公司战略布局 - 公司围绕新能源材料 生物材料 电子材料 其他特种材料等重点领域进行布局 [1] - 相关领域均具有良好的发展前景 [1] - 旨在打造在多个新材料领域领先的"专精特新"产业集群 [1] - 建设优秀的新材料平台型企业 [1]

融资概况 - 北京中关村水木医疗科技有限公司完成B轮数亿元战略融资 由弘毅投资和国聚创投联合领投 国生资本和广州产投资本参与投资[1] - 所融资金将用于拓展医疗器械一体化服务平台并加强全国服务网络建设[1] 公司背景与定位 - 公司成立于2017年 总部位于北京亦庄经济技术开发区 致力于解决创新医疗器械企业产业化"最后一公里"难题[1] - 公司是中国医疗器械行业协会临床试验分会理事长单位 中国医学装备协会应用评价分会常务副会长单位以及北京药学会医疗器械专委会主委单位[1] - 公司打造独特的全产业链模式 覆盖从研发到上市的关键环节 业务范围包括有源医疗器械 大型放疗设备 医用机器人 AI医疗器械 生物材料 IVD 医美和数字疗法等领域[1][3] 战略布局与区域影响 - 公司将完成京津冀 长三角 珠三角及西南区域的全国范围辐射 推动地区产业链完善和产业聚集发展[1] - 落地成都高新区将填补成都医疗器械全流程专业服务平台空白 吸引更多优质企业落地[2] - 在广州落地将推动检验检测配套和专业服务完善 补强医疗器械研发关键环节 助力粤港澳大湾区高端医疗器械产业聚集区建设[2][3] 投资方观点 - 弘毅投资看好公司全产业链一体化服务模式和业务团队 认为其能拓展市场边界并赋能产业链[2] - 国聚创投认为公司服务模式将推动广州及大湾区医疗器械产业创新发展和集聚发展[2] - 国生资本认可公司专业团队和质量管理体系 强调其竞争壁垒和产业链补强作用[2] - 广州产投资本指出生物医药与健康产业是广州市五大关键产业 公司落地将完善高端医疗器械产业链[3]

项目投资 - 内蒙古开鲁县与安徽丰原集团签订绿色零碳生物制造产业基地项目合作协议 总投资155亿元[1] - 项目涵盖氨基酸系列产品 生物材料 生物能源三大版块[1] - 项目全部投产后预计年销售收入约260亿元 利税约30亿元 安置就业约3500人[1] 公司业务 - 丰原集团主要从事生物化工 生物制药 生物材料 生物能源的研发及成果产业化[1] - 公司为国家创新型高新技术企业 掌握以淀粉糖为原料的第一代生物制造技术[1] - 公司掌握以秸秆制糖为原料的第二代生物制造技术[1]

项目投资 - 丰原集团与内蒙古开鲁县签订绿色零碳生物制造产业基地项目 总投资155亿元[2] - 项目涵盖氨基酸系列产品 生物材料 生物能源三大板块[2] - 投产后预计年销售收入260亿元 利税30亿元 安置就业3500人[2] 技术优势 - 公司掌握以淀粉糖为原料的第一代生物制造技术[4] - 掌握以秸秆制糖为原料的第二代生物制造技术[4] - 拥有四大创新平台技术：秸秆纤维素制糖联产黄腐酸技术 三大生物基材料平台技术 三大生物能源制造技术 生物基材料下游开发应用技术[4] 战略布局 - 项目位于内蒙古通辽市 是构建现代化产业体系的关键环节[4] - 合作将增强开鲁县在绿色制造和生物经济领域的竞争力[4] - 项目完美契合国家"双碳"目标[4] 产品体系 - 公司重点发展生物化学品 生物材料 生物能源 生物医药四大类生物基绿色产品[4] - 生物基材料应用涵盖生物纤维 生物塑料 绿色建材 油漆涂料 胶粘剂 生物皮革 发泡材料 弹性体等领域[4]

[角色] 你是一名拥有10年投资银行从业经验的资深研究分析师，专门负责上市公司、行业研究。你擅长解读公司财报、行业动态、宏观市场，发现潜在的投资机会和风险。 [任务] 你需要仔细研读一份上市公司或者行业研究的电话会议记录，请阅读全文，一步一步思考，总结全文列出关键要点，不要错过任何信息，包括： * 纪要涉及的行业或者公司 * 纪要提到的核心观点和论据 * 其他重要但是可能被忽略的内容 如果没有相关内容，请跳过这一部分，进行其他的部分。 总结时要全面、详细、尽可能覆盖全部的内容、不遗漏重点,并根据上述方面对内容进行分组。 要引用原文数字数据和百分比变化,注意单位换算(billion=十亿,million=百万,thousand=千)。 [注意事项] 1) 使用中文,不要出现句号 2) 采用markdown格式 3) 不使用第一人称,以"公司"、"行业"代替 4) 只输出关于公司和行业的内容 5) 在每一个关键点后用[序号]形式引用原文档id 6) 一个[序号]只应该包含一个数字，不能包含多个，如果多个就用[序号][序号]分开写，不要写成 [序号-序号] 7) 每个关键要点后边的 [序号] 不要超过 3 个 Content: --------- <doc id='1'>Rayonier Advanced Materials (RYAM) FY Conference August 26, 2025 08:55 AM ET Speaker0 Good morning. My name is William Schellmeyer, and I'm an account manager here at Three Part Advisors. I wanna thank you all for joining us for our sixteenth annual Midwest Ideas Conference. To start things off today, we have Ranir Advanced Materials, which trades on the New York Stock Exchange under the ticker symbol r y a m. Representing the company today is their president and CEO, Delisle Bloomquist.</doc> <doc id='2'>Speaker1 Alright. Well, good morning, everybody. Thank you for joining us this morning. It's great to see that we got a number of folks that wanna hear a little bit about Brian and about what we're trying to do. Just as kind of a start, much of the material that I'm going to go over today was actually part of our second quarter analyst call about, ten days ago, where we took the opportunity to remind our investors about our long term strategy, about what we were trying to do given the uncertain times.</doc> <doc id='3'>We want to make sure that people understood that our strategy still was intact, and we were still progressing and pursuing the strategy as we had outlined. So there's a great strategic document. Shows what we're trying to do with the project or with the company. I'm gonna go over just a lot of the highlights on the slides. If you wanna get into more of the detail and understand a little bit more about some of the specific projects that we're pursuing, I would invite you to go to our website and listen to the analyst call, and there should be there would be much more detail about, what we're trying to do.</doc> <doc id='4'>So with that, get past all that. One of the mistakes that a lot of people make about Ryan is they think that we're a pulp and paper company. We've been around for about a hundred years, and people confuse us that we're in the the wood business and that we're from the wood, we we generate pulp and paper. And really, that is not the case at all. What we do is we produce natural cellulosic fibers that are used in a myriad of different applications, including some cellular specialty products, particularly around the ethers, acetate, and a number of other other cellular specialty or CS applications.</doc> <doc id='5'>We also make a number of niche commodity or high purity commodity products, principally focused on fluff applications, which go into absorptive products, and we'll talk about that a little bit later. We also are merging into our biomaterials, which we think is offers significant growth potential with very attractive returns to our shareholders. Then we got a couple of core noncore businesses, our paperboard business and our high yield pulp business, which are produced out of our Temiscaming Quebec operations. Each of those have unique heuristics that give them some comparatives advantage. Paperboard, we're the only three ply paperboard producer in 极North America.</doc> <doc id='6'>And we have a high yield pulp product that we ship around the world. It was primarily based off of a maple fiber, which gives it unique surface area to weight ratios that are particularly attractive for for those who ship their product long distances.极 We operate four facilities, two of them in The United States, one in Canada, the Temiscaming operation, and then one in France. And our strategy is really focused around, adding value through our core business, which is this high purity specialty business, by reducing its cost structure and leveraging what we think are very advantageous market dynamics, which I'll cover, but also growing the business through biomaterials, which, again, leverages off of, again, very unique comparative points that we have, and we believe it will add significant shareholder value. So our products or at least the products that you would be familiar with, they are used by most everyone, every day, and everywhere.</doc> <doc id='7'>Like I said, we've极 in the business for a hundred years, so our products have got around the world in in in most most countries. If you look at the left, those are our cellular specialty products. The acetates, the ethers, you know, what we call our other CS products. And you can look at the different end uses that it goes into, whether it's food, pharma, natural plastics, tire cord casings, like sausage casings, nitrous cellulose, which goes into furniture lacquers, but also used for munitions. All of those requires exact specifications for our customers.</doc> <doc id='8'>On the right, the top two, fluff. Again, a core one of our core products goes into absorptive products around personal hygiene, adult incontinence, baby diapers, feminine products. Viscose, and lyocell goes into textiles. Think of rayon Rayon, Ranir. We invented invented that product back in the nineteen thirties with DuPont.</doc> <doc id='9'>So we're in the textile business. And then you got the paperboard and high yield pulp businesses, which are being driven by strong megatrends away from oil based packaging, plastic packaging, more to sustainable packaging. It's and so we see good good growth characteristics in that business. And then finally, biomaterials, that's where we wanna grow the business, and we feel that we've got a a strong competitive advantage in. 2025, a very challenging year for us given all the uncertainty and displacement caused by, I'll call it the tariff wars that we've seen since January 20.</doc> <doc id='10'>We export 70% of our production. So it's no surprise or shouldn't be a surprise that we would be impacted in some way due to that due to those tariffs. The EBITDA wins that we faced, we estimate around $5,960,000,000 dollars EBITDA for this year. We believe that those issues are nonrecurring and are largely behind us. So as we enter into 2026, we believe that our normalized EBITDA going into 2026 be around $200,000,000 when you take account some of these issues.</doc> <doc id='11'>Just to cover off a couple of them. Tariffs, obviously, a big a big talking point. Total about $21,000,000 impact. Seven of it would be I would call nonrecurring issues be that are behind. It's just due to people and our customers not completely understanding what the impact was gonna be to them.</极 <doc id='12'>But we didn't lose share. We didn't lose price once, they got got their footing. We started seeing the orders starting to normalize. 14,000,000 is tied to our customers, sales to our US based customers where their products were impacted by the tariffs as well. And we believe in time, given the strong demand supply dynamics of the business, that we will recoup much that $14,000,000.</doc> <doc id='13'>But for our outlook and our projections, we've excluded that from from from those those outlook from those projections. Weaker US dollars impacted us, roughly $8,000,000. We're particularly exposed to the Canadian dollar given our assets up in Canada, but also to the EU given our French assets. We're seeing some of that come back to us, until Friday when they when the Fed announced their their inclination for price or for a rate decrease. But, anyway, we believe that'll that'll come back.</doc> <doc id='14'>We had some operational challenges in the first half of the year. Just giving a couple examples. Our facility in Tardis, we had three strikes, during the year, first half, lost about twenty days of production. As a result of that, that obviously had a significant impact. Georgia, our largest facility, is located, had snow, in January.</doc> <doc id='15'>Severe weather impact the operations. We're not prepared for the kind of snow that we saw in January that had some impact to production, primarily about employees getting to the plant, really was our bigger issue. And on top of that, we have seen softness paperboard in our high yield pulp business. New supplies come online. Some of the disruption we're seeing in China called the involution disruption, we're we're not immune to that.</doc> <doc id='16'>We're seeing that in in high yield pulp as well. Important point to make, though, is we believe that 2025 is our trough year and Q2 was our trough quarter. And we believe that things as things normalize as we enter 2026, we'll be back onto the growth growth track that we were on. So if I look forward and look at the next two years, we have very definitive plans to grow our EBITDA through a number of different actions. So we'll just quickly lay out the plan.</doc> <doc id='17'>We're gonna divest of our noncore business, paperboard and high yield pulp business. We plan to remarket that, in 2026, proceeds of which will be used to pay down pay down debt. The cellular specialties business, as I mentioned, is a highly attractive market with very strong supply demand fundamentals that'll that allow us and get and gives us pricing power in that business. We have a detailed plan to expand our profit margins by lowering cost production on a sustained basis, and I'll talk about that in some depth a little later. We, Ryan, given that we're the largest player in this business and the only player with multiple facilities, we believe controls most of the excess capacity in the business.</doc> <doc id='18'>And so as the business grows or as the demand grows, we believe that, that will help us offset some of our commodity exposure and replace that with the new demand in cellulose specialties at a much higher profit profit margin. Biomaterials is an exceptional growth opportunity for us to recycle capital into high return projects that we we believe will commit create tremendous shareholder value. And we believe if we got a balance sheet that'll allow us to fund that growth without any shareholder dilution. And we believe because极 all these opportunities and because of the strong position that we hold that we believe our current share price does not fully reflect the intrinsic value of our current assets as well as the earning potential from from our growth strategy.</doc> <doc id='19'>Speaker0 And Speaker1 I believe I'll convince you of that as we go through the presentation. So talk quickly about the industry dynamics within our core business as well as what we believe is our sustainable comparative advantage. As I mentioned, Ryan is the leading producer of the cellular specialties. Very highly specialized products. And our products are known for its purity and its product functionality.</doc> <doc id='20'>Our customers have been using our products, which are very bespoke to their customized needs for not just decades, but in the case of a couple of customers, almost a hundred years, which test is a testament to the stickiness of our customers to the products that we produce, to the and their requirement for the purity of the products that we provide. So very high switching costs that our customers have and as a result, provides for the lack of lack of alternatives for our products. You look at industry. The industry has gone through significant consolidation and primarily rationalization over the last, let's say, five years, including the suspension of our operate our HPC operations up in Canada last year. So where that puts the industry today is that the three largest players, ourselves, Bracel, and Beauregard, control about 80% of the market share.</doc> <doc id='21'>And the industry capacity utilization now sits near 90%, and we don't expect that there'll be any greenfield expansions or brownfield. We believe that the the margins have to get get higher to justify either one of those, significantly higher. And any capacity creep from debottlenecking, we believe, will be easily absorbed by market growth. As a result, analysts who cover our space are projecting a four to 6% price increase on a sustained basis, which if happens, will outpace our all in cost inflation at Ryan. I mentioned the the tariffs and the uncertainty that's caused and the disruption, but one of the silver linings to that is that it's underscored this market tightness and the lack of alternatives for for our company for our products.</doc> <doc id='22'>A good example of this is back in April and May. China raised their tariffs from whatever it was to a 125% in retaliation for the tariffs that were that were launched, by the US administration. That would have been a big hit to us because we ship a lot of our product to China. But what happened was because of the lack of substitute, the lack of quality product to replace us, China published a list of products that would be exempt from those tariffs, and our product was on that list. So just again, just reemphasizing that there is, the stickiness of our products, the uniqueness of our products, and the general market tightness within the industry.</doc> <doc id='23'>The demand for our products, about half of it is stable, half of it's cyclical. And I would say that in the cyclical sectors like European construction and industrials have been severely depressed for for a number of years now and believe that that those opportunities actually those are actually opportunities that will provide upside to our our our business model and our projections going forward. Talked about cost reduction opportunities. We're obviously focused on making ourselves as competitive long term as possible. We're focused on three areas.</doc> <doc id='24'>Labor productivity, so we're investing in automation at our facilities efficiencies, think of using less energy per ton of production or less of material input like our chemicals or our wood per ton of product And then improving reliability, be much more predictive about maintenance needs within the plant. We have a very robust pipeline, multi years of opportunities that will provide that provide significant return on investment and极 our cost structures materially. Just for '26 alone, with for an investment of $24,000,000 that we're making this year, that will drive about a $30,000,000 improvement for 2026. And we believe that we have a number of years of opportunities of similar returns. As I stated earlier, we at Ryan believe that we own most of the excess capacity.</doc> <doc id='25'>That gives us the pricing power. And that also provides us a unique puts us in a unique position to capture market share as demand grows. If you look at the analysts that cover our business in the industry, they expect that demand will grow about 80,000 tons over the next couple of years. And from that, just capturing our market share, our current market share of极, we believe that we would grow our EBITDA by about $30,000,000 as a result. But we believe that's very conservative again because we believe we own most of the excess capacity.</doc> <doc id='26'>Some of the upside that's not in that projection would include things like going back to what's what's gone on in Europe and industrials and in construction for the past couple years. We believe that business is in its is is in its trough. It's we're expecting it to to grow out of that trough. If it happens to grow faster, we have the capacity</doc> <doc id='27'>available to capture that with our France facility. If we were to fill up that excess capacity, we believe that we would generate another 15,000,000 tons in value as we replace commodity business with the specialty business.</doc> <doc id='28'>And then finally, as I mentioned, we are one of the leading producers of what's called the nitrocellulose for munitions and explosives and the rising global defense spending that that's happening as people as countries build their stockpiles would also provide additional upside. Biomaterials and the high growth potential that we have there, just to take a step back. When we bring wood in from into the plants, we're we're harvesting wood off a working forest. Don't think old growth, they think of farms, tree farms. We're harvesting wood off these tree farms, bringing them into the plant.</doc> <doc id='29'>Roughly 50% of the of that tree is water, and that leaves about 50% to dry solids. And of that 50% of dry solids, we currently, through our cellulose plants, will extract 40 of it to make our cellulose fiber products. The other 60%, currently, we we burn for its BTU value. So the opportunity for us is to monetize that other 60% in biomaterials. And we can do that through a number of different products.</doc> <doc id='30'>For example, biofuels like bioethanol, CTO, prebiotics, turpent极, lignosulfates, and so forth. We believe that we're uniquely positioned in that we can leverage our existing facilities to create, I would say, exceptional and tremendous shareholder value over and above what our competitors can极. And that's because you're essentially leveraging off of a asset base where you don't where you can take advantage of its current infrastructure. So the capital

财务数据和关键指标变化 - 全球销售额达32亿美元，同比增长3.3%，按固定汇率计算增长2.7% [26] - GAAP营业利润率4.67%，同比下降42个基点；非GAAP营业利润率6.96%，同比下降79个基点 [27] - 第二季度GAAP净利润8600万美元（每股0.70美元），去年同期1.04亿美元（每股0.80美元） [28] - 非GAAP净利润1.35亿美元（每股1.1美元），去年同期1.58亿美元（每股1.23美元） [28] - 调整后EBITDA为2.56亿美元，去年同期2.68亿美元 [29] 各条业务线数据和关键指标变化 全球分销与增值服务业务 - 美国牙科商品销售额下降1.2%，销量增长但产品价格下降 [30] - 美国牙科设备销售额下降4.7%，主要受5月开始的经济不确定性影响 [30] - 美国医疗分销业务增长6.3%，家庭解决方案业务表现强劲 [31] - 国际牙科商品销售额增长1.9%（固定汇率增长0.5%），受复活节时间影响 [31] - 国际牙科设备销售额增长12.1%（固定汇率增长9.1%），加拿大、德国、奥地利和新西兰表现突出 [32] 全球专业产品业务 - 销售额增长4.2%（固定汇率增长3.3%） [32] - 种植体和生物材料业务稳健增长，价值种植体实现两位数增长，高端种植体低个位数增长 [32] - 正畸业务销售额同比下降，但降幅小于前几个季度 [33] 全球技术业务 - 销售额增长7.4%（固定汇率增长6.6%） [33] - 美国市场增长由收入周期管理和实践管理软件驱动，Ascend实现两位数增长 [33] - 国际市场增长主要由Dentale云实践管理解决方案和加拿大市场驱动 [34] 各个市场数据和关键指标变化 - 美国医疗业务表现强劲，家庭解决方案平台突出 [10] - 巴西牙科商品销售增长显著 [14] - 加拿大和欧洲传统牙科设备销售增长强劲，受益于科隆国际牙科展 [15] - 欧洲种植体业务受复活节时间影响，但季度后期势头增强 [20] 公司战略和发展方向和行业竞争 - 维持全年指引，预计2025年将成为实现长期高个位数至低两位数盈利增长的基础年 [7] - 与KKR Capstone合作，聘请两家全球管理咨询公司提升分销毛利率和效率 [7] - 推进Bold plus One战略，预计2026年开始见效 [8] - 引入AI解决方案等新技术以优化流程和提升客户体验 [9] - 非GAAP营业利润中45%来自高增长高利润业务，目标是将这一比例提升至50%以上 [9][10] - 推出新的全球电商平台，已在英国和爱尔兰上线，正分阶段在北美推出 [11] 管理层对经营环境和未来前景的评论 - 对7月销售趋势表示满意，认为促销活动成功赢回客户 [48] - 牙科患者流量在全球范围内保持稳定 [49] - 关税问题导致客户转向自有品牌和价格适中的产品 [50] - 美国牙科市场仍受人员招聘挑战影响，但诊所生产力在提升 [51] - DSO（牙科服务组织）融资状况良好，持续投资设备 [85][86] - 新办公室设计项目除5月外均实现两位数同比增长 [88] 其他重要信息 - 宣布CEO Stanley Bergman将于年底退休，但继续担任董事长 [22] - 已完成加速股票回购计划，以平均70.88美元价格回购370万股 [36] - 重组费用2300万美元，预计年底前实现年化运行率节约超1亿美元 [34][35] - 运营现金流1.2亿美元，预计全年运营现金流将超过净利润 [37] 问答环节所有的提问和回答 关于牙科业务趋势和关税影响 - 7月销售趋势积极，促销活动成功赢回客户 [48] - 牙科患者流量总体稳定，公司市场份额保持或增长 [49] - 客户理解并接受关税导致的涨价，手套市场竞争激烈但公司表现良好 [56][57] - 正畸业务规模小（约1亿美元），传统业务稳定，隐形矫治器生产已整合至法国工厂 [75][77] 关于咨询项目进展 - 与KKR Capstone合作聚焦两个领域：提升毛利和优化SG&A [60] - 已在欧洲取得初步成果，现扩展至美国市场 [61] - 预计2026年将显现效果，包括AI应用和全球化职能 [62][64] 关于财务指引和下半年展望 - 维持全年指引，预计下半年盈利将高于上半年 [69] - 种植体业务中TaperPro锥形种植体有望推动三四季度增长 [71] - 手套价格已趋稳，但仍低于去年同期水平 [81] - 产品组合变化（如价值种植体占比提升）影响细分毛利率 [81] 关于DSO和大客户RFP - DSO融资状况良好，持续投资设备特别是数字化设备 [85][86] - 大客户定期RFP属正常行为，公司通过综合服务能力和自有品牌保持竞争力 [97] - 与客户合作应对关税，寻找替代供应源和分担成本方案 [99] 关于毛利率和成本节约 - 手套价格压力约占毛利率下降的三分之一 [105] - 促销活动已结束，预计下半年毛利率将趋稳 [106] - 成本节约将分阶段实现，部分在2026年显现 [110][113] - 高增长高利润业务占比从30%提升至45%，加上自有品牌贡献超过55% [111]

大会概况 - 第四届合成生物与绿色生物制造大会(SynBioCon 2025)将于8月20-22日在浙江宁波举办[1] - 大会聚焦"1+3"方向：AI+生物制造、绿色化工与新材料、未来食品、未来农业[1] - 大会将探讨"十五五"生物制造产业发展趋势、AI赋能产业创新、革新技术和产品等议题[1] 组织机构 - 主办单位：宁波德泰中研信息科技有限公司(DT新材料)[2] - 协办单位：北京大学宁波海洋药物研究院、宁波酶赛生物工程有限公司[2] - 支持单位包括中国生物工程学会生物基材料专业委员会等多家机构[2] - 大会顾问专家为深圳理工大学合成生物学院院长张先恩[2][5][6][7][8] 参会专家及研究领域 - 薛闯(大连理工大学)：能源和化学品生物制造，包括乙醇、丁醇、纤维素酶等[10] - 袁其朋(北京化工大学)：高纯天然产物规模制备，构建20余种芳香族化合物细胞工厂[12] - 王丹(重庆大学)：聚酰胺关键单体生物合成，与万华化学等企业合作[14][15] - 杨世辉(湖北大学)：非粮大宗醇和有机酸生物制造[16][17] - 姚远(浙江大学)：基因编辑技术、蛋白设计与智造技术[19] - 于洪巍(浙江大学)：生物油脂、维生素A、25-羟基维生素D3和虾青素生物合成[21][22] - 王泽建(华东理工大学)：抗生素、维生素、氨基酸等生物发酵产业技术[23] - 刘夫锋(天津科技大学)：工业酶挖掘改造，蔗糖异构酶固定化技术[27][28] - 李爽(华南理工大学)：天然活性化合物和香氛物质全生物路径合成[29][30] - 朱蕾蕾(中科院天津工业生物所)：工业酶蛋白分子改造和低碳生物制造[31][32] - 罗自卫(西北农林科技大学)：芳香族化合物绿色生物制造[33][34] - 徐国强(江南大学)：氨基酸衍生物(γ-聚谷氨酸等)合成生物学研究[35][36] - 姚长洪(四川大学)：微藻光合固碳与糖类代谢调控[37] - 潘学玮(江南大学)：高值氨基酸衍生物高效合成细胞工厂[39] 大会议程 - 8月20日：会议签到、生物制造产业高层座谈会、生物制造青年论坛[41] - 8月21日：开幕式及全体大会、绿色化工与新材料专题论坛、AI赋能生物制造蓝皮书研讨会[41] - 8月22日：AI+生物制造专题论坛、未来食品&农业专题论坛[41] - 同期活动包括科技成果展示与对接、合成生物创新展览[41] 其他信息 - 大会报名可通过扫码方式参与[44] - 参考信息包括中国生物制造产业地图(2025版)[45]

大会概况 - 第四届合成生物与绿色生物制造大会(SynBioCon 2025)将于8月20-22日在浙江宁波举办，聚焦"AI+生物制造、绿色化工与新材料、未来食品、未来农业"五大方向[1] - 大会旨在探讨"十五五"生物制造产业发展趋势、AI赋能产业创新、革新技术与产品生命力，并促进科技成果转化与人才挖掘[1] 组织机构 - 主办单位为宁波德泰中研信息科技有限公司(DT新材料)，协办单位包括北京大学宁波海洋药物研究院、宁波酶赛生物工程有限公司等[2] - 支持单位涵盖中国生物工程学会生物基材料专业委员会、浙江省合成生物产业技术联盟等6家机构[2] - 大会顾问专家包括深圳理工大学合成生物学院院长张先恩等权威人士[2][4] 产业化专家阵容 生物基化学品与材料 - 薛闯(大连理工大学)：开发自组装蛋白质笼人工细胞器，提升番茄红素产量，优化纤维素酶菌株[6] - 袁其朋(北京化工大学)：构建高版本芳香族化合物合成底盘，生产对乙酰氨基酚等20余种化合物[7][8] - 王丹(重庆大学)：开发生物基聚酰胺单体(戊二胺等)，与万华化学等企业合作[10][11] - 杨世辉(湖北大学)：布局非粮大宗醇酸生物制造，推动厌氢发酵技术[12] - 王泽建(华东理工大学)：攻克抗生素、维生素等发酵产业工程化技术，服务20多家生产企业[18] 酶工程与生物催化 - 刘夫锋(天津科技大学)：开发蔗糖异构酶固定化技术用于异麦芽酮糖绿色制造[22][23] - 朱蕾蕾(中科院天津工生所)：创制碳碳缩合酶等工业酶，推动一碳化合物绿色制造[26][27] - 廖苍松(中科院上海药物所)：专注生物催化与酶级联反应不对称合成[20] 高值化合物合成 - 于洪巍(浙江大学)：以生物油脂、维生素A等为核心产品线[16][17] - 李爽(华南理工大学)：实现天然活性化合物全生物路径合成，应用于日化领域[24][25] - 罗自卫(西北农林科大)：设计芳香族/杂环化合物细胞工厂[29] - 徐国强(江南大学)：研究γ-聚谷氨酸等氨基酸衍生物合成[30][31] 大会议程 8月20日 - 生物制造产业高层座谈会(邀请制，20+行业领袖)[36] - 生物制造青年论坛(20+场创新成果报告)[36] 8月21日 - 开幕式及宏观论坛[36] - 绿色化工与新材料专题论坛(化学品/新型碳源制造)[36][37] - AI赋能生物制造蓝皮书闭门研讨会[37] 8月22日 - AI+生物制造专题论坛[37] - 未来食品&农业专题论坛[37] - 同期举办科技成果展示与合成生物创新展览[37]

财务表现 - 一季度营业收入9.75亿元 同比增长17.94% 归母净利润1.36亿元 同比增长1.8% [1] - 毛利率36.77% 环比下降约3个百分点 [3] - 下调2025年盈利预测15% 预测2025-2027年营业收入46.31/55.57/63.91亿元 归母净利润6.99/8.70/10.30亿元 [4] 业务分析 电子材料业务 - 维持平稳运行 开发新品满足高端市场需求 [2] 催化材料业务 - 推进客户合作 凭借国内供应稳定性和性价比优势 逐步进入商用车和乘用车客户开发放量阶段 [2] 生物材料业务 - 海外销售渠道逐步提升 海外销售占比增加 已形成海外团队并持续考察海外标的 [2] 精密陶瓷业务 - 陶瓷球受益于新能源800V快充应用放量 陶瓷基板完成全产业链布局 未来粉体布局完善后将提升盈利水平 [2] 行业环境 - 房地产竣工面积累计同比下降14.3% 建筑陶瓷业务受地产链影响 公司拓展海外市场和纺织印染业务 [3] - 新能源行业竞争激烈 氧化铝等材料承压 [3] 估值预测 - 2025-2027年EPS预测0.70/0.87/1.03元 现价对应PE估值24/19/16倍 [4]

大会概况 - 首届全球骨科大会在北京中关村举行，吸引600余位临床专家、学者、企业代表和投资人参与[3][5] - 大会聚焦骨科科技创新、医工交叉、集采政策、手术机器人等热点话题[5] - 北京市海淀区副区长表示将支持骨科机器人、生物材料等创新产品从临床需求出发走向全国[8] - 北京市医药健康科技发展中心强调以政策牵引推动骨科医疗器械从自主研发走向成果转化[10] 创新成果与奖项 - 大会发布《2025全球骨科创新年度白皮书》，指出新材料、手术机器人、AI赋能骨科为创新焦点[15] - 17家企业分获三大奖项：8家获"全球骨科技术创新奖"（如罗森博特、歌锐科技等），5家获"服务奖"（如通和立泰等），4家获"临床应用奖"（如佗道医疗等）[18][20] 政策与产业支持 - 北京市药监局解读创新服务政策，通过"项目制管理+全程辅导+快速通道"加速骨科器械注册审批[21] - 中关村科学城管委会提出构建医药健康"全链条创新生态"，推动新一代医疗器械从概念验证到市场落地[24] 技术前沿与临床实践 - 积水潭医院吴新宝教授提出骨科机器人应从"术中工具"升级为重构骨折治疗理念的系统平台[29] - 协和医院赵宇教授强调"人因工程"是骨科产品设计关键，可提升安全性与转化成功率[31] - 歌锐科技推出"牛顿"智能诊疗平台，融合AI大模型推动骨科机器人向全流程系统平台演进[33] - 英诺科研发ChroMg™时序吸收镁合金，匹配生物节律推动高性能植入物临床应用[35] - 长木谷医疗董事长指出骨科AI与手术机器人正从辅助工具走向智能平台，实现个体化治疗[39] 圆桌论坛观点 - 天智航认为未来骨科机器人需聚焦精准感知、导航算法与术中反馈系统融合[43] - 纳通医学研究院强调新材料研发需与医生共创，将术中需求反馈至工程端[45] - 春立医疗指出集采常态化下企业应注重技术壁垒和术式创新提升产品不可替代性[47] - 中信建投证券分析具备技术门槛和明确迭代节奏的赛道仍有良好融资空间[49] 下午专场技术分享 - 史赛克展示Mako机器人结合3D打印假体，推动骨科置换手术迈向个性化重建[56] - 高沃律师事务所建议骨科企业构建系统性知识产权护城河[58] - 积水潭医院周一新教授提出"滴定式TKA"实现膝关节置换动态调控[64] - 北医三院田耘教授指出3D打印技术需整合多孔结构与固定协同支撑[70] - 解放军总医院张卓强调医工融合需打通临床需求与设计逻辑的协同闭环[72]