Group 1 - The third China International Supply Chain Promotion Expo showcased an innovation chain area focused on intellectual property transformation, highlighting the full chain conversion path from basic research to market feedback [1][2] - The National Intellectual Property Administration set up a booth to display recent advancements in intellectual property protection and a platform for patent activation, facilitating real-time patent information queries and technology demand postings [2][3] - The technology contract transaction volume related to patents in China exceeded 990 billion yuan in 2024, indicating significant progress in patent commercialization and industrialization [2] Group 2 - Companies reported an increase in innovation willingness due to the improved intellectual property ecosystem in China, with specific examples from companies like Mita Vision and AstraZeneca, which are benefiting from enhanced patent protection [3] - The expo served as a platform for companies to find technology partners, with successful case studies presented, such as a high-precision navigation technology collaboration that led to applications in smart driving and bridge monitoring [4] - The China Academy of Sciences showcased a green hydrogen energy solution, emphasizing the integration of research and industry through patent licensing and joint research opportunities [4] Group 3 - China has implemented policies to attract foreign investment, creating a favorable environment for foreign companies to innovate and establish operations in the country [5] - Airbus highlighted its long-standing presence in China, emphasizing the importance of local partnerships and the efficient regulatory environment for aircraft manufacturing [6] - Honeywell expressed its commitment to deepening its presence in China, collaborating with over 100 universities and suppliers to enhance its supply chain [6] Group 4 - The expo addressed challenges in technology transfer, with organizations like WIPO providing resources to assist Chinese companies in expanding internationally [7] - The Shanghai Technology Exchange introduced a new financing model for biopharmaceutical companies, enabling them to leverage their research pipelines as assets for funding [7] - The China Goods Coding Center promoted the adoption of international product coding standards to enhance export compliance and supply chain resilience [8]

宝坻区京津中关村科技城局部纳入天开园范围示意图（资料图）。 本报记者 韩梅 通讯员 陈振 本次纳入天开园的宝坻京津中关村（一期）占地面积3.22平方公里：东至纵三路及开元路，西至朝霞路，南至横三路，北至京哈高速防护绿带南边界。 "未来从宝坻站坐高铁到北京城市副中心站，那就更近了，只需要18分钟。"宝坻区京津中关村科技城管委会副主任韩帅说，宝坻京津中关村（一期）纳入天 开园后，将充分发挥空间位置优势，为北京科技成果提供更好孵化服务。 纳入天开园的宝坻区京津中关村科技城（一期）生机勃发。 产业发展生机勃勃 走进宝坻京津中关村（一期），满眼的绿色扑面而来，纵横交错的绿化带和街心公园随处可见，宽阔整洁的街道和拔地而起的厂房，在绿树掩映中时隐时 现。远处建设项目现场，塔吊林立，施工正酣。协同发展中心、医疗器械园、星网智谷产业园、首信、捷通等多个产业载体鳞次栉比，产业发展生机勃勃。 作为落实京津冀协同发展战略的重要载体平台，宝坻京津中关村也是中关村发展集团股份有限公司在北京以外唯一一个重资产持有的科创园区。 宝坻京津中关村（一期）聚焦汽车零部件、新材料、高端装备制造以及现代服务业"3＋1"的产业定位，引入了包括三一重能、 ...

Group 1 - The A-share IPO market is experiencing a significant recovery, with a total of 55 companies successfully listed and raising 59.504 billion yuan this year, marking an increase in both quantity and fundraising compared to the same period last year [3][4] - The number of IPOs accepted by the three major exchanges has increased by 361% year-on-year, with 180 IPOs accepted this year compared to 39 last year [3][4] - The number of companies that terminated their IPO applications has decreased by approximately 74.68%, with 78 companies withdrawing this year compared to 308 last year [3][4] Group 2 - The North Exchange has become a preferred platform for innovative small and medium-sized enterprises, with 116 out of the 180 newly accepted IPO projects coming from this exchange, accounting for 64.44% [4][5] - The top three industries for A-share IPOs in terms of quantity and fundraising are industrial, technology, and materials, which together account for 86% of the total IPO quantity and 89% of the total fundraising in the first half of the year [5][6] - The A-share IPO market is increasingly focusing on strategic sectors, with a significant number of applications from hard technology fields such as artificial intelligence, robotics, semiconductors, and new energy [5][6] Group 3 - The recent changes in the IPO market reflect a broader trend of deepening reforms in the capital market, with policies aimed at supporting technology-driven enterprises and enhancing market inclusivity [7][8] - The introduction of new listing standards and policies, such as the reactivation of the fifth listing standard for unprofitable companies on the Sci-Tech Innovation Board, is expected to attract more capital towards technology innovation [7][8] - The overall capital market is witnessing a structural improvement, with an increase in long-term funds entering the market, which is expected to enhance market stability and support enterprise growth [8][9]

封面新闻记者 罗石芊 徐湘东 伍雪梅 伍勇 7月18日，2025年凉山彝族火把节重大产业链招商引资项目集中签约仪式在四川西昌举行。现场，凉山州共签约项目83个，总投资额889.81亿元，其中， 26个代表项目上台签约。此次签约项目涵盖钒钛、稀土、航空航天和低空经济、清洁能源、生物医药等10个产业链，将为凉山州构建更具特色优势的现代 化产业体系注入新动能。 从6月25日至7月25日，以"激情火把节•共筑新未来"为主题的2025年凉山彝族火把节重大产业链招商引资活动在凉山开展。为期一个月的活动中，除了重 大产业链招商引资项目集中签约仪式外，还举行了钒钛、航空航天和低空经济、文化旅游3条产业链投资合作机遇发布会。同时，为充分借助火把节关注 度和节日人气，凉山州17县（市）深入开展形式多样的招商系列行动，累计外出招商超百次，推动70个在谈项目落地，完成"每链3项目、每县3项目"签约 目标。 签约仪式 图据主办方 活动现场 图据主办方 凉山州相关负责人表示，这一系列招商活动，全面展示凉山的资源优势、产业基础、投资环境和发展潜力。凉山州将进一步加强产业招商，促进文化与经 济深度融合发展，推动一批项目签约落地。 今年以来， ...

Group 1: Core Insights - Shanghai is progressively building capabilities in the field of cell and gene therapy (CGT) drug research and manufacturing services, with advancements from CAR-T therapy to RNA therapies [1][2] - The collaboration between Zhengxu Bio and Danaher’s Sartorius focuses on the development of cell and gene therapy processes, leveraging Zhengxu's base editing technology for more precise treatments [1][2] - Zhengxu Bio has reportedly cured nearly 20 cases of β-thalassemia and sickle cell anemia globally using its base editing technology [1] Group 2: Industry Trends - In June, the National Medical Products Administration (NMPA) accepted applications for 11 CGT drugs, including 5 immune cell drug applications for acute B lymphoblastic leukemia and solid tumors [2] - As of the end of 2020, there were 1,306 CGT projects in clinical stages globally, indicating a growing interest and investment in this sector [2] Group 3: Role of CXO Services - CXO service providers are crucial in enhancing efficiency and reducing costs for technology developers in the CGT field, particularly in drug delivery systems and quality control [2][3] - The involvement of CXO services is essential for transitioning technologies from laboratory to manufacturing, ensuring stable production under strict quality standards [2][3] Group 4: Market Opportunities - The global CGT CRO market was valued at $710 million in 2020 and is projected to reach $1.74 billion by 2025, while China's market is expected to grow from 170 million yuan in 2016 to 1.2 billion yuan by 2025 [5] - The CGT industry chain has significant room for optimization, particularly in enhancing the GMP certification of raw materials and promoting domestic alternatives to improve supply chain resilience [5][6] Group 5: Challenges and Innovations - High treatment costs and local intellectual property requirements are driving the industry to explore innovative payment models and flexible collaboration strategies [6] - The complexity of CGT production processes poses challenges for scaling up from clinical to commercial production, necessitating standardized processes and improved logistics [5][6]

Group 1 - The Sci-Tech Innovation Board (STAR Market) has five listing standards, with the first requiring profitability and a minimum market value of 1 billion yuan [1][9]. - The second standard allows for losses if the company has a market value of at least 1.5 billion yuan and revenue of 200 million yuan in the last year, with over 15% of revenue invested in R&D over the past three years [2][3]. - The third standard requires a market value of 2 billion yuan and revenue of 300 million yuan in the last year, along with a net cash flow of 100 million yuan over the past three years [4][9]. - The fourth standard mandates a market value of 3 billion yuan and revenue of 300 million yuan in the last year, without cash flow requirements [5][6]. - The fifth standard does not require profitability, revenue, or cash flow, but mandates a market value of at least 4 billion yuan and approval for core products by relevant authorities [7][8]. Group 2 - Since the launch of the STAR Market, 20 companies have listed under the fifth standard, all in the biopharmaceutical sector [9]. - The fifth standard's listing has been paused since the second half of 2023 due to a lack of data for assessment, but plans to restart it were announced for June 2025 [10]. - The introduction of seasoned professional institutional investors is a key innovation to help assess companies that are unprofitable and have no revenue [10][11]. Group 3 - The STAR Market emphasizes "hard technology" and only accepts technology companies with significant technical content for listing [16]. - Industries such as real estate, finance, and investment are prohibited from listing on the STAR Market [17][18]. - The STAR Market encourages seven specific industries, including new generation information technology, high-end equipment, new materials, new energy, energy conservation and environmental protection, biomedicine, and other fields aligned with its positioning [19][20][21][22][23]. Group 4 - Companies must meet specific technical requirements to qualify as "hard technology," including R&D investment ratios, R&D personnel ratios, and patent counts [24][25][26]. - Companies can also qualify if they have core technologies recognized by national authorities or have received significant national awards [28]. Group 5 - In addition to industry, performance, and technical requirements, companies must have a sound management structure and no issues with equity [34].

Core Viewpoint - The article highlights the vibrant innovation and investment landscape among young entrepreneurs in China, particularly in the context of the 2025 New Youth Venture Conference held in Hangzhou, showcasing the integration of technology and investment trends [2][3]. Group 1: Conference Overview - The 2025 New Youth Venture Conference took place on July 18 in Hangzhou, gathering 2025 promising startups and investors to discuss the latest trends in technology and investment [2]. - The conference was guided by the Hangzhou Gongshu District People's Government and co-hosted by various partners, emphasizing the connection between youth innovation and urban industrial ecology [2]. Group 2: Key Data from the Conference - The "2025 New Youth Venture List" revealed that AI is significantly reshaping the innovation ecosystem, with 1/3 of the 30 featured entrepreneurs focusing on artificial intelligence [3]. - The average valuation of the listed companies is 1.6 billion yuan, with a total valuation of 46.1 billion yuan, and 50% of these companies are either unicorns or potential unicorns [3]. - The average total financing for these companies is nearly 400 million yuan, with an average of four financing rounds, and 15 companies have successfully completed their latest financing round in 2025 [3]. Group 3: Investment Trends - Among the 40 featured young investors, 72.5% focus on smart manufacturing and 67.5% on artificial intelligence, with early and growth stages being their primary investment focus [3]. - The average number of investment cases for these investors in 2024 is seven, and the average return multiple for exit cases over the past three years is 11.7 [3]. Group 4: Regional Development and Policies - Hangzhou's Gongshu District is actively promoting high-tech industry investment, aiming for high-quality economic development through various initiatives [5]. - The district's GDP reached 220.6 billion yuan in 2024, with a significant year-on-year growth of 4.6% in the first quarter of this year [5]. - High-tech industry investment has surged by 59%, with the district housing five companies from China's top 500 private enterprises and 26 listed companies [5]. Group 5: Entrepreneurial Ecosystem - The entrepreneurial ecosystem in Hangzhou is characterized by supportive governance that focuses on building a conducive environment rather than merely enforcing regulations [8][11]. - The region's unique advantages include a flexible and adaptive political-business environment, which fosters collaboration between government and enterprises [11]. Group 6: Future Opportunities - The article emphasizes the potential for AI to drive significant innovation across various sectors, including transportation, video creation, and biomedicine, with young entrepreneurs leading the charge [19]. - The emergence of AI technologies is seen as a catalyst for new business models and investment opportunities, particularly in sectors like renewable energy and biomedicine [31][33].

Core Viewpoint - The establishment of the Sci-Tech Innovation Board (STAR Market) has provided a favorable development platform for China's technology innovation enterprises, supported by policies and a more inclusive financing environment [1][3]. Group 1: Support for Sci-Tech Enterprises - Sci-Tech enterprises face challenges such as long R&D cycles, high funding requirements, and significant failure risks, necessitating support from policies, funding, and technology [3]. - The STAR Market has evolved to provide precise support for listed Sci-Tech enterprises, showcasing positive development trends [3]. - Companies like Boryung Pharmaceutical have transitioned from complex generic drug production to innovative drug R&D, benefiting from the financial support provided by the STAR Market [4]. Group 2: Capital Empowerment and Innovation - Boryung Pharmaceutical has invested a total of 1.2 billion yuan in R&D over six years, with key innovative drugs entering critical clinical phases [4]. - Haoyuan Pharmaceutical has rapidly developed its drug R&D center and production base after listing on the STAR Market, enhancing its service capabilities for the innovative drug industry [4]. Group 3: AI Technology and Innovation - The rapid development of AI technology, particularly in vertical applications, is empowering innovation across various industries [5]. - AI models are adept at solving complex nonlinear problems, helping to overcome innovation bottlenecks in fields like biomedicine and materials science [5]. - The China Securities Index Company has been enhancing the STAR Market index system to guide social capital towards key supported areas, promoting high-quality development of Sci-Tech companies [5][6]. Group 4: Future Developments and Market Dynamics - The STAR Market is set to undergo institutional upgrades with the introduction of the "1+6" policy, improving financing channels for Sci-Tech enterprises [8]. - The deepening reforms aim to enhance inclusivity for hard-tech companies, particularly in biomedicine and high-end equipment sectors [8]. - The integration of AI technology is expected to reduce investment risks and enhance innovation capabilities in the biopharmaceutical sector, leading to higher returns on investment [9]. Group 5: Global Recognition and Competitive Advantage - China's overall innovation capability is gaining global recognition, with a significant increase in domestic biopharmaceutical intellectual property cases being exported [9]. - As China's Sci-Tech strength continues to grow, the capital market's risk appetite for innovative drug companies is expected to shift positively, further enhancing competitiveness in the global market [9].

AI基金平安医疗健康混合A（003032）披露2025年二季报，第二季度基金利润2.1亿元，加权平均基金份额本期利润0.5108元。报告期内，基金净值增长率为 21.53%，截至二季度末，基金规模为9.66亿元。 该基金属于偏股混合型基金，长期投资于医药医疗股票。截至7月17日，单位净值为2.876元。基金经理是周思聪，目前管理4只基金。其中，截至7月17日， 平安医药精选股票A近一年复权单位净值增长率最高，达103.36%；平安医疗健康混合A最低，为84.73%。 基金管理人在二季报中表示，本报告期内，以子行业的景气度为投资的重要策略，在商业模式、竞争力和业绩的多维度比较中寻找具有估值性价比的优秀公 司，重点布局了创新药方向。未来仍然看好以创新药、创新医疗器械为代表的成长型的医药子行业。 截至7月17日，平安医疗健康混合A近三个月复权单位净值增长率为43.84%，位于同类可比基金9/138；近半年复权单位净值增长率为85.59%，位于同类可比 基金7/138；近一年复权单位净值增长率为84.73%，位于同类可比基金5/133；近三年复权单位净值增长率为48.57%，位于同类可比基金12/106。 截至7月1 ...

证券代码：688202 证券简称：美迪西 公告编号：2025-042 上海美迪西生物医药股份有限公司 股东减持股份计划公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律 责任。 重要内容提示： ? 股东持有的基本情况 截至本公告披露日，上海美迪西生物医药股份有限公司（以下简称"公司"） 股东林长青先生持有公司股份 5,473,654 股，占公司总股本的 4.07%，与其一致 行动人陈国兴先生合计持有公司股份10,348,808股，占公司总股本的 7.70%。 上述股份来源于公司 IPO 前取得的股份以及公司实施资本公积金转增股本， 林长青的股份已于 2022 年 11 月 7 日起解禁上市流通。 ? 减持计划的主要内容 因股东自身资金需求，公司股东林长青拟通过集中竞价或大宗交易的方式减 持合计不超过所持公司股票 2,000,000 股，即不超过公司总股本的 1.49%，自减 持计划披露之日起 15 个交易日后的 3 个月内（根据中国证监会及上海证券交易 所规定禁止减持的期间除外）实施。 上述股份减持价格按减持实施时的 ...