撰文丨王聪 编辑丨王多鱼 排版丨水成文 | 生命科学 5 人 | DJ | | --- | --- | | ○毛亚飞 男 上海交通大学 | | | ○ 徐通达 男 福建农林大学 | | | ○ 薛愿超 男 中国科学院生物物理研究所 | | | ○ 闫 | | | ○竺淑佳 女 南方科技大学 | | | 医学科学｜５人 | | 다 | | --- | --- | --- | | ○李 伟 | | 男 中国科学院动物研究所 | | ○林贤丰 男 浙江大学医学院附属邵逸夫医院 | | | | ○ 舒易来 男 复旦大学附属眼耳鼻喉科医院 | | | | ○ 徐和平 | | 男 西湖大学 | | ○ 周 | 青 | 女 浙江大学医学院附属邵逸夫医院 | | 前沿交叉 6人 | | --- | | ○ 陈明城 男 中国科学技术大学 | | ○ 司 廷 男 中国科学技术大学 | | ○宋 成 男 清华大学 | | ○ 陶光明 男 华中科技大学 | | ○ 张嘉満 女 复旦大学 | | ○ 赵方庆 男 中国科学院动物研究所 | 毛亚飞 2025 年 2 月 26 日，上海交通 大学 毛亚飞 团队 与中国科学院脑科学与智能技术 ...

Financial Data and Key Metrics Changes - Q1 revenues were $737 million, up 6% from Q1 last year [5] - Order bookings were $693 million, down 15% compared to Q1 last year [16] - Adjusted earnings from operations in Q1 were CAD 78.6 million, representing 10.7% of revenues [18] - Gross margin for Q1 was 29.8%, consistent with Q1 last year [18] - Cash flows from operating activities were CAD 156 million [22] - Net debt to adjusted EBITDA ratio was 3.6 times on a pro forma basis at Q1 [22] Business Line Data and Key Metrics Changes - In Life Sciences, order backlog at quarter end was $1.2 billion, with strong contributions from auto injectors and blood glucose monitoring wearables [6] - Food and Beverage backlog was $229 million, an increase of 6% compared to Q1 last year [8] - Energy sector saw growth primarily in nuclear refurbishment activities, particularly around CANDU reactors [42] - Consumer Products and Transportation sectors remained stable, with transportation experiencing lower EV end market demand [10] Market Data and Key Metrics Changes - The order backlog ended the quarter at approximately $2.1 billion, reflecting a healthy funnel across diversified offerings [5] - Orders in the first half of the calendar year were up over 10% year over year, excluding transportation [39] Company Strategy and Development Direction - The company is focused on returning leverage to its target range of 2 to 3 times and realizing further synergies from recent acquisitions [12][23] - The strategy includes growing repeatable revenue through services, consumables, and digital offerings [6] - The company remains committed to creating long-term value for shareholders and customers through strong execution and continued growth in targeted markets [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth outlook for the year, supported by a strong backlog and a trailing twelve-month book-to-bill ratio of 1.17 [33] - The company is closely monitoring the business environment due to cross-border tariffs but has not seen a material impact to date [20] - Management noted that while some customers in the lab research space are taking a more measured approach to capital spending, the overall outlook for Life Sciences remains positive [7] Other Important Information - ATS was included in Time Magazine's inaugural list of Canada's Best Companies 2025, ranking number one in the engineering, manufacturing, and medical technology category [14] - The company is actively engaged in M&A opportunities that align with long-term growth ambitions [11] Q&A Session Summary Question: Can you discuss the demand environment further? - Management noted that the trailing twelve-month book-to-bill ratio is 1.17, indicating alignment with growth targets and a healthy funnel of customer conversations [33][34] Question: What is driving the uptick in the energy business? - The growth in the energy sector is primarily driven by nuclear refurbishment activities, particularly around CANDU reactors, with a strong demand environment [42] Question: Can you provide an update on the integration process and cross-selling opportunities? - Integration across recent acquisitions is progressing well, with strong uptake in ABM deployments and cost synergies being realized [54] Question: How is the company addressing the impact of U.S. government funding changes on Life Sciences? - The impact is low, representing less than a single-digit percentage of the business, and has not materially affected overall Life Sciences performance [55] Question: What is the outlook for margin progression? - Management expects margin expansion for the year, driven by gross margin improvements and operational efficiencies, though variability is anticipated [88] Question: What is the status of the M&A pipeline during the leadership transition? - The company continues to pursue both organic and acquisition-related growth, with M&A activity ongoing despite the leadership transition [62]

Core Viewpoint - The collaborative research led by Chinese institutions and international scientists has achieved significant advancements in brain mapping at single-cell resolution, marking a leap from rodent to primate studies, with ten important results published in a special issue of the journal "Cell" [1] Group 1 - The series of results covers key species including reptiles, birds, rodents, non-human primates, and humans, expanding the international brain atlas in terms of cross-species comparison and spatiotemporal dynamics [1] - Unlike previous breakthroughs that focused on isolated points, this series of findings is expected to facilitate a transition from structural to functional research, providing new perspectives and critical tools for understanding the brain [1]

Core Viewpoint - Strengthening fundamental research is an urgent requirement for achieving high-level technological self-reliance and is essential for building a world-class scientific power [1][4] Group 1: Research Achievements - Huang Zhiwei's team discovered the structure of the HIV virus virulence factor, which had not been resolved for over 30 years, providing a foundation for developing anti-HIV drugs [2][4] - The research on the working mechanism of DNA molecular scissors Cpf1 was revealed in 2016, allowing for more efficient and precise gene editing [3] - In April 2024, a new family of RNA-guided DNA endonucleases was discovered, contributing to advancements in enzyme engineering for gene editing [3] Group 2: Research Environment and Philosophy - The establishment of the Life Sciences Center in 2016 provided a research environment that encourages free exploration, allowing previously overlooked researchers to develop their ideas [3][4] - Huang Zhiwei emphasizes the importance of hands-on involvement in experiments and detailed record-keeping to ensure reproducibility and high-quality research outcomes [2][4] - The center has nurtured many emerging researchers, some of whom have become independent scientific leaders [4] Group 3: Future Aspirations - Huang Zhiwei maintains a beginner's mindset, aiming to tackle significant scientific questions and explore the mysteries of life, contributing to the advancement of fundamental research in life sciences on a global scale [4]

Core Viewpoint - The article emphasizes the importance of plasmid extraction in the life sciences industry, highlighting the need to understand the challenges faced by professionals in this area [1]. Group 1: Survey Details - A survey is being conducted to gather insights from life science professionals regarding their experiences with plasmid extraction [2]. - The survey is open from June 20 to July 6, with various prizes available for participants, including 50 Xiaomi backpacks, 50 stylish umbrellas, 10 Xiaomi Bluetooth speakers, and 3 Apple AirPods Max valued at 3,999 yuan each [2]. Group 2: Participation and Rewards - Participants can join the survey by scanning a QR code or clicking on a link provided at the end of the article, which takes approximately 30 seconds to complete [4]. - After the survey closes, the organizers will verify the responses and select winners for the prizes [5]. - The list of winners will be announced in an article published on July 18 on the "Instrument Information Network" public account [6].

Core Findings - Researchers from Kyoto University and Ritsumeikan University discovered that exposure to bisphenol A (BPA) and retinoic acid during early development significantly increases the risk of abnormalities in brain, nerve, and facial structure formation in zebrafish embryos [1][2] - BPA is commonly used in plastic production and is found in various consumer products, raising concerns about its impact on reproductive and endocrine health, as well as its potential link to conditions like infertility, cancers, allergies, obesity, and autism [1] - The study published in the journal Environmental Health Perspectives indicates that while BPA alone does not affect the expression of HOX genes, the presence of low concentrations of retinoic acid alongside BPA leads to a significant increase in HOX gene expression [1] Experimental Results - The zebrafish embryo experiments showed that simultaneous exposure to BPA and retinoic acid resulted in abnormal expression of hindbrain-related genes and increased probability and severity of abnormalities in craniofacial cartilage [2] - The hindbrain is a critical region in vertebrate embryos that will differentiate into structures such as the cerebellum and medulla [2] - The research team emphasized the need to pay special attention to the combined effects of plastic chemicals and other active substances on developmental health, as low concentrations of certain substances may not pose significant risks when isolated [2]

Group 1 - The article highlights the publication of six research papers by Chinese scholars in the prestigious journal Cell, covering various topics in biology and evolution [2] - The studies include the reconstruction of the ant phylogenetic tree, octopus sensory perception of environmental microbes, skin microbiomes of Indigenous Malaysians, new strategies for disease-resistant crop breeding, digital reconstruction of full embryos, and insights into the appearance of Denisovans [2][4][9][14][19][24][29] Group 2 - The study on ants integrated genomic data from 163 ant species, clarifying their complex phylogenetic relationships and tracing their common ancestor back to approximately 157 million years ago during the Jurassic period [6] - The research on octopuses explored how environmental microbiomes influence their sensory receptors and behavior, providing new evidence for co-evolution between microbes and animals [11] - The investigation into Indigenous Malaysians' skin microbiomes revealed unique microbial communities and insights into chronic fungal infections, potentially informing treatment strategies [16] - The crop breeding study demonstrated that co-delivery of immune receptors can enhance disease resistance across diverse plant species, offering new strategies for sustainable agriculture [21] - The digital reconstruction of mouse embryos at single-cell resolution provided significant insights into early organogenesis and a unique platform for studying development and disease [26] - The research on Denisovans successfully extracted ancient DNA from dental calculus, linking it to a nearly complete skull fossil and enhancing understanding of human evolutionary history in East Asia [30]

Bi o -Ra d董事长兼首席执行官No rma n Sc hwa rt z表示："我们度过了一个充满活力的第一季度，这一季度的挑战越来越 大，但通过专注的执行和谨慎的费用管理，我们实现了稳定的利润率。鉴于目前市场的不确定性，我们正在调整对 2 0 2 5年全年的预测，以反映不断变化的宏观环境。展望未来，我们将继续致力于推进我们的增长和利润率扩张计划。" 2 0 2 5年第一季度业绩情况 2 0 2 5年第一季度总净销售额为5 . 8 5 4亿美元，与2 0 2 4年第一季度的6 . 1 0 8亿美元相比下降了4 . 2%。在货币中性的基础 上，季度销售额与2 0 2 4年同期相比下降了1 . 5%，主要是由于生命科学部门的销售额下降。 生命科学部门第一季度净销售额为2 . 2 8 6亿美元，与2 0 2 4年同期相比下降了5 . 4%。在货币中性的基础上，生命科学部 门的销售额与2 0 2 4年同期相比下降了3 . 5%。与去年同期相比，销售额的下降与汇率无关，主要是由于学术研究市场 （尤其是美洲市场）面临的持续挑战。 临床诊断部门第一季度净销售额为3 . 5 6 8亿美元，与2 0 2 4年同期相比下降 ...