一杯平均售价20元的咖啡，背后是跨越半个地球的精密商业网络。在海南省澄迈县大丰镇才存社区内， 咖啡豆历经近2万公里迁徙、8道工序淬炼，从非洲肯尼亚蒙巴萨港来到澄迈，让消费者感受到与众不同 的咖啡风味。 近年来，澄迈加速推进农业产业链式发展，培育"从一颗咖啡生豆到一杯咖啡"的全产业链，打响"澄接 世界迈向未来"城市品牌，推动普通咖啡向精品咖啡转型升级，探索咖旅融合新玩法，用一杯咖啡，酿 出"文化澄迈"的醇厚滋味。 目前，澄迈县已有10家企业获批成为加工增值内销免关税政策的试点企业，其中咖啡企业占据4席。"下 一步，我们将充分发挥海南自由贸易港政策优势，鼓励咖啡企业扩大产能，逐步发展冻干粉、咖啡液、 胶囊咖啡以及咖啡衍生饮品等精深加工产品，致力于打造一个具备全豆种、全品类精深加工能力的咖啡 加工中心。"澄迈县科学技术和工业信息化局有关负责人表示。 全产业链工作初见成效 在海南澄迈的火山红壤上，一股醇厚的咖啡香气正勾勒出产业链式发展的新图景。985高校毕业生林少 华，放弃城市优渥条件，带着现代产业思维扎根乡土，以澄迈咖啡为"指挥棒"，打造出三产融合的咖啡 庄园。如今，福山咖咖园共享农庄，从一片荒地蜕变为省级共享农庄 ...

Core Viewpoint - Jingze Biopharma has submitted an application for listing on the Hong Kong Stock Exchange, focusing on assisted reproductive and ophthalmic drugs, with eight candidate drugs in its pipeline [1][3]. Group 1: Company Overview - Jingze Biopharma aims to commercialize its first product, JZB30, a recombinant human follicle-stimulating hormone (FSH) lyophilized powder injection, expected to generate revenue by 2026 [1][3]. - The company has previously attempted to list on the Shanghai Stock Exchange's Sci-Tech Innovation Board but faced delays in completing the necessary guidance [1][3]. Group 2: Product Pipeline and Market Competition - All of Jingze Biopharma's late-stage products are generic drugs, with JZB30 competing against established products like Follitropin [4][6]. - The domestic market for recombinant human FSH is dominated by companies like Merck and Jinsai Pharmaceutical, which have significant market shares [6][9]. - The market for injectable recombinant human FSH has shown limited growth, with sales fluctuating between 1.12 billion and 2.02 billion from 2015 to 2023 [6][9]. Group 3: Financial Situation - Jingze Biopharma has been operating at a loss, with projected losses of approximately 246 million and 243 million for 2023 and 2024, respectively [9][10]. - The company has raised about 930 million through six rounds of financing, with a significant portion raised during the C+ round [9][10]. - As of the end of 2024, the company's cash reserves were critically low, with only 68.6 million and 27.08 million remaining [10].

Core Viewpoint - The article highlights the efforts of Huanren County in Liaoning Province to leverage its rich historical and ecological resources for rural revitalization, focusing on the development of tourism and the cultivation of medicinal herbs like ginseng [1][2][3]. Group 1: Historical and Cultural Resources - Huanren County has a significant historical background related to the Northeast Anti-Japanese Volunteer Army, with key sites being preserved and opened to the public, such as the Northeast Anti-Japanese Volunteer Army Memorial Museum [1]. - The county has actively excavated and protected important anti-war sites, enhancing cultural tourism [1]. Group 2: Economic Development through Tourism - The Fenglin Valley scenic area has developed over 50 tourist attractions, with a daily capacity of 35,000 visitors, contributing to local economic growth [1]. - Local businesses, such as those run by farmers in Xiangyang Township, have seen substantial income increases, with some earning over 300,000 yuan annually during peak tourist seasons [2]. Group 3: Agricultural and Ecological Initiatives - Huanren County has implemented policies since 2002 to support the cultivation of under-forest ginseng, with a protected area of 650,000 acres, increasing its market share nationally [2]. - The county's forest coverage rate has reached 78.94%, with significant cultivation of medicinal herbs and other crops, positioning Huanren as a major producer of ice wine in China [2].

6月27日，景泽生物医药（合肥）股份有限公司（简称"景泽生物"）向港交所递交上市申请。 作为生物制药公司，景泽生物布局辅助生殖药物和眼科药物赛道，共拥有八个候选药物。由于尚未有产 品上市销售，2023年、2024年，公司连续两年出现净亏损。 其首款核心产品已获批并即将推进商业化，预计将于2026年产生收入。然而，激烈的市场竞争为其核心 产品的商业化前景增添了不确定性。 拥有8个候选药物 首款产品商业化在即 截至目前，景泽生物拥有八款候选药物，其中三款处于后期研发阶段，一款已获批上市，一款已提交新 药上市申请（NDA），另一款正处于III期临床试验阶段。其中，重组人促卵泡激素(rhFSH)冻干粉针剂 型产品JZB30、抗VEGF（血管内皮生长因子）眼内注射液JZB05为公司的核心产品。 公司即将推进商业化的产品为核心产品JZB30，该产品的NDA已于2025年4月获得国家药监局批准。 作为公司眼科领域首个预期商业化产品，另一款核心产品JZB05主要用于治疗湿性年龄相关性黄斑变性 （wAMD）、糖尿病黄斑水肿（DME）等眼底新生血管性疾病。该产品是对标全球销售额最高眼科药 物、抗VEGF药物阿柏西普的全球生物类似 ...

在辅助生殖治疗领域，景泽生物核心产品JZB30（重组人促卵泡激素冻干粉针剂）于2025年4月获国家 药监局批准商业化，这是该公司首个获批产品，对标全球促排卵市场占有率领先的进口药果纳芬水针剂 型开发。此外，景泽生物还在开发JZB30治疗低促性腺激素性性腺功能减退症的适应症。 景泽生物医药（合肥）股份有限公司（以下简称"景泽生物"）近日正式向港交所递交招股说明书，拟主 板挂牌上市，中金公司和国元国际担任联席保荐人。不过，这家专注于辅助生殖与眼科药物赛道的生物 制药公司，正面临着"单药获批、多管线押注"的研发现状与"巨额亏损叠加资金告急"的上市困境。 仅一款产品获批 景泽生物成立于2014年，是一家专注于辅助生殖药物和眼科药物两大赛道的生物制药公司。根据弗若斯 特沙利文的资料，截至2025年6月20日，景泽生物是中国企业中辅助生殖和眼科领域获得最多处于临床 阶段大分子药物的公司之一。 招股书显示，研发管线方面，景泽生物目前有8个候选药物，仅一款辅助生殖治疗领域的产品获批。 根据弗若斯特沙利文的资料，国内绝大部分具有辅助生殖需求的患者会在当地的生殖中心就诊。因此， 建立覆盖生殖中心的广泛销售网络十分关键。招股书显示 ...

Core Viewpoint - Jingze Biopharmaceutical (Hefei) Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC and Guoyuan International as joint sponsors [1] Company Overview - Jingze Biopharmaceutical focuses on high-growth sectors of assisted reproductive drugs and ophthalmic drugs, establishing a comprehensive R&D system and commercial-scale production capabilities [4] - The company has developed multiple product pipelines and advanced several high-tech barrier drugs to late clinical and commercialization stages [4] - As of June 20, 2025, Jingze is one of the leading companies in China for clinical-stage macromolecular drugs in the fields of assisted reproduction and ophthalmology [4] Product Pipeline - The company has a rich product pipeline with eight candidate drugs, three of which are in late-stage development, including one that has received NDA approval and another that has submitted NDA [5] - JZB30, the first commercialized product in assisted reproduction, is a recombinant human follicle-stimulating hormone (rhFSH) lyophilized powder injection, targeting the global ovulation induction market [5][6] - JZB05, an anti-VEGF intravitreal injection, is expected to be the first commercialized product in the ophthalmic field, with ongoing Phase III clinical trials [6] Financial Overview - Research and development expenses for 2023 and 2024 are approximately RMB 122.2 million and RMB 133.3 million, respectively [6] - The total loss for the years 2023 and 2024 is approximately RMB 246.2 million and RMB 242.7 million, respectively [7] - Other income and gains for 2023 and 2024 are RMB 9.8 million and RMB 12.4 million, respectively [7]

Core Viewpoint - Jingze Biopharma is pursuing an IPO on the Hong Kong Stock Exchange, focusing on high-growth areas of assisted reproduction and ophthalmic drugs, despite facing significant financial challenges and uncertainties in its development pipeline [1][3]. Company Overview - Jingze Biopharma specializes in assisted reproduction and ophthalmic drugs, with a notable presence in clinical-stage large molecule drugs in China as of June 20, 2025 [3]. - The company’s core product, JZB30 (recombinant human follicle-stimulating hormone lyophilized powder injection), received commercialization approval in April 2025, targeting the leading imported drug in the global ovulation market [3]. - Another key product, JZB33 (recombinant human follicle-stimulating hormone aqueous injection), has completed bioequivalence trials and submitted a New Drug Application (NDA) as of June 2025 [3]. Product Pipeline - Jingze Biopharma has a total of eight drug candidates, with JZB30 approved and JZB33 submitted for NDA. JZB05 (anti-VEGF intravitreal injection) is undergoing Phase III clinical trials across over 40 centers in China, aiming for submission in the second half of 2026 [4]. - The company is also developing JZB32 for symptomatic vitreomacular adhesion, currently in Phase I clinical trials, along with several other products at various stages of development [4]. Financial Performance - Jingze Biopharma has reported net losses of 246 million yuan and 243 million yuan for 2023 and 2024, respectively, totaling over 480 million yuan in losses over two years [4]. - Research and development expenditures for the same period were 122 million yuan and 133 million yuan, accounting for over 70% of total operating expenses [4]. - As of the end of 2024, the company’s net current liabilities reached 1.325 billion yuan, an increase from 948 million yuan at the end of 2023, indicating significant liquidity pressure [4]. Operational Challenges - The company heavily relies on third-party contract research organizations (CROs) for preclinical research and some clinical trials, as well as third-party manufacturers for production, which poses risks related to timely delivery and compliance [5]. - Jingze Biopharma lacks experience in successfully commercializing drugs, planning to collaborate with established domestic pharmaceutical companies for the distribution of JZB30 while also preparing to build its own sales team, which requires substantial investment and time [5].

中国企业中辅助生殖和眼科领域获得最多处于临床阶段大分子药物的公司之一。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据 IPO早知道消息， 景泽生物 医药（合肥）股份有限公司 （以下简称 " 景泽生物 "）于2025年6 月27日正式向港交所递交招股说明书，拟主板挂牌上市，中金公司和国元国际担任联席保荐人。 成立于 2014年的 景泽生物 是 一家专注于辅助生殖药物和眼科药物两大赛道的生物制药公司。 根 据弗若斯特沙利文的资料，截至 2025年6月20日 ，景泽生物是中国企业中辅助生殖和眼科领域获 得最多处于临床阶段大分子药物的公司之一。 截至 2025年6月20日 ，景泽生物辅助生殖治疗领域的核心产品之一 JZB30 （rhFSH冻干粉针剂 型）已正式获批进行商业化，而 其 主要产品之一 JZB33 （rhFSH水针剂型）提交NDA，同时眼科 领域的核心产品JZB05（抗VEGF眼内注射液）正在中国大陆40余家中心开展III期临床试验。 具体来看两款核心产品： JZB30 作为 景泽生物在辅助生殖治疗领域的首个商业化产品，其是景泽生物研发的重组人促卵泡激 素 ( ...

"购买产品的初衷是想祛痘，没想到越用痘痘越严重。问客服就说是在'排毒'，还继续推销产品。"近日，新京报记者收到多位消费者投诉，称自己通过短视 频平台（抖音）引流添加了IRY皮肤管家微信，在其推荐下购买了祛痘产品，使用后出现"爆痘"等问题，且售后维权困难。 新京报记者调查发现，该品牌通过短视频平台引流，引导消费者添加皮肤管家（客服人员）微信，随后在微信私域中推销产品。消费者购买产品后，如果在 使用过程中出现皮肤问题，客服人员就会归因于皮肤在"排毒"，并继续向消费者推销其他产品。消费者若想退货退款，对方便以拆封不可退为由拒绝，或要 求消费者销毁产品后仅给予部分补偿，甚至不再理会消费者。新京报记者注意到，截至6月24日，在黑猫投诉平台上，IRY祛痘产品的消费者投诉高达1878 条，涉及问题包括使用后痘痘加重、使用后过敏不退款、宣传与实际不符、引诱消费以及维权难等问题。 医生提醒，无论通过药物还是护肤品抑制痘痘，都是通过抑制炎症从而控制痘痘的发展。护肤品只能起到辅助作用，单纯依靠护肤品很难完全解决痘痘问 题。律师提醒，化妆品维权存在一定难度，消费者应加强证据意识。同时，在购买相关产品时，消费者可以关注市场监管部门、药 ...

星标 ★ IPO日报 精彩文章第一时间推送 高度依赖单一产品 据悉，*ST龙津公司全称为昆明龙津药业股份有限公司，成立于1996年9月，于2015年在深交所挂牌上市。 公司聚焦于心脑血管疾病及代谢类疾病两大领域的治疗型药物的开发、研究、生产及销售，其主导产品为龙津注射用灯盏花素冻干粉针剂，该产品 2016年销量曾达到3569万支的峰值。 2015年—2017年，上市后前三年公司营收较为稳定，分别为1.81亿元、2.24亿元、3.04亿元，实现扣非净利润为0.54亿元、0.58亿元、0.19亿 元。 但在2018年之后，公司盈利状况急转直下，2019年至今，其扣非净利润始终为负值。 制图：李昕 根据2024年年报，*ST龙津全年营收0.66亿元，同比下滑23.25%，连续五年未达1亿元；净利润亏损0.41亿元，虽同比收窄41.58%，但扣非净利 润仍亏损0.5亿元。 这一数据直接触发深交所退市新规中"净利润为负且营收低于3亿元"的强制退市条款。 2025年5月29日，*ST龙津（002750.SZ）公告称，公司于2025年5月28日收到深交所送达的《关于昆明龙津药业股份有限公司股票终止上市的决 定》，深交所决定 ...