证券日报网讯2月4日，成大生物在互动平台回答投资者提问时表示，股价波动受宏观环境、行业周期、 市场情绪等多方面因素影响。公司高度重视市值管理工作，基于公司长期发展战略，在保持主营业务稳 健发展的同时，拟投资设立生物医药产业基金及成立创新药子公司，把握产业升级机遇，加快推进产业 布局，打造公司的第二增长曲线，为公司中长期发展注入新动能，努力提升公司内在价值，回报广大股 东的长期信任与支持。 ...

Core Viewpoint - Suwen Electric Power (300982.SZ) aims to enhance its strategic development in the new energy and new materials sectors by investing in a partnership fund to improve its sustainable development and competitive capabilities [1] Group 1: Investment Details - Suwen Electric's wholly-owned subsidiary, Sibell Electric Power Investment Co., Ltd., has signed a partnership agreement to invest in the Ningbo Jianshi Zhisheng Venture Capital Partnership [1] - The total committed capital for the partnership fund is RMB 215.01 million, with Sibell contributing RMB 15 million, representing 6.9764% of the total [1] Group 2: Investment Focus - The primary investment directions for the partnership fund include new materials, new energy, semiconductor industry chain, and biomedicine [1]

Group 1 - The number of IPOs in A-shares and Hong Kong stocks is expected to increase in 2025, with a total of 263 companies, up by 44 from 219 in 2024 [3][6] - The institutional penetration rate for IPOs in A-shares and Hong Kong stocks exceeded 90% in 2025, marking the highest level in five years [6][9] - A total of 1,591 A-share listed companies experienced share reductions in 2025, with 7,452 reduction events totaling 239 billion shares and a corresponding transaction amount of 425.2 billion RMB [6][14] Group 2 - The number of mergers and acquisitions (M&A) transactions in 2025 reached 1,345, a 4% increase year-on-year, with a total transaction value of 602.1 billion RMB, up 17% from 2024 [19] - Local state-owned assets engaged in 526 buy transactions in 2025, with a total M&A transaction amount of 102.5 billion RMB, indicating their significant role in the M&A market [21] - The trend of old share transfers and repurchase transactions is consistent, with both focusing on "hard technology" sectors, particularly in biomedicine and semiconductors [23][27] Group 3 - In 2025, the top investment institution for IPOs was Sequoia China, with 16 companies successfully listed, followed by Shenzhen Capital with 15 listings [11][12] - The reduction amounts in various sectors showed a significant increase, with the Shanghai Stock Exchange main board leading in reduction amounts, followed by the Shenzhen Stock Exchange Growth Enterprise Market [16][18] - The participation of investment institutions in repurchase transactions reached 85% in 2025, indicating a growing influence in the market [25]

目前产业创新体系与高校人才供给之间"节奏不一致、任务不对齐、资源不共享" "面对新质生产力发展的迫切需求，建议推进校企共同体化、课程项目化、资源平台化、评价闭环化的 新模式，这需要打破编制围墙、校际围墙。"周立旻告诉第一财经，一方面，可以成立集成电路、生物 医药、人工智能"先导产业"跨校育人联盟；建立统一课程目录、实验资源共享平台和学分互认机制，允 许学生跨校修读核心课程。 另一方面，还可以实施"校企双聘、双向流动"的人才互认机制；在试点高校设立"产业教授"特区，赋予 企业领军人才与高校教授同等的学术话语权，通过"企业专家入校"来构建一支既懂学术前沿、又精通工 程实践的复合型导师队伍。此外，也要鼓励高校青年教师到企业挂职"科技副总"，挂职期间保留编制、 工龄连续计算，并将企业技术攻关成果视同高水平论文，作为职称评定的硬指标。 "现阶段，我们的产业升级迭代速度远超以往，产研用的内涵正在发生深刻变革，这些变革包括：AI赋 能下的科学研究周期发生变化、科技创新的范式（与市场反馈紧密贴合）发生转变，产研用的传统壁垒 被打破等。"上海市政协委员、上海创智学院党委书记丁晓东说。 上海创智学院采取"学习研究+实战创业"的培 ...

会上，上海科创集团、上海国投先导基金、上海市未来产业基金、嘉定科投集团、鼎峰未来产业基 金、中科神光、星环聚能、储能研究院等单位作为"合伙人"，签约共建科创产业投资生态。各方 将依托"基金+基地"模式，搭建"政府引导、资本撬动、企业主体、协同共建"的科创产业投资生 态。7家来自上市公司、科研院所、社会资本的"新成员"加入科创联盟，为联盟发展增添新鲜血 液。 来源：上海嘉定 每日｜荐读 热文： 谁押中了沐曦股份？ 荐读： 2025募资市场年度观察：一年聊过239家LP的真实感受 2月3日，以"科创聚势，嘉速未来"为主题的嘉定科创产业发展合作联盟2025年度会议举行。会 上，嘉定区未来产业基金启航。作为由政府指导、市场化运作的政府投资基金，嘉定区未来产业基 金总规模达8亿元，首期规模2亿元，由区级财政、区属国企及街镇集体企业共同出资。该基金聚 焦未来智能、未来能源、未来材料、未来健康、未来空间五大核心赛道，采用"子基金投资+直接 投资"模式，重点支持具有颠覆性、多学科交叉特点以及前沿平台性技术的早期孵化和项目投资。 "嘉定作为上海国际科创中心重要承载区，有非常突出的科技资源优势。'十五五'期间，我们将重 点聚焦未 ...

近年来，新质生产力持续引发境外媒体与国际专家学者高度关注，而新质生产力正为中国高质量发展提 供澎湃动力。2026年，中国将围绕发展新质生产力，推动科技创新和产业创新深度融合。目前，中国高 新技术企业超过50万家，全球百强科技创新集群数量达26个。从新能源车到人工智能，从生物医药到航 天工程，中国的创新正在加速落地，转化为世界共享的发展红利。世界正在被创新重塑，中国正以蓬 勃"新"力量参与其中。 ...

Group 1 - The pharmaceutical industry is experiencing continuous catalytic developments, with significant capital inflow into the Science and Technology Innovation Drug ETF (Guotai, 589720), which has seen nearly 1 billion yuan in net inflows over the past 20 days, indicating active capital positioning [1] - According to Zhongtai Securities, the raw material drug/intermediate industry has undergone 4-5 years of price decline, and with the rise in commodity and upstream chemical prices, a price improvement is expected. Most API product prices are at historical low levels, with limited profit margins and a low probability of further decline, showing a significant stabilization trend [1] - Innovative drug sectors such as small nucleic acids, peptides, and ADC toxins are continuously catalyzing the industry chain, contributing new business increments for raw material drug companies [1] Group 2 - The Science and Technology Innovation Drug ETF (Guotai, 589720) tracks the Science and Technology Innovation Drug Index (950161), which has a daily price fluctuation limit of 20%. This index focuses on new drug research and development driven by technological innovation, covering companies in the biopharmaceutical and chemical pharmaceutical sectors with high R&D investment and innovation capabilities, reflecting the overall trend of innovation development in China's pharmaceutical industry, with a focus on growth style in its allocation [1]

Core Insights - Tosun Pharmaceutical, a biopharmaceutical innovation company founded by Professor Liu Yongjun, has completed a $40 million angel round financing [1] - The financing round was led by Qiji Investment and Jiadao Capital, with participation from several notable institutions including Hongning Hengtai, Betta Pharmaceuticals, Tigermed, and others [1] - The raised funds will primarily be used to advance the research and development of third-generation antibody-drug conjugates (ADCs), focusing on multi-target layouts, innovative design of differentiated payloads, and the development of oncology pipelines [1]

Core Viewpoint - Baosai Tu-B (02315) has seen a significant stock price increase of over 5%, currently trading at HKD 47.96, with a transaction volume of HKD 69.87 million [1] Financial Performance - The company forecasts its 2025 annual revenue to be approximately HKD 1.369 billion to HKD 1.389 billion, representing an increase of HKD 389 million to HKD 408 million compared to the previous year, with a year-on-year growth rate of 39.61% to 41.65% [1] - The expected net profit attributable to shareholders is projected to be around HKD 162 million to HKD 182 million, an increase of HKD 129 million to HKD 149 million from the previous year, indicating a substantial year-on-year growth of 384.26% to 443.88% [1] Market Insights - Guolian Minsheng Securities believes that the high demand for innovative animal models and preclinical CRO services is driving significant revenue growth [1] - The company has established partnerships with several leading domestic and international pharmaceutical companies since 2025, and multiple pipelines have received IND approvals, which are expected to generate milestone payments and further enhance growth potential [1]

Economic Growth Targets - Shanghai's economic growth target for 2026 is set at 5%, slightly lower than the 5.4% growth achieved in 2025, with GDP reaching 5.67 trillion yuan [2][4] - In 2025, Shanghai's key economic indicators, including consumption, exports, and investments, all showed growth exceeding the national average [2][4] Key Economic Indicators - Retail sales in Shanghai grew by 4.6% in 2025, surpassing the national average of 3.7% [7] - The total foreign trade volume in Shanghai reached 45.1 trillion yuan in 2025, with a growth rate of 5.6%, also above the national average of 3.8% [10] - Fixed asset investment in Shanghai increased by 4.6% in 2025, significantly better than the national average decline of 3.8% [5] Income and Employment - The per capita disposable income in Shanghai reached 91,987 yuan in 2025, marking a 4.1% increase, which is lower than the GDP growth rate [9] - The average urban unemployment rate in Shanghai was 4.2% in 2025, with a target to keep it below 5% in 2026 [9][8] Strategic Industries - The three leading industries in Shanghai—integrated circuits, biomedicine, and artificial intelligence—saw manufacturing output growth of 9.6% in 2025, with integrated circuits growing by 15.1% [4][6] - Strategic emerging industries accounted for 45% of Shanghai's industrial output, with a 6.5% increase in output in 2025 [4] Consumption and Services - The government plans to enhance consumption by promoting initiatives such as the transformation of key shopping districts and the introduction of consumption vouchers [3][8] - In 2025, Shanghai's service sector saw significant growth, with a focus on cultural, tourism, and health services to boost consumption [8] Export Performance - Shanghai's exports reached a record high of 20.15 trillion yuan in 2025, with a growth rate of 10.8% [10] - The export of high-end manufacturing products, including electric vehicles and industrial robots, showed significant growth, with electric vehicle exports exceeding 100 billion yuan [11] Future Development Plans - Shanghai aims to establish a national service trade innovation development demonstration zone by 2026, focusing on high-end design and knowledge-intensive service trade [12][10] - The city plans to develop the low-altitude economy and other emerging industries as new growth points [5][6]