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资本市场改革显效 各路资金投下信任票
Zheng Quan Shi Bao· 2025-07-13 17:22
A股市场总市值突破百万亿元、常态化稳市机制不断健全、服务实体经济效能明显提升、对外开放大门 越敞越大……今年以来,资本市场全面深化改革步伐加快,对内改革与对外开放并重,政策红利激发出 的市场活力,正逐步传导至资本市场每个角落,各路资金争相投下信任票。 科技变革的脚步催促声渐急,以改革之力厚植科创沃土成为必然。年初以来,全球经济格局重塑,贸易 摩擦频发,以DeepSeek为代表的技术突破,论证了持续加快推进改革创新的必要性,"科技创新"成为了 中国经济高质量发展的"题眼"与资本市场深化改革的题中应有之义。如何畅通金融资本与科创要素的通 道,怎样走出支持科技创新和产业创新融合发展的"中国路径",成为摆在资本市场面前的必答题。 深化制度改革成为支持科技创新的题中之义。今年以来,持续优化股债融资的一系列服务实体经济 的"实招"出台落地,以深化科创板"1+6"改革、"并购六条"等为代表的政策制度相继推出,着力打造更 具吸引力、竞争力的市场体系和产品服务矩阵,支持全面创新的资本市场生态正在加速构建。 "考核机制改革无疑会降低短期业绩压力,推动险资、企业年金、养老基金等逐步转向长期投资。"南开 大学金融学教授田利辉表示,险 ...
推荐 | 达普生物:中国高通量液滴微流控技术的领军企业
合成生物学与绿色生物制造· 2025-07-13 15:39
Core Viewpoint - Dapu Biotech aims to create a new generation of intelligent life science solutions, focusing on the deep integration of AI and biotechnology [1] Company Overview - Dapu Biotech was founded in 2018, incubated at the Hong Kong University of Science and Technology, and is a leading enterprise in high-throughput droplet microfluidics technology in China [5] - The company has R&D and production centers in Shenzhen and Jiaxing, with a team of nearly 100 people dedicated to applying droplet microfluidics technology in biomedicine and precision medicine [5] - Dapu Biotech aims to provide a complete solution integrating the R&D and production of microfluidic chips, instruments, and reagents [5] Product Offerings - The company has commercialized multiple scientific instruments based on droplet microfluidics technology, including: - CytoSpark® Droplet Microfluidic High-throughput Screening System - OMNIdrop® System - Galaxy Single Cell Analysis System - Nebula dPCR System - Exostar Extracellular Vesicles Analysis System - These products are applicable in various fields such as antibody screening, enzyme directed evolution, strain screening, small molecule compound screening, cancer research, tumor early screening, virus quantification, and biopharmaceutical quality control [6] System Advantages - OMNIdrop® System features: - Multifunctional integration of droplet generation, fusion, reading, and sorting - Dual-drive pressure system for easy switching - High-speed droplet generation of 100 to 8000 droplets per second, with a million droplets prepared in just 10 minutes - High compatibility with commonly used biological experimental consumables [9] - CytoSpark® CSP System advantages include: - Efficient screening of complex transmembrane proteins - Unique non-activation screening technology - Breakthrough in single-experiment coverage of over one million B cells, improving efficiency by 10 to 100 times [14] Industry Events - The SynBioCon 2025 conference will be held from August 20-22 in Ningbo, Zhejiang, focusing on the integration of AI and biological manufacturing, and exploring trends in the biomanufacturing industry [18]
科创板“1+6”配套业务规则落地!市场各方发声
Zheng Quan Shi Bao· 2025-07-13 15:23
Group 1: Core Views - The Shanghai Stock Exchange has officially released new business rules aimed at enhancing the Sci-Tech Innovation Board, addressing the challenges faced by technology companies in the listing process, and adapting to the needs of China's technological innovation and growth [1] - Experts and industry leaders have positively evaluated the new rules, emphasizing their role in improving the inclusivity and adaptability of the capital market for technology innovation and new productive forces [1] Group 2: Expert Opinions - Zhang Zongxin, a finance professor, highlighted that the establishment of the Sci-Tech Growth Layer provides a more suitable capital market platform for early-stage technology companies, which often face long paths to profitability [2] - Yao Yawei noted that introducing seasoned professional institutional investors can enhance the identification of quality technology companies and improve resource allocation efficiency in the capital market [3][4] - Industry leaders from various companies expressed that the new policies accelerate core technology development and commercialization processes, benefiting companies with strong competitive advantages in hard technology [5][6][7][8] Group 3: Investment and Market Dynamics - The establishment of the Sci-Tech Growth Layer is seen as a critical step in supporting early-stage innovative companies, providing them with financing channels and enhancing China's competitive advantage in global industry development [9] - The introduction of seasoned professional institutional investors is viewed as a mechanism to improve risk identification for investors and enhance the overall investment environment for technology companies [10][11] - The reforms are expected to attract long-term and patient capital to the Sci-Tech Innovation Board, further solidifying the market's support for technology innovation [12][13]
科创板“1+6”配套业务规则落地!市场各方发声
证券时报· 2025-07-13 15:13
"与境外市场不同的是,科创板此次改革引入资深专业机构投资者制度仅针对第五套标准企业开展小范围试 点,资深专业机构投资者入股情况只作为审核注册的参考,不构成新的上市条件,并非上市'门槛',不影响科 技型企业适用第五套上市标准申报科创板。"姚亚伟说。 科创板"1+6"配套业务规则落地。 7月13日,上交所正式发布了《科创板上市公司自律监管指引第5号——科创成长层》《发行上市审核规则适用 指引第7号——预先审阅》《发行上市审核规则适用指引第8号——资深专业机构投资者》等配套业务规则。在 配套业务规则公布后,专家学者、科创板公司董事长、券商投行负责人、创投机构投资人等纷纷发声,对配套 业务规则给予了积极正面评价,认为此次深化科创板改革着力解决科技型企业发行上市痛点难点问题,主动适 应了我国科技创新发展需要和科技型企业的成长需求,进一步增强了科创板对科技创新和新质生产力发展的制 度包容性、适应性。 专家学者:科创成长层提供适配的资本市场平台 复旦大学金融研究院金融学教授、博士生导师,美国斯坦福大学访问学者张宗新表示,从全球实践看,科技型 企业往往经营业绩不确定性大、转盈利周期长,资本市场服务能否有效覆盖优质未盈利科技型 ...
亏损企业上市,科创板第五套标准新规来了
Sou Hu Cai Jing· 2025-07-13 13:46
Group 1 - The core point of the news is the reintroduction of the fifth listing standard for the Sci-Tech Innovation Board, allowing companies with no profits or revenue to go public, particularly benefiting special industries [1][3][4] - The fifth listing standard requires a minimum market value of 4 billion yuan, and companies must have significant market potential and approved core products for certain industries, such as biomedicine [4][5] - The new regulations expand the eligible industries for the fifth standard to include artificial intelligence, commercial aerospace, and low-altitude economy, aiming to accelerate the establishment of typical cases [9][10] Group 2 - The introduction of a system for qualified professional institutional investors is part of the new regulations, which will help assess the reliability of companies applying under the fifth standard [10][11][17] - A pre-review mechanism has been established to protect sensitive information for technology companies, allowing them to apply for confidentiality during the listing process [18][19][20] - The establishment of a Sci-Tech Growth Layer is part of the new regulations, with specific criteria for companies to enter this layer, indicated by a "U" in their stock abbreviation [23][25][29]
上交所重磅发布!科创板改革“1+6”政策配套规则来了
Bei Jing Shang Bao· 2025-07-13 11:54
7月13日,为了落实《中国证监会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》),进一步深化科创板改革,上 交所正式发布了新制定的《科创板上市公司自律监管指引第5号——科创成长层》(以下简称《科创成长层指引》)等3项业务指引,以及修订的《会员管理 业务指南第2号——风险揭示书必备条款》(以下简称《科创成长层必备条款》)等2项业务指南。同日,上交所就发布上述配套业务规则答记者问。据上述 规则介绍,存量32家未盈利企业将自指引发布实施之日起进入科创成长层;个人投资者参与科创成长层股票交易门槛仍为"50万元资产+2年经验"。另外, 科创板试点IPO预先审阅机制以及资深专业机构投资者指引也备受市场关注。 32家未盈利企业纳入科创成长层 2025年6月18日,中国证监会发布《科创板意见》。时隔不足一个月,上交所7月13日发布《科创成长层指引》,从业务规则的角度对《科创板意见》中的有 关要求加以细化,规范科创板科创成长层上市公司日常监管,保护投资者合法权益,更好服务科技创新和新质生产力发展。 从纳入条件看,上交所相关负责人就业务规则制定修订情况答记者问时表示,这次改革没有针对未盈利企业纳 ...
金投致源助力百明信康搭建全球过敏诊断平台
投中网· 2025-07-13 06:44
Core Viewpoint - The investment by Jintou Zhiyuan in Baiming Xinkang aims to expand its global business and focus on specific immune regulation, establishing a leading medical device business system globally [2][6]. Company Overview - Baiming Xinkang Biotechnology (Zhejiang) Co., Ltd. was established in 2018 and is headquartered in Huzhou, Zhejiang. It has three major bases: Shanghai for R&D and clinical trials, Madrid for R&D and manufacturing, and San Diego for early detection and clinical trials [4]. - The company specializes in breakthrough immune therapy solutions to effectively combat allergies, autoimmune diseases, and other serious unmet medical needs. It is rapidly expanding its global business and focusing on specific immune regulation, developing integrated diagnostic and therapeutic solutions based on revolutionary technology platforms [4]. Product Pipeline - Baiming Xinkang has built a rich product pipeline in the allergy testing field, including over 150 types of allergy skin prick test reagents covering more than 90% of common allergens globally. It also offers the world's only and best-performing DAP penicillin skin prick test reagent and rapid, accurate allergy diagnosis POCT products [4]. Industry Growth - The biopharmaceutical industry shows strong growth momentum and significant development potential globally and in China, driven by technological innovation, policy support, and increasing market demand. Jintou Zhiyuan has been deeply researching the healthcare sector for years, with investments covering early screening, in vitro diagnostics, life science tools, and high-value consumables [6]. Future Plans - Jintou Zhiyuan will continue to support Baiming Xinkang in technology R&D, capacity expansion, and market development, aiming for more technological breakthroughs in immune therapy and contributing to the development of desensitization treatment in China [6].
中国公司全球化周报|消息称智谱同时推进香港和A股IPO/Manus总部迁至新加坡,清空国内多平台账号
3 6 Ke· 2025-07-13 04:03
Company Developments - Zhiyuan is preparing for IPOs in both Hong Kong and A-shares, with a higher probability for A-share listing due to recent strategic financing of 1 billion yuan from state-owned enterprises [2] - AliExpress has launched a "same-day delivery" service in the UK, partnering with local delivery platform HungryPanda, and has expanded local partnerships in Australia, Brazil, and the Middle East since last year [2] - Manus has laid off part of its domestic workforce and relocated core technical staff to its Singapore headquarters, with its website indicating "not available in your region" [2] - Tea Yan Yue Se has officially announced its retail business expansion into North America through e-commerce platforms, launching nearly 40 products [4][5] - Pony.ai has started road testing its Robotaxi service in Luxembourg in collaboration with local transportation company Emile Weber [5] Macro Policies & Industry Trends - U.S. President Trump plans to impose a unified tariff of 15% or 20% on countries that have not yet received tariff notifications, with a 50% tariff on copper imports starting August 1 [6] - A-share companies are increasingly globalizing, with over 60 overseas investment and acquisition cases reported in the first half of 2025, particularly in electronics, automotive parts, and machinery [6] - Hong Kong's IPO market is thriving, with a 20% increase in the Hang Seng Index in the first half of 2025 and 42 IPOs raising over 107 billion HKD, marking a 22% increase from the previous year [6] - The Export-Import Bank of China has issued over 610 billion yuan in loans to support foreign trade enterprises in the first half of the year, with a nearly 20% increase in loans to small and micro foreign trade enterprises [7] Investment & Financing - Star Era has completed a 500 million yuan Series A financing round, with significant growth in overseas market orders, now accounting for 50% of total orders [8] - Itstone Technology has raised 122 million USD in a financing round led by Meituan, focusing on developing a full-stack technology system [8] - Shuwen Biotech has completed nearly 100 million yuan in Series C1 financing to accelerate the market promotion of its diagnostic products [8] - Silicon-based Intelligence has completed several billion yuan in Series D financing to enhance R&D and market application of its AIGC digital human technology [8]
中国博后一作兼通讯Nature论文:为阿尔茨海默病带来颠覆性治疗方法
生物世界· 2025-07-13 03:05
Core Viewpoint - The article discusses a groundbreaking study on tau protein disassembly in Alzheimer's disease, highlighting the potential of D-type peptides as a novel therapeutic strategy to combat neurodegenerative diseases [3][15]. Group 1: Alzheimer's Disease and Tau Protein - Alzheimer's disease (AD) is characterized by cognitive decline and is closely associated with the abnormal aggregation of tau protein and β-amyloid protein [2]. - Tau protein aggregation is more strongly correlated with the cognitive symptoms and severity of Alzheimer's disease compared to β-amyloid [2]. Group 2: Research Findings - A study published in Nature by Dr. Ke Hou from UCLA reveals that D-type peptides can disassemble tau fibrils without the need for enzymatic activity or external energy sources [3][15]. - The research introduces a new paradigm in amyloid protein studies, enhancing understanding of protein aggregation dynamics and inspiring innovative treatment strategies for Alzheimer's and other amyloid-related diseases [3][15]. Group 3: D-type Peptides Advantages - D-type peptides exhibit higher specificity and binding affinity compared to small molecules, with lower immunogenicity and resistance to proteolytic degradation [8]. - Previous studies indicated that D-type peptides could decompose tau protein fibers extracted from Alzheimer's patients and improve behavioral deficits in mouse models [8]. Group 4: Mechanism of Action - The study identified that D-type peptides assemble into amyloid-like fibers, which are essential for disassembling tau protein fibers [12]. - The tension released during the transition from left-handed to right-handed helical structures of these peptides is sufficient to disrupt local hydrogen bonds in tau fibers, leading to their disintegration [13][15]. Group 5: Implications for Treatment - The findings suggest that D-type peptides could revolutionize treatment methods for Alzheimer's disease and provide new tools for tackling other neurodegenerative diseases like Parkinson's and Huntington's disease [15]. - The stability, protease resistance, and good biocompatibility of D-type peptides allow them to cross the blood-brain barrier without eliciting harmful immune responses [15].
黄奇帆最新讲话!信息量大
21世纪经济报道· 2025-07-12 13:14
Core Viewpoint - The production service industry has five strategic functions that are crucial for economic development and should be given high importance [1][4]. Group 1: Strategic Functions of Production Service Industry - The production service industry is a growth driver for GDP and often becomes the largest sector in developed economies [1]. - It serves as the driving force for high-quality development in manufacturing, being the largest sector for unicorn companies globally [1]. - The production service industry is a growth engine for service trade, with insufficient development in China leading to a reliance on imported production services [1]. - It forms the basis for high added value in products, as seen in the example of a smartphone where a significant portion of the price is derived from production services [2]. - The production service industry is essential for the development of total factor productivity, requiring knowledge and talent-intensive inputs [2]. Group 2: Current Status and Challenges - Despite significant achievements in manufacturing, China lags in the production service industry, reflected in five key indicators: low GDP share, low service trade proportion, low manufacturing profit margins, low unicorn representation, and low total factor productivity [4]. - The goal for the period from 2021 to 2040 is to address these shortcomings by focusing on the development of the production service industry to promote high-quality manufacturing and the healthy development of new productivity [4].