Group 1: Acquisition Overview - The company Yimai Sunshine (02522.HK) announced the acquisition of 70% equity in Guangzhou Gaomai Health Technology Co., Ltd. for a total consideration of 54 million yuan [1] - Following the acquisition, Gaomai Health will become a subsidiary of Yimai Sunshine, and its financial performance will be consolidated into Yimai Sunshine's financial statements [1] - This acquisition is expected to have a significant impact on the third-party medical imaging service industry and the overall healthcare market landscape [1] Group 2: Policy and Market Opportunities - The "One County, One Nuclear Medicine Department" policy aims to enhance the development of nuclear medicine in China, addressing long-standing issues such as insufficient supply of medical isotopes and lack of specialized talent [2] - The National Health Commission has set goals for comprehensive coverage of nuclear medicine departments in hospitals by 2025 and aims for self-supply of major medical isotopes by 2027 [2] - These policies provide strong support and development opportunities for related enterprises in the nuclear medicine sector [2] Group 3: Strategic Significance of the Acquisition - Gaomai Health specializes in nuclear medicine imaging technology and operational management services, which will enhance Yimai Sunshine's capabilities in nuclear medicine project development and management [4] - The acquisition allows Yimai Sunshine to accelerate the establishment of nuclear medicine projects in county-level areas, filling service gaps and improving grassroots healthcare levels [4] - The collaboration is expected to lead to innovative investment and operational models for hospital nuclear medicine projects [4] Group 4: Synergies and Innovations - The partnership will leverage both companies' strengths in radioactive drug development and medical imaging, promoting the application of new radioactive drugs in PET/CT services [5] - This collaboration aims to enhance diagnostic capabilities and provide reliable solutions for early screening and treatment of major diseases [5] - The companies will work together to promote third-party medical imaging services and expand their market presence both domestically and internationally [6] Group 5: Market Dynamics and Competition - The acquisition is seen as a "carrier-level" consolidation in the third-party medical imaging field, increasing market concentration and competitive pressure on smaller firms [7] - The competition will intensify in traditional medical imaging services, with key factors being service quality, pricing, and coverage [7] - Companies will need to innovate business models and enhance their overall strength to navigate the increasingly diverse competitive landscape [7] Group 6: Collaborative Innovation Trends - The acquisition is expected to drive a trend of collaborative innovation within the industry, as companies seek to enhance their competitive edge through partnerships [8] - There will be an increased focus on cooperation with research institutions to accelerate the development of new radioactive drugs [8] - The trend towards "Internet + medical imaging services" will further improve patient experience and service efficiency [8]

Core Viewpoint - Guangdong Province has issued an action plan to accelerate the high-quality development of the nuclear medicine industry from 2025 to 2030, focusing on innovation and collaboration in the sector [1]. Group 1: Development Goals - By 2030, Guangdong aims to significantly enhance its independent innovation capabilities in the nuclear medicine industry, break through key technologies, and establish several innovation platforms [1]. - The plan includes ensuring stable supply of commonly used medical isotopes and advancing a number of radiopharmaceuticals and high-end nuclear medical equipment to clinical trial stages [1]. - The goal is to achieve full coverage of nuclear medicine departments in tertiary general hospitals and cultivate 3-5 leading nuclear medicine enterprises with national influence, along with a number of specialized and innovative companies [1]. Group 2: Collaboration and Innovation - The plan encourages establishing cooperative mechanisms with major medical isotope-producing countries and promotes joint research in radiopharmaceutical development with international research institutions [1]. - There is a strong emphasis on supporting the innovation and research of radiopharmaceuticals, encouraging investments from enterprises, healthcare institutions, universities, and research institutes [1]. Group 3: Talent Development - The plan supports the optimization of academic programs in key universities such as Sun Yat-sen University and Jinan University to develop nuclear medicine specialties, including radiology, nuclear medicine, radiochemistry, and radiation protection [2].

Core Viewpoint - Beijing Xiantong International Pharmaceutical Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CICC and CITIC Securities as joint sponsors [1] Financial Performance - The company reported a net loss attributable to the parent of RMB 297 million in 2023 and RMB 149 million in 2024 [2][5] - Revenue for 2023 was RMB 10.23 million, increasing to RMB 44.064 million in 2024 [5][7] - The company incurred significant research and development expenses exceeding RMB 296 million in 2023 and RMB 228 million in 2024 [6][7] Market Focus - The company is focused on developing and commercializing radioactive drugs, aiming to become the first listed company in China with innovative or best-in-class products in this field [3] - The product pipeline includes 15 assets, with four core products: XTR008, XTR006, XTR004, and XTR003, targeting oncology, neurodegenerative diseases, and cardiovascular diseases [3] Market Growth - The global radioactive drug market is projected to grow from USD 5 billion in 2018 to USD 9.7 billion by 2024, with a compound annual growth rate (CAGR) of 11.7% [5] - In China, the market is expected to increase from RMB 3.6 billion in 2018 to RMB 7.4 billion by 2024, with a CAGR of 13.0% [5] Customer Concentration - The company has a high customer concentration, with revenue from the top five customers accounting for 95.7% in 2023 and 93.3% in 2024 [7] Shareholder Structure - The largest shareholder group holds approximately 27.03% of the voting rights as of May 23, 2025 [8] Fundraising Purpose - The funds raised will be used for the research and registration of core products, development of other candidate products, and enhancement of sales and marketing capabilities [9]

Group 1: Hand Return Group - Hand Return Group plans to list on the Hong Kong Stock Exchange on May 30, 2025, with the stock code "2621" [3] - The IPO will issue a total of 24,358,400 shares, with a subscription rate of 990 times for the Hong Kong public offering and 1.13 times for the international offering [3] - The company aims to provide insurance service solutions through its online platform, with three main platforms: Xiao Yusan, Kachaba, and Niu Bao 100 [3] - Hand Return Group is the second-largest online insurance intermediary in China, holding a 7.3% market share in long-term life insurance premiums as of 2023 [4] - The company has distributed over 1,900 products since its establishment, including more than 280 customized products [4] - Financial data shows revenues of 806 million, 1.634 billion, and 1.387 billion CNY from 2022 to 2024, with adjusted net profits of 75 million, 253 million, and 242 million CNY respectively [5] Group 2: Yingshi Innovation - Yingshi Innovation plans to open subscriptions on May 30, 2025, and is expected to list on the Sci-Tech Innovation Board in mid-June [7] - The company will issue 41 million new shares, with 20% allocated for strategic placement [7] - Yingshi Innovation specializes in smart imaging devices, focusing on panoramic and action cameras, with a global market share of 67.2% in panoramic cameras as of 2023 [8] Group 3: Lin Qingxuan - Lin Qingxuan submitted its prospectus to the Hong Kong Stock Exchange on May 29, 2025, aiming for a main board listing [10] - The brand ranks first among domestic high-end skincare brands in China by retail sales as of 2024 [11] - Financial data indicates revenues of 691 million, 805 million, and 1.21 billion CNY from 2022 to 2024, with a compound annual growth rate of 32.5% [11] Group 4: Yushi Technology - Yushi Technology submitted its prospectus on May 28, 2025, planning to list on the Hong Kong Stock Exchange [14] - The company is the largest supplier of L4-level autonomous driving solutions for airport and factory scenarios in Greater China as of 2024 [15] - Financial data shows revenues of 66 million, 161 million, and 266 million CNY from 2022 to 2024, with a compound annual growth rate of 101.3% [15] Group 5: Yisiwei Computing - Yisiwei Computing submitted its prospectus on May 30, 2025, aiming for a main board listing [19] - The company is a leading provider of RISC-V solutions in China, with over 100 system-level solutions commercialized as of 2024 [20] - Financial data indicates revenues of 2 billion, 1.752 billion, and 2.025 billion CNY from 2022 to 2024 [20] Group 6: Xian Gong Intelligent - Xian Gong Intelligent submitted its prospectus on May 27, 2025, planning to list on the Hong Kong Stock Exchange [22] - The company ranks first in global robot controller sales for two consecutive years, with a market share of 23.6% in 2024 [22] - Financial data shows revenues of 184 million, 249 million, and 339 million CNY from 2022 to 2024, with a compound annual growth rate of 35.7% [23] Group 7: Tuopu CNC - Tuopu CNC submitted its prospectus on May 26, 2025, aiming for a main board listing [27] - The company is the top supplier of five-axis CNC machine tools in China's aerospace market, with an 11.6% market share as of 2024 [29] - Financial data indicates revenues of 136 million, 335 million, and 531 million CNY from 2022 to 2024, with a compound annual growth rate of 97.9% [29] Group 8: Xiantong Pharmaceutical - Xiantong Pharmaceutical submitted its prospectus on May 26, 2025, planning to list on the Hong Kong Stock Exchange [32] - The company is the first in China to obtain approval for innovative radioactive drugs, focusing on oncology and neurodegenerative diseases [32] Group 9: Ledong Robotics - Ledong Robotics submitted its prospectus on May 30, 2025, aiming for a main board listing [35] - The company has a customer retention rate of approximately 90% in 2024, with a compound annual growth rate of about 41.4% in revenues from 2022 to 2024 [36] Group 10: Saintong Special Medical - Saintong Special Medical submitted its prospectus on May 30, 2025, planning to list on the Hong Kong Stock Exchange [38] - The company ranks first among domestic special medical food brands in China, with a market share of 6.3% as of 2024 [39] - Financial data shows revenues of 491 million, 654 million, and 834 million CNY from 2022 to 2024, with a compound annual growth rate of 30.3% [39] Group 11: Jushuitan - Jushuitan updated its prospectus on May 22, 2025, continuing its listing process on the Hong Kong Stock Exchange [41] - The company is the largest e-commerce SaaS ERP provider in China, holding a 24.4% market share as of 2024 [42] - Financial data indicates revenues of 523 million, 697 million, and 910 million CNY from 2022 to 2024, with a compound annual growth rate of 31.9% [42]

为放射性药物提供从非临床到临床转化的一体化服务。 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，今年11月，放射性药物领域创新型企业通瑞生物制药（成都）有限公司（下 称"通瑞生物"）宣布完成超1亿美元A+轮融资。本轮融资由深创投制造业转型升级新材料基金（下 称"深创投集团"）、泰珑投资共同领投，高瓴创投（GL Ventures）、三生制药（1530.HK）、光 华梧桐、某知名产业投资机构等多家机构和产业方共同参与投资，凯乘资本担任独家财务顾问。 本轮融资将帮助进一步完善公司靶向前体发现等核心技术平台，升级创新RDC药物高通量筛选能 力，加速多条国际领先研发管线、特别是α核素RDC药物的临床开发进程，为全球患者带来更有效的 治疗方案。 随着现代医学对精准诊断和治疗的需求不断增加，放射性药物凭借其独特的优势，在肿瘤、心血管疾 病、神经系统疾病等多个领域展现出巨大的应用前景。2023年，诺华的两款放射性配体疗法药物成 功上市并在商业上取得很大成就，与此同时，礼来以14亿美元对核药企业Point实施收购，而BMS （百时美施贵宝）斥资41亿美元收购核药企业RayzeBi ...