据 IPO早知道消息，长风药业股份有限公司（下称"长风药业"）于2025年10月8日正式以"2652"为 股票代码在港交所主板挂牌上市。 本次全球发售 4119.8万股，其中香港公开发售获6,697.80倍认购，成为今年8月港交所经修订后的 新股定价机制实行以来，超购倍数第二高的新股。 长风药业是全球少数掌握吸入制剂全链条技术的企业，拥有全剂型技术平台和面向全球高端制剂市场 的生产设施，具备复杂复方吸入制剂的研发及商业化能力。通过在吸入制剂领域粒子工程、装置设 计、产品表现评估、规模生产工艺、临床开发等能力平台的积累，长风药业在全球吸入制剂开发方面 处于前沿地位。 本文为IPO早知道原创 作者｜C叔 微信公众号｜ipozaozhidao 长 风药 业 港 股｜挂 牌上市 一周IPO动态，覆盖港股、美股、A股。 目前，云迹科技的产品已覆盖全球超 3.4万家酒店，服务华住、锦江、如家、开元、洲际等头部酒店 集团，2024年与美团外卖达成合作，已向万家酒店提供从"平台下单—骑手接单—机器人送达房 间"的全程闭环配送联动服务，全球同时在线机器人单日峰值超3.6万台，年累计服务次数突破5亿 次。 值得注意的是，依托成熟 ...

| 序号 | 名称 | 代码 | 现价 | 涨跌 | 涨跌幅 ^ | 成交额 | 年初至今 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 药明生物 | 2269 | 37.860 c | -3.100 | -7.57% | 28.43亿 | 115.60% | | 2 | 中芯国际 | 0981 | 77.550 c | -5.950 | -7.13% | 160.40亿 | 143.87% | | 3 | 紫金矿业 | 2899 | 33.660 c | -2.480 | -6.86% | 44.66亿 | 144.28% | | ব | 信义光能 | 0968 | 3.590 c | -0.230 | -6.02% | 3.69亿 | 15.82% | | 5 | 中国宏桥 | 1378 | 26.100 c | -1.660 | -5.98% | 10.08亿 | 137.79% | | ଚ | 药明康德 | 2359 | 112.400 c | -7.000 | -5.86% | 9.36亿 | 104.14% | | 7 | 百度 ...

恒生科技指数报6543点，下跌6.90点，跌幅0.11%。 分析人士认为，在此前港股快速上涨背景下，市场积累了大量获利盘，部分资金选择获利了结，导致短期回调。此次下跌被视为技术性调整，尤其是在恒生 指数接近关键阻力区域时，市场出现反复是正常现象。 新股方面，长风药业（02652.HK）今日上市交易，截至发稿，长风药业报47港元，较发行价涨超218%。 长风药业深耕呼吸系统疾病治疗领域，主要专注于吸入技术及吸入药物的研发、生产及商业化，是少数几家拥有广泛吸入制剂产品组合的公司之一。公司开 发以患者为中心的新型疗法，以治疗部分最严重的呼吸系统及肺部疾病，已拥有覆盖广泛患者、医学专科及治疗领域的产品组合。截至目前，产品组合包括 6个获国家药监局或FDA批准的产品，以及20多款正在中国、美国及╱或欧洲等主要市场和东南亚及南美等新兴市场进行全球开发的产品，多款产品处于临 床试验后期阶段或PK-BE试验中，即将注册和商业化。 其他方面，恒生指数成分股中，京东健康（06618.HK）涨超3%、美的集团（00300.HK）、信义光能（00968.HK）涨超1%；龙湖集团（00960.HK）跌超 8%。恒生科技指数成分股中小鹏 ...

Fundraising Overview - The company raised a total of RMB 200,000.00 million through a share placement, with actual funds raised amounting to RMB 171,599.38 million after deducting issuance costs of RMB 4,625.36 million, resulting in a net amount of RMB 166,974.02 million [1][5] - As of June 30, 2025, the company has utilized RMB 171,655.28 million of the raised funds, with RMB 4,865.02 million used in the first half of 2025 [1][5] - The balance of the fundraising account as of June 30, 2025, is RMB 947.31 million, primarily held in dedicated fundraising accounts [1][5] GDR Issuance - The company issued Global Depository Receipts (GDR) corresponding to 63,825,000 shares, raising approximately USD 9,204 million, with a net amount of about USD 8,930 million after deducting underwriting and bank fees [1][5] - As of June 30, 2025, the GDR fundraising account balance is USD 9,766.53 million, including interest income of USD 1,087.17 million [1][5] Fund Management - The company has established a fundraising management system to ensure that the funds are used specifically for their intended purposes, with strict approval processes in place [1][5] - Funds are stored in dedicated accounts approved by the board, and a tripartite supervision agreement has been signed with the sponsoring institution and banks [1][5] Fund Utilization - In the first half of 2025, the company used RMB 4,865.02 million of the raised funds, with approximately 70% allocated for global R&D and industrialization plans, 10% for global sales and service network development, and 20% for working capital and other general corporate purposes [1][5] - The company has replaced RMB 21,532.82 million of self-raised funds with the raised funds for investment projects, complying with legal requirements [1][5] Project Changes - The company has changed the use of funds from the Zhuhai Health Industry Base project to new product R&D, expansion of the Haibin Pharmaceutical Pingshan base, and information technology platform projects due to changes in project feasibility and market conditions [1][5] - The company plans to return RMB 3,386.29 million from the sale of land use rights related to the Zhuhai project to the fundraising account for new product R&D [1][5] Compliance and Disclosure - The company has complied with relevant regulations regarding the disclosure of fundraising storage and utilization, with no violations reported [1][5]

Core Insights - The article highlights the ongoing development and innovation in the synthetic biology and biomanufacturing sectors in China, with a focus on Guangdong province, particularly Guangzhou and Shenzhen, which are leading in policy support and innovation outcomes [2][3]. Summary by Sections Industry Overview - Guangdong province's biomanufacturing industry is valued at approximately 1.3 trillion yuan, ranking third nationally, with plans to elevate the industry to a trillion-yuan scale through the "Action Plan for Accelerating the Construction of Biomanufacturing Industry Innovation High Ground" [2]. - Shenzhen has positioned synthetic biology as one of its "20+8" future industries, establishing a comprehensive support system for biomanufacturing, including a major synthetic biology infrastructure and a national innovation center [2]. Company Rankings - SynBioCon has released the "Top 500 Representative Enterprises in Biomanufacturing (Guangdong Edition)," featuring 76 companies recognized for their competitiveness based on team, core products, and diverse possibilities [3]. Upcoming Events - The "China Biomanufacturing Industry Map (2025)" will be published in August 2025, with a focus on 500 representative enterprises in biomanufacturing [1]. - The Fourth Synthetic Biology and Green Biomanufacturing Conference will be held from August 20-22, 2025, in Ningbo, Zhejiang, focusing on AI and biomanufacturing, green chemicals, new materials, future food, and agriculture [12][14].

Core Viewpoint - The continuous implementation of centralized drug procurement in China is reshaping the pharmaceutical industry, pushing traditional companies towards efficiency, innovation, and international expansion to ensure sustainable development [1][2]. Group 1: Centralized Drug Procurement - The National Healthcare Security Administration has conducted the tenth batch of centralized drug procurement, involving 62 types of drugs, bringing the total to 435 since 2018 [1]. - Experts indicate that the normalization of centralized procurement is forcing traditional pharmaceutical companies to abandon simple expansion strategies and adapt to a more efficient and innovative operational model [1][2]. Group 2: Cost Control and Efficiency - Centralized procurement has significantly reduced drug prices by compressing the price margins in the distribution chain, compelling traditional companies to optimize costs and build a lean management system across the entire industry chain [2]. - Companies like Jiangsu Jibeier Pharmaceutical have implemented strict procurement management systems to control costs, while Health元药业 has integrated AI technology to enhance production efficiency and reduce risks [2]. Group 3: Research and Development - 博瑞医药 has increased its R&D investment in innovative drugs and inhalation formulations to 62.78% of total R&D spending, a year-on-year increase of 77.37% [3]. - The shift from scale expansion to lean survival is seen as a long-term strategic choice for traditional pharmaceutical companies, emphasizing the importance of genuine innovation for sustainable growth [3][4]. Group 4: Innovation and Market Position - Traditional pharmaceutical companies are increasingly focusing on developing innovative drugs and high-barrier generic drugs to transition from reliance on low-cost generics [4]. - 恒瑞医药 has invested 46 billion yuan in R&D since 2011, achieving significant milestones in innovative drug approvals and clinical trials [5]. Group 5: International Expansion - Chinese pharmaceutical companies are becoming key players in the global market, with over 90 licensing transactions completed in 2024, totaling over 50 billion USD [7]. - The trend of "going global" is driven by enhanced R&D capabilities and favorable external conditions, allowing companies to compete effectively on the international stage [7][8].

Group 1: Xianle Health - The company emphasizes its advantages in pharmaceutical DNA, innovation-driven approach, global supply chain, and comprehensive dosage forms, positioning itself as a leader in global nutrition and health solutions [1] - Xianle Health is facing dual opportunities from the evergreen market and new consumption market, with four competitive advantages: scale, ecosystem, internationalization, and technology [1] - The company expects to achieve a revenue of 4.211 billion yuan in 2024, representing a year-on-year growth of 17.56%, and plans to distribute a cash dividend of 6.5 yuan per 10 shares (tax included) [1] Group 2: Wharton Technology - Wharton Technology's business includes core membrane products, membrane separation engineering, and plant fiber business, with membrane products categorized into ultrafiltration, nanofiltration, and reverse osmosis membranes [2] - The revenue share of household membranes and industrial membranes is approximately 37%, with gross margin growth driven by increased production scale, production line upgrades, process improvements, and enhanced supply chain management [2] - The company anticipates over 20% growth in overseas markets in 2024, with nearly 30% of membrane product revenue coming from exports [2] Group 3: Borui Pharmaceutical - Borui Pharmaceutical has made progress in mylin target research, with BGM1812 showing potential for fat reduction with minimal muscle loss, and plans to submit IND applications in China and the U.S. [3] - The company believes that the mylin and dual-target combination has international competitiveness and plans to advance clinical trials in the U.S. [3] - Over half of the R&D investment is directed towards metabolic directions, with the remainder focused on high-barrier generics and innovative drugs, primarily in respiratory and inhalation formulations [3]