a global innovation network, enhancing regional cooperation and attracting international research institutions to participate in the development of the Guangming Science City [12]. Group 3: Talent and Innovation Ecosystem - Over the past seven years, Guangming Science City has attracted more than 3,100 high-level talents, including 59 academicians, forming a robust talent pool that supports innovation in fields like brain science and artificial intelligence [24]. - The establishment of a comprehensive open-sharing mechanism for major scientific infrastructures has allowed over 200 users, including universities and research institutions, to access advanced research facilities [25]. - The rise of industrial innovation has led to the development of several billion-dollar industry clusters, including high-end medical devices and synthetic biology, fostering a deep integration of technological and industrial innovation [26].

12月2日，深圳市政府新闻办举行光明科学城论坛·2025新闻发布会。据悉，由深圳市政府主办的光明科 学城论坛·2025将于12月4日至5日举办，在"光明·筑梦未来"永久主题下，以"开放""智创""领航"为年度 主题词。 本届论坛将采取"1+1+7"形式开展，即1场开幕式、1场全体会议、7场平行论坛。值得关注的是，论坛 上将举行国家生物制造产业创新中心启动试运行、全国高校区域技术转移转化中心(粤港澳大湾区)高端 科学仪器深圳分中心揭牌等一系列重大成果发布活动。 光明科学城聚集颜宁等高层次人才超3000人 发布会上介绍了光明科学城的最新发展情况。据悉，布局在光明科学城的合成生物、脑解析与脑模拟、 材料基因组等首批装置高效投入运行，累计服务高校、科研机构、企业等用户超过200家，开放设备有 效"机时"超过33万小时。其中，依托合成生物研究设施产生的二氧化碳还原合成葡萄糖及脂肪酸技术、 绘制人体免疫发育图谱等科技成果入选中国十大科技进展。与此同时，鹏城云脑Ⅲ、自由电子激光等一 批"国之重器"正在加快建设。 深圳理工大学、中山大学深圳校区、深圳医学科学院、深圳湾实验室、人工智能与数字经济广东省实验 室(深圳)等一大批新 ...

12月2日，深圳市政府新闻办举行"光明科学城论坛·2025"新闻发布会。 21世纪经济报道记者现场获悉，由深圳市政府主办的光明科学城论坛·2025将于12月4日至5日举办，论坛上将有系列重大成果发布，包括国家生物制造产业 创新中心启动试运行、全国高校区域技术转移转化中心（粤港澳大湾区）高端科学仪器深圳分中心揭牌、中山大学附属第七医院二期建成、光明科创母基金 设立、合成生物及脑解析与脑模拟设施用户委员会成立等。 据介绍，光明科学城自2018年规划建设以来，深圳拿出超常规力度，集中布局一批大科学装置、2所高水平研究型高校、2个广东省实验室、11个科研机构。 如今，光明科学城聚集颜宁、杨学明、樊建平等知名院士在内的高层次人才超3000人，连续3年入选全国科技城百强榜，2024年排名跃升至第7位，创新能力 和综合竞争力居全国前列。 （发布会现场。图源：深圳发布） "国之重器"加速落地 据深圳市发展改革委副主任朱云介绍，光明科学城作为大湾区综合性国家科学中心先行启动区的重要组成部分，建设已取得阶段性成效。 在设施集群方面，合成生物、脑解析与脑模拟、材料基因组等首批装置高效投入运行，累计服务高校、科研机构、企业等用户超2 ...

近日，国内稀缺的专注于"血液流向管理"的平台型介入创新企业江苏臻亿医疗科技有限公司（以下简称"臻亿医疗"）宣布完成C轮数亿元融资。本轮融资 由东方富海、国元股权、厦门产投/创投、厦金创新、博正资本、思明科创等联合投资，老股东生命树资本继续加持。此次C轮融资是臻亿医疗在短短数年 内完成的多轮重要资本动作之一，资本持续追投，体现了市场对公司平台化布局、技术创新能力及商业化前景的高度认可，也标志着国产心血管介入企业 在高端器械领域的突破进入新阶段。 臻亿医疗成立于2019年，着重专注致死致残率极高且国内市场仍是空白的心血管疾病领域，以"臻于至善，亿万之重"为使命，迅速崛起成为中国高端医疗 器械行业中一股不可忽视的新兴力量。企业业务全面覆盖心脏瓣膜、外周、冠脉等多个介入治疗领域，是率先在全球范围内实现血液流向管理一站式创新 解决方案的平台化企业。成立至今，公司保持高速成长节奏，2023年完成B+轮融资后，公司研发、注册与临床推进全面加速。此次C轮融资的成功，为其 进入规模化商业阶段与国际化拓展阶段提供了坚实支撑。 中伦律师事务所为臻亿医疗本次融资提供了全流程法律服务，包括起草、修改交易文件，商务谈判，协助完成交割等法 ...

第十五届全国运动会火炬传递现场，乐聚（深圳）机器人技术有限公司研发的人形机器人"夸父"作为火 炬手，完成无操控、无陪跑的自主传递；开幕式上，3台优必选人形机器人精准协同，敲响"青铜句 鑃"…… 它们都来自广东深圳"机器人谷"，这里汇聚了上百家机器人企业、近10所高校和科研机构，高校实验室 与工厂生产线仅一街之隔，"楼上楼下"即产业链上下游，科技创新和产业创新深度融合。 2023年4月，习近平总书记在广东考察时强调："要强化企业主体地位，推进创新链产业链资金链人才链 深度融合，不断提高科技成果转化和产业化水平，打造具有全球影响力的产业科技创新中心。"2025年 11月，习近平总书记在广东考察时指出："着眼发展新质生产力，强化科技创新和产业创新深度融合， 建设具有国际竞争力的现代化产业体系。" 深入贯彻落实习近平总书记重要指示精神，广东坚持以制度创新搭平台、建生态、优环境，强化科技创 新和产业创新深度融合，为培育发展新质生产力注入新动能。 打造创新平台，推动产研深度融合。 走进位于深圳龙华区的国家高性能医疗器械创新中心（以下简称"国创中心"），研发人员正在忙碌。这 里诞生了首台国产体外膜肺氧合系统（ECMO）等多 ...

Core Viewpoint - Guangdong Province has released a financial support plan for enterprises to conduct industrial chain integration and mergers, aiming to resolve structural contradictions in key industries and promote high-quality development of the industrial chain [1] Group 1: Objectives and Goals - The plan aims to enhance the competitive advantage of industrial clusters in the Guangdong-Hong Kong-Macao Greater Bay Area by 2027, improving the efficiency of integration and merger services and establishing a more robust collaborative mechanism [1] - The overarching goal is to better serve the construction of Guangdong's modern industrial system and the high-quality development of the economy and society [1] Group 2: Financial Support Measures - The plan proposes a comprehensive financial support system to empower collaborative development among upstream and downstream enterprises in the industrial chain, focusing on encouraging mergers and acquisitions, enhancing competitiveness, and broadening financing channels [2] - Specific measures include supporting listed companies in utilizing various payment tools for mergers and acquisitions, establishing industry acquisition funds, and integrating mergers and asset revitalization into state-owned enterprise assessment systems [2][3] Group 3: Investment and Financing Strategies - The plan encourages the establishment of a comprehensive service platform for enterprise listings, supporting technology-driven companies to list on various stock exchanges, thereby broadening financing channels [3] - It emphasizes the creation of a full-chain investment system involving angel investment, venture capital, private equity, and acquisition funds, with a focus on key sectors such as chip manufacturing and high-end medical devices [3]