Core Insights - The biopharmaceutical industry is experiencing an upward trend, with companies showcasing their R&D progress and global market strategies during the recent performance briefing [1] - Companies are optimistic about their development in the second half of the year, driven by high R&D investments and technological advancements [1][4] R&D Progress - Companies like Sailun Biopharma and Haohai Biological are making steady progress in product development and market expansion [1] - Sailun Biopharma plans to introduce new projects, including broad-spectrum anti-snake venom antibodies and recombinant snake venom coagulants by mid-2025 [1][2] - Haohai Biological has several innovative products in the pipeline, including a pain-free cross-linked hyaluronic acid gel for aesthetic medicine, which has entered the registration phase [2] Market Trends - The demand for algal oil DHA products is increasing, driven by the replacement of old national standards for infant formula and rising maternal and infant consumption [2][3] - Jia Bi You's sales of algal oil DHA are growing significantly, with a faster transition from fish oil DHA among major clients [3] Industry Outlook - Companies express confidence in the industry's performance in the second half of the year, with expectations of continued growth in the GLP-1 drug market due to its effectiveness in diabetes and weight loss [4] - Nawei Technology anticipates significant market expansion for GLP-1 and other peptide drugs, projecting a revenue increase of approximately 108% in the first half of 2025 [4] Innovation and Global Expansion - The demand for drug molecular building blocks is recovering, with companies like Bid Pharma expanding their compound libraries to cover mainstream targets [5] - Companies are leveraging AI in synthetic biology to enhance R&D efficiency and reduce costs [5] - Xuan Tai Pharmaceutical is pursuing a diversified market strategy, collaborating with Kalbe Farma in Indonesia to penetrate Southeast Asian markets [6]

Core Viewpoint - The company Jia Bi You announced the termination of its acquisition of 63.21% equity in Ou Yi Biological after nearly 10 months of planning, citing changes in the external market environment as the reason for this cautious decision [2][6]. Summary by Sections Termination Reasons - Jia Bi You's latest announcement indicated that the termination of the acquisition was due to the failure to reach an agreement on core transaction terms, and the company has withdrawn its application documents [4][6]. Background of the Acquisition - Since October 29 of the previous year, Jia Bi You had been planning a major asset restructuring, initially aiming to acquire 65% of Ou Yi Biological's equity. This was later adjusted to 63.21% and involved a reduction in the number of transaction parties from 14 to 13 [7][8]. - The adjusted proposal included issuing 29.77 million shares at a price of 19.29 yuan per share, totaling a transaction price of 830.6 million yuan, which would have resulted in a significant goodwill addition of 721 million yuan, accounting for 43.3% of total assets and 47.21% of net assets as of September 30, 2024 [7][8]. Financial Performance - In the first half of the year, Jia Bi You reported a revenue of 307 million yuan, representing a year-on-year increase of 17.6%, and a net profit attributable to shareholders of 108 million yuan, reflecting a growth of 59.01% [8].

Core Viewpoint - The company Jabiou has decided to terminate its plan to acquire 63.21% of Ouyi Biological after approximately 10 months of planning, citing changes in the external market environment as the reason for this cautious decision [1][3]. Group 1: Acquisition Details - The acquisition was initially announced on October 29, leading to a stock price increase of nearly 40% by August 30, with the latest stock price at 28.82 yuan per share and a total market capitalization of 4.9 billion yuan [1]. - The company had adjusted its acquisition plan from 65% to 63.21% and reduced the number of investors involved from 14 to 13, with a total transaction price of 830.6 million yuan, which included 574.3 million yuan in stock and 256.3 million yuan in cash [5][6]. - The acquisition was expected to add 721 million yuan in goodwill, representing 43.3% of the company's total assets and 47.21% of its net assets as of September 30, 2024 [6]. Group 2: Financial Performance - In the first half of the year, the company reported a revenue of 307 million yuan, reflecting a year-on-year growth of 17.6%, while the net profit attributable to shareholders increased by 59.01% to 108 million yuan [7]. Group 3: Business Operations - The company stated that the termination of the acquisition would not adversely affect its daily operations or harm the interests of shareholders, particularly minority shareholders [3]. - Jabiou is recognized as a pioneer in the domestic market for producing polyunsaturated fatty acids and fat-soluble nutrients through microbial synthesis, and it has successfully commercialized products like algal oil DHA and SA [6].

Core Viewpoint - Jia Bi You announced the termination of the acquisition of 63.21% equity in Ou Yi Biological after approximately 10 months of planning, citing changes in the external market environment as the reason for this cautious decision [2][6]. Group 1: Termination Reasons - The company stated that it did not reach an agreement on the core terms of the transaction, leading to the decision to terminate the acquisition and withdraw the application documents [4]. - The termination was made after thorough communication and consultation with relevant parties, and there are no liabilities for breach of contract for the listed company or related parties [6]. Group 2: Transaction Background - Since the announcement of the major asset restructuring on October 29 last year, Jia Bi You's stock resumed trading on November 12 and recorded a 20% increase, with a nearly 40% rise in stock price by August 30, reaching 28.82 yuan per share and a total market value of 4.9 billion yuan [2][6]. - The initial plan was to acquire 65% of Ou Yi Biological's equity, which was later adjusted to 63.21%, with the number of transaction parties reduced from 14 to 13 [9]. - The adjusted plan included issuing 29.77 million shares at a price of 19.29 yuan per share, totaling 5.743 billion yuan in share payment and 2.563 billion yuan in cash, amounting to a total transaction price of 8.306 billion yuan [9][10]. Group 3: Financial Performance - In the first half of the year, Jia Bi You achieved operating revenue of 307 million yuan, a year-on-year increase of 17.6%, and a net profit attributable to shareholders of 108 million yuan, up 59.01% year-on-year [11].