"Science and Technology Innovation Board**" on March 6 (reporter Ao Jin, Yu Shiqi, Li Mingming).Emerging industries and future industries are becoming the new engines of China's economic growth. The 2024 ** work report clearly states that we will actively cultivate emerging industries and future industries.
Implement industrial innovation projects, improve industrial ecology, expand application scenarios, and promote the integration of strategic emerging industries. Consolidate and expand the leading advantages of intelligent networked new energy vehicles and other industries, accelerate the development of cutting-edge emerging hydrogen energy, new materials, innovative drugs and other industries, and actively build new growth engines such as biomanufacturing, commercial aerospace, and low-altitude economy. Formulate future industrial development plans, open up new tracks such as quantum technology and life sciences, and create a number of future industry pilot areas. ”
The reporter of the Science and Technology Innovation Board sorted out the current industrial layout of several emerging tracks, such as intelligent networked new energy vehicles, emerging hydrogen energy, new materials, innovative drugs, biomanufacturing, commercial aerospace, low-altitude economy, quantum technology and life sciences, as well as the flow of funds, in order to show the development potential of several emerging industries.
This series is divided into two partsThe first part focuses on five emerging industries: low-altitude economy, innovative drugs, biomanufacturing, emerging hydrogen energy, and quantum technology.
1.Low-altitude economy
Low altitude refers to the airspace below the true height (height above the surface) of the vertical range. Low-altitude economy refers to a comprehensive economic form that relies on low-altitude airspace, takes the low-altitude flight activities of various manned and unmanned aircraft as the traction, and radiates the integrated development of related fields. General aviation is the main industry of the low-altitude economy, and UAVs are the leading industry of the low-altitude economy.
According to data from the Civil Aviation Administration, by the end of 2023, there will be 689 domestic general aviation enterprises, of which large state-owned enterprise groups are the leading ones, including AVIC, Aviation Engine Power and Zhongzhi Co., Ltd. In terms of drones, there are about 2,000 drone design and manufacturing units, and nearly 20,000 operating enterprises, including DJI, AVIC UAV and Aerospace Rainbow.
From the perspective of the number of investment and financing events, from 2020 to 2022, the number of investment and financing events in the domestic low-altitude economic industry showed a year-on-year growth trend, with 33 investment and financing events in 2022, and the financing rounds were mainly distributed in Series A and strategic investment rounds. In 2023, there will be 30 investment and financing events in China's low-altitude economic industry, with a total financing amount of more than 4 billion yuan; Among them, in the first quarter of 2023, United Aircraft Group successfully completed the delivery of 900 million yuan of financing funds in Sichuan. So far, United Aircraft has received heavy support from a number of well-known investment institutions, and successfully completed the D round of financing with a total amount of about 2 billion yuan, which is the largest financing in 2023. In addition, in terms of cumulative financing amount, in addition to EHang, which has been listed on the U.S. stock market, Xpeng Huitian has the highest total financing in history, exceeding 500 million US dollars.
Subdivision on the track,The EVTOL (Electric Vertical Take-off and Landing Aircraft) track is relatively activeThe total financing of Fengfei is 100 million US dollars, and Yufeng Future, Shi, Volant, and Zero Gravity Aircraft Industry have all entered the "100 million yuan club", and most of the remaining players are still in the initial financing stage of 10 million yuan such as angel round, seed round, and Pre-A round. In the drone airport track, Yunsheng Intelligent completed the C+ round of financing, and Zhongke Yuntu completed the B+ round of financing of nearly 100 million yuan; In the agricultural drone track, XAG Technology completed the latest round of financing, and Arctic Vision Robotics completed equity financing of over 100 million yuan.
As of 2023, a total of 16 provinces (autonomous regions and municipalities) will write the relevant content of "low-altitude economy" into the ** work report; Among them, 5 provinces have become the first batch of pilot provinces for low-altitude airspace management reform in the country, namely Sichuan, Hainan, Hunan, Jiangxi and Anhui. Among them, Hunan is the first province in the country to pilot the reform of low-altitude airspace management; Jiangxi Nanchang has formed a good industrial foundation, and Jiangxi's low-altitude economy has begun to support the development of rural economy.
Shenzhen is the first city of low-altitude economy in ChinaThe output value of its drone industry is 75 billion, and the number of enterprises is 1,300The leading companies include DJI, Meituan, Hawa International, and CITIC Haizhi.
2.Innovative drugs
According to the data of the Venture Capital Connect of the Financial Associated Press, there will be 514 financing events in the innovative drug industry in 2023, with a total financing amount of 61$5.9 billion, which is about the total amount raised in 2022 (110..)$5.6 billion) and the total amount raised in 2021 (235.5 billion$9.5 billion). However, the R&D of innovative drugs is still the track with the largest amount of financing in the domestic biomedical field. In addition, the overall financing amount of the upstream chain, which is dominated by CXO and innovative drug raw materials, will also reach 301 in 2023400 million yuan.
In the research and development of innovative drugs, the two subdivisions of small molecule chemical drugs and antibody drug research and development attract the most money, accounting for 27 of the financing amount respectively86% and 1840%。The top projects in terms of small molecule financing amount are: Yanming Biotech Series A 700 million yuan; Langlai Technology's A round of 500 million yuan; Anrui Biotech Series B 50 million US dollars; Pacific Century Biotech's B round exceeded 300 million yuan; Yaojie Ankang D+ round 2600 million yuan; The top antibody drugs include: China Resources Biologics Series B 600 million yuan; AlphaCell B1 round 45 million; Boao Mingsai B round 200 million yuan.
The upstream chain of innovative drugs has become a safe haven for investment, and large-scale financing projects include: the first round of strategic financing of 2 billion yuan from Sangon Biotech; GenScript ProBio Series C 2$200 million; Pharmaron Biotech 9500 million yuan round is not disclosed; Shenshi Technology exceeded 700 million yuan; Langhua Pharmaceutical6400 million yuan.
The fastest growing track is the nuclear medicine track, which is about twice the amount of investment and financing in 2022. The main reason is that the star project Xiantong Pharmaceutical, which has single-handedly increased the financing heat of the entire nuclear medicine track in 2023. In July 2023, it received a large amount of financing of more than 1.1 billion yuan, and there are many investors behind it, including nearly 20 national teams, industrial groups and well-known investment institutions.
According to the analysis of the Eggshell Research Institute, there are currently three types of CXO projects favored by investors: first, CXO companies spun off by CXO leaders, such as Pharmaron Biotechnology and Langhua Pharmaceutical; The second is CXOs such as the transformation of the first batch of excellent CGT companies to CXO, such as GenScript ProBio and Spectrum Biotech; The third is a CXO company built by academics and industrialists who have grown up in China and returned from overseas studies, with technology, resources and teams, and has successful experience in the promotion of a variety of products in the field of CGT drug research and development and CXO, such as PackGene Biotech, Yunzhou Biotech, Xingcheng Biotech, etc.
At present, the listed innovative drug companies are mainly concentrated in the eastern coastal areas, among which the Yangtze River Delta region, where Jiangsu Province and Shanghai are located, are the most concentrated.
3.Biomanufacturing
Biomanufacturing refers to the advanced production mode with industrial biotechnology as the core, that is, based on cutting-edge biotechnology such as genetic engineering and synthetic biology, using the physiological metabolic functions or catalytic functions of living organisms such as strains, cells, and enzymes, and large-scale production of target products through industrial fermentation processes. At present, the main industry is synthetic biology.
According to the data of the Venture Capital Connect of the Financial Associated PressSo far in 2023, 52 synthetic biology companies in China have completed a total of 57 financing events, with a cumulative amount of more than 6 billion yuan. From a regional point of view: synthetic biology enterprises are concentrated in Shenzhen, Beijing, Zhejiang, Shanghai, Jiangsu and other agglomeration areas. Among them, 53% of the enterprises are concentrated in Beijing, Shanghai and Guangzhou, and the remaining 29% are concentrated in Jiangsu and Zhejiang.
From the perspective of overall investment rounds, the industry tends to invest early and small, and 75% of the financing events are in early rounds such as angel rounds and pre-A. Some companies have completed two or more rounds of financing in 2023, such as Enokike, Hopson Technology, Yuanyi Biotech, and Micro Element Synthesis.
In terms of track fields, enterprises that focus on the development of natural green innovative raw materials and focus on large market areas such as nutritional ingredients, beauty and personal care, food and agriculture, and green chemical industry are the key focus objects. In terms of innovation trends, AI technology empowers the field of synthetic biology, among which more than 15 companies have introduced AI technology into the industrial chain to promote industrial cost reduction and efficiency increase, while artificial intelligence is a key development area in the upstream infrastructure field. At the same time, to solve the problem of raw materials of "not competing with others for food", the development and utilization of non-food biomass has attracted attention, such as Ruijiakang Biology and other enterprises.
At present, projects with high financing amounts in the field of synthetic biology include: Blue Crystal Microorganisms, Microstructure Factory, Pilot Biology, etc.
Blue Crystal Microorganisms received the latest round of financing of 400 million yuan led by Zhongping Capital. It is understood that Blue Crystal Microbiology focuses on the development, manufacturing and sales of new bio-based molecules and materials, including degraded biomaterial PHA, functional drink ingredients that can effectively relieve anxiety and new probiotics that compensate for common metabolic defects in the human body.
The Micro Construct Factory will be completed in February 2023The RMB 5.9 billion Series A+ financing was funded by PetroChina Kunlun Capital, Sino Biological, Eric Investment, Sinoagri Capital, Mingqu Private Equity, Lingang Blue Bay Capital, Jisheng, Shanghai Free Trade Zone, Sequoia China, Chengtong Mixed Equity Private Placement** Management, Zhonghai Investment, and Fuhua Capital, headquartered in Beijing, is an innovative synthetic biotechnology R&D and application service provider, focusing on advanced manufacturing and medical fields.
In August 2023, Pilot Biotech completed a Series D financing of hundreds of millions of yuan, with Eli Lilly Asia** and Sherpa Investment as investors. Founded in 2015, the company focuses on innovative research in the field of synthetic biology, and is engaged in the research and development, production and sales of industrial biotechnology in medicine and health, animal and plant nutrition and health care and animal health products. At present, the company has built a R&D headquarters in Suzhou, Jiangsu, a R&D sales center in the United States, and a production base in Anhui and Changde, Hunan, and has completed an annual production capacity of 5,811 tons of biocatalysis and fermentation products, and a number of products have achieved large-scale mass production.
In addition, Cathay Biotech, a listed company in synthetic biology, announced a fixed increase plan of no more than 6.6 billion yuan in 2023. According to the plan, the target of this issuance is Shanghai Yaoqin (to be established), and after the completion of the transaction, the platform will become the new controlling shareholder of Cathay Biotech. Among them, the platform of the Liu Xiucai family, the actual controller, and China Merchants respectively hold % of the shares of Shanghai Yaoqin. China Merchants not only contributed money to shares, but also brought orders of real gold. According to the announcement, China Merchants will purchase bio-based polyamide series products from Cathay Biotech, which can be resins or composite materials.
4.Emerging hydrogen
According to the statistics of hydrogen energy sinks,Throughout 2023, a total of 38 hydrogen energy companies announced the completion of financing, with a public financing amount of more than 4 billion yuan. Among them, Sunshine Hydrogen Energy will complete 6600 million yuan, the largest financing scale during the year. 6 companies have completed more than 2 rounds of financing. Among them, Zhongke Hydrogen Yi and Suzhou Fu Hydrogen have completed 3 rounds of financing respectively. In terms of financing, hydrogen fuel cells, hydrogen production equipment, and hydrogen storage and transportation equipment are still the focus of investment and financing.
In terms of listing, Synergy Hydrogen Energy and SinoHytec will be listed on the Hong Kong stock market in 2023. Among them, Synergy Hydrogen Energy landed on the Hong Kong stock market at the end of December last year and successfully raised more than 1.4 billion yuan in the public market. As an early high-tech enterprise to enter the field of hydrogen fuel cells, Synergy Hydrogen Energy has been favored by many capitals in the primary market in the seven years since its establishment. According to the prospectus, from November 2016 to September 2022, Gonghong Hydrogen Energy has undergone a total of 10 rounds of external investment. Among them, there have been 7 rounds of financing after 2020, and in the last round of financing, Jiaxing Hydrogen Port and CDH Yiyu injected a total of 54.6 billion yuan.
In terms of A-shares, there are still a number of hydrogen energy companies in the queue for listing, including SAIC Group's Hydrogen Jet Technology, Guofu Hydrogen Energy, Zhongding Hengsheng and Dongyue Hydrogen Energy.
As the policy continues to increase the support and cultivation of the hydrogen energy industry, relevant supporting policies have been introduced in various places, and at the same time, the company is also developing the local hydrogen energy industry through investment and attraction projects. At present, Puyang City, Henan Province has announced the establishment of a hydrogen energy industry development investment of no less than 20 billion yuan**; Shaanxi has set up Shaanxi Green Energy, Hydrogen Energy** and Shaanxi Carbon Neutral Industrial Investment**; Shandong Finance Group and Sinopec Group jointly established a hydrogen energy industry with a scale of 10 billion yuan.
The data shows thatMore than 3,500 companies across the country have established businesses related to the hydrogen energy industryAmong them, the leading enterprises are concentrated in the Beijing urban agglomeration, Shanghai urban agglomeration, Guangdong urban agglomeration, Hebei urban agglomeration and Henan urban agglomeration.
According to the statistics of New Fortune and other ** institutions, there are 72 A-share listed companies that have substantially cut into the core business of hydrogen energy. According to the distribution of the industrial chain, 25 of them focus on upstream functional links such as hydrogen production, hydrogen storage, and hydrogen transportation - which is also the fastest link to achieve profitability, 18 companies focus on the layout of fuel cell system business, 23 companies are fuel cell upstream parts and equipment suppliers, 4 companies are vehicle manufacturers of hydrogen vehicles, and 2 companies are related testing and inspection business.
5.Quantum technology
According to the data of the Financial Associated Press Venture Capital Connect-ZhizhongIn recent years, there have been 17 quantum technology investment and financing eventsAmong them, there were three cases in 2020 and three in 2021. Geographically, three occurred in Shanghai and two in Beijing.
Financing to the D round to the pre-IPO stage, there is Guoyi Quantum Technology (Hefei) Co., Ltd., which was established in 2016, is a quantum precision measuring instrument research and development manufacturer. With quantum precision measurement as the core technology, the company provides enterprises and research institutions around the world with core key devices represented by enhanced quantum sensors, scientific instruments and equipment for analysis and testing, and core technology solutions that enable industrial applications.
In terms of policies in key regions, according to the Zhiyan Consulting Report, Shanghai launched the Action Plan for Promoting the Innovation and Development of the Data Element Industry Based on the New Track of the Digital Economy (2023-2025) in July 2023, which pointed out that in the next three years, it is necessary to implement multi-cloud and multi-network linkage, consolidate and improve the energy level of facilities such as 5G, IPv6, and Beidou communication and guidance integration, and strengthen innovation such as blockchain chips and operating systems, as well as the application of key technologies such as 6G, terahertz, and quantum communication.
In July 2023, Jiangxi Province issued the "Overall Plan for the Construction of Digital ** in Jiangxi Province", which pointed out that it is necessary to promote the construction of the Jiangxi node of the national wide-area quantum secure communication backbone network, build a quantum secure communication trunk line covering all districts and cities in stages, and improve the security protection level of quantum informatization in the province's government affairs.
In July 2023, the people of Fujian Province issued the "Three-Year Action Plan for the Construction of New Infrastructure in Fujian Province (2023-2025)", expressing their support for Fuzhou to build a high-quality satellite constellation and maritime networking application center of the Maritime Silk Road, build Quanzhou and Sanming satellite remote sensing sub-centers, build a time center of the Quanzhou Maritime Silk Road, promote the construction of Putian Beidou comprehensive application city, and actively integrate into the construction of the national quantum communication network.
According to the Research Report on the Development and Application of Quantum Information Technology (2023) released by the China Academy of Information and Communications Technology, quantum information technology is a century system engineering that challenges the limits of human ability to regulate the microscopic world, which is not only an important part of quantum technology, but also one of the key directions of future industrial layout and development, and will lead a new round of scientific and technological revolution and industrial transformation. Quantum information technology has entered a critical period of development for the integration of scientific and technological research, engineering research and development, application exploration and industrial cultivation, and major countries in the world are strengthening strategic planning and investment layout, and international competition is becoming increasingly fierce.
Quantum positioning, navigation and timing (PNT) technology has outstanding strategic value and has become a hot spot in various countries. The quantum measurement industry chain is beginning to take shape, and there are still challenges for large-scale commercialization.