12月8日至12月14日期间，百奥赛图(北京)医药科技股份有限公司挂牌上市。 | 上市日期 上市企业 | 所属板块 股票代码 | | --- | --- | | 12 月 10 日 百奥赛图(北京)医药科技股份有限公司 | 科创板 688796 | 百奥赛图(北京)医药科技股份有限公司(股票简称：百奥赛图;股票代码：688796)是一家创新技术驱动新 药研发的国际性生物技术公司,致力于成为全球新药发源地。基于底层基因编辑技术,百奥赛图自主研发 了RenMice(RenMab、RenLite、RenNano、RenTCR mimic)平台,用于全人治疗性单克隆抗体、双/多特异 性抗体、双抗ADC、纳米抗体和类TCR抗体的发现。百奥赛图正在对1000多个潜在可成药的靶点进行 规模化药物开发("千鼠万抗TM"计划),并已建立起超100万条全人抗体序列库,用于全球合作。 中国上市公司网/文 2025年12月8日-2025年12月14日期间IPO动态各个阶段速览： 一、IPO排队企业情况 截至12月14日，IPO排队企业266家，其中沪主板排队企业18家，科创板排队企业36家，深主板排队企 业20家，创业板排队企业28 ...

Core Viewpoint - Gongdong Medical is a leading manufacturer of disposable medical consumables in China, with advanced production technology and strict quality control systems [1] Group 1: Business Overview - Gongdong Medical was established on August 17, 2009, and was listed on the Shanghai Stock Exchange on September 16, 2020 [1] - The company focuses on the research, production, and sales of disposable medical consumables, categorized under the pharmaceutical and biological industry, specifically in medical devices and consumables [1] Group 2: Financial Performance - For Q3 2025, Gongdong Medical reported revenue of 845 million, ranking 23rd among 50 companies in the industry [2] - The industry leader, Yingke Medical, reported revenue of 7.425 billion, while the second, Guoke Hengtai, reported 5.353 billion; the industry average revenue was 1.379 billion, and the median was 755 million [2] - The company's net profit for the same period was 71.89 million, ranking 29th in the industry [2] - The top net profit earners were Lepu Medical at 999.6 million and Yingke Medical at 952 million, with the industry average at 183 million and the median at 75.88 million [2] Group 3: Financial Ratios - As of Q3 2025, Gongdong Medical's debt-to-asset ratio was 18.49%, an increase from 15.66% year-on-year, which is lower than the industry average of 23.66%, indicating good solvency [3] - The company's gross profit margin for Q3 2025 was 30.13%, down from 33.35% year-on-year, and below the industry average of 48.78%, suggesting a need for improvement in profitability [3] Group 4: Executive Compensation - The chairman, Shi Huiyong, received a salary of 749,000 for 2024, an increase of 68,600 from 2023 [4] - The general manager, Zhong Weifeng, earned 646,900 in 2024, up by 62,300 from the previous year [4] Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders for Gongdong Medical increased by 17.57% to 11,600 [5] - The average number of circulating A-shares held per shareholder decreased by 14.94% to 19,000 [5]

Core Viewpoint - The stock of Gongdong Medical has experienced a decline in price and trading volume, with a current market capitalization of 4.187 billion yuan, reflecting a challenging market environment for the company [1]. Company Overview - Gongdong Medical, established on August 17, 2009, and listed on September 16, 2020, is located in Taizhou, Zhejiang Province. The company specializes in the research, production, and sales of disposable medical consumables [1]. - The revenue composition of Gongdong Medical includes: medical testing (39.95%), blood collection (27.43%), collection (11.18%), medical care (9.17%), others (4.94%), pharmaceutical packaging (3.73%), and commercial (3.60%) [1]. Financial Performance - For the first half of 2025, Gongdong Medical reported a revenue of 557 million yuan, representing a year-on-year growth of 0.58%. However, the net profit attributable to shareholders decreased by 47.16% to 50.349 million yuan [2]. - Since its A-share listing, Gongdong Medical has distributed a total of 533 million yuan in dividends, with 234 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Gongdong Medical increased to 9,870, up by 10.79% from the previous period. The average number of circulating shares per person rose by 26.30% to 22,339 shares [2]. - Notably, Industrial and Commercial Bank of China Medical Health Stock (000831) has exited the list of the top ten circulating shareholders [3].

Summary of Key Points Core Viewpoint The Beijing Stock Exchange (BSE) has seen a slight decrease in trading volume and value over the past week, while new IPO activities are ongoing with several companies in various stages of the listing process. Trading Activity - As of October 26, 2025, there are 279 companies listed on the BSE with a total share capital of 38.877 billion shares and a circulating share capital of 24.854 billion shares [2] - For the week of October 20-26, the trading volume was 3.932 billion shares, a decrease of 0.71% compared to the previous week, while the trading value was 90.162 billion yuan, down 2.64% [3] - The average trading price was 22.93 yuan, reflecting a decrease of 1.95% [3] - The BSE 50 Index rose by 2.74% to 1472.08 points, with 43 stocks increasing, 1 remaining flat, and 6 declining [3] New IPO Activities - During the week of October 20-26, one company applied for IPO, one company passed the listing committee meeting, and two companies had their applications accepted, with no new listings or registrations approved [6] - As of October 26, 2025, there are 85 companies awaiting review, including 4 that have been accepted, 74 under inquiry, 2 that passed the listing committee, and 5 that have submitted registration [6] Company-Specific Developments - **Danna (Tianjin) Biotechnology Co., Ltd.**: Plans to raise 137 million yuan for headquarters construction and new product development. The company reported revenues of 295 million yuan in 2022, 237 million yuan in 2023, and 240 million yuan in 2024, with net profits of 44.62 million yuan, 77.60 million yuan, and 87.19 million yuan respectively [10][11] - **Aisheren Medical Technology Group Co., Ltd.**: Passed the listing committee meeting and aims to raise 300 million yuan for a public health medical supplies industrial park. The company reported revenues of 574 million yuan in 2022, 575 million yuan in 2023, and 692 million yuan in 2024, with net profits of 62.80 million yuan, 66.94 million yuan, and 80.61 million yuan respectively [17][20] - **Dingxi High-Strength Fasteners Co., Ltd.**: Received acceptance for its IPO application, aiming to raise 385 million yuan for high-end industrial component manufacturing projects. The company reported revenues of 447 million yuan in 2022, 592 million yuan in 2023, and 799 million yuan in 2024, with net profits of 47.64 million yuan, 49.02 million yuan, and 61.03 million yuan respectively [23][24] - **Hongyi Automotive Technology Co., Ltd.**: Also received acceptance for its IPO application, planning to raise 818 million yuan for various projects including an intelligent factory for automotive parts. The company reported revenues of 1.308 billion yuan in 2022, 1.792 billion yuan in 2023, and 2.888 billion yuan in 2024, with net profits of 70.92 million yuan, 129 million yuan, and 243 million yuan respectively [25][28] Other Developments - **Guangdong Lingguang New Materials Co., Ltd.**: Terminated its IPO counseling process due to various strategic considerations [35][37]

Core Insights - The IPO market is experiencing significant activity, particularly in the Hong Kong stock market with notable companies going public [2] Recent IPO Approvals - Muxi Integrated Circuit (Shanghai) Co., Ltd. plans to issue up to 40.1 million A-shares, aiming to raise 3.904 billion yuan for GPU development projects [3] - The company has not yet turned a profit, with projected net losses of 1.409 billion yuan for 2024 [3] - The number of companies scheduled for IPOs this year has reached 67, surpassing the total from the previous year [2] Financial Performance of Recent IPOs - Muxi's revenue from 2022 to 2025 is projected to grow from 426,400 yuan to 743 million yuan, with cumulative losses exceeding 3.2 billion yuan [3] - Inner Mongolia Shuangxin Environmental Materials Co., Ltd. reported revenues of 5.061 billion yuan in 2022, with a net profit of 803 million yuan [4] - Jiangsu Aisheren Medical Technology Group Co., Ltd. achieved revenues of 574 million yuan in 2022, with a net profit of 58.18 million yuan [5] New Listings - Marco Polo Holdings Co., Ltd. listed on the Shenzhen Stock Exchange with a first-day stock price increase of 128.8%, reaching a market capitalization of 37.6 billion yuan [7] - Ju Shui Tan, an e-commerce SaaS ERP provider, debuted on the Hong Kong Stock Exchange with a 24% stock price increase, achieving a market cap of over 16 billion HKD [8] - Hai Xi New Drug successfully listed on the Hong Kong Stock Exchange, raising approximately 994 million HKD [9] Recent Filings for IPO - Shenzhen Jincun Technology Co., Ltd. has filed for an IPO on the Hong Kong Stock Exchange, reporting revenues of 2.096 billion yuan in 2022 [10] - Sichuan Xin He Hua Traditional Chinese Medicine Co., Ltd. has reinitiated its IPO process, with revenues growing from 780 million yuan in 2022 to 1.249 billion yuan in 2024 [11] - Bin Hua Co., Ltd. has submitted an application for an IPO, reporting revenues of 8.892 billion yuan in 2022 [12]

Group 1 - The Beijing Stock Exchange's listing committee approved Jiangsu Aisheren Medical Technology Group Co., Ltd. for IPO, marking the 64th company approved this year [1] - Aisheren specializes in the research, production, and sales of disposable medical consumables for rehabilitation and medical protection, primarily through ODM/OEM for international brands [1] - The company plans to issue up to 16,919,834 shares, with a potential 15% over-allotment option, aiming to raise 30 million yuan for the construction of a public health medical supplies industrial park [2] Group 2 - The main underwriter for Aisheren's IPO is Dongwu Securities, which has successfully sponsored two IPO projects this year [1] - Aisheren's largest shareholder, Jiangsu Novick, holds 79.58% of the company's shares, with Zhang Yong controlling a total of 88.69% [1] - The review meeting raised inquiries regarding the stability of sales with the primary customer, Medline Group, and the impact of foreign trade policies and exchange rate fluctuations on the company's performance [3][4] Group 3 - The review committee requested further clarification on the authenticity and sustainability of sales with Medline Group, as well as the rationale behind the increased procurement from foreign suppliers [4] - The committee also inquired about the technological innovation and competitive advantages of Aisheren's core products, including the existence of technological barriers [4] - Concerns were raised regarding the investment efficiency of the fundraising projects and the company's plans for capacity utilization post-project completion [4]

Core Viewpoint - The Beijing Stock Exchange's listing committee has approved Jiangsu Aisheren Medical Technology Group Co., Ltd. for listing, but has raised concerns regarding customer stability, foreign trade policy changes, and exchange rate fluctuations impacting the company's performance [1] Group 1: Company Performance - Aisheren specializes in the research, production, and sales of disposable medical consumables for rehabilitation and medical protection, planning to raise 300 million yuan for a public health medical supplies industrial park project [2] - The company has shown stable revenue growth, with sales revenue of 574 million yuan, 575 million yuan, 692 million yuan, and 438 million yuan for the years 2022, 2023, 2024, and the first half of this year, respectively [2] - The net profit attributable to shareholders for the same periods was 63 million yuan, 67 million yuan, 81 million yuan, and 50 million yuan [2] - For the first three quarters of this year, the company expects revenue between 658 million yuan and 673 million yuan, representing a year-on-year growth of approximately 36% to 39% [2] Group 2: Customer Concentration and Risks - From 2022 to the first half of this year, sales to the top five customers amounted to approximately 470 million yuan, 496 million yuan, 597 million yuan, and 387 million yuan, accounting for 81.99%, 86.27%, 86.27%, and 88.40% of total sales, indicating increasing customer concentration [3] - The high proportion of overseas sales revenue, which accounted for 90.99%, 94.25%, 94.71%, and 96.54% of total revenue during the same period, raises concerns about the impact of trade policies and customer relationships on the company's performance [3] Group 3: Research and Development Concerns - The company's R&D expenses from 2022 to the first half of this year were 3.66 million yuan, 4.91 million yuan, 7.86 million yuan, and 5.11 million yuan, with R&D expense ratios of 0.64%, 0.85%, 1.14%, and 1.17%, significantly lower than the industry average of around 3% [5] - As of June 2025, the company had only 11 R&D personnel, representing 0.57% of the total workforce, compared to over 150 in comparable companies [6] - Aisheren holds 46 utility model patents, 10 design patents, and 20 invention patents, with 18 of the invention patents obtained after September 2024, raising questions about the company's innovation capabilities [6]

IPO Review and Registration Progress - Three companies successfully passed the IPO review last week, including Youxun Co., Ltd., Angrui Microelectronics, and Tian Su Measurement [2][3] - Youxun Co., Ltd. focuses on the research, design, and sales of optical communication front-end transceiver chips, aiming to raise 809 million yuan for the development of next-generation data center chips and automotive chips [2] - Angrui Microelectronics specializes in RF front-end chips and plans to raise 2.067 billion yuan for 5G RF chip development and industrial upgrades [3] - Tian Su Measurement provides calibration and testing services, achieving a revenue of 409 million yuan in the first half of 2025, with a year-on-year growth of 11.99% [3] Upcoming IPOs - Four companies are scheduled for IPO reviews this week, including Jianxin Superconductor, Shuangxin Environmental Protection, Aishalun, and Muxi Co., Ltd. [4] - Jianxin Superconductor focuses on MRI equipment components, with revenues projected to decline by 5.58% in 2024 due to market pressures [4][5] - Shuangxin Environmental Protection has seen revenue declines of 25.25% and 7.85% in 2023 and 2024, respectively, due to reduced market demand [5] - Aishalun generates over 90% of its revenue from overseas, with projected revenues of 692 million yuan in 2024 [5] New Stock Listings - Two new stocks were listed last week: Changjiang Nengke and Daoshengtianhe, with the latter seeing a first-day increase of 396.32% [10][11] - Changjiang Nengke specializes in energy chemical equipment, while Daoshengtianhe is a leading supplier of materials for wind turbine blades [10][11] New Stock Subscription - Daming Electronics is set to launch a new stock subscription on October 24, aiming to raise approximately 400 million yuan for new factory projects and working capital [12] - The company focuses on automotive electronic components, with projected revenues of 2.727 billion yuan in 2024 [12]

Core Insights - Four companies are set to present their IPO applications, with a focus on various sectors including environmental protection, medical imaging, and artificial intelligence [1] Group 1: Upcoming IPOs - Double Xin Environmental Protection plans to list on the Shenzhen Main Board, aiming to raise 1.865 billion yuan for projects related to PVB resin and functional films, among others [1][2] - Two companies, Jianxin Superconductor and Muxi Co., are targeting the Sci-Tech Innovation Board (STAR Market) with proposed fundraising amounts of 775 million yuan each [1][3] - Aishalen is preparing for an IPO on the Beijing Stock Exchange, with a target of raising 300 million yuan [1][4] Group 2: Company Profiles - Double Xin Environmental Protection specializes in the research, production, and sales of PVA and related products, boasting a full industry chain layout [2] - Jianxin Superconductor focuses on the development and production of core components for medical MRI equipment [3] - Muxi Co. is engaged in the research, design, and sales of full-stack GPU products for AI training and general computing [3] - Aishalen is dedicated to the medical health sector, producing disposable medical supplies for rehabilitation and protection [4]

IPO and Financing Overview - Four companies are scheduled for IPO review next week (October 20-24), aiming to raise a total of 6.844 billion yuan [1] - Two companies are set for refinancing, with a total planned fundraising of 1.3 billion yuan [5] Company Summaries 1. Jianxin Superconducting Technology Co., Ltd. - The company plans to reduce its fundraising target from 865 million yuan to 775 million yuan, removing the supplementary working capital project [2] - Jianxin focuses on the R&D, production, and sales of core components for MRI equipment, including superconducting magnets, which account for approximately 50% of the cost of MRI equipment [7] - The company has been a pioneer in the mass production of high-field superconducting magnets in China, breaking the long-standing monopoly of foreign manufacturers since 2015 [7] 2. Muxi Integrated Circuit (Shanghai) Co., Ltd. - Muxi specializes in the R&D, design, and sales of high-performance GPU chips and computing platforms, targeting AI training and inference applications [10] - The company has established itself as one of the few in China with comprehensive capabilities in high-performance GPU chip development [10] 3. Shuangxin Environmental Protection Materials Co., Ltd. - Shuangxin is engaged in the R&D, production, and sales of products along the PVA (polyvinyl alcohol) industry chain, including PVA and its specialty fibers [15] - The company has a complete PVA industry chain layout and is controlled by Inner Mongolia Shuangxin Energy Chemical Co., Ltd. [15] 4. Aishalen Medical Technology Group Co., Ltd. - Aishalen focuses on the R&D, production, and sales of disposable medical consumables for rehabilitation and medical protection [19] - The company provides a range of medical dressing products, including medical care pads and surgical gowns [19] Financial Performance Jianxin Superconducting - Total assets as of June 30, 2025, were 688.99 million yuan, with a net profit of 31.92 million yuan for the first half of 2025 [9] - The company has maintained a steady increase in revenue, with a net profit margin of 6.64% [9] Muxi Integrated Circuit - As of March 31, 2025, total assets were approximately 1.046 billion yuan, but the company reported a net loss of 232.51 million yuan for the first quarter of 2025 [12] Shuangxin Environmental Protection - For the first half of 2025, total assets were 623.58 million yuan, with a net profit of 281.08 million yuan [17] - The company has shown a consistent revenue stream, with a net profit margin of 5.95% [17] Aishalen Medical Technology - As of June 30, 2025, total assets were approximately 1.201 billion yuan, with a net profit of 49.43 million yuan [21] - The company has demonstrated a stable growth trajectory, with a net profit margin of 6.61% [21]