每经记者｜章光日 每经编辑｜何小桃 吴永久 1月30日早上，新诺威（SZ300765，市值546亿元）迎来新任总经理和新任董事会秘书，二人皆为"90后"。不过，资本市场对此反应并不友好，新诺威早 盘股价最大跌幅一度达到18%。而不久前，新诺威还发布了2025年年度业绩预亏公告，净利润较2024年同期下降416%至575%。 新任总经理和董秘皆为"90后" 1月30日，新诺威发布关于变更公司总经理、董事会秘书及证券事务代表的公告。该公告显示，姚兵申请辞去公司总经理职务，戴龙申请辞去公司董事会 秘书及证券事务代表职务，与此同时，公司董事会同意聘任戴龙担任公司总经理，同意聘任徐雯担任公司董事会秘书及证券事务代表。 图片来源：截图自新诺威公告 姚兵1977年5月出生，博士研究生学历，2024年4月开始担任新诺威总经理和董事长。在卸任总经理职务后，姚兵将继续担任新诺威董事长。新诺威2024年 年报显示，姚兵2024年从公司获得的税前报酬总额为53.84万元。 | 姓名 | 担任的职务 | 类型 | 日期 | 原因 | | --- | --- | --- | --- | --- | | 韩峰 | 总经理 | 解聘 | 2 ...

戴龙1992年6月出生，本科学历，2016年12月加入新诺威，历任公司财务经理、证券事务代表、董事会 秘书。目前，戴龙还担任新诺威的董事和财务总监。新诺威2024年年报显示，尽管身兼数职，但戴龙 2024年从公司获得的税前报酬总额仅为22.32万元。 全文请见：净利润连续三年大幅下滑！新诺威迎"90后"总经理，此前兼任公司董秘、证代和财务总监， 年薪仅22万元 1月30日早上，新诺威（300765）迎来新任总经理和新任董事会秘书，二人皆为"90后"。不过，资本市 场对此反应并不友好，新诺威早盘股价最大跌幅一度达到18%。而不久前，新诺威还发布了2025年年度 业绩预亏公告，净利润较2024年同期下降416%至575%。 新诺威的主营业务为生物制药和功能食品及原料的研发、生产和销售。生物制药聚焦于ADC、mRNA疫 苗以及抗体类药物等前沿领域，已搭建了专业的生物医药创新产业（300832）平台；功能食品及原料包 括咖啡因、维生素C含片等。 ...

1月30日早上，新诺威迎来新任总经理和新任董事会秘书，二人皆为"90后"。不过，资本市场对此反应并不友好，新诺威早盘股价最大跌幅一度达到18%。 而不久前，新诺威还发布了2025年年度业绩预亏公告，净利润较2024年同期下降416%至575%。新任总经理和董秘皆为"90后" 1月30日，新诺威发布关于变更公司总经理、董事会秘书及证券事务代表的公告。该公告显示，姚兵申请辞去公司总经理职务，戴龙申请辞去公司董事会秘 书及证券事务代表职务，与此同时，公司董事会同意聘任戴龙担任公司总经理，同意聘任徐雯担任公司董事会秘书及证券事务代表。 （图片来源：截图自新诺威公告） 姚兵1977年5月出生，博士研究生学历，2024年4月开始担任新诺威总经理和董事长。在卸任总经理职务后，姚兵将继续担任新诺威董事长。新诺威2024年年 报显示，姚兵2024年从公司获得的税前报酬总额为53.84万元。 （图片来源：截图自新诺威2024年年报） | 姓名 | 担任的职务 | 类型 | 日期 | 原因 | | --- | --- | --- | --- | --- | | 韩峰 | 总经理 | 解聘 | 2024 年 04 月 23 日 | ...

Core Viewpoint - Newway, the world's largest caffeine producer, is facing transformation anxiety as it seeks external financing through an IPO on the Hong Kong Stock Exchange to address performance challenges and transition pressures [1] Group 1: Financial Performance - Newway's overall performance has been declining, with revenue shrinking year by year. The company's revenue for 2022, 2023, and 2024 was 2.838 billion, 2.539 billion, and 1.981 billion respectively, reflecting year-on-year declines of 10.55% and 21.98% in 2023 and 2024 [2] - The net profit has also worsened, with figures of 294 million and 126 million for 2022 and 2023, and a projected net loss of 304 million for 2024 [2] - In the first seven months of 2025, revenue showed a slight increase of 8.74%, but losses expanded to 226 million compared to 38.79 million in the same period of 2024 [2] Group 2: Traditional Business Challenges - The core reason for the performance pressure is the sluggish growth of traditional business, which includes functional raw materials and health foods, contributing over 90% of revenue [2] - Revenue from functional raw materials and health foods was 2.571 billion in 2022, declining by 4.7% in 2023 and further by 24.9% in 2024, with a corresponding drop in gross margin to 39.6% [3] Group 3: Innovation Drug Transition - Newway's transition to innovative drugs has not yet yielded significant results, with the biopharmaceutical segment contributing less than 5% of revenue in 2024 [5] - The company invested 1.871 billion to acquire a 51% stake in Giant Bio, gaining access to antibody drugs and mRNA vaccines, but the revenue contribution from this segment remains low [5] - R&D expenses surged to 843 million in 2024, accounting for 42.5% of revenue, exacerbating losses [6] Group 4: Future Outlook - The success of Newway's IPO and its ability to alleviate financial pressure during the transition will depend on the efficiency of R&D conversion and commercialization capabilities post-funding [7] - If the core pipeline can progress smoothly through clinical trials and gain approval, it may open up revenue growth opportunities; otherwise, the challenges may intensify [7]

Core Viewpoint - Newnovel (300765), the world's largest caffeine producer, is facing transformation anxiety as it seeks external financing through an IPO on the Hong Kong Stock Exchange to address performance challenges and transition pressures [1] Financial Performance - Newnovel's revenue has been declining, with figures dropping from 28.38 billion yuan in 2022 to 19.81 billion yuan in 2024, representing a year-on-year decline of 10.55% in 2023 and 21.98% in 2024 [3][4] - The company reported a net profit of 2.94 billion yuan in 2022, which fell to 1.26 billion yuan in 2023, and turned into a net loss of 3.04 billion yuan in 2024 [3][4] - In the first seven months of 2025, Newnovel's revenue showed a slight increase of 8.74%, but losses expanded to 2.26 billion yuan compared to the same period in 2024 [3] Traditional Business Struggles - The traditional business, which includes functional raw materials and health foods, has been the main revenue contributor, accounting for over 90% of total revenue, but has shown weak growth [4] - Revenue from functional raw materials and health foods decreased from 25.71 billion yuan in 2022 to 19.81 billion yuan in 2024, with a decline of 4.7% in 2023 and 24.9% in 2024 [4] - The gross margin for this segment also fell from 45.6% in 2023 to 39.6% in 2024, indicating increasing pressure on profitability [4] Transition to Innovative Drugs - Newnovel's transition to innovative drugs has not yet yielded significant results, despite high gross margins of over 90% for biopharmaceuticals [5][6] - The company acquired a 51% stake in Jushi Biotech for 18.71 billion yuan in 2023, aiming to enhance its innovative drug pipeline, which includes antibody drugs and mRNA vaccines [5] - However, the revenue contribution from biopharmaceuticals remains low, accounting for less than 5% in 2024 and only 9.5% in the first seven months of 2025 [5][6] R&D Investment and Future Outlook - R&D expenses surged to 8.43 billion yuan in 2024, a 25.51% increase from 2023, representing 42.5% of total revenue, which has exacerbated the company's losses [6] - The upcoming IPO aims to raise funds primarily for biopharmaceutical R&D, asset acquisitions, product commercialization, and operational capital [6] - The success of Newnovel's transformation will depend on the efficiency of R&D conversion and commercialization capabilities post-funding [6]

Core Viewpoint - The article discusses the regulatory challenges and policy support for the biopharmaceutical industry in Shanghai, particularly focusing on the cross-province and cross-border segmented production of biological products, which is essential for integrating into the global supply chain [2][4]. Regulatory Challenges - High regulatory costs and data sharing risks are significant constraints on the segmented production of biological products across provinces and borders [2]. - The State Council issued a directive in January to explore segmented production models and support cross-border segmented production [2]. Policy Support - Shanghai has been actively promoting cross-province and cross-border segmented production since May, including the production of injectable drugs and ADCs [2]. - The Shanghai Municipal Drug Administration has outlined key conditions for contracted production, including a minimum of three years of commercial production experience and adherence to a unified quality management system [2]. Innovation and Approval - In the first half of 2025, 34 domestic innovative medical devices were approved, with Shanghai accounting for 21%, highlighting the city's significant role in the innovation landscape [3]. - The review process for innovative medical devices has been streamlined, reducing technical review timelines from 45 to 40 working days [3]. Support for Overseas Expansion - Policies have been introduced in the Pudong New Area to support biopharmaceutical companies in expanding overseas, including public service policies and talent incentives [4]. - The Pudong Trade Promotion Council has organized over 230 overseas exhibition projects, with more than 30 focused on biotechnology and medical devices, facilitating global market access for Shanghai's biopharmaceutical companies [5].