信铭生命科技(00474)发布截至2025年9月30日止六个月业绩，该集团期内取得收入2900万港元，同比增 加26.09%;公司拥有人应占利润3.86亿港元，同比扭亏为盈;每股基本利润5.27港仙。 ...

天眼查App显示，近日，盟邦生物科技（广东）有限公司成立，注册资本500万人民币，经营范围为一 般项目：技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；塑料包装箱及容器制造； 金属包装容器及材料制造；互联网销售（除销售需要许可的商品）；食品用塑料包装容器工具制品销 售；食品销售（仅销售预包装食品）；食品互联网销售（仅销售预包装食品）。（除依法须经批准的项 目外，凭营业执照依法自主开展经营活动）许可项目：食品销售；食品生产；食品互联网销售。（依法 须经批准的项目，经相关部门批准后方可开展经营活动，具体经营项目以相关部门批准文件或许可证件 为准）。 ...

"一煤独大""资源依赖"曾是市场对煤炭大省山西的刻板印象，也是地方产业曾急需突破的发展瓶颈。 作为国家资源型经济转型综改试验区，"十四五"时期，山西省将资本市场作为推动产业升级的核心引擎，逐步构建起"以煤为基、多元发展"的产业体系， 有效实现转型突破。 站在"十五五"起跑线，山西紧扣"两步走"战略目标，将推动资本市场与产业经济深度融合，为基本建成国家新型能源基地和中部地区高质量发展标杆注入 强劲资本动能。 资本助力提质 经营业绩稳步增长 "境内上市公司总量达到41家，总市值提升至8392.34亿元，利润总额期间提升幅度达91.84%。"回顾"十四五"时期资本市场对企业的助力成果，山西证监 局相关负责人在接受证券时报记者采访时提及，借助股权融资、债券发行等工具，山西辖区上市公司实现了资本结构优化与战略转型加速的双重突破，战 略性新兴产业上市公司占比提升，形成"龙头企业引领、创新企业跟进"的多层次格局。 山西辖区上市公司营业收入规模从3222.73亿元增至5614.33亿元，增长74.21%。其中，太钢不锈营业收入突破1000亿元；山西汾酒营收规模从2020年的 139.9亿元，增长至2024年的360.11亿元 ...

编辑丨王多鱼 排版丨水成文 在生命的微观世界中，清晰"看见"驱动生命运转的分子机器——蛋白质、核酸及其他生物大分子，是理解 其功能、揭示疾病机制和开发创新药物的关键。近年来， 冷冻电子显微镜技术 （cryo-EM） 掀起了一场" 分辨率革命 "，使得科学家可以在原子尺度上捕捉生命机器的瞬时三维图像，极大程度加速了生物学各领域 的分子机理研究。然而，这一强大技术长期面临一个严重瓶颈： 数据处理流程复杂、耗时且高度依赖专家 经验。 2025 年 11 月 27 日，西湖大学 申怀宗 、 原发杰 团队合作 （ 颜阳 、 范诗奇 为论文共同第一作者 ） ，在 Nature Methods 期刊发表了题为： A comprehensive foundation model for cryo-EM image processing 的研究论文。 Cryo-IEF ： 让 AI " 理解 " 冷冻电镜图像 面对上述挑战，以往 AI 方案多聚焦于开发针对 冷冻电镜数据处理特 定步骤的 "工具"，如自动 挑选蛋白 质 颗粒或 进行图像 二维分类 筛选 ，但 完整的数据处理流程仍 需大量人工干预，未能实现 完全 自动 化。西湖大 ...

Core Viewpoint - The Hong Kong pharmaceutical sector has attracted significant market attention this year, with southbound funds net buying over 160 billion yuan in the healthcare industry, ranking third among 12 Hang Seng primary sectors [1] Group 1: Policy and Industry Dynamics - The surge in southbound funds is driven by a threefold resonance of policy, industry, and capital, creating new opportunities for the biopharmaceutical sector [2] - Recent policies, including measures to support high-quality development of innovative drugs and the introduction of a fast-track listing process for unprofitable biotech firms, have injected strong momentum into industry innovation [2] - As of Q3, there are over 100 biopharmaceutical companies listed on the Hong Kong Stock Exchange, with a total market capitalization accounting for approximately 15% of the Hong Kong stock market [2] - China's innovative drug R&D capabilities are steadily improving, with the number of innovative drug pipelines expected to reach 4,804 by 2024, second only to the United States globally [2] - The compound annual growth rate (CAGR) of license-out transaction amounts for Chinese innovative drugs from 2019 to 2024 is as high as 125%, indicating a rapid internationalization of the sector [2] Group 2: Financial Environment - The liquidity of the Hong Kong pharmaceutical sector is expected to improve continuously due to the onset of the Federal Reserve's interest rate cut cycle and a more accommodative domestic monetary policy [3] - From January to August this year, the financing amount for domestic innovative drugs increased by over 40% year-on-year, reflecting a rapid recovery in the sector's financing vitality [3] Group 3: Investment Opportunities - The newly launched Hang Seng Biotech ETF (Fund Code: 159132) aims to provide investors with an efficient tool to invest in leading biotech companies listed in Hong Kong [4] - The Hang Seng Biotech Index, which the ETF tracks, includes 30 leading biotech, pharmaceutical, and medical device companies, with nearly 90% of its weight focused on high-growth sectors like innovative drugs and CXO [4] - The index has shown a cumulative increase of 58.9% since its inception, significantly outperforming the Hang Seng Healthcare Index (19.8%) and the Hang Seng Index (12.5%) [5] - The launch of Hang Seng Biotech Index futures on November 28 is expected to enhance market liquidity and trading activity by attracting institutional investors [5] Group 4: Management Expertise - The proposed fund manager for the Hang Seng Biotech ETF is a seasoned professional with over 12 years of experience in securities and more than 8 years in investment management, specializing in quantitative investment [6][7]

Core Viewpoint - The Hong Kong pharmaceutical sector has attracted significant market attention this year, with southbound funds net buying over 160 billion yuan in healthcare, ranking third among 12 Hang Seng primary industries [1] Group 1: Policy and Industry Dynamics - The surge in southbound funds in the Hong Kong pharmaceutical sector is driven by a combination of policy support, industry advancements, and capital influx, creating new opportunities for the biopharmaceutical industry [2] - Recent policies, including measures to support high-quality development of innovative drugs and the introduction of a fast-track listing process for unprofitable biotech companies, have provided strong momentum for industry innovation [2] - As of Q3, there are over 100 biopharmaceutical companies listed on the Hong Kong Stock Exchange, with a total market capitalization accounting for approximately 15% of the Hong Kong stock market [2] - China's innovative drug research and development capabilities are steadily improving, with the number of innovative drug pipelines expected to reach 4,804 by 2024, second only to the United States [2] - The license-out transaction value for Chinese innovative drugs has seen a compound annual growth rate of 125% from 2019 to 2024, with nearly 50 billion USD in overseas transactions expected in the first half of 2025 [2] Group 2: Financial Environment - The liquidity in the Hong Kong pharmaceutical sector is expected to improve, supported by the Federal Reserve's interest rate cuts and a more accommodative domestic monetary policy [3] - From January to August this year, the financing amount for domestic innovative drugs increased by over 40% year-on-year, indicating a rapid recovery in financing vitality within the sector [3] Group 3: Investment Opportunities - The upcoming launch of the Fuguo Hang Seng Biotechnology ETF (Fund Code: 159132) on December 1 aims to provide investors with an efficient tool to invest in leading biotech companies listed in Hong Kong [1][4] - The Hang Seng Biotechnology Index, which the ETF tracks, includes 30 leading biotech, pharmaceutical, and medical device companies, focusing on high-growth sectors such as innovative drugs and CXO services, with nearly 90% combined weight [4] - The index has shown a cumulative increase of 58.9% since its inception, significantly outperforming the Hang Seng Healthcare Index and the Hang Seng Index [5] - The introduction of futures for the Hang Seng Biotechnology Index on November 28 is expected to enhance market liquidity and attract more institutional investors [5]

Group 1 - The Hong Kong Stock Exchange launched the "Hang Seng Biotechnology Index Futures" on November 28, marking an important expansion of the Hong Kong stock derivatives system and providing a dedicated risk management tool for the biotechnology sector [1] - The biotechnology industry is characterized by high volatility and high growth, with the annualized volatility of the Hang Seng Biotechnology Index reaching 39.4% as of October 31, 2025 [1] - The introduction of index futures aims to provide institutions with a "risk management foundation," allowing them to hedge volatility while capturing growth through ETFs [1] Group 2 - The Hang Seng Medical ETF focuses on two high-growth sectors: "innovative drugs + CXO," and underwent its largest-ever adjustment in September, reducing its constituent stocks from 50 to 30, thereby enhancing the purity of core assets [2] - The latest weighted stocks in the ETF include globally competitive innovative drug and R&D service companies such as BeiGene, WuXi Biologics, Innovent Biologics, and CanSino Biologics, with the top ten constituent stocks accounting for 70% of the total weight [2] - Historically, the Hang Seng Biotechnology Index saw a peak increase of 112% this year, and as of November 27, it recorded a year-to-date increase of 83.36%, significantly outperforming the broader market [2]

11月28日，有一只新股申购，为科创板的百奥赛图（688796.SH）。招股书显示，该公司是一家以基因 编辑模式动物制备、创新模式动物繁殖与供应、临床前药理药效评价以及抗体药物发现四个技术平台为 一体的企业。2022年，百奥赛图登陆港交所，被誉为"基因编辑第一股"。早在2023年6月，百奥赛图便 向上交所递交了科创板上市申请，但此后推进节奏放缓。 | 拟投入募集资金金额 | | --- | | (17 = ) | | 药物早期研发服务平台建设项目 | 4.54 | 38.28% | | --- | --- | --- | | 抗体药物研发及评价项目 | 3.16 | 26.70% | | 临床前研发项目 | 1.65 | 13.92% | | 补充流动资金 | 2.50 | 21.10% | 技术方面，高效、稳定的基因编辑平台是百奥赛图业务的重要基石。发展至今，百奥赛图熟练掌握了多 种主流的基因编辑技术，这些技术极大地提升了基因编辑效率，突破了以往技术对基因改造序列长度的 限制。凭借高效稳定的技术、成熟的操作流程以及完善的质控体系，截至2025年6月30日，公司累计为 客户完成各类定制化基因编辑项目约5300 ...

2025年10月14日，恒生生物科技指数期货推出计划正式公布，合约将于11月28日进入正式交易，相应标 的为恒生医药ETF(159892)。恒生生物科技指数也成为港股五年来首个新增指数期货，这充分表明医药 行业在港股主题投资的地位显著提升。这一产品的落地，不仅丰富了恒生指数系列衍生产品的覆盖范 围，也进一步强化了港股生物科技产业生态圈在风险管理与资本配置维度的能力，为板块长期发展注入 新动能，有望给相关指数成分股投资带来大量新增资金。 聚焦核心赛道 生物科技产业投资价值凸显 自2019年12月推出以来，恒生生物科技指数始终聚焦香港上市且符合港股通交易资格的30家头部生物科 技企业，精准捕捉行业发展脉络。从行业结构来看，该指数权重高度集中于创新药、CXO(医药研发外 包)两大核心领域，合计占比近九成，能够纯粹反映中国生物科技产业的核心发展趋势。 (责任编辑：叶景) 在成分股构成上，指数涵盖多家通过港交所18A章节上市的创新型企业。这些企业手握前沿技术平台和 丰富研发管线，形成了A股市场稀缺的优质投资标的池，也为指数注入了强劲增长动力。截至2025年11 月25日，恒生生物科技指数年内涨幅超80%，显著超越恒生综 ...

Core Insights - Shijiazhuang Chenbin Biotechnology Co., Ltd. has been established with a registered capital of 50,000 RMB and is represented by Ai Libin [1] Company Overview - The company is engaged in a variety of business activities including technology services, development, consulting, and transfer [1] - It is involved in the production and sales of chemical products, excluding licensed chemical products [1] - The company focuses on research and development of biological feed, sales of machinery and feed raw materials, and sales of feed additives and fertilizers [1] Business Scope - The operational scope includes the sale of biological organic fertilizers, chemical fertilizers, agricultural products, and primary agricultural product acquisition [1] - The company also engages in the wholesale and retail of hardware products, wood processing, and sales of building materials and wood [1] - It has the capability for import and export of goods, subject to legal regulations [1] Licensing and Regulatory Compliance - The company is authorized to produce feed, feed additives, and fertilizers, which require approval from relevant authorities before operations can commence [1]