Group 1: TeBao Bio - TeBao Bio is focusing on functional cure for hepatitis B, aiming for a combination of different mechanism drugs with interferon and nucleos(t)ide analogs for optimization [1] - The company is expanding its hepatitis B treatment network and aims to provide comprehensive management throughout the disease course [1] - Collaboration with Ligos is underway to explore reinfection control after clearing infected cells, and acquisition of JiuTian Bio is intended to leverage its gene therapy platform for more precise solutions [1] - New technologies like siRNA have entered clinical application stages, with future strategies focusing on optimizing combination therapies [1] - Increased penetration of interferon relies on enhanced disease awareness and improved management of adverse reactions [1] Group 2: JingSheng Machinery - JingSheng Machinery achieved revenue of 5.799 billion and net profit of 639 million in the first half of 2025 [2] - The photovoltaic business has declined due to industry cyclical adjustments, while the semiconductor business has grown due to accelerated domestic production [2] - The company has successfully delivered 12-inch silicon epitaxy equipment to leading domestic clients and is promoting carbon silicon equipment effectively [2] - The sapphire materials business has seen year-on-year growth, and semiconductor consumables have achieved domestic substitution for quartz crucibles, leading in market share [2] - Clients include well-known companies such as TCL Zhonghuan and Changdian Technology, with strict credit management to reduce order fulfillment risks [2]

Core Viewpoint - The strategic cooperation among Jing Sheng Mechanical, Zhejiang University Integrated Circuit Institute, and Zhejiang Chuangxin Integrated Circuit Co., aims to enhance the development of the integrated circuit industry in China through deep integration of production, education, and research [1][2]. Group 1: Strategic Cooperation - A strategic cooperation framework agreement was signed on June 24, focusing on establishing a joint research center for advanced integrated circuit equipment and technology innovation [1]. - The collaboration will involve joint research on 12-inch silicon epitaxy equipment and process development, as well as the establishment of a high-level talent cultivation mechanism [1][2]. - The partnership aims to create an innovation closed loop from basic research to industrial application, enhancing the core competitiveness of China's integrated circuit industry [1][2]. Group 2: Institutional Background - Jing Sheng Mechanical, founded in 2006 and listed in 2012, is a leading domestic enterprise in the semiconductor materials equipment sector, focusing on silicon, silicon carbide, and sapphire materials [2]. - The Zhejiang University Integrated Circuit Institute was established in December 2023, emphasizing industry-education integration and aiming to cultivate leading talents and tackle key technologies [2]. - The Zhejiang Integrated Circuit Innovation Platform, co-built by the government and Zhejiang University, is the only public service platform in China for 12-inch integrated circuit technology innovation [2]. Group 3: Industry Collaboration - Jing Sheng Mechanical is actively collaborating with various parties in the integrated circuit field, recently forming a joint innovation entity for large silicon wafer polishing technology in the Yangtze River Delta region [3]. - The company aims to enhance the domestic production rate of equipment and core components in the integrated circuit sector, projecting a potential cost reduction of approximately 20% [3].