Group 1: IPO Market Highlights - The IPO market has seen significant activity from July 28 to August 1, with the first case of the new Sci-Tech Innovation Board IPO standard being particularly noteworthy [2] - Regulatory bodies continue to advance the review and listing processes for various companies, with several firms submitting applications to the Hong Kong Stock Exchange [2] Group 2: Companies Approved for IPO - Changjiang Energy Technology Co., Ltd. received approval for its IPO application from the Beijing Stock Exchange on July 28, focusing on energy and chemical equipment [3][4] - Delijia Transmission Technology Co., Ltd. was approved for its main board IPO application by the Shanghai Stock Exchange on July 31, specializing in high-speed heavy-duty precision gear transmission products [5] Group 3: Newly Listed Companies - Hanguo Group officially listed on the Shenzhen Stock Exchange on July 30, with an IPO price of 15.43 yuan per share and a market capitalization of 22 billion yuan, showing a strong opening performance [6] Group 4: Companies Submitting IPO Applications - Xinwangda submitted an application for H-share listing on the Hong Kong Stock Exchange on July 30, focusing on lithium battery technology and integrated solutions [7] - Binhua Group announced plans for an H-share issuance and listing on the Hong Kong Stock Exchange on July 29, with a focus on organic and inorganic chemical products [8][9] - Linglong Tire submitted a prospectus for an "A+H" listing, reporting revenues of 170.06 billion yuan in 2022, with a projected increase in subsequent years [12][13] - AIWB Inc., a U.S.-based AI technology company, submitted an IPO application to the Hong Kong Stock Exchange, aiming to expand its business in the Asia-Pacific region [14] - Jinyan High-tech submitted an IPO application to the Hong Kong Stock Exchange, focusing on kaolin materials [15] - Lemo IoT applied for a listing on the Hong Kong Stock Exchange, specializing in machine massage services [16] - Shengruan Technology submitted an application for a Hong Kong listing, having previously listed on the New Third Board [17][18] - Zhonghui Biotechnology applied for a listing on the Hong Kong Stock Exchange, focusing on innovative vaccines [19][20] Group 5: Market Dynamics - On July 31, the Shanghai Stock Exchange accepted the IPO application of Zhuhai Tainuo Maibo Pharmaceutical Co., Ltd., marking the first successful acceptance under the new fifth set of listing standards for the Sci-Tech Innovation Board [21]

Core Viewpoint - Zhonghui Biotech-B is set to go public on the Hong Kong Stock Exchange from August 8, 2025, focusing on innovative vaccine development and commercialization in China [3][4]. Company Overview - Established in 2015, Zhonghui Biotech specializes in innovative vaccine research and commercialization, employing a dual strategy of "independent innovation + authorized introduction" to meet unmet vaccine needs [3]. - The company aims to gradually replace traditional and imported vaccines with high-end products and extend its competitive advantage to international markets [3]. Product Pipeline - As of the prospectus date, Zhonghui Biotech has a pipeline of 13 vaccine products targeting various infectious diseases, including core products and 11 candidates in different clinical stages [3][4]. - Key products include the first and only approved quadrivalent influenza subunit vaccine in China, which has shown a serum protection rate of 89.41%-97.98% against four influenza virus strains [5]. Financial Performance - The company exhibits rapid revenue growth but continues to incur losses, typical for a research-driven biotech firm [4]. - Revenue for 2023 was 0.52 billion yuan, primarily from the quadrivalent influenza vaccine, with projections for 2024 to reach 2.60 billion yuan, reflecting a 400% year-on-year increase [5]. - The net loss for 2023 was 4.25 billion yuan, narrowing to 2.59 billion yuan in 2024 due to increased revenue [5]. IPO Details - The IPO will utilize a standard offering mechanism, with subscription dates from July 31 to August 5, 2025, and pricing on August 6 [4][6]. - The share price range is set between 12.90 and 15.50 HKD, with a total issuance of approximately 33.44 million shares [6]. - The expected net proceeds of around 4.21 billion HKD will focus on advancing the product pipeline, with 63.6% allocated to core product development [6][7]. Market Sentiment - The IPO is anticipated to attract significant market interest, with early subscription rates exceeding 41 times, indicating strong short-term speculative interest [7]. - The absence of well-known institutional investors may signal weaker long-term confidence, despite the high initial market enthusiasm [7].

Core Viewpoint - The company, Shenlian Biological (688098.SH), has signed cooperative contracts with the Lanzhou Veterinary Research Institute of the Chinese Academy of Agricultural Sciences and other entities to develop multi-valent vaccines for swine and cattle, focusing on several significant diseases [1] Group 1: Vaccine Development Contracts - The company has entered into two contracts for the technical development of vaccines: one for swine diseases including foot-and-mouth disease (O-type/A-type), swine fever, and pseudorabies, and another for cattle diseases including foot-and-mouth disease (O-type/A-type), viral diarrhea/mucosal disease, and infectious bovine rhinotracheitis [1] - The collaboration involves shared responsibilities and costs among the parties according to the agreements, with the resulting technological achievements and intellectual property being jointly owned by the company and the Lanzhou Veterinary Research Institute [1]

Core Viewpoint - The company, Shenlian Biological (688098), has signed cooperative contracts with the Lanzhou Veterinary Research Institute of the Chinese Academy of Agricultural Sciences to develop multi-valent vaccines for swine and cattle diseases [1] Group 1: Vaccine Development Contracts - The company has entered into two contracts for the technical development of vaccines: one for swine diseases including foot-and-mouth disease (O-type/A-type), swine fever, and pseudorabies, and another for cattle diseases including foot-and-mouth disease (O-type/A-type), viral diarrhea/mucosal disease, and infectious bovine rhinotracheitis [1] - The collaboration involves shared responsibilities and costs among the parties involved, with the resulting technological achievements and intellectual property being jointly owned by the company and the Lanzhou Veterinary Research Institute [1]

Core Viewpoint - The company has signed cooperative contracts with the Lanzhou Veterinary Research Institute of the Chinese Academy of Agricultural Sciences and other units to develop multi-valent vaccines for swine and cattle, focusing on several significant diseases [1] Group 1: Vaccine Development Contracts - The company has entered into a contract for the technical development of a tri-valent vaccine for swine, targeting foot-and-mouth disease (FMD) types O and A, swine fever, and pseudorabies [1] - Additionally, a contract has been signed for the development of a tri-valent vaccine for cattle, addressing FMD types O and A, viral diarrhea/mucosal disease, and infectious bovine rhinotracheitis [1] - The collaboration involves shared responsibilities and costs among the parties, with the resulting technological achievements and intellectual property being jointly owned by the company and the Lanzhou Veterinary Research Institute [1]

申联生物：与兰州兽医研究所签订多联多价疫苗项目合作开发合同 《科创板日报》31日讯，申联生物(688098.SH)公告称，公司与兰州兽医研究所等单位签订两份技术开 发（合作）合同，共同开发猪用和牛用口蹄疫等三种疫病多联多价疫苗。合作产生的技术成果及知识产 权归公司及兰研所两方共同享有。尽管两款产品已进行初步安全性与有效性试验，但能否通过农业农村 部审批及具体上市时间存在不确定性。 ...

申联生物公告，公司与中国农业科学院兰州兽医研究所等单位签订了《猪口蹄疫O型/A型、猪瘟、伪狂 犬病三联疫苗技术开发（合作）合同》及《牛口蹄疫O型/A型、病毒性腹泻/黏膜病、传染性鼻气管炎三 联疫苗技术开发（合作）合同》，共同开发猪用口蹄疫等三种疫病多联多价疫苗及牛用口蹄疫等三种疫 病多联多价疫苗。合作各方按照协议约定任务和分工，各自承担相关费用，合作研发项目产生的技术成 果及知识产权归公司及兰研所两方共同享有。 ...

7月24日，市场继续大涨，近4400只个股上涨，914只个股下跌，79只个股涨停，1只个股跌停。 高位股，雅下水电概念恒立钻具30CM4连板，深水规院20CM4连板，中国电建、保利联合、西藏天路、高争民爆、西宁特钢、山河智能4连板，中设股份上 演"地天板"录得4连板。海南相关个股凯撒旅业6天3板、康芝药业20CM涨停，千亿权重中国中免涨停。创新药南京新百2连板，年报增长彩虹集团2连板。 | | 代码 | 名称 | 几天几板 价格 | 涨幅% 涨停分析 | 换手率 | 成交额 | 首次涨停时间 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 002542 | 中化岩土 | 6天4板 5.01 | +10.11% 岩土工程+低空经济+国企+中 | 24.22% | 20.51亿 | 09:42:45 | | 2 | 601669 | 中国电建 | 4连板 7.45 | +10.04% 雅 水电概念+水电风电+抽水 | 17.09% | 158.57亿 | 10:45:00 | | 3 | 002037 | 保利联合 | 4连板 14.19 | + ...

Group 1 - The company announced that its wholly-owned subsidiary, Jinyu Baoling, received clinical trial approval for an African swine fever subunit vaccine from the Ministry of Agriculture and Rural Affairs [1] - The vaccine is jointly developed by the Institute of Biophysics of the Chinese Academy of Sciences and China National Pharmaceutical Group Animal Health Co., Ltd., with Jinyu Baoling as the clinical trial undertaking unit [1] - The total research and development investment for the project is approximately 64 million yuan [1] Group 2 - Due to the complexity of the immune mechanism of the African swine fever virus, there is a risk of failure in the clinical trials [1] - The vaccine must complete clinical trials and obtain registration approval before it can be marketed and sold [1] - The company will monitor subsequent developments and fulfill its information disclosure obligations [1]

Core Insights - Emerging infectious diseases and antimicrobial resistance (AMR) are major global health threats closely linked to zoonotic diseases, requiring improved interdepartmental collaboration and the promotion of innovative solutions [1][2][3] Group 1: Challenges in Disease Control - The need for enhanced collaboration between health, agriculture, and environmental sectors is critical, as 75% of new infectious diseases are zoonotic, with climate change and human activities increasing cross-species transmission risks [3] - The rising antibiotic resistance among bacteria poses significant challenges, as many antimicrobial drugs are losing effectiveness, leading to prolonged treatment periods and potential treatment failures [3][4] - The implementation of the "One Health" concept is gaining consensus among academia, international organizations, and governments to address zoonotic diseases effectively [3][4] Group 2: Innovation and Technology - Advances in genomic sequencing technology for infectious disease monitoring have improved, but commercialization and large-scale application remain challenges [1][8] - Digital technologies, including AI, are seen as transformative for implementing the "One Health" strategy, enhancing monitoring of antibiotic resistance and clinical decision-making [8] - The lack of consensus on high-throughput sequencing technology in veterinary diagnostics highlights the need for cross-departmental integration to overcome monitoring challenges [6][8] Group 3: Funding and Resource Allocation - Sustainable funding is essential for promoting innovative solutions, particularly in low-resource settings, where health budgets are constrained [9] - The World Bank emphasizes the importance of collaborative financing models to support monitoring systems and the "One Health" strategy, involving private sector participation [9]