投资者如何做好理性投资？企业如何理性引领高质量发展？带着这些问题，来自全国各地的数十名投资者实地走进并深入了解爱尔眼科。 6月17日，由深圳证券交易所、中证中小投资者服务中心、湖南省证券业协会牵头，联合国泰海通证券、爱尔眼科和全景网开展的"理性投资伴我行，走进上市公司"主题投教活动顺利举行。投资 湖南省证券业协会常务副会长兼秘书长刘丹岳在致辞中表示，希望通过本次活动搭建投资者与上市公司深度沟通的桥梁，共同营造理性投资、价值投资、长期投资的健康生态。 爱尔眼科董事、副总裁兼董事会秘书吴士君表示，理性投资不仅在投资者层面十分重要，作为上市公司，更要理性管理、理性经营。爱尔眼科自上市至今，无论外部市场有任何变化，始终坚持做 交流问答环节是活动的"重头戏"。一位四年级小学生的父亲在参观完数字研究所后深有感触地提问："眼科如何更好地与现代科技结合满足人们更多的潜在需求？中小学生的近视防控工作做得更 "伴随着社会的发展眼科疾病谱也在发生变化，医疗技术与先进科技、人工智能结合，会孕育出无穷的可能。"吴士君说。关于青少年近视防控，公司的云夹(近视防控可穿戴智能护眼设备)已经 还有投资人提问医疗人才的培养规划和投入情况，公司表 ...

Core Viewpoint - The establishment of the "Ocular Trauma Consultation Center" marks a significant advancement in the treatment of ocular emergencies, enhancing the collaborative and rapid response capabilities of Shanghai Aier Eye Hospital in the field of ocular trauma [1][2]. Group 1: Ocular Trauma Consultation Center - The center integrates high-quality expert resources from across the country to create an efficient and standardized platform for ocular trauma patients in East China and nationwide [2]. - The center aims to address the traditional challenges faced by ocular trauma patients, who often need to visit multiple hospitals for effective treatment [2]. - The establishment of the center is supported by top experts in the field, forming an "All-Star Team" to optimize referral processes and provide remote guidance for complex cases [2][3]. Group 2: Comprehensive Eye Health Management - Shanghai Aier Eye Hospital has developed a comprehensive eye health management system that caters to different age groups, including specialized clinics for conditions like strabismus, diabetic eye disease, and more [3]. - The hospital has introduced a "24-hour retinal detachment green channel" to ensure emergency patients receive timely treatment [3]. - The hospital has also established an "International Remote Consultation Center" to enhance its diagnostic and treatment capabilities, facilitating cross-regional and high-level cooperation [3]. Group 3: Patient-Centric Approach - Over the past two decades, Shanghai Aier Eye Hospital has maintained a patient-centered philosophy, focusing on integrating precision in diagnostic technology with a warm healthcare system [4]. - The hospital emphasizes the combination of quality medical resources with digital technology to benefit more patients suffering from eye diseases [4].

Core Insights - Shanghai Jieshi Medical Technology Co., Ltd. successfully completed a Series B financing round led by Yunsheng Investment, with Xingliang Investment participating, to accelerate the commercialization of core products, new product development, and market expansion [1] Company Overview - Jieshi Medical was established in January 2013 in Zhangjiang Medical Device Industrial Base, focusing on solutions for retinal diseases and vision restoration, with a product matrix that includes several products approved for sale in China [1] - The company has developed a range of products including Jieshi® perfluoropropane gas, Zhongshui® perfluorohexane for ophthalmic surgery, and various single-use ophthalmic puncture systems, among others [1] Product Innovations - The Jieshi® perfluoropropane gas, which received NMPA Class III certification in February this year, is the first domestically approved long-acting filling gas for ophthalmic use, specifically designed for vitreoretinal surgery [1][2] - The product is characterized by its high purity (99%) and unique design that addresses the high costs and infection risks associated with imported products, thus improving patient treatment timelines [2] - The Zhongshui® perfluorohexane is noted as the only second-generation heavy water in China, offering higher purity (≥ 99.98%) and improved safety features compared to first-generation products [2] Market Potential - The demand for ophthalmic medical devices is expected to rise due to aging populations and economic development, positioning Jieshi Medical as a key player in the domestic market [3] - The company aims to fill gaps in the domestic market with innovative products, leveraging its experienced team to address clinical pain points through product development [3][4] - The overall market for ophthalmic medical devices in China is anticipated to improve as more innovative companies like Jieshi Medical emerge, enhancing the domestic replacement rate in this sector [4]

Core Viewpoint - In 2023, technology finance was highlighted as a key focus in the Central Financial Work Conference, emphasizing the need for financial institutions to support the transformation of scientific research into marketable products through innovative financing solutions [1]. Group 1: Financial Institutions' Role - Financial institutions are encouraged to direct funds towards early-stage technology companies, particularly those with high growth potential, to facilitate their development [2]. - Banks are expanding their focus from traditional industrial parks to universities and research institutions, aiming to assist technology companies in transitioning from laboratories to the market [2][5]. - The introduction of the "Technology Achievement Transformation Loan" by CITIC Bank aims to support early-stage technology companies that have not yet achieved stable revenue [5][6]. Group 2: Innovative Financing Solutions - The "Technology Achievement Transformation Loan" prioritizes technological capabilities and research team quality over traditional financial metrics like debt repayment ability [6]. - The loan product allows for non-collateralized financing options, accepting credit-based guarantees or guarantees from controlling shareholders [7]. - CITIC Bank has successfully provided loans to companies like Huashinuo, which focuses on innovative ophthalmic diagnostic and treatment systems, demonstrating the effectiveness of this financing model [7][8]. Group 3: Case Studies of Technology Companies - Huashinuo, a company specializing in ophthalmic technology, received a loan of 10 million yuan to support its commercialization efforts, highlighting the importance of financial backing in critical development phases [7]. - Another example is Xinhua Storage, a startup focused on zinc-nickel flow battery technology, which received a loan of 5 million yuan without collateral, using patent pledges as a form of credit enhancement [12]. - Both companies illustrate the evolving financial needs of technology firms as they progress through different stages of development, requiring tailored financial solutions [13][14]. Group 4: Comprehensive Financial Services - CITIC Bank aims to provide a comprehensive suite of financial services, including credit products, equity investment, and bond financing, to support technology companies throughout their growth [14]. - The bank's "启航计划" (Launch Plan) aims to assist 10,000 hard technology companies in their critical transition from concept to market over the next three years [14].

为此，银行纷纷将目光从传统产业园区延伸至高校院所等区域，以中信银行为例，该行开始重点锚定高校院所、医院等科技成果转化主阵地，助力科技企业从"实验 室"走向市场。 从发现需求到识别价值 全国科技大会结束后，"引导金融资本投早、投小、投长期、投硬科技"成为金融机构开展科技金融工作的重要方向。这意味着，银行资金要流向更有需要、有发展 潜力的早期科技企业，成为助力其成长羽化的关键力量。 2023年，科技金融作为"五篇大文章"之首，在中央金融工作会议中被首次提出。 两年时间内，具身智能、量子科技等前沿技术不断涌现，如何以金融力量助推科技成果转化、实现创新与资本的完美结合？金融机构仍在不断实践与探索。 离实体企业距离最近的银行，也成为破解"科研强、转化弱"难题的关键一环。近期，券商中国记者实地探访北京的多家科技企业，探寻银行与科技企业间"双向奔 赴"的故事。 "2024年底，在对接中国医学科学院协和医学院时，我们了解到华视诺维这家企业，前两年融资较为顺畅，但下轮股权融资还未到账，产生短期的资金缺口。"该行 客户经理回忆。 华视诺维致力于解决眼科精准诊断和治疗，记者在现场看到，华视诺维所研发伴随诊断体系与脉络膜上腔给药系统 ...

Core Viewpoint - The increasing prevalence of myopia in China is driving a significant rise in the demand for myopia surgery, particularly among the youth, with a notable peak in surgeries during the summer months following the national college entrance examination [1][13]. Group 1: Market Trends - The myopia surgery market is experiencing robust growth, with a reported 1.5 surgeries per 1,000 people in China, and the average age of patients is around 24.7 years, predominantly under 20 years old [13][15]. - The market for myopia treatment has evolved beyond traditional eyewear, with myopia surgery becoming a prominent option among consumers [7][16]. - The myopia surgery market is characterized by a trend towards "quality consumption," with common procedures including corneal laser surgery and implantable contact lenses, priced between 15,000 to 30,000 yuan [15][16]. Group 2: Industry Dynamics - The demand for myopia surgery has attracted significant investment, leading to a proliferation of eye care institutions, including both chain brands and independent clinics [17][20]. - Aier Eye Hospital, a leading private eye care chain, has expanded its network from 71 to 974 facilities over nine years, highlighting the rapid growth in the sector [19]. - Other emerging players, such as Huaxia Eye Hospital and Puri Eye Hospital, are also expanding through financing and mergers, with Huaxia's assets increasing from 953 million yuan to 3.872 billion yuan from 2021 to 2024 [19]. Group 3: Service Diversification - Eye care institutions are diversifying their services to include comprehensive eye health management, from prevention to treatment and rehabilitation, thus providing consumers with more choices [22]. - Traditional eyewear retailers are also entering the myopia treatment market, leveraging their existing sales channels to offer myopia prevention and vision correction services [20]. Group 4: Challenges and Regulatory Issues - Despite the growth, the industry faces challenges, including the prevalence of misleading marketing practices and the sale of unapproved products, which can mislead consumers about the safety and effectiveness of myopia treatments [25][27][28]. - Regulatory bodies are increasingly focusing on combating false advertising in the myopia treatment sector, particularly concerning claims of "curing" myopia [28].

其次，学习曲线更低。传统透镜取出手术在透镜取出时易发生错层问题。而CLEAR的双切口设计，因其上下切 口位于不同层面，使医生在分离和取出透镜时能更清晰地区分组织层次，有效避免错层，操作便捷性更高。尤 其对于入门操作的年轻医生，可以大大降低手术学习曲线。 此外，第三个优势在于实现术中中心定位的可调性。周教授对比道，传统透镜取出手术要求医生在负压吸引时 一步到位精确确定中心位置。而CLEAR手术则允许医生在维持负压吸引的状态下，直接在操作界面上调整中心 位置，这对于年轻医生尤为便利。"这些技术创新不仅提升了手术安全性，更让医生能够为患者提供更精准、 更个性化的治疗方案。"周跃华教授强调。 临床效果显著，患者满意度高 新一代全飞CLEAR自中国获批上市以来，受到眼科专家和患者的广泛关注。北京茗视光眼科医院总院长周跃华 教授近日完成了全国首批、北京首台新一代个性化全飞CLEAR手术.全飞臻视Pro，标志着屈光手术领域的新突 破。6月19日，首例接受个性化全飞CLEAR手术的患者状态良好，恢复效果超出预期。 三大技术突破，重塑手术标准 术后第一时间周跃华教授分享了他的手术体验与宝贵经验，周教授介绍，新一代个性化全飞CL ...

Core Viewpoint - The article discusses the advancements in the treatment of neovascular age-related macular degeneration (nAMD) through the development of Duravyu, a drug-device combination product by EyePoint, which aims to reduce the treatment burden associated with frequent injections [2][14]. Group 1: Product Development and Clinical Trials - EyePoint's Duravyu has completed patient recruitment for its Phase III LUGANO study within 7 months, enrolling over 400 subjects, marking a significant step towards commercialization [2]. - The preliminary data from the LUGANO trial is expected to be released in mid-2026, with the LUCIA study results anticipated in the second half of 2026 [2]. - Duravyu aims to provide a "six-month injection" treatment regimen, addressing the frequent injection dilemma faced by nAMD patients [2][14]. Group 2: Challenges in Current Treatments - nAMD is a leading cause of severe central vision loss in the elderly, with current anti-VEGF therapies requiring 6 to 12 injections per year, creating a significant treatment burden [3]. - The pharmacokinetic challenges in the posterior segment of the eye necessitate the development of implantable drug delivery systems (IDDS) to maintain stable drug concentrations [3][8]. Group 3: Duravyu's Mechanism and Advantages - Duravyu utilizes EyePoint's proprietary Durasert technology to deliver vorolanib, a multi-target tyrosine kinase inhibitor, through a biodegradable implant [9][12]. - The product is designed to be injected through a standard syringe, simplifying the procedure and reducing the learning curve for healthcare providers [12]. - The release profile of Duravyu can be finely tuned to ensure sustained therapeutic effects while minimizing the need for additional interventions [12][13]. Group 4: Market Implications and Future Directions - The success of Duravyu could significantly impact EyePoint's valuation and provide a model for the future development of sustained-release formulations in ophthalmology [14]. - The article emphasizes the importance of balancing efficacy, safety, and commercial viability in the design of drug-device combination products like Duravyu [14]. - The ongoing evolution of ocular IDDS is expected to lead to innovative solutions that address the treatment burden of nAMD and improve patient outcomes [13][14].

Core Insights - The article discusses how financial institutions, particularly CITIC Bank, are supporting hard technology companies in overcoming challenges related to high R&D costs and long industrialization cycles through innovative financial products like "Technology Achievement Transformation Loan" [1][2] Group 1: Hard Technology Companies - Xinhuachu, established in 2023, focuses on zinc-nickel flow battery technology, which has been in development since 2015 and has achieved small-scale production after 8 years of research [1][2] - The unique advantages of Xinhuachu's technology include safety and environmental friendliness, addressing the bottleneck of distributed photovoltaic grid consumption, which is currently only 15% in rural areas of China [1][2] - The company has developed a solution that connects transformers and energy storage devices, significantly improving grid consumption capacity from 15% to 50%, tripling the original capacity [2] Group 2: Financial Support and Collaboration - CITIC Bank provided initial credit support during Xinhuachu's angel investment stage, customizing financial service solutions based on technology sources, patent numbers, and key project involvement [2][4] - The bank's "1+2 approval" fast track significantly enhances approval efficiency, alleviating pressure on the company's pilot base upgrades and equipment procurement [2] - CITIC Bank's comprehensive financial services, including bond issuance and asset securitization, are crucial for the growth of companies like Xinhuachu [2] Group 3: Other Hard Technology Innovations - Huashinuo, founded in 2018, specializes in precision ophthalmology and targeted drug development, with several international patents and national research project endorsements [3] - The company has developed innovative medical devices, including a single-use anterior chamber puncture device, aimed at improving precision diagnostics in county-level hospitals [3] - Huashinuo's breakthrough in drug delivery technology has entered clinical trials and has received patents in major global markets, showcasing its potential for treating eye diseases [3][4]

Core Viewpoint - Huaxia Eye Hospital Group, in collaboration with Shanghai University, Nova Coffee, and Shanghai Xin'ao Guangming Public Welfare Foundation, launched the "Eye Health Dry Eye Moisturizing Public Welfare Activity and Technology Innovation Platform Release Ceremony," introducing the first AI self-test tool for dry eye in China, named "Smart Eye Guardian" [1][2]. Group 1: AI Self-Test Tool - The "Smart Eye Guardian" mini-program is the first AI self-test tool for dry eye in China, allowing users to upload images and videos for quick, contactless preliminary diagnosis of dry eye symptoms [2][3]. - The program aims to address the increasing prevalence of dry eye, which affects approximately 360 million people in China, growing at a rate of 10% annually [3]. Group 2: Public Health Challenge - The World Health Organization reports that over 2 billion people globally spend more than 8 hours a day on screens, with about 35% experiencing dry eye symptoms [3]. - The rise of digital device usage has led to a significant increase in dry eye cases, highlighting the need for innovative solutions like the "Smart Eye Guardian" [3]. Group 3: Collaborative Initiatives - Huaxia Eye Hospital partnered with Nova Coffee to launch the "Good for Eyes" blueberry beverage, targeting the 20-45 age group, which faces higher risks of dry eye due to busy lifestyles and lack of awareness [4]. - The collaboration includes a public welfare project where 0.1 yuan from each "nourishing coffee" sold will be donated to a public welfare fund, promoting a "consumption equals public welfare" model [4]. Group 4: Community Engagement - Over 50 hospitals under Huaxia Eye Hospital will participate in eye health public welfare projects, conducting a series of dry eye care activities in the coming month [4]. - The initiative aims to fill the gap in dry eye health education and patient care, focusing on preventive measures and raising awareness among high screen-time populations [4]. Group 5: Professional Insights - Experts emphasized the importance of understanding the causes and development of dry eye, advocating for good lifestyle habits to prevent the condition [5]. - The misconception that dry eye is untreatable was addressed, with experts stating that all cases can be effectively treated once the underlying causes are identified [5].