1月8日，北京智谱华章科技股份有限公司（以下简称"智谱"）成功登陆港交所，成为"大模型第一股"， 这不仅是其自身发展的里程碑，也是联想控股(03396)生态赋能AI初创企业的典型案例之一。上市后智 谱股价持续上涨，盘中一度突破千亿市值。 基于对人工智能产业的长期关注，联想控股体系（联融志道基金、君联资本、联想创投）连续多轮投资 智谱，并积极推动体系内产业公司与其展开深度合作，加速技术产业化进程。 除智谱外，过去一年成功登陆资本市场的多家AI相关企业，如摩尔线程、沐曦、小马智行、希迪智 驾、精锋医疗等，也均获得过联想控股体系的早期投资支持。而上述企业的集中上市，也意味着联想控 股在AI领域的前瞻布局正迎来进一步价值成长。 通过多层次体系化的科技创新，联想控股已在人工智能领域深入布局。 其中，联想控股旗下联想集团已将AI业务作为核心增长主线，取得了PC全球第一、高性能计算机全球 第一、服务器全球第三的成绩，并已发布覆盖全场景的超级智能体矩阵，成为其AI PC等智能终端产品 的标配。此外，旗下联泓新科、富瀚微等成员企业也在全力推动AI赋能业务发展，进一步助力AI在各 行各业加速落地。 另一方面，联想控股还致力于构建 ...

公开资料显示，精锋医疗是国内医疗器械行业的先进手术机器人公司，专注于手术机器人的设计、开发 及制造。根据弗若斯特沙利文的资料，精锋医疗是中国首家、全球第二家同时取得多孔腔镜手术机器 人、单孔腔镜手术机器人及自然腔道手术机器人注册审批的企业。 精锋医疗-B(02675)尾盘涨超9%，高见63.75港元，再创上市新高。截至发稿，涨8.87%，报63.2港元， 成交额1.04亿港元。 方正证券认为，精锋医疗全球招股引入多元、全球化重磅基石投资人参与认购，再度掀起腔镜机器人赛 道资本关注热度。我国腔镜手术机器人行业目前手术渗透率仍不足1%、远低于美国的21.9%，市场超 40%份额也仍由达芬奇主导，国产化率提升空间仍较广阔，在国家政策端的持续支持、配置证加速放开 环境下，资本市场对该赛道的关注热度持续高涨。 ...

Core Viewpoint - Shenzhen Precision Medical Technology Co., Ltd. (referred to as "Precision Medical") was listed on the Hong Kong Stock Exchange, closing at HKD 56.6, a rise of 30.90% from its initial offering price of HKD 43.24 [1][4]. Group 1: IPO Details - The total number of shares offered globally was 27,722,200 H-shares, with 2,772,300 shares available for public offering in Hong Kong and 24,949,900 shares for international offering [2]. - The total amount raised from the offering was HKD 1,198.7 million, with net proceeds of HKD 1,116.6 million after deducting estimated listing expenses of HKD 82.1 million [4][6]. Group 2: Use of Proceeds - Approximately 23.0% of the net proceeds will fund research and development for the multi-port surgical robot, 19.0% for the single-port surgical robot, and 20.0% for the commercialization of core products [6]. - Additional allocations include 10.0% for capacity expansion, 8.0% for other products and ongoing research, 10.0% for potential strategic acquisitions or investments in the surgical robot industry, and 10.0% for working capital and general corporate purposes [6]. Group 3: Financial Performance - Precision Medical's revenues for 2023, 2024, and the first half of 2025 were HKD 48.0 million, HKD 160.0 million, and HKD 149.4 million, respectively, with losses of HKD 212.9 million, HKD 218.5 million, and HKD 89.1 million during the same periods [9][10]. - Cumulative losses for the years 2023 to the first half of 2025 totaled HKD 520 million [9]. Group 4: Key Investors - Major cornerstone investors include ADIA, UBS AM Singapore, OrbiMed Genesis, Tencent's Huang River Investment Limited, and several other investment funds [7][8].

本文由 AI算法生成，仅作参考，不涉投资建议，使用风险自担 为其价值削景投卜信仕票。 【1月8日精锋医疗-B首日上市表现亮眼，市值一度达232亿港元】1月8日，国产手术机器人龙头精锋医 疗 - B(2675.HK)首日上市表现出色，盘初一度涨超38%，报60港元，市值一度达232亿港元。其此次IPO 发行价为43.24港元/股，公开发售获1091.94倍认购，国际发售获25.18倍认购。精锋医疗是医疗器械行 业先进手术机器人公司，专注于设计、开发及制造手术机器人。公司有三款不同研发阶段的产品及在研 产品，包括多孔、单孔腔镜手术机器人和自然腔道手术机器人。作为国内第三家上市的手术机器人企 业，精锋医疗此次募资基石投资者阵容豪华。阿布扎比投资局、瑞银资产管理、奥博资本等十余家全球 顶级投资机构，合计认购7500万美元，为其价值前景投下信任票。 本文由 Al 算法生成,仅作参考,不涉投资建议,使用风险自担 和讯财经 <un.cc 和而不同 迅达天下 扫码查看原文 ...

Core Viewpoint - The successful IPO of Precision Medical marks a significant milestone for the company and the domestic high-end medical equipment industry, transitioning from a phase of "following" to "leading" in the surgical robot sector [1][15]. Group 1: Market Response and Performance - Precision Medical's IPO was met with overwhelming demand, achieving a subscription rate of 1,091.94 times during the public offering and 25.18 times in the international placement, with the stock price surging by 39.11% on its debut [1]. - The company's stock continued to rise, reaching HKD 55.7 per share shortly after listing, reflecting strong investor confidence in its growth prospects [1]. Group 2: Industry Landscape - The domestic surgical robot industry is at a pivotal point, shifting focus from obtaining regulatory approvals to scaling production and integrating products into hospital workflows [3]. - The Chinese surgical robot market is projected to reach CNY 102.019 billion by 2033, with a compound annual growth rate (CAGR) of 34.3% from 2024 to 2033 [3]. Group 3: Company Strategy and Innovation - Precision Medical has established a comprehensive business model that integrates product development, market strategy, and clinical ecosystem, creating a "flywheel" effect that drives growth [6][7]. - The company is the first in China to commercialize multi-port, single-port, and natural orifice surgical robots, offering a versatile product matrix that addresses various surgical needs [7]. Group 4: Financial Performance - Precision Medical reported a revenue of CNY 160 million for 2024, a significant increase of 233% year-on-year, with the first half of 2025 nearing CNY 149 million, reflecting a nearly 400% growth compared to the same period last year [8]. - The company maintains a gross margin above 60%, with a gross profit of approximately CNY 93.85 million in the first half of 2025, indicating strong market competitiveness and pricing power [8]. Group 5: Clinical Ecosystem and Long-term Strategy - The company emphasizes the importance of post-sale services, including training and clinical support, to build a robust clinical ecosystem that enhances customer loyalty and creates a sustainable competitive advantage [9]. - Precision Medical aims to evolve from a device manufacturer to an "intelligent surgical solution platform," expanding its offerings to include pre-operative planning, specialized high-end consumables, and post-operative data analysis services [13].

Core Viewpoint - The article highlights the successful IPOs of Zhizhu Technology and Jingfeng Medical, showcasing the effectiveness of the Social Security Zhongguancun Special Fund managed by Junlian Capital in supporting innovative companies in Beijing's tech sector [2][3][4]. Group 1: Zhizhu Technology - Zhizhu Technology officially listed on the Hong Kong Stock Exchange with an IPO price of HKD 116.20 per share, achieving a market capitalization exceeding HKD 500 billion, marking it as the "first stock of global large models" [2]. - The company, founded in 2019, focuses on self-developed large models and has completed eight rounds of financing, raising over CNY 8.3 billion with more than 50 institutional shareholders [3][4]. - Junlian Capital, as the largest institutional investor, provided comprehensive support in strategic planning, talent development, and technology commercialization, contributing to Zhizhu's successful market entry [4]. Group 2: Jingfeng Medical - Jingfeng Medical, established in 2017, specializes in the development, production, and sales of surgical robots, becoming the first in China and the second globally to obtain approvals for multiple types of surgical robots [5]. - Junlian Capital has made three investments in Jingfeng Medical from 2024 to 2025, leveraging its industry resources to support the company's strategic planning and global market expansion [5]. - The company aims to enhance its R&D and production capabilities post-IPO, contributing to the advancement of high-end medical equipment in China [5]. Group 3: Social Security Zhongguancun Special Fund - The Social Security Zhongguancun Special Fund was established in July 2023, with a scale of CNY 5 billion, aimed at providing long-term stable funding for innovative enterprises in Beijing [6][7]. - The fund focuses on early-stage, innovative projects in technology, with a strategy to support companies that can successfully transition from technological achievements to industrialization [7][8]. - By December 2025, the fund had invested in 19 companies across various cutting-edge technology sectors, with a decision amount exceeding CNY 3 billion, driving a total social investment of over CNY 24 billion [8].

Core Viewpoint - The debut of Precision Medical-B (2675.HK) on the Hong Kong Stock Exchange was highly successful, with shares initially rising over 38% to reach HKD 60, resulting in a market capitalization of HKD 23.2 billion [1] Group 1: IPO Performance - Precision Medical's IPO price was set at HKD 43.24 per share, raising a net amount of HKD 1.117 billion [2] - The public offering was oversubscribed by 1,091.94 times, while the international offering saw a 25.18 times subscription [1] Group 2: Company Overview - Precision Medical is a leading company in the surgical robotics sector, focusing on the design, development, and manufacturing of surgical robots [1] - The company has three products at different stages of research and development, including multi-port laparoscopic surgical robots, single-port laparoscopic surgical robots, and natural orifice surgical robots for non-invasive procedures [1] Group 3: Investor Confidence - The cornerstone investors for Precision Medical's IPO include prestigious institutions such as the Abu Dhabi Investment Authority, UBS Asset Management, Obor Capital, and Tencent, collectively contributing USD 75 million [1]

Group 1: Company Highlights - Three new stocks are set to be listed in Hong Kong on January 8, with all showing gains in the dark trading session prior to listing [1][2][3] - AI model developer Zhihui (2513.HK) closed at HKD 123.2, up 6.02% from the IPO price of HKD 116.2, indicating a profit of HKD 700 per lot of 100 shares [1] - Zhihui ranks first among independent general model developers in China and second among all general model developers, with a market share of 6.6% according to Frost & Sullivan [1] - Surgical robot company Jingfeng Medical-B (2675.HK) closed at HKD 60.15, a 39.11% increase from the IPO price of HKD 43.24, yielding a profit of HKD 1,691 per lot [2] - Jingfeng Medical focuses on designing, developing, and manufacturing surgical robots, with products in various stages of research and development [2] - General GPU chip and AI computing solution provider Tianshu Zhixin (9903.HK) closed at HKD 198.2, up 37.07% from the IPO price of HKD 144.6, resulting in a profit of HKD 5,360 per lot [2] - Tianshu Zhixin offers a range of general GPU products and AI computing solutions, targeting various industries including cloud computing and AI model development [2] Group 2: Market Performance - Zhihui's trading volume reached 3.5958 million shares, with a total market capitalization of HKD 54.236 billion [1] - Jingfeng Medical's trading volume was 1.7203 million shares, with a total market capitalization of HKD 23.321 billion [3] - Tianshu Zhixin's trading volume was 0.9513 million shares, with a total market capitalization of HKD 50.406 billion [3]

Core Viewpoint - The leading domestic surgical robot company, Precision Medical (2675.HK), is set to be listed in Hong Kong, with a significant increase in its dark pool trading price, reflecting strong market interest and investor confidence [1] Group 1: Company Overview - Precision Medical is an advanced surgical robot company in the medical device industry, focusing on the design, development, and manufacturing of surgical robots [1] - The company has three models of products at different stages of research and development, targeting the market potential of surgical robots, including multi-port laparoscopic surgical robots, single-port laparoscopic surgical robots, and natural orifice surgical robots for non-invasive procedures [1] Group 2: IPO Details - The IPO involves a global offering of 27.72 million shares, priced at HKD 43.24 per share [1] - As the third surgical robot enterprise listed domestically, Precision Medical has attracted a prestigious lineup of cornerstone investors, including the Abu Dhabi Investment Authority, UBS Asset Management, Obor Capital, and Tencent, with a total subscription amount of USD 75 million [1]

Company Overview - Jingfeng Medical, established in 2017, focuses on the research and development of surgical robots, aiming to design, develop, and manufacture surgical robots. The company currently has three products at different stages of development, including multi-port laparoscopic surgical robots, single-port laparoscopic surgical robots, and natural orifice surgical robots [8][21]. Product Pipeline - The product lineup includes two core products: Jingfeng's multi-port laparoscopic surgical robot and single-port laparoscopic surgical robot. The company has developed a comprehensive technology platform with seven core proprietary technology modules [8][24]. - The MP1000 is the first laparoscopic surgical robot approved for multiple surgical specialties, while the SP1000 is the first single-port laparoscopic surgical robot approved by the National Medical Products Administration (NMPA) for gynecological surgeries [21][22]. Market Size - The global surgical robot market is projected to grow significantly, with a compound annual growth rate (CAGR) of 18.9% from 2019 to 2024, 12.0% from 2024 to 2030, and 22.4% from 2030 to 2033. The market size is expected to reach approximately $84.19 billion by 2033 [15][19]. Industry Position - Jingfeng Medical has achieved significant milestones, including obtaining NMPA approval for the MP1000 in December 2022 and expanding its application range to gynecology, general surgery, and thoracic surgery by August 2023. The company has also received approval for the upgraded MP1000 Plus model in October 2023 [21][22]. - As of the latest available data, over 12,000 robotic-assisted clinical surgeries in China have been performed using the company's multi-port laparoscopic surgical robot, and over 2,000 surgeries using the single-port laparoscopic surgical robot [23][24]. Financial Data - The total revenue for the company is projected to be 1.60 billion RMB in 2023, with forecasts of 1.49 billion RMB in 2024 and 0.48 billion RMB by June 30, 2025. The financial figures indicate a growing trend in revenue generation [37][38].