多宁生物通过两块核心业务为制药公司、CRO/CDMO及科研机构提供全面支持，提供涵盖生物工艺所 有主要步骤的试剂、耗材及设备（如细胞培养基、生物反应器、层析填料等），为实验室研发提供设 备、耗材及相关技术开发、检测及验证服务。公司已服务超过3700名客户，其中约80%的主要客户选择 与公司长期合作。 多宁生物计划将上市募集的资金主要用于：持续开发新产品并提升综合解决方案的竞争优势。通过在海 外建立研发中心、生产基地及销售网络，进一步拓展全球市场份额。增强生产设施的建设，并持续投入 研发以保持核心技术的领先性。 多宁生物向香港联交所递交招股说明书，摩根士丹利与华泰国际担任联席保荐人。 公司通过"生物工艺解决方案"和"实验室产品及服务"双轮驱动，为全球制药公司、CRO/CDMO及科研 机构提供高品质的培养基、生物反应器、一次性使用产品及过滤器等。 按2024年收益计，公司在中国生物工艺解决方案市场的所有供应商中排名第六；在所有本土供应商中排 名第二。在细胞培养基、生物反应器、一次性使用产品、过滤器等多个关键产品类别中，公司均处于本 土企业的领先地位。 （文章来源：证券时报网） ...

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Shanghai Duoning Biotechnology Co., Ltd. 上海多寧生物科技股份有限公司 (the "Company") (A joint stock company incorporated in the ...

Core Viewpoint - Biomanufacturing is identified as a key future industry in China's 14th Five-Year Plan, expected to create a market worth trillions in the next decade, driven by advancements in technology and policy support [2][5]. Group 1: Industry Overview - The biomanufacturing industry in China is nearing a total scale of 1 trillion yuan, with fermentation capacity accounting for over 70% of the global total [2][4]. - Shenzhen has become a hub for biomanufacturing, with 40% of newly established companies in this sector located there in the past three years, showcasing a significant industry clustering effect [4]. - The industry is supported by a comprehensive system of policy, funding, and technological advancements as outlined in the 14th Five-Year Plan [5]. Group 2: Key Enterprises - The article identifies 100 core enterprises in biomanufacturing, spanning the entire industry chain from upstream technology development to downstream commercial applications [7]. - Notable companies include: - Huada Technology, a leader in gene sequencing technology [17]. - Kaisa Biotech, which has achieved over 80% market share in the global long-chain dicarboxylic acid market [21]. - WuXi Biologics, representing China's capabilities in the global biopharmaceutical industry [27]. Group 3: Upstream Innovations - The upstream sector focuses on providing essential tools and technologies for research and production, with a shift towards domestic innovation and smart integration [16]. - Key trends include the localization of critical tools and the rise of AI-driven platform companies that enhance research efficiency [16][17]. - Over 75% of the 20 identified upstream enterprises are private, indicating a vibrant innovation landscape [16]. Group 4: Midstream Developments - The midstream sector is characterized by a dual structure of "upgraders" and "disruptors," with companies like Meihua Biotech and Chuaning Biotech leading in traditional fermentation while others like Kaisa Biotech innovate with new bioproducts [20][21]. - This segment contains the highest number of enterprises, with 40 out of the 100 identified companies, emphasizing the importance of production capacity and cost control [20]. Group 5: Downstream Applications - The downstream sector serves as a critical market for biomanufacturing, focusing on medical, consumer, and agricultural applications [25]. - Companies like Muyuan Foods exemplify the cost-saving potential of biomanufacturing in agriculture, while WuXi Biologics and Kelaiying represent the pharmaceutical sector's output capabilities [26][27]. - Future trends indicate a broadening of applications into new areas such as biobased textiles and environmental remediation [27].

来源：@证券市场周刊微博 2025年三季度，制药装备相关上市公司业绩大都出现拐点，在此背后是需求端的恢复。随着制药行业复 苏，全球产能进入扩张周期，启动了新一轮产能建设，制药装备行业因此将大为受益。 而据森松国际半年报，2025年上半年其收入26.87亿元，同比下降22.7%；归母净利润3.4亿元，同比下 降10.1%。虽然营收和净利润均同比下滑，但森松国际在手订单却创出历史新高，主要是医药带动新签 订单超预期。上半年，森松国际新签订单59.96亿元，同比增长89.5%。其中，医药新签订单43.72亿 元，同比增长642%。截至2025年6月底，公司在手订单为105.66亿元，同比增长20.4%，创历史新高。 上半年新签订单中，海外订单占比达到92.8%，同比有较大提升。 在此背后是制药装备行业的恢复。随着制药行业复苏，全球产能进入扩张周期，制药装备行业大为受 益。 薛宇/文 2025年以来，在创新药行情催化下，医药行业股价整体表现较好。 其中，年初以来，港股上市公司森松国际（02155.HK）股价由4.303港元/股上涨至最高的11.68港元/ 股，涨幅接近两倍。深挖背后的原因，一方面源自行业恢复，公司订单 ...

分析证实，两组类器官均发育出具有气道和肺泡特征的肺样结构。RNA测序显示，它们形成了具 有典型特征的上皮细胞与中胚层肺细胞。 尽管两组类器官发育出的细胞类型相同，但比例略有差异。例如，人工培养的类器官含有更多肺泡 细胞，而生物反应器中的类器官体积较大，肺泡球结构较少。 生物反应器可一次性量产类器官，显著减轻了人工负担，有望改变肺病研究格局。未来患者或可利 用自身组织，通过该反应器培育个性化类器官，提前测试治疗方案的有效性。 团队首先选取干细胞，令其在培养皿中增殖。待细胞充分生长后，将其分离并"激活"，形成小型细 胞聚集体，即胚状体。随后，他们将胚状体置于特殊生物反应器中，其中含有促进类器官生长的培养 液。同时，团队还人工培养了一组类器官作为对照。 这些结构在反应器中生长4周后，团队通过显微镜、免疫荧光、免疫组化及RNA测序进行分析，以 了解类器官的发育过程、细胞类型及其与传统培养类器官的差异。 科技日报讯 （记者刘霞）德国杜伊斯堡-埃森大学科学家在近日出版的《生物工程与生物技术前 沿》杂志发表论文称，他们开发出一种自动化制备方法，可批量生产微型肺类器官。这种类器官包含真 实肺细胞微结构，能更有效地测试实验药物 ...

Core Insights - The upcoming "15th Five-Year Plan" emphasizes the construction of a modern industrial system and the strengthening of the real economy as a strategic priority, focusing on the development of emerging and future industries [1][2] Emerging Industries - The plan aims to cultivate new pillar industries, accelerating the development of strategic emerging industry clusters such as new energy, new materials, aerospace, and low-altitude economy, potentially creating several trillion-yuan markets [2] - Future industries like quantum technology, biomanufacturing, hydrogen energy, nuclear fusion, brain-computer interfaces, and sixth-generation mobile communication are highlighted as new economic growth points [2][4] City-Level Developments - Cities like Beijing, Shanghai, and Shenzhen continue to lead in emerging industries, while newer cities like Hangzhou and Hefei are also making significant strides [3] - Hefei is recognized as a hub for quantum technology, housing nearly one-third of the country's quantum enterprises and establishing a complete ecosystem from research to industrialization [7] Quantum Technology - Hefei's quantum technology sector is experiencing a financing boom, with companies like Benyuan Quantum and Guo'an Quantum preparing for IPOs, indicating strong market interest [7] - The city is implementing a "technology innovation + scenario application" initiative, allocating at least 30 million yuan to develop urban and industrial scenarios [7] Biomanufacturing - The biomanufacturing industry in China is nearing a total scale of 1 trillion yuan, with competitive clusters emerging in cities like Shanghai, Beijing, and Shenzhen [9][10] - Shenzhen is becoming a highland for synthetic biology, with 40% of new synthetic biology enterprises established there in the past three years [10] Hydrogen and Nuclear Fusion - Hydrogen energy and nuclear fusion are identified as key future industries, with over 20 provinces outlining long-term plans for hydrogen energy development [14] - Chengdu and Hefei are leading in nuclear fusion research, with significant advancements in experimental conditions for fusion energy [15] Brain-Computer Interfaces - The brain-computer interface market is projected to reach approximately $2.62 billion by 2024, with cities like Beijing, Shanghai, Shenzhen, and Hangzhou taking the lead in developing this technology [16][20] - Policies are being implemented to foster a competitive ecosystem in brain-computer interfaces, aiming to cultivate globally influential enterprises by 2030 [19] Embodied Intelligence - The embodied intelligence market in China reached 418.6 billion yuan in 2023, with expectations for growth driven by advancements in AI technology [21][22] - Cities are competing to establish themselves as leaders in this sector, with Beijing and Shenzhen targeting the development of a trillion-yuan industry cluster by 2027 [22][23] Sixth-Generation Mobile Communication - Nanjing is emerging as a key player in the 6G sector, having established a comprehensive experimental platform and hosting significant industry events [26][27] - Traditional communication strongholds like Beijing and Shanghai continue to maintain their advantages while developing supportive policies for 6G applications [26][27]

Core Viewpoint - The company has terminated the planned acquisition of 55% of Shanghai CanShine Engineering Equipment Co., Ltd., which has drawn market attention, but this decision will not adversely affect its business operations or financial status [1][2]. Group 1: Acquisition Details - The acquisition was aimed at addressing core pain points in the biopharmaceutical sector and enhancing the company's strategic layout in this area [2]. - Shanghai CanShine possesses core capabilities in high-end biopharmaceuticals, including monoclonal antibodies and vaccines, which align well with the company's existing business [2]. - The termination of the acquisition was due to the inability to reach consensus on key terms, reflecting the company's commitment to shareholder interests and prudent decision-making [2][3]. Group 2: Strategic Focus - The company remains committed to its strategic focus in the semiconductor and biopharmaceutical sectors, emphasizing its modular overall solutions that meet overseas biopharmaceutical clients' needs for efficient delivery and compliance [3]. - Continuous investment in independent innovation has led to the establishment of a modular manufacturing base, supporting scalable and standardized development [3]. - The company plans to leverage favorable policies and market conditions to enhance its integrated solutions in biopharmaceutical cleanroom systems and core process systems, aiming to meet evolving customer demands and improve competitive strength [3].

Core Viewpoint - The article highlights high-paying job opportunities in the laboratory instrument sales sector, emphasizing the demand for skilled professionals in various roles across different cities in China [2][3][5][10]. Job Opportunities - Positions available include Laboratory General Instrument Sales Engineer in Guangzhou with a salary range of 8k-15k, requiring a background in chemistry, pharmacy, or related fields [2]. - Sales Project Manager in Shanghai offers a salary of 10k-20k, requiring a degree in chemistry or biology and at least three years of sales experience in the instrument industry [3][4]. - CRO Industry Development Manager in Beijing with a salary range of 15k-30k, requiring familiarity with CRO operations and experience in chromatography instruments [5]. - Application Engineer for Bioreactors in Suzhou, offering 10k-20k, focusing on customer technical support and product improvement [8]. - Sales Engineer positions available at various companies, including Agilent and Anton Paar, with salaries ranging from 18k-28k and requiring relevant industry experience [10][13]. Candidate Requirements - Most positions require a bachelor's degree or higher in relevant fields such as chemistry, biology, or materials science [4][14]. - Candidates should possess strong sales experience, communication skills, and the ability to work independently [4][11]. - Specific technical knowledge related to laboratory instruments and experience in customer engagement are emphasized across various roles [5][8][14].

Group 1 - The second academic conference on bioreactor engineering and biomanufacturing was held in Shanghai, focusing on cutting-edge technologies and industry development in the field [1] - East China University of Science and Technology aims to seize opportunities in the biomanufacturing sector, enhancing research in fine chemicals, electronic chemicals, and new energy [1] - Advanced biomanufacturing is recognized as a disruptive technology that transcends traditional disciplines, necessitating a new foundational development logic [1][2] Group 2 - Bioreactors are identified as the "core engine" of biomanufacturing, with next-generation intelligent bioreactors expected to facilitate the efficient conversion of synthetic biology achievements [1] - The importance of bioreactor engineering in the industrialization of synthetic biology outcomes is emphasized, calling for enhanced collaboration between industry, academia, and research [1] - Key figures in the field discussed various topics, including the development of synthetic biology, the application of core materials in biopharmaceutical innovation, and the upgrade of the health industry driven by food and medicine integration [2]

Core Viewpoint - Shanghai Aopumai Biotechnology Co., Ltd. plans to acquire 100% equity of Pengli Biotechnology (Shanghai) Co., Ltd. through a combination of issuing shares and cash payment, involving multiple investment partners [1][3]. Group 1: Acquisition Details - The acquisition involves multiple investment entities, including PharmaLegacy Hong Kong Limited and several limited partnerships, indicating a broad consortium of investors [1]. - The company intends to raise supporting funds by issuing shares to no more than 35 specific investors as part of this transaction [3]. Group 2: Regulatory Compliance - The transaction is in accordance with the "Major Asset Restructuring Management Measures" which stipulates that continuous purchases or sales of the same or related assets within twelve months must be cumulatively calculated [3][4]. - The assets involved in the transaction are recognized as belonging to the same or similar business scope, thus requiring inclusion in the cumulative calculation for this transaction [5]. Group 3: Financial Adjustments - The company has adjusted its capital increase plan for its subsidiary, increasing the planned investment from 20 million RMB to 5 million RMB, reflecting a strategic shift in resource allocation [4]. - The company has also made additional investments in other subsidiaries, such as a 42 million RMB increase in Suzhou Haixing Biotechnology Co., Ltd., acquiring a 30.0014% stake [4][5].