Core Viewpoint - Changchun High-tech plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy, accelerate internationalization, and improve overseas financing capabilities [1] Group 1: Financial Performance - In 2024, Changchun High-tech reported a revenue of 13.466 billion yuan, a year-on-year decrease of 7.55% [1] - The net profit attributable to the parent company was 2.583 billion yuan, a significant decline of 43.01% year-on-year [1] - The pharmaceutical sector, which is the core business, generated a revenue of 12.666 billion yuan, accounting for 94.07% of total revenue [1] Group 2: Cost Analysis - R&D expenses increased to 2.690 billion yuan, up 11.20% year-on-year, with R&D costs specifically rising by 25.75% to 2.167 billion yuan due to accelerated new product development and talent acquisition [2] - Sales expenses reached 4.439 billion yuan, an increase of 11.81% year-on-year, aimed at enhancing sales team recruitment and compliance [2] - Management expenses rose to 1.202 billion yuan, a 25.59% increase year-on-year, attributed to adjustments in the management structure of its subsidiary, Jinsai Pharmaceutical [2] Group 3: Subsidiary Performance - Jinsai Pharmaceutical, a key subsidiary, achieved a revenue of 10.671 billion yuan in 2024, a decrease of 3.73% year-on-year, and a net profit of 2.678 billion yuan, down 40.67% year-on-year [2] - The decline in Jinsai Pharmaceutical's performance directly impacted Changchun High-tech's overall financial results [2] Group 4: Strategic Intent - The move to seek a listing in Hong Kong may also be a strategy to alleviate cash flow issues caused by the declining performance of Jinsai Pharmaceutical, aiming to secure new development opportunities through financing [3]

Group 1 - China State Construction won multiple major projects with a total amount of 21.53 billion yuan, accounting for 1.0% of the audited revenue for 2024 [1] - Zhongtai Chemical's subsidiary has fully launched a methanol upgrading demonstration project, which will further reduce production costs [1] - Wide Special Materials expects a net profit increase of approximately 367.51% year-on-year for the first half of 2025, driven by improved demand and internal optimization [1][2] Group 2 - Longdi Group plans to exercise its preferential subscription rights to participate in the convertible bond issuance of its associate company, Yongqi Electronics, with an investment of no more than 89.249 million yuan [3] - Dayou Energy's subsidiary Mengjin Coal Mine has resumed production after a 38-day suspension due to an accident, with an annual capacity of 1.2 million tons [5] - Shanying International plans to repurchase shares worth between 500 million and 1 billion yuan, with a maximum repurchase price of 2.50 yuan per share [7] Group 3 - Huatai Securities has been approved to issue up to 10 billion yuan in technology innovation bonds to support investment in the technology innovation sector [9] - Weixin Kang's cooperative product, an injectable multivitamin, has passed the consistency evaluation, enhancing its market potential [10] - Jinpu Titanium's controlling shareholder will have 35 million shares auctioned, accounting for 3.55% of the company's total share capital [11] Group 4 - China Pharmaceutical plans to waive its preferential purchase rights for a 24% stake in Chongqing Medical Health Industry Co., with a base transfer price of 2.206 billion yuan [12] - Beijia Clean plans to reduce its shareholding by 1.99% due to funding needs [13] - Anpelon has obtained a design patent for a brake sensor, enhancing its technological capabilities [14] Group 5 - Zhongyue Holdings' subsidiary has received approval for a clinical trial application for a new drug, indicating progress in its pharmaceutical development [14] - Lijun Group's YJH-012 injection has been approved for clinical trials, showcasing its potential in treating gout [16] - Yageer has sold financial assets totaling 4.176 billion yuan, representing 10.13% of its audited net assets for 2024 [15] Group 6 - Tailing Micro expects a net profit increase of approximately 267% year-on-year for the first half of 2025, driven by customer demand and product sales [19] - Baotai plans to invest 287 million yuan to acquire a 51% stake in Shaanxi Wanhao Titanium Technology Co., enhancing its production capabilities [21] - Laime Pharmaceutical has received a drug registration certificate for azithromycin granules, expanding its product portfolio [23] Group 7 - KQ Bio has received approval for a new veterinary vaccine, marking a significant advancement in its product offerings [25] - Robotech signed a contract worth approximately 17.1 million euros, representing over 12.82% of its audited revenue for 2024 [26] - Alloy Investment is planning a control change, leading to a temporary suspension of its stock [27] Group 8 - Huabang Health's subsidiary has received approval for two dermatological drugs, indicating growth in its pharmaceutical pipeline [28] - Lingxiao Pump Industry plans to invest 60 million yuan in wealth management products, optimizing its financial strategy [29] - Jinzhong Technology has won projects totaling 113 million yuan, accounting for 6.39% of its expected revenue for 2024 [31] Group 9 - Yifan Pharmaceutical's subsidiary has received approval for a clinical trial of a growth hormone injection, indicating progress in its research and development [32] - Guiguan Electric plans to invest 395 million yuan in a photovoltaic project, reflecting its commitment to renewable energy [33] - Rili Technology intends to repurchase shares worth between 10 million and 20 million yuan, supporting its stock performance [34] Group 10 - Xingye Securities' chairman has resigned, leading to a change in leadership [35] - Jinko Solar has achieved third-party certification for its high-efficiency solar cells, setting a new industry record [37] - Changan Automobile's controlling shareholder has changed its name, reflecting a rebranding effort [38]

Group 1 - The National Health Commission of China announced the recognition of outstanding regions, collectives, and individuals in the construction of safe hospitals for the 2022-2023 period, with 61 regions, 545 collectives, and 572 individuals being honored [1] Group 2 - Tencent's cognitive training software "Tencent Brain Exercise" has received approval from the Guangdong Provincial Drug Administration for clinical application, aimed at improving cognitive abilities in patients with mild cognitive impairment, which affects nearly 40 million people in China [3] Group 3 - Yifan Pharmaceutical announced that its subsidiary Yifan Shanghai received the clinical trial approval notice for a growth hormone injection, which is a biosimilar to Novo Nordisk's product, intended for treating growth hormone deficiency in children and adults [4] Group 4 - Guobang Pharmaceutical's subsidiary Zhejiang Guobang received GMP certification for its Tylosin raw material, which will facilitate the company's expansion into overseas markets [5] Group 5 - Yimai Sunshine announced plans to acquire 70% of Gaomai Health for a total consideration of 54 million yuan, which will integrate Gaomai's financial performance into Yimai Sunshine's financial statements [7] Group 6 - Baize Medical listed on the Hong Kong Stock Exchange with an issue price of 4.22 HKD per share, raising a net amount of 468 million HKD, and operates eight hospitals across various regions in China [8] Group 7 - Yaojie Ankang listed on the Hong Kong Stock Exchange at a final offer price of 13.15 HKD per share, raising a net amount of 161.34 million HKD, focusing on developing innovative therapies for tumors and other diseases [10] Group 8 - Baiyoutai signed a licensing and commercialization agreement with SteinCares for BAT2406 in Brazil and Latin America, with a potential total transaction value of up to 10 million USD [12] Group 9 - Heptagon Pharmaceuticals entered a global strategic collaboration with Otsuka Pharmaceutical for the development of a BCMA/CD3 bispecific T cell engager, with potential payments totaling up to 623 million USD [13] Group 10 - Illumina announced an agreement to acquire SomaLogic for 350 million USD in cash, plus performance milestone payments, to integrate protein detection technology into its NGS platform [14] Group 11 - Jingtai Technology signed a pipeline licensing intention with DoveTree, with initial payments of 51 million and 49 million USD, and potential payments reaching several billion USD based on product sales [15]

思宇年度活动回顾： 首届全球眼科大会 | 首届全球骨科大会 | 首届全球心血管大会 即将召开： 君合盟生物制药（杭州）有限公司 （以下简称"君合盟"）成立于2020年11月，总部位于浙江省杭州市钱塘 区和享科技中心。公司是一家专注于 重组蛋白创新药物及合成生物学领域创新产品开发 的生物科技公司，致 力于推进创新重组蛋白药物在内分泌、神经治疗、皮肤抗衰和新一代生物医用材料等方面的应用。公司由 冷 春生博士 创立，其凭借多年的重组蛋白药物研发及产业化经验，形成了覆盖产品开发全流程的核心技术、平 台及人才积淀。 君合盟的核心业务聚焦于严肃医疗和消费医疗双赛道，产品管线包括 重组I型人胶原蛋白、重组III型人胶原蛋 白、重组A型肉毒毒素、重组人生长激素和长效生长激素 等。公司拥有多个国内外首创的重组蛋白表达及分离 纯化平台，技术水平及产业化进展处于国内领先。其 重组I/III型人胶原蛋白产品 与天然人胶原蛋白结构高度 一致，已实现规模化放大，商业化规模生产车间已建成投产。 融资历程 欢迎企业积极参与思宇组织的大会↓ 2025年6月12日，首届全球医美科技大会 2025年6月12日，首届全球医美科技大会 2025年7月 ...

公司重组肉毒素在严肃医学领域的探索有望与石药国方产生更强的协同效应。 本文为IPO早知道原创 作者｜C叔 微信公众号｜ipozaozhidao 据 IPO早知道消息， 近日 ，君合盟生物制药（杭州）有限公司（ 下称 "君合盟" ）完成数千万元 战略融资，由石药国方基金独家投资，凯乘资本连续担任独家财务顾问。 本轮融资将用于推进公司 在研产品管线开发，深化在严肃医疗及消费医疗领域的技术布局，加快公司产品管线临床进展、申报 进程及市场推广。 君合盟成立于 2020年11月，是一家专注于重组蛋白创新药物及合成生物学领域创新产品开发的生 物科技公司， 基于 多年的重组蛋白药物研发及产业化经验，实现了覆盖产品开发全流程的核心技 术、平台及人才的积淀，形成了一套完整的技术及产品开发体系。 公司的研发管线 布局围绕严肃医疗、消费医疗、代谢等拥有广阔市场的前沿蛋白药物领域 ，已实现 包括重组 I/III型人胶原蛋白原液及制剂、重组A型肉毒毒素等在内的高端重组蛋白产品的规模化放 大，技术水平及产业化进展处于国际领先水平。其中， 核心产品重组人生长激素注射液已完成 III期 临床；重组A型肉毒毒素已于近日完成成人中重度眉间纹适应 ...

Core Insights - The company Junhe Alliance has completed a strategic financing round of several tens of millions, exclusively funded by Shiyao Guofang Pioneer Fund [2] - The financing will be used to advance the development of the company's product pipeline, deepen its technological layout in serious medical and consumer healthcare fields, and accelerate clinical progress, application processes, and market promotion [3] Company Overview - Junhe Alliance Biopharmaceuticals (Hangzhou) Co., Ltd. was established in November 2020, focusing on the development of innovative recombinant protein drugs and synthetic biology products [3] - The company has accumulated core technologies, platforms, and talent covering the entire product development process, forming a complete technical and product development system [3] Product Pipeline - The research and development pipeline is centered around serious medical, consumer healthcare, and metabolic fields, which have vast market potential [3] - The company has achieved large-scale production of high-end recombinant protein products, including recombinant type I/III human collagen solutions and formulations, as well as recombinant type A botulinum toxin [3] - The core product, recombinant human growth hormone injection, has completed Phase III clinical trials; the recombinant type A botulinum toxin has recently completed the first dosing of Phase III clinical trials for moderate to severe glabellar lines and is nearing the end of Phase II clinical trials for post-stroke upper limb spasticity [3] Future Outlook - The CEO of Junhe Alliance, Xu Kui, emphasized the company's focus on unmet clinical needs in serious medical and consumer healthcare since its inception, with independent research and development as the core driving force [4] - The company aims to continue deepening innovative technological breakthroughs and accelerate the development and market application of its product pipeline, striving to become a leader in the recombinant protein drug field [4]

将投中网设为"星标⭐"，第一时间收获最新推送 长高，仍是一门好生意。 作者丨 胡香赟 编辑丨 海若镜 来源丨 36氪Pro 我想"再高一点" 春日，宜万物生长，包括人类幼崽的身高。 在讲究科学的时代，孩子的身高理所应当地也应遵循某种可量化的生长公式。 一个颇受大众认可的方法是，根据父母身高来预测孩子未来的身高区间。比如，男孩子的身高区间= （父亲身高+母亲身高+13厘米）÷2±7.5厘米。 公式前半部分就是所谓的"遗传靶身高"，即由遗传决定的无法改变的身高基数。而后半部分的"±7.5 厘米"，则是可以通过后天努力改变的部分——只需要"充分发挥孩子的生长潜能"。 梁宇在一家药企从事研发工作，出于职业敏感，女儿萱萱还在上幼儿园时，就开始关注她的身高问 题。她坦言自己和先生都不算高，对孩子未来的身高"没有过大期待，她个子不高，这点从小就能看 出来"。 尽管如此，萱萱上大班后，梁宇还是开始给她报了跳绳兴趣班。运动、光照、补充维生素D，最初梁 宇选择的是最朴素的科学"长个儿"方法。 几年后，萱萱在跳绳比赛里拿了奖，但身高年增长一直保持在5厘米左右。按照一般值，许多小朋友 能达到7、8厘米。原本，梁宇已经接受了这个结果， ...

以下文章来源于睿兽Pro ，作者Bestla 睿兽Pro . 创业邦旗下横跨一二级市场的科创数据平台。实时投资数据、追踪产业创新。找数据、做分析、链资 源，就上睿兽分析。 整体概述 根据睿兽分析的统计数据， 2025 年 Q1 中国企业 IPO 数量共 64 家。 202 5 年 Q1 中国企业 IPO 数量较 2024 年 Q1 增加 18.52% ；环比 2024 年 Q4 则减少近 17.95% 。相比整体上市数量的 减少，赴美上市企业的数量相对稳定，占 2025 年 Q1 上市企业的 34.38% 。 在上市目的地方面， 202 5 年 Q1 成功上市的 64 家中国企业，其中 A 股市场有 27 家企业完成 IPO ，港股市场有 15 家企业，美股市场有 22 家企业。从募资金额来看， A 股市场的 IPO 募资总 额为 162.76 亿元人民币，港股市场为 159.80 亿元人民币，美股市场则为 20.26 亿元人民币。 生活服务在上市数量上占比较大，为 4 家，但是就募资金额的规模看相对较小，为 2.69 亿元人民 币；消费行业因冰淇淋茶饮连锁品牌蜜雪冰城 (HK:02097) 港股上市，募资额 ...

以下文章来源于36氪Pro ，作者胡香赟 海若镜 36氪Pro . 文 ｜ 胡香赟 编辑 ｜ 海若镜 来源｜ 36氪Pro（ID：krkrpro） 封面来源 ｜ Pexels 我想"再高一点" 春日，宜万物生长，包括人类幼崽的身高。 在讲究科学的时代，孩子的身高理所应当地也应遵循某种可量化的生长公式。 一个颇受大众认可的方法是，根据父母身高来预测孩子未来的身高区间。比如，男孩子的身高区间=（父亲身高+母亲身高+13厘米）÷2±7.5厘米。 公式前半部分就是所谓的"遗传靶身高"，即由遗传决定的无法改变的身高基数。而后半部分的"±7.5厘米"，则是可以通过后天努力改变的部分——只需 要"充分发挥孩子的生长潜能"。 梁宇在一家药企从事研发工作，出于职业敏感，女儿萱萱还在上幼儿园时，就开始关注她的身高问题。她坦言自己和先生都不算高，对孩子未来的身 高"没有过大期待，她个子不高，这点从小就能看出来"。 尽管如此，萱萱上大班后，梁宇还是开始给她报了跳绳兴趣班。运动、光照、补充维生素D，最初梁宇选择的是最朴素的科学"长个儿"方法。 36氪旗下官方账号。深度、前瞻，为1%的人捕捉商业先机。 如果可以，谁都希望自己的孩子 是人 ...

作 者丨李佳英 编 辑丨季媛媛，江佩佩 图 源丨2 1世纪经济报道 在短视频平台，"长高" "追高"类内容播放超亿次；交流群中，家长积极参与半价购买生长激素的讨论。近期，拳坛奥运冠军邹市明之妻冉莹颖 公开分享，其子已开始接受生长激素治疗，而记录这一过程的"追高日记"视频，点击量已突破6 0 0 0万大关。 社交媒体上不少讨论生长激素的帖子 据公开报道，拳王邹市明11岁儿子身高只有1 3 6厘米，妻子冉莹颖决定给孩子打生长针 无数家庭因孩子的身高问题而陷入焦虑，甚至不惜花费巨资，追求"增高"。据临床医生观察，专病门诊中大部分求诊儿童其实并未达到需要生 长激素治疗的程度。然而，家长的焦虑情绪却如同滚雪球般越滚越大，有的希望孩子在未来择业、求偶中占据优势，有的则担心遗传影响，早 早规划。 北京大学第一医院内分泌科副主任医师袁晓勇也曾坦言， 面对家长的焦虑情绪，"劝导"已成为他们工作的重要组成部分。 目前市面上常见的重组人生长激素有短效粉剂、短效水剂和长效水剂三种。几种激素的作用原理和天然生长激素一样，短效剂需每日注射，长 效剂每周注射一次。患者体重越大，所需单次注射剂量相应增加，从而导致治疗成本上升。此外，水剂相较 ...