Group 1 - The event "Exploring the Trillion-Yuan Biomanufacturing Synthesis Code" aims to showcase Shandong's biomanufacturing innovations and industry advantages, enhancing brand influence and accelerating new productivity development [1][4] - Shandong is recognized as a leader in biomanufacturing in China, with the most diverse product types and significant international standing [4][11] - The biomanufacturing industry in Shandong has achieved a unique advantage characterized by scale, complete supply chains, and active innovation, with several key products holding the world's largest production capacity [8][11] Group 2 - The provincial government plans to strengthen policy support and complete the "14th Five-Year" development plan for the biomanufacturing industry by the end of the year [8] - The industry is projected to exceed a production value of 680 billion yuan in 2024, with significant contributions to green products and carbon emission reductions [11] - Leading companies in the biomanufacturing sector, such as Huaxi Biotechnology Co., Ltd. and Shandong Bailong Chuangyuan Biotechnology Co., Ltd., shared their achievements and experiences during the event [16]

东方证券股份有限公司 关于浙江华康药业股份有限公司部分募集资金投资项目终止 并将剩余募集资金永久补充流动资金及注销募集资金专户 的核查意见 东方证券股份有限公司（以下简称"东方证券"或"保荐机构"）作为浙江 华康药业股份有限公司（以下简称"华康股份"或"公司"）首次公开发行股票 并上市的持续督导机构及向不特定对象发行可转换公司债券的保荐机构，根据 《证券发行上市保荐业务管理办法》《上市公司募集资金监管规则》（以下简称 "《监管规则》"）《上海证券交易所上市公司自律监管指引第 1 号——规范运 作》（以下简称"《规范运作》"）、《上海证券交易所股票上市规则》（以下 简称"《上市规则》"）等法律法规，对华康股份部分募集资金投资项目终止并 将剩余募集资金永久补充流动资金及注销募集资金专户的事项进行了核查，核查 情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于核准浙江华康药业股份有限公司首次公开 发行股票的批复》（证监许可[2020]3152 号）核准并经上海证券交易所同意，公 司首次公开发行人民币普通股 A 股股票 2,914 万股，每股发行价格为人民币 51.63 元，募集资金总额为人民币 150 ...

Group 1 - The latest stock price of Huakang Co., Ltd. is 18.05 yuan, up 0.39% from the previous trading day, with a trading volume of 24,473 hands and a transaction amount of 44 million yuan [1] - The company has a total market capitalization of 5.47 billion yuan and a price-to-earnings ratio of 16.87 times [1] - Huakang Co., Ltd. operates in the food and beverage sector, focusing on the research and production of functional sugar alcohols, starch sugars, and health food ingredients [1] Group 2 - On August 6, the company disclosed the institutional research records from July 1, with 10 institutions including Guosen Securities and Southern Fund participating, focusing on the development of the company's sugar alcohol business [1] - This marks the 95th institutional research activity for the company in the past year [1] - On August 6, the net outflow of main funds was 3.41 million yuan, with a cumulative net outflow of 10.03 million yuan over the past five trading days [1]

Market Overview - In June 2025, the stock market experienced an overall rise due to the easing of Middle Eastern tensions and multiple thematic catalysts, while bond market interest rates declined [4][7] - The average parity of convertible bonds reached a near-high level, with significant valuation increases for bond-like convertible bonds [5][7] - The China Securities Convertible Bond Index closed at 442.1 points on June 27, marking a 2.68% increase for the month [7] Convertible Bond Market Analysis - As of June 27, the arithmetic average parity of convertible bonds was 103.14 yuan, up 3.77% from the previous month, placing it in the 98th percentile since 2023 [7][23] - The average conversion premium rate for bonds in the price range of 90 to 125 yuan was 21.13%, also in the 48th percentile for 2023 [7][23] - The average yield to maturity (YTM) for bond-like convertible bonds fell below zero, indicating a shift in market sentiment [7][29] Recommended Convertible Bonds - The "Top Ten Convertible Bonds" for July 2025 include: - **Shenzhen Gas Convertible Bond (113067.SH)**: High balance and stable profitability, rated AAA [31][32] - **Hongcheng Convertible Bond (110077.SH)**: Stable operations and high dividend payout, rated AA+ [31][43] - **Weir Convertible Bond (113616.SH)**: Strong growth in consumer electronics and automotive sectors, rated AA+ [31][55] - **Jingce Convertible Bond (123176.SZ)**: Urgent need for domestic semiconductor testing equipment, rated AA- [31][66] - **Haoyuan Convertible Bond (118051.SH)**: Recovery trend in innovative drug development, rated AA- [31][79] - **Huakang Convertible Bond (111018.SH)**: Leading position in functional sugar alcohols, rated AA- [31][90] - **Bohai Convertible Bond (113069.SH)**: Steady growth in special alloy materials, rated AA [31][101] - **Dongcai Convertible Bond (113064.SH)**: Increased demand for high-frequency resin materials driven by AI server construction, rated AA [31][113] Industry Insights - The gas industry, represented by Shenzhen Gas, is experiencing steady growth in natural gas sales, with a 5.06% year-on-year increase in supply volume [36] - The environmental governance sector, led by Hongcheng Environment, shows stable revenue growth from water supply and treatment services, with a focus on expanding its business footprint [46] - The semiconductor industry, highlighted by Weir Group, is benefiting from increased demand in automotive electronics and consumer electronics, with significant revenue growth projected [58] - The healthcare sector, represented by Haoyuan Pharmaceutical, is positioned to capitalize on the recovery of innovative drug research and development [82]