Core Viewpoint - COFCO Technology (301058) emphasizes its commitment to technological innovation and aims to enhance its development capabilities through extensive specialized research in technology [1] Group 1: Technological Focus - The company is actively conducting specialized and interdisciplinary research to address industry challenges and hot topics [1] - COFCO Technology is dedicated to accelerating process improvements, equipment upgrades, and digital intelligence empowerment [1] Group 2: Smart Solutions - The company focuses on smart warehousing, smart factories, smart terminals, and smart parks to create efficient "professional process technology + digital intelligence solutions" [1]

Core Viewpoint - The article discusses the recent approval of the arginine technology transformation project by Ningxia Yipin Biotechnology Co., Ltd., highlighting its significance in enhancing production capacity and efficiency in the amino acid manufacturing sector [2][3]. Project Overview - Project Name: Arginine Technology Transformation Project of Ningxia Yipin Biotechnology Co., Ltd. [3] - Construction Unit: Ningxia Yipin Biotechnology Co., Ltd. [3] - Nature of Construction: Technology transformation [3] - Industry Category: C1495 Food and Feed Additive Manufacturing [3] - Location: Yinchuan City, Ningxia Hui Autonomous Region [3] - Scale: The project aims to upgrade the existing L-arginine production line to produce feed-grade L-arginine, with an annual output of 10,000 tons post-transformation [3][4]. - Total Investment: 65.5157 million yuan, with 900,000 yuan allocated for environmental protection, accounting for 1.37% of the total investment [3]. - Construction Timeline: Expected to commence in June 2025 and complete trial production by September 2025, with a construction period of approximately 3 months [3]. Construction Details - The project will utilize the existing production facilities and fermentation equipment to enhance the production of arginine [4]. - New equipment to be acquired includes ceramic membranes, triple-effect crystallizers, fluidized beds, automatic packaging machines, and palletizers [4]. Product Capacity - Current Production Capacity: 4,000 tons of feed-grade L-arginine [5]. - Post-Transformation Capacity: 10,000 tons of feed-grade L-arginine, an increase of 6,000 tons [5]. - The new strain used in the project (Arg25-01) has an acid production rate approximately 2.5 times higher than the existing strain (Arg004-13), facilitating the increased capacity [5]. Existing Product Portfolio - The company is a leading player in the global bio-amino acid sector, with products including animal nutrition, food additives, and plant nutrition complex fertilizers [7]. - Key products include lysine, threonine, tryptophan, valine, and arginine, among other amino acid feed additives [7].

Core Viewpoint - Zhejiang Huakang Pharmaceutical Co., Ltd. reported a revenue increase of 37.32% in the first half of 2025, driven by the gradual production of new lines in Zhoushan Huakang, despite a slight decline in net profit due to changes in product sales structure and increased financial costs [2][3][14]. Company Overview and Financial Indicators - The company achieved an operating income of approximately 1.87 billion yuan, up from 1.36 billion yuan in the same period last year [2][3]. - Total profit for the period was approximately 150.41 million yuan, a 2.89% increase year-on-year [2][3]. - Net profit attributable to shareholders was approximately 133.71 million yuan, a decrease of 3.38% compared to the previous year [2][3]. - The net cash flow from operating activities was approximately 83.16 million yuan, an increase of 247.72% year-on-year [2][3]. Industry Analysis - The functional sugar alcohol market is projected to reach 7.7 billion USD by 2030, with a compound annual growth rate (CAGR) of about 6.7% [4]. - In China, the production of functional sugar alcohols has shown a stable growth trend, with production expected to exceed 1.89 million tons by 2024, reflecting a 14.49% increase from 2023 [4][5]. - The market size for functional sugar alcohols in China was approximately 10.2 billion yuan in 2022, with expectations to reach 21 billion yuan by 2027 [4][5]. Main Business Overview - The company specializes in the research, production, and sales of various functional sugar alcohols and starch sugar products, including xylitol, sorbitol, maltitol, erythritol, and fructose syrup [8][12]. - The company has established a strong reputation and brand advantage in the sugar alcohol industry, being recognized as a leading manufacturer of xylitol and other sugar alcohols [12][17]. - The company has built a comprehensive sales network covering major domestic and international markets, establishing long-term partnerships with well-known food and beverage companies [12][19]. Competitive Advantages - The company has developed a complete industrial chain around its main products, ensuring stable and sustainable profitability [16][18]. - The company is actively expanding its production capacity and product variety through ongoing projects, such as the 200,000-ton corn deep processing health food ingredient project [14][16]. - The company has a well-experienced management team with a strong understanding of the industry, which enhances its market competitiveness and operational efficiency [19].

Project Overview - The project is named "Jinan Baijie High-Performance New Enzyme Preparation R&D and Industrialization Construction Project" [2] - The construction unit is Jinan Baijie Biological Engineering Co., Ltd., located in the Shanghe Chemical Industry Park, Jinan, covering an area of 70,067.81 m² (approximately 105.1 acres) [2] Investment and Construction Details - The total investment for the project is 775.49 million yuan, with phase one investment at 562.24 million yuan and phase two at 213.25 million yuan [3] - Environmental investment for phase one is 41.59 million yuan (7.39% of total investment), and for phase two is 6.21 million yuan (2.91% of total investment), all funded by the company [3] - The construction period for both phases is 21 months each [4] Production Capacity and Facilities - The project includes the construction of a fermentation workshop with a total of 12 fermentation tanks (6 in each phase), and two extraction and blending workshops [4] - The total production capacity for high-performance new enzyme preparations will be 45,000 tons per annum (t/a), with each phase contributing 22,500 t/a [4] Existing Product Situation - The northern fermentation workshop has been out of production for several years, while the southern workshop is operational [6] - The northern workshop has an annual production capacity of 1,500 tons for α-galactosidase, while the southern workshop has capacities of 5,200 t/a for liquid single enzyme products, 3,000 t/a for liquid proteases, and 8,000 t/a for liquid glucose oxidase and liquid fat enzymes, totaling 17,700 t/a for the entire plant [7] Company Background - Jinan Baijie Biological Engineering Co., Ltd. was formerly known as Jinan Nuoneng Biological Engineering Co., Ltd. and is a wholly-owned subsidiary of Kingsoft Bio-Technology (HK01548), established in 2009 [9] - The company specializes in the R&D, production, and sales of biological enzyme preparations, focusing on feed and industrial enzyme preparations, with core products including glucose oxidase, phytase, and compound enzymes [10]

Project Overview - The project is named "Baikaiseng (Jiangsu) Biotechnology Co., Ltd. New Green Biosynthesis Industrialization Project" with a total investment of 120 million yuan, including 6.13 million yuan for environmental protection [2] - The project will be located in Lianyungang City, Jiangsu Province, covering an area of 29,597 square meters (approximately 44.39 acres) [2] - Construction is planned to start in June 2025 and be completed by December 2025 [2] Production Capacity and Products - The project will establish an automated flexible fermentation production line with a total annual production capacity of: - Squalene: 180 tons - Ergothioneine: 10 tons - Rebaudioside M: 50 tons - Valencene: 20 tons - Ectoine: 40 tons [2][3] - The production lines will operate for varying hours annually, with Squalene production running for 4,728 hours and Ergothioneine for 600 hours [3] Product Applications - Squalene: Used as a dietary supplement to improve fatigue and enhance immunity, suitable for high-pressure or hypoxic environments [5] - Ergothioneine: A natural antioxidant used as a dietary supplement with anti-inflammatory and neuroprotective effects [6] - Ectoine: A natural amino acid derivative with antioxidant and anti-inflammatory properties, aiding in post-exercise recovery [6] - Rebaudioside M: A natural sweetener derived from stevia, approved as a food additive, suitable for various food and beverage applications [6][7] - Valencene: A food additive used to enhance citrus aroma in food products [7] Company Background - Baikaiseng (Jiangsu) Biotechnology Co., Ltd. is a subsidiary of Baikaiseng (Shanghai) Biotechnology Co., Ltd., established on March 15, 2024 [8] - The company focuses on the research and development of biomanufacturing technologies across pharmaceuticals, cosmetics, and food sectors [8]

证券简称： 润普食品 证券代码： 836422 江苏省连云港市灌南县经济开发区（西区） 江苏润普食品科技股份有限公司 江苏润普食品科技股份有限公司招股说明书（申报稿） 本公司的发行申请尚未经中国证监会注册。本招股说明书申报稿不具有据以发行股票的法律效 力，投资者应当以正式公告的招股说明书全文作为投资决定的依据。 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主要 服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高等特点，投资者面临较 大的市场风险。投资者应充分了解北京证券交易所市场的投资风险及本公司所披露的风险因素，审 慎作出投资决定。 保荐机构 （济南市市中区经七路 86 号） 1-1-1 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表明其对注册申 请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈利能力、 投资价值或者对投资者的收益作出实质性判断或者保证。任何与之相反的声明均属虚假不实 陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行人自行负 责；投资者自主判断发行人的投资价值，自主作出投 ...