公众号记得加星标⭐️，第一时间看推送不会错过。 来源：内容来自半导体行业观察综合 。 最近，因为三星、英特尔和日本Rapidus都有有关2nm以下工艺的更新进展消息。 一方面，英特尔CEO陈立武表示表示尽管英特尔有一个团队专注于Intel 14A的开发工作，但是目前 该制程节点取决于客户的承诺，既包括了英特尔本身，也包括了潜在的第三方客户，最重要的是，是 否有足够的业务让英特尔在即将到来的制程节点上赚钱。 因为据韩媒则爆料，特斯拉最初与台积电就AI6芯片的生产进行洽商，台积电因订单满载「生产困 难」，特斯拉转而选择三星。 韩媒《MK News》报导，半导体业内人士透露，此次三星与特斯拉的供货合约并非短时间内达成。 特斯拉在今年元月举行的2025年国际消费电子展会期间与三星电子进行接触，并在上周敲定最终合 约。 但报导也指出，这份合约也将成为三星泰勒厂的重要转折点，该工厂自2022年动工以来，已有四年多 未投入运营，AI6芯片将成为其首款量产产品。一位三星相关人士表示，「由于没有产品订单，我们 无法确认具体的制程或设备，但这份来自特斯拉的订单标志着第一步。工厂动工四年后，我们终于看 到了曙光。」 日本2纳米芯片 ...

Core Viewpoint - Beijing Yimiao Shenzhou Biopharmaceutical Co., Ltd. is advancing its IPO process on the Sci-Tech Innovation Board, having signed a counseling agreement with CITIC Securities on July 23 this year [2]. Company Overview - Founded in 2015, Yimiao Shenzhou focuses on innovative drug development using original research gene cell therapy for major diseases such as cancer and autoimmune diseases [2]. - The company has developed a one-stop platform for gene cell drug research and industrialization, with 7 clinical trial approvals in China and 1 in the United States for CAR-T new drugs [2]. Product Pipeline - The research pipeline includes treatments for hematological tumors such as lymphoma, leukemia, and myeloma, as well as solid tumors like liver cancer, gastric cancer, colorectal cancer, and melanoma [2]. - The CAR-T product IM19 targets relapsed or refractory diffuse large B-cell lymphoma (r/r DLBCL) and has submitted a New Drug Application (NDA) in China, which has been accepted [3]. - IM96 is the only CAR-T candidate drug globally that has received clinical trial approval in both China and the United States, specifically targeting GUCY2C [4]. Market Position - IM19's innovative CAR molecular design and production process provide more specific therapeutic effects, significantly improving survival time and quality of life for r/r DLBCL patients, thus filling a market gap for domestically developed CAR-T therapies in China [3]. - IM96 has been approved for treating colorectal cancer in China, marking it as the first CAR-T candidate for this indication in the country [4]. Financing and Investment - Yimiao Shenzhou has completed a total of 10 financing rounds since its establishment, with investors including Foothill Ventures, Tsinghua x-lab, and several other venture capital firms and funds [4].

Investment Rating - The investment rating for the biotechnology industry is "Positive" (maintained) [1] Core Insights - The global stock of multiple sclerosis (MS) patients is significant, with the market size exceeding $20 billion, primarily focused on relapsing forms of MS (RMS) [6][9] - BTK inhibitors are expected to fill the treatment gap in primary progressive MS (PPMS) and non-relapsing secondary progressive MS (nrSPMS) [7][9] - The anticipated release of clinical data for BTK inhibitors in the second half of 2025 is expected to enhance the attractiveness of the sector [9] Summary by Sections 1. Multiple Sclerosis Overview - MS is an immune-mediated inflammatory demyelinating disease of the central nervous system, characterized by "spatial" and "temporal" multiplicity [5][27] - The global and Chinese stock of MS patients is projected to reach 3.71 million and 60,000 respectively by 2030, with a CAGR of approximately 2.7% and 2.1% from 2025 to 2030 [19][22] 2. Market Size and Product Landscape - The global MS market is approximately $20 billion, with a focus on RMS treatments [6][40] - Existing products include monoclonal antibodies and oral therapies, with CD20 monoclonal antibodies expected to account for over 60% of sales by 2024 [6][46] 3. BTK Inhibitors and Clinical Development - BTK inhibitors are positioned to address unmet needs in the treatment of PPMS and nrSPMS, with several candidates in late-stage clinical trials [7][51] - Tolebrutinib and Fenebrutinib are expected to release pivotal clinical data in the second half of 2025, which could significantly impact their market potential [8][51] 4. Investment Recommendations - The ongoing clinical developments and the large patient base present significant investment opportunities in companies like 诺诚健华, 翰森制药, 云顶新耀, 恒瑞医药, and 百济神州-U [9]

Core Viewpoint - The company will present Phase II clinical data for its novel fully human only heavy chain anti-CTLA-4 antibody, HBM4003, in combination with Tislelizumab for microsatellite stable metastatic colorectal cancer (mCRC) at the 2025 European Society for Medical Oncology (ESMO) annual meeting in Berlin from October 17 to October 21, 2025 [1] Group 1 - HBM4003 is developed from the HCAb Harbour Mice® platform and is the first fully human only heavy chain antibody to enter clinical stages globally [1] - Compared to traditional anti-CTLA-4 antibodies, HBM4003 shows significantly enhanced Treg cell clearance and optimized pharmacokinetics, contributing to improved safety [1] - HBM4003 enhances antibody-dependent cellular cytotoxicity (ADCC), increasing the potential for selective clearance of intratumoral Treg cells, which may overcome efficacy and toxicity limitations of existing CTLA-4 therapies [1] Group 2 - The company has initiated a global development plan for HBM4003 targeting various solid tumors, employing an adaptive treatment design [1] - Positive efficacy and safety data have been observed in clinical trials for advanced solid tumors, both as monotherapy and in combination with PD-1 inhibitors for melanoma, colorectal cancer, neuroendocrine cancer, and hepatocellular carcinoma [1]

Core Viewpoint - The collaboration between Heng Rui Pharmaceutical and GlaxoSmithKline (GSK) marks a significant step in expanding Heng Rui's global market presence, with substantial financial implications and validation of its innovative research capabilities [3][4]. Group 1: Partnership Details - On July 28, 2025, Heng Rui Pharmaceutical announced a major collaboration with GSK, granting GSK exclusive global rights to HRS-9821 and up to 11 additional projects, excluding certain regions [3]. - GSK will pay Heng Rui an upfront fee of $500 million, with potential milestone payments totaling approximately $12 billion if all projects are successfully developed and commercialized [4]. Group 2: Market Expansion - The agreement allows GSK to leverage its international sales capabilities to help Heng Rui's products enter global markets, enhancing Heng Rui's position as a leading innovative pharmaceutical company in China [5]. - By potentially adding about 10% to its innovative drug pipeline through this collaboration, Heng Rui is expected to significantly boost its sales expectations and market valuation [5].

Core Viewpoint - China is committed to expanding high-level opening-up, leveraging its vast market potential to create new opportunities for global economic growth [1] Group 1: Panasonic - Panasonic's business in China accounts for 24.4% of its global operations, contributing 30% to its profits [5] - The company showcased a new rail station platform door solution at the expo, which has been implemented in 53 rail projects across 18 cities [2][3] - Panasonic has established deep collaborations with over 6,000 local suppliers in China, enhancing its supply chain stability and innovation [3] Group 2: Novo Nordisk - Novo Nordisk has introduced 22 innovative drugs and 11 injection devices in China by the end of 2024, focusing on diabetes and obesity treatment [7] - The company emphasizes local production and has partnered with local firms to optimize its supply chain management [6][7] - Novo Nordisk's "China Co-Creation" project aims to synchronize the approval of new drugs in China with global timelines, benefiting local patients [7] Group 3: Honeywell - Honeywell has developed a complete localized value chain in China, with over 95% of its exhibits at the expo being developed by local teams [9][10] - The company has established 10 R&D centers in China, focusing on innovations tailored to local market needs [10] - Honeywell's projects, such as the battery safety sensors for electric vehicles, are not only used domestically but also exported globally [10] Group 4: Schneider Electric - Schneider Electric has built 21 "zero-carbon factories" and 15 national "green factories" in China [11][14] - The company is leveraging AI and other advanced technologies to enhance production efficiency and reduce carbon emissions [12][14] - Schneider Electric views China as a critical hub for global supply chain innovation and sustainability [14]

Core Viewpoint - Chongqing Zhixiang Jintai Biopharmaceutical Co., Ltd. has received approval from the National Medical Products Administration for the clinical trial of its product, Sileweimi Monoclonal Antibody Injection, aimed at passive immunity for children and adolescents aged 2 to 18 suspected of rabies virus exposure [1][2]. Group 1: Drug Information - The drug Sileweimi Monoclonal Antibody Injection is a recombinant fully human bispecific antibody targeting the rabies virus (Rabies Virus, RABV) [2]. - It is classified as a Class 1 therapeutic biological product, with its action target being the glycoprotein (G protein) of RABV [2]. - The drug employs scFv+Fab structure and KIH technology to address heavy chain mismatch issues, and scFv fusion technology to resolve light chain mismatch issues [2]. - It is the world's first bispecific antibody for passive immunity against rabies, designed to ensure effectiveness against different strains or genotypes of the virus [2]. Group 2: Clinical Trial Approval - The clinical trial application for Sileweimi Monoclonal Antibody Injection has been approved for the indication of passive immunity in children and adolescents aged 2 to 18 suspected of rabies virus exposure [1][2]. - The approval is in accordance with the relevant requirements for drug registration under the Drug Administration Law of the People's Republic of China [1]. Group 3: Market Context - As of the announcement date, Sileweimi Monoclonal Antibody Injection is under review for new drug marketing application for adult passive immunity against suspected rabies virus exposure [2]. - Currently, only two rabies virus antibody drugs have been approved for marketing in China [2].

Group 1 - The company expects a net loss attributable to shareholders of the parent company for the first half of 2025 to be between -110 million and -140 million yuan, representing a reduction in loss of 96.84 million to 126.84 million yuan compared to the same period last year [2] - The expected net loss attributable to shareholders after deducting non-recurring gains and losses is projected to be between -160 million and -190 million yuan, indicating a reduction in loss of 80.33 million to 110.33 million yuan [2] - The previous year's net loss attributable to shareholders was -236.85 million yuan, with a net loss after deducting non-recurring gains and losses of -270.33 million yuan [4] Group 2 - The company anticipates a decrease in losses due to increased market expansion, with sales of Adalimumab injection (Geleli) expected to rise, contributing an additional revenue of 20 million to 50 million yuan compared to the previous year [6] - Research and development expenses are expected to decrease by 40 million to 70 million yuan compared to the previous year, primarily because several R&D projects have completed Phase III clinical trials, with BAT2206, BAT2306, and BAT2506 currently in the application stage for market approval [6] - BAT2206 has already received FDA approval for market launch in the United States, which has contributed to the reduction in R&D expenses [6]

每经讯，2025年7月29日，北交所上市公司三元基因（837344，收盘价：34.84元）登上龙虎榜，交易方式是连续竞价，披露原因 是当日收盘价涨幅达到20.76%，成交数量1438.74万股，成交金额4.83亿元。买一席位为国金证券股份有限公司深圳分公司，买 入1112.04万元；卖一席位为国泰海通证券股份有限公司深圳海岸城海德三道营业部，卖出1367.66万元。 | | 2025-07-29三元基因(837344) 龙虎榜 | | | | --- | --- | --- | --- | | 序号 | 交易营业部名称 | 买入金额(元) | 卖出金额(元) | | ポリ | 国金证券股份有限公司深圳分公司 | 11120395.2 | 5765598.34 | | 买2 | 机构专用 | 9274827.26 | 4197721.83 | | 考3 | 国联民生证券股份有限公司国联民生证券北京分公司 | 8837973.24 | 0 | | 买4 | 国信证券股份有限公司深圳红岭中路证券营业部 | 8127951.58 | 6179868.15 | | ન્નેર | 东方财富证券股份有限公司拉萨团结路第二 ...

Core Viewpoint - Astaxanthin, a highly effective antioxidant pigment, is gaining attention for its applications in food, cosmetics, and pharmaceuticals, with a recent study demonstrating a high-yield production system using Schizochytrium for both astaxanthin and DHA [1][3]. Group 1: Research Findings - The study reported an increase in astaxanthin content from 7.56 μg/g to 55.17 μg/g through electroporation-induced color screening [2]. - Further enhancement of astaxanthin content to 374.85 μg/g was achieved by overexpressing five key genes involved in the astaxanthin synthesis pathway [2]. - The final engineered strain produced astaxanthin at a yield of 29.53 mg/L (1.913 mg/g DCW) while maintaining DHA production at 3.83 g/L, constituting 45% of total lipid content [2]. Group 2: Implications for Industry - The reported astaxanthin yield represents the highest level achieved in Schizochytrium to date, laying a foundation for the commercial scalability of astaxanthin biosynthesis [3]. - The advancements in metabolic engineering and mutagenesis techniques highlight the potential for increased production efficiency in the biotechnology sector [1][3]. Group 3: Upcoming Events - The 4th Synthetic Biology and Green Bio-Manufacturing Conference (SynBioCon 2025) will be held from August 20-22 in Ningbo, focusing on AI and bio-manufacturing, green chemistry, new materials, future food, and agriculture [6][8]. - The conference will feature various activities, including a youth forum, high-level discussions, and a closed-door seminar on AI-enabled innovations in bio-manufacturing [6][7].