NMN行业 丨研究报告 摘要： NMN（β-烟酰胺单核苷酸）作为人体内 NAD （烟酰胺腺嘌呤二核苷酸）的直接前体，凭借提升 NAD 水平 以实现抗衰老、修复DNA、调节代谢等核心功能，正成为全球健康产业的焦点。从科学研究到商业化落地， NMN行业历经数十年探索，已从实验室走向大众视野。 2025年，NMN全球合规化进程迈入实质性加速阶段。随着12月美国与澳大利亚相继明确为其背书，美国、 日本、加拿大、澳大利亚等全球主要市场均已通过不同监管路径确认NMN的合法地位。这标志着国际监管 共识已从早期的安全评估阶段，转向如何在清晰的安全边界内推动其规范应用的新阶段。 在中国，目前NMN尚未获得药品、保健食品等许可，行业虽面临政策限制，但已显现积极信号，其作为化 妆品新原料的备案已于2022年通过，为行业规范化发展奠定基础。2025年4月，国家市场监督管理总局已 将NMN列为保健食品审批受理名单中，未来政策开放值得期待。同时，随着人口老龄化加速催生的 "银发经 济"、年轻群体 "抗初老" 需求爆发，叠加全酶法等合成技术的突破带来成本下降与纯度提升，NMN 的市场 潜力正持续释放。 当前，中国已成为全球最大的NMN原料 ...

NMN行业 丨研究报告 摘要： NMN（β-烟酰胺单核苷酸）作为人体内 NAD （烟酰胺腺嘌呤二核苷酸）的直接前体，凭借提升 NAD 水平 以实现抗衰老、修复DNA、调节代谢等核心功能，正成为全球健康产业的焦点。从科学研究到商业化落地， NMN行业历经数十年探索，已从实验室走向大众视野。 2025年，NMN全球合规化进程迈入实质性加速阶段。随着12月美国与澳大利亚相继明确为其背书，美国、 日本、加拿大、澳大利亚等全球主要市场均已通过不同监管路径确认NMN的合法地位。这标志着国际监管 共识已从早期的安全评估阶段，转向如何在清晰的安全边界内推动其规范应用的新阶段。 在中国，目前NMN尚未获得药品、保健食品等许可，行业虽面临政策限制，但已显现积极信号，其作为化 妆品新原料的备案已于2022年通过，为行业规范化发展奠定基础。2025年4月，国家市场监督管理总局已 将NMN列为保健食品审批受理名单中，未来政策开放值得期待。同时，随着人口老龄化加速催生的 "银发经 济"、年轻群体 "抗初老" 需求爆发，叠加全酶法等合成技术的突破带来成本下降与纯度提升，NMN 的市场 潜力正持续释放。 当前，中国已成为全球最大的NMN原料 ...

本报告系统梳理中国NMN行业的发展历程、驱动因素、市场现状与未来趋势，剖析政策、企业、市场层面 的关键突破点，为行业参与者和关注者提供兼具科学性与前瞻性的参考，助力把握行业发展的核心逻辑与机 遇。 NMN行业 丨研究报告 摘要： NMN（β-烟酰胺单核苷酸）作为人体内 NAD （烟酰胺腺嘌呤二核苷酸）的直接前体，凭借提升 NAD 水平 以实现抗衰老、修复DNA、调节代谢等核心功能，正成为全球健康产业的焦点。从科学研究到商业化落地， NMN行业历经数十年探索，已从实验室走向大众视野。 2025年，NMN全球合规化进程迈入实质性加速阶段。随着12月美国与澳大利亚相继明确为其背书，美国、 日本、加拿大、澳大利亚等全球主要市场均已通过不同监管路径确认NMN的合法地位。这标志着国际监管 共识已从早期的安全评估阶段，转向如何在清晰的安全边界内推动其规范应用的新阶段。 在中国，目前NMN尚未获得药品、保健食品等许可，行业虽面临政策限制，但已显现积极信号，其作为化 妆品新原料的备案已于2022年通过，为行业规范化发展奠定基础。2025年4月，国家市场监督管理总局已 将NMN列为保健食品审批受理名单中，未来政策开放值得期待。同 ...

Core Viewpoint - The company, Yabao Chemical, clarifies that it does not produce niacinamide and focuses on CDMO services for innovative pharmaceuticals and agricultural intermediates [1] Group 1: Business Operations - The company's NMN-related business is operating normally, organized by its overseas subsidiary and produced by compliant foreign manufacturers [1] - Products are sold through cross-border e-commerce platforms such as JD International and Pinduoduo, with product information available on these platforms [1]

Core Viewpoint - The company, Yabont Chemical (300261.SZ), clarifies that it does not produce niacinamide and focuses on CDMO services for innovative pharmaceuticals and agricultural intermediates [1] Group 1 - The company's NMN-related business is operating normally [1] - The overseas subsidiary organizes and commissions compliant foreign manufacturers for production [1] - Products are sold through cross-border e-commerce platforms such as JD International and Pinduoduo [1]

Core Viewpoint - The company, Yabao Chemical (300261.SZ), clarifies that it does not produce niacinamide and focuses on CDMO services for innovative pharmaceuticals and agricultural intermediates [1] Group 1: Business Operations - The company's NMN-related business is operating normally, organized by its overseas subsidiary [1] - Production is entrusted to compliant overseas manufacturers [1] - Sales are conducted through cross-border e-commerce platforms such as JD International and Pinduoduo [1]

香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或完整性亦 不作任何陳述，並明確表示對因本申請版本的全部或任何部分內容而引致或因依賴本申請版本的全部或任何部 分內容而引致的任何損失不負任何責任。 Suzhou Leadsynbio Technology Co., Ltd. 蘇州引航生物科技股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警 告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）與證券及期貨事務監察委員會（「證監會」） 的要求而刊發，僅用作提供資料予香港公眾人士。 本申請版本為草擬本，其所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即 代表 閣下知悉、接納並向本公司、其獨家保薦人、整體協調人、顧問或包銷團成員表示同意： 本公司招股章程根據香港法例第32章公司（清盤及雜項條文）條例呈交香港公司註冊處處長註冊前， 本公司不會向香港公眾人士提出要約或邀請。倘於適當時候向香港公眾人士提出要約或邀請， 有意投資者務請僅依據呈交香港公司註冊處處長註冊的本公司招股章程作出投資決定；招股章 程的文本將於發售期內向公眾派發。 ...

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 Suzhou Leadsynbio Technology Co., Ltd. 蘇州引航生物科技股份有限公司 (the "Company") (A joint stock company incorporated in the Pe ...

Core Viewpoint - NMN (β-Nicotinamide Mononucleotide) is gaining attention in the global health industry for its potential in anti-aging, DNA repair, and metabolic regulation, with significant advancements in regulatory approval and market potential expected by 2025 [1][2]. Industry Development - The NMN industry has evolved from laboratory research to commercial application, with major markets like the US, Japan, Canada, and Australia recognizing its legal status through various regulatory pathways [1][2]. - China is currently the largest producer of NMN raw materials, with leading companies building competitive barriers through technological innovation and industry chain layout [2]. NMN Definition and Function - NMN is a direct precursor of NAD+ (Nicotinamide Adenine Dinucleotide), crucial for delaying aging and enhancing physiological functions [3][4]. - Supplementing NMN can quickly elevate NAD levels in the body, playing a vital role in anti-aging, cardiovascular health, and metabolic improvement [4]. NAD+ Synthesis Pathways - NMN supplementation shows significant advantages in NAD+ synthesis pathways compared to other precursors, with the highest conversion efficiency and no known adverse reactions [6][7]. Natural Sources of NMN - Natural food sources of NMN are limited, with NMN supplements providing approximately 300 times the intake efficiency compared to dietary sources [8]. NMN Synthesis Technology - The synthesis of NMN has transitioned from chemical methods to fully enzymatic methods, focusing on high purity, safety, and environmental sustainability [10][11]. - Leading companies are innovating in full enzymatic synthesis technology, establishing competitive advantages through patent applications [12]. Industry Development Drivers: Policy - The regulatory environment for NMN is evolving, with significant progress in China towards legalization as a health food, following the approval of NMN as a cosmetic ingredient [17][18]. Industry Development Drivers: Demand - The aging population and increasing anti-aging awareness among younger generations are driving demand for NMN products, creating a substantial market opportunity [19]. Industry Development Drivers: Technology - Innovations in synthesis, quality testing, and delivery methods are driving the NMN industry towards scale, standardization, and efficiency [21][22]. Application Areas of NMN - NMN is primarily used in health supplements and cosmetics, with potential expansion into pet nutrition, medical health, and agricultural technology [24][28]. Market Size and Growth - The NMN market in China is expected to exceed 3 billion yuan by 2025, driven by policy relaxation and new applications in various sectors [28]. Sales Channels - NMN products are primarily sold through cross-border e-commerce and private channels, with cross-border platforms accounting for 60%-70% of market share [35]. Certification System - The "blue hat" certification for health foods represents the highest standard in the NMN industry in China, indicating product safety and compliance [37]. Challenges Facing the NMN Industry - Despite positive regulatory signals, the industry faces challenges such as exaggerated claims, lack of consumer awareness, and the need for technological advancements [61][63].

NMN行业 丨研究报告 摘要： NMN（β-烟酰胺单核苷酸）作为人体内 NAD （烟酰胺腺嘌呤二核苷酸）的直接前体，凭借提升 NAD 水平 以实现抗衰老、修复DNA、调节代谢等核心功能，正成为全球健康产业的焦点。从科学研究到商业化落地， NMN行业历经数十年探索，已从实验室走向大众视野。 当前，中国已成为全球最大的NMN原料生产国，头部企业通过技术创新与产业链布局构建竞争壁垒，而政 策端的合规化进程、市场端的科学教育则是行业突破的关键。未来，随着临床数据积累与政策逐步放开， NMN 有望从保健品、化妆品向医疗健康、宠物营养、农业科技等更广阔领域渗透，为人类健康与衰老干预 带来新的可能。 本报告系统梳理中国NMN行业的发展历程、驱动因素、市场现状与未来趋势，剖析政策、企业、市场层面 的关键突破点，为行业参与者和关注者提供兼具科学性与前瞻性的参考，助力把握行业发展的核心逻辑与机 遇。 NMN的定义与功能 NMN是人体内重要辅酶NAD + 的直接前体，对于延缓衰老及人体生理机能提升具有 重要作用 NMN全称β-烟酰胺单核苷酸（英文名Beta-Nicotinamide Mononucleotide，简称NMN），是维 ...