wen | 《zhongguoqiyejia》 tanliping

编辑 | 张昊

simeigelutaideguochan“pingti”，yuelaiyueduo。

11yue28ri，hangzhoujiuyuanjiyinzhengshidenglugangjiaosuo。zheishiyijiazhangyugukedegongsi，dantaxianzaiyouleyigexinmingtou——simeigelutaifangzhiyaodiyigu。

beimasikedengyizhongmingrendaihuodesimeigelutai，guoqujinianzaiquanqiuxianqile“jianzhonggeming”，zheikuanyaowuyebeixingyepubianrenweiyouwangchengweixiayidaiquanqiu“yaowang”。

2023niande“yaowang”shimoshadongde“kangaishenyao”——kyao，xiaoshouewei250yimeiyuan。jinnianqiansanjidu，nuohenuodedesimeigelutaisankuanchanpinhejixiaoshoueyue203.46yimeiyuan，tongbizengzhang40.88%。tongyishiqi，tadezhijiejingzhengduishou、lilaikaifadetierbotai，hejishixianxiaoshoue110.28yimeiyuan。anmuqianqushi，yongyouliangkuanzhongbangyaowudeglp-1（yigaoxuetangsuyangtai-1）saidao，jinnianjiuyoujihuiyinglai“yaowangshike”。

glp-1bingbushiyigexinbadian，simeigelutaihuopijianzhongshiyingzhengzhiqian，zhuyaoyongyuzhiliaotangniaobing。jiuyuanjiyinzaozai2005nianjiukaishiyanjiuglp-1，yikaifachudelilalutai（simeigelutaide“yidaichanpin”）fangzhiyao，zhiqiantongguoshouquandefangshizhuanrangjilehuadongyiyaoqixiadezhongmeihuadong。

muqiangongsikaifadeliangkuansimeigelutaishengwufangzhiyaofenbieyijiyoutai、jikeqinzuoweipinpaimingyongyuzhiliao2xingtangniaobinghefeipangzhengjichaozhong。jinnian1yue，jikeqinhuodelinchuangshiyandepizhun。4yue，jiyoutaideshangshishenqinghuodeshouli，chengweiguoneidiyikuanshenbaoshangshidesimeigelutaishengwufangzhiyao。

jizhefaxian，jiuyuanjiyinwanchengshangshizhihou，gupiaoluntanshangguanyu“jianfeishenyao”“simeigelutaiguochanpingti”denghuatidetaolunxunsushengwen。bushaotouzizhechangxiangleyigejudadeshichang，“wangdale，zheishigeqianyijidechaojidangao，wangxiaodian，zhisuanzhongguoshichang，yeyoubaiyiyishangdeshichangqianli，xiangxiangkongjianhenda”。

danchifanduiyijiandetouzizhegengduo，“gushihaikeyi，kexibuxiqi”。tamenrenwei，suizhe2026niansimeigelutaihexinfenzizhuanlizaizhongguodaoqi，shichangjingzhengyidingfeichangjilie，zuizhongjieguokenenghuishi“yigeheshangyoushuihe，jishigeheshangzeshinanshangjianan”。

youmeitiyuanyinpengboxingyeyanjiudeyixiangfenxibaogao，chengmuqianquanqiuyou90duojiayaoqizaiyanfajianzhongyaowu，juedaduoshushijiyuglp-1dezhiliaofangan。zhishaoyou120zhongyaowujinrudaolelinchuangkaifajieduan，qizhongyue30%weizhongziyaoqi。erqiejindubingmeiyouyinwei“zibenhandong”ertuoyan，genjuinsightshujuxianshi，muqianshiyingzhenghan“feipang”deguoneiglp-1zaiyanxiangmugong75xiang，jinnianyoujindugengxindegong49xiang，chengxiantisuqushi。

zibenshichangsihuyezhijiejichuledaan。jiuyuanjiyinshangshidangrigujiajiuzaoyupofa，shoudie38.41%，zhihousuirangujiayousuohuisheng，danrengyuandiyufaxingjia。

“jianzhongban”simeigelutaiganggangzaiguoneishangshi，youxingyerenshigaosu《zhongguoqiyejia》，nuohenuodezaizhongguoqumingxiantigaolezheikuanyaodeziyuanquanzhong，pipeilexiangduidulidetuandui，mubiaojiushichongzhe“yaowang”baozuo。gaixinxibingweidedaonuohenuodedequeren。

zheiyeshibushaoxingyerenshikanshuaiguochan“pingti”dehexinyuanyin，“glp-1huibuhuishixiayigepd-1？”zaitouzizheluntanshang，zheiyangdetiwenbingbushaojian。cengjingde“kangaishenyao”yinweishichangqianjingjutou，chengweiyizhongchuangxinyaoqidehexinchanpin，bingyinciwanchengshangshi。danxunsudaolaidetongzhihuaneijuan，shimingxingchanpindiedao“baicaijia”。

nuohenuodeyiranzaitongguoyanfajiagusimeigelutaidechengqiang。genjuglobaldatadeshujubaogaoxianshi，dao2030nian，jinguankenenghuiyougengduofangzhiyaowujinrushichang，danzheixieyaowudeshichangzhanbiyujizhiyougeweishu，xiaoshouezongjijinwei88yimeiyuan。

guonei“gensui”fangzhiyaodeqiyeyeganzhidaolezheiyidian。youbujugaichanpinguanxiandeqiyechuangshirencheng，houxuglp-1chanpinluxushangshi，jingzhengshengjidezhijiejieguoshi，zhanzhenghuicongyiyuanduanyanshendaoxiaofeishichang，jiagezhanshibukebimiande。erzhenzhengdaoleneigejieduan，simeigelutaidepinpaiyoushihuigengmingxian，yinweijianfeibushigangxu，youxiaofeiyiyuandequntibuzaiyijiage，gengrenpinpai。

xingyepubianrenwei2026nianshiyige“shengsidian”，zaicizhiqiannenggouzhanjushichangfene，jiuhuixiangduicongrong。yinweijieshikoufubandesimeigelutaihuishangshi，haiyouhaocheng“shishangzuiqiangjianfeiyao”deanjinamg133yeyoujiaodadeshangshikenengxing。

guoneiyaoqidecelveyekaishifenhua。youqiyetongguoshouquan，tiqianhuishouchengben；youdekaishitansuoguojishichang，bijinghenduoquyudejingduimeiyouguoneishichangzheimeduo；miaozhunzhongguoshichangdeqiyeyezuohaole“shandianzhan”dezhunbei，bixuquqiangduoyigekenengbuduanhualuodeshichangfene。

zibenshichangduicihenbaoshou。danduiyudangxiadeguoneichuangxinyaoqilaishuo，suiranchuzaisimeigelutaide“yinying”zhixia，pangdadeshichangtilianghaishihuiluchuyidian“guangliang”de。

01 “蠢蠢欲动”

jinnian，shenshaogongkailumiandexindashengwuchuangshirenyudechao，beimeitizhuiwenyingshoumubiaoshihuidadao：mashidutai（glp-1chanpin）chulaihou，gongsihaishiyoujihuide。

zai2027nianshixian200yiyuandeyingshou，shiyudechaozai2022niantichudezengzhangmubiao，zhongyaozaitijiushimashidutai。xindashengwushicengjingcongpd-1rechaozhongpaochulaide“chuangxinyaosixiaolong”zhiyi，dandiyikuanzhulichanpinmeinengruqichengqishouru，shichangyalijiuyixiaziluozaileglp-1shang。

2019nian8yue，xindashengwuhelilaidachenghezuo，gongtongkaifaheshangyehuamashidutai，xindashengwuyongyoumashidutaizaiguoneishichangdeshangyehuaquanyi。jinnian2yuehe8yue，mashidutaiyongyujianzhonghexuetangkongzhidelianggeshiyingzheng，xianhoutijiaolexinyaoshangshishenqing。

beihouyou“baiyimubiao”tuizhe，xindashengwusuanshizaiglp-1shangyanfajinduzuikuaidechuangxinyaogongsi。qunian12yue，shenzhihaigensimeigelutaizuole“touduitou”deiiiqilinchuangshiyan。touduitoushichuangxinyaolingyuzuicankudeshiyanleixing，jiushijiangxinyaowuyuxianyouyaowuzhijiebijiao。ganyuyinggangsimeigelutai，kejianyudechaoqueshiduizheigechanpinxialezhongzhu。

bujinjinshixindashengwu，2026niansimeigelutaihexinfenzizhuanlidaoqizhishijiangzhi，yizhongguoneiyaoqichunchunyudong。

julejie，guoneiyiyoushiyukuansimeigelutaifangzhiyaochuyulinchuangshiyanjieduan，jiuyuanjiyin、lizhujituanfenbiezaijinnian4yuehe6yuetijiaolechanpinshangshishenqing。

bakelaiyinxingyuji，dao2030nian，quanqiujianzhongyaowushichangguimoyouwangzengzhi1500yimeiyuan。zheiqizhongglp-1shimuqiankanshangquzuijushangyejiazhidepinzhong，yinciguochan“pingti”deqianjingyebeirenweishifenguangkuo。jufangzhengzhengquangusuan，dao2030nian，guoneiglp-1jianfeiyaoshichangguimoyouwangchao378.52yiyuan。

zheiyeyinlaibushaoqiye“kuajie”。tongguodailimoshadonghpv（renrutouliubingdu）jiujiayimiaorangyeji、gujiaqifeidezhifeishengwu，zaihpvyimiaoxuqiuhuiluohouyeshajinglp-1。

2023nian11yue，zhifeishengwufabugonggaocheng，jiangyixianjinxingshishougouchenanshengwu100%deguquan。chenanshengwusuoyongyoude6kuanlinchuangjieduanhouxuanyaowuzhong，“zhongzusimeigelutaizhusheye”weiyulinchuangiiiqijieduan，yanfajinduchuyuguoneiqianlie，“koufusimeigelutaipian”chuzailinchuangqianjieduan。

ershuinijiancaidalaoderuju，zerangshichangxiandeyufa“mohuan”。

jinnian10yue，congshishuinijiancaixingyedesichuanshuangmafabugonggaocheng，jiangyi15.96yiyuanshougoushenzhenjianyuanyiyao92.17%deguquan。houzhejiushiyijiashengchanduotaileiyuanliaoyaodeqiye，zheishuyuglp-1chanyeliandeshangyouqiye。

2017nian，sichuanshuangmakaishiyewudiaozheng，beishouchongjidehexinyewushuinibufenbeibolizhizigongsi，cengshezuguosimuguquantouzi、tiyupeixundenglingyu。zheicishougou，shizheijiagongsidiyicijinrushengwuyiyaolingyu。

02 两座大山

jinguanshichangqianlijuda，danguoneiqiyexiangyaotuwei，haishixuyaozhimianliangzuohennankuayuede“dashan”。

12yue4ri，lilaigongbuleyixiangzhongbangjieguo。zaiyixiangtouduitoudesanqilinchuangyanjiuzhong，qiglp-1chanpindejianzhongxiaoguodafuchaoyuesimeigelutai。huanzhezaifuyongchanpin72zhouhou，pingjunjianzhong20.2%，ersimeigelutaideshuzishi13.7%，zheiyixiaoxituidonglilaidangtiangujiazhangfuchao2%。

liangjiajutouyijinglingpaosaidao，danhaizaiyanfashangjiaozhejing。ermingnian，shitamenzaiguoneishichangjuezhandeshike。

11yue，simeigelutaiqiangpaochenggong，“jianzhongban”zaiguoneizhengshikaishou。jinnian7yue，lilaidetierbotaijianzhongshiyingzhengnadaolezhongguoguojiayaopinjianduguanlijupizhun，henkuaiyejiangzaiguoneishangyehuashangshi。

suiransimeigelutaizaiyonghuduandemingshenggengda，danlilaisihaomeiyoushiruo。

jinnian10yue，lilaizhongguoxuanbu，jiangtouziyue15yiyuanyongyuqisuzhougongchangdechannengshengji，kuodatierbotaideshengchanguimo。

ciqiande5yue，lilaixuanbuleqiye150nianlishishangzuidadechannengtouzi——jiangzhuijia53yimeiyuan，zongtouziezengzhi90yimeiyuanyongyukuochan，yitishengtierbotaidechanliang。ershijideshuzikenenggengda，zi2020nianyilai，lilaiyiluxuxuanbutouzichao200yimeiyuanyongyukuochan，baokuozaimeiguo、aierlan、deguodengdizijianheshougougongchang。

lilaiguanlicengzaisuzhougongchangkuochandexianchangbiaoshi，cicizhanlvexingjihuademubiaojiushi“quebaochixuwendingdiweihuanzhetigongsuoxuyaowu”。zaicizhiqian，tierbotaidequehuoxianxiangfeichangyanzhong，zi2022nianshangshiyilai，shuciduanhuo，beilierulemeiguoshipinyaopinjianduguanlijudeduanqueyaopinmingdan。

nuohenuodeyezaidaguimokuochan。2023nian6yue，nuohenuodexuanbunitouchan23yimeiyuankuojiandanmaigongchang。11yue，kuochanjihuajiujiamadaochao60yimeiyuan，kejianshichangdebaofachengdu。

daolejinnian2yue，nuohenuodeshenzhifangqileyizhijianchidezijianmoshi，shougoulecatalentqixiadesanjiaguanzhuangchengpinshengchanchang，yicirangchannengkuaisuqiedaguimoditisheng。

zheixiekuochanjihuayouhendayibufenyeshizhenduimingniankaidadeguoneishichang。nuohenuodequanqiugaojifuzongcaijiandazhongguoquzongcaizhouxiapingtidao，jinruzhongguoshichangyilai，nuohenuodeyizhishiquanliyifu，zheijiagongsishiyaoxingchengcongyanfa、shengchan，daoyunyingdequanchanyelianbuju。

erqie，mianduishanda“jiagezhan”deqianzaizhongguoduishou，lilaiyekaishile“yanlian”。jinnian8yue，lilaixuanbutuichudanjiliangxiaopingzhuangchanpinzaizifeiqudaoxiaoshou，qijiagebisuoyouqitafeipangzhengyaowudeshangshijiagezhishaodi50%。lilaibingmeiyouduicizuoguoduojieshi，yebuquedinggaijiagecelveyaochixuduojiu，danzaixingyekanlai，zheijiajutougongsiyuzhidaoleweilaidejingzhengfengxian。

03 找“活路”

suiranquniannianzhongguoneihuopileliangkuanyongyujianzhongdeguochanglp-1leiyaowu，dandouyinweicunzai“yingshang”xiaoshoubujia。

xianshihuadongyiyaozigongsizhongmeihuadongdelilalutaizhusheye（shangpinming：liluping）shangshi，xuanzeleyiyuanqudao，danyouyubanshuaiqijiduan，huanzhemeitiandouxuyaozhushe。lilalutaixiangdangyusimeigelutaide“yidaichanpin”，houzhexianzaizhixumeizhouzhusheyici，erqiezhengtiyicongxingdouyaogenghao。

cihou，renhuishengwudebeineilutaizhusheye（shangpinming：feisumei）shangshi，tajiangxiaoshouwaibaojishangyaokangdele，bingzoudeshiyimeijigouqudao，danhaishilaowenti，dingjiagaoqiemeitianxusancizhushe，shichangfanyingyiban。

jizhezaishejiaopingtaishangfaxianyeyouyonghuciqianshiyongzheiliangkuanguochanyaowujianzhong，reduqueyuganggangzaiguoneishangshidesimeigelutaixiangbi，mingxianbuzaiyigeliangjishang，xiangguandetiezihetaolunbingbuduo。

zaixingyekanlai，zheiliangkuanguochanyaodejinglinengchongfenshuomingzhihouglp-1bujinjinshitongzhihuajingzheng，xiaoguohuoxushihuanzheduanzuizhongyaodesikaoweidu。ciczhuoshizixundongshizongjingliliulihetidao，zaiyanfabujucengmian，shijianbilei、yaowudechayihuasheji，yijiyaowuliaoxiaoshituweideguanjian。

tarenwei，duiyuxinrujuwanjialaishuo，zaicunliangshichang，yaotongguotishengyaowuxiaoguo、koufuhua、zhangxiaohua、xingjiabidengfangmianxiyinyonghu，zaizengliangshichang，yaokaoxinbadian、xinshiyingzhengdengfangxiangqiangjihui。

zheiduiyuduoshushizaizuo“fangzhiyao”deguoneiyaoqilaishuo，huoxubushigehaoxiaoxi，youqishizaikandaoliangjiawaizijutouhaizaitongguobuduanyanfalaijilibimian“neijuan”。

yijingyouguoneiyaoqizaicelveshangzuochudiaozheng，yibimianciqianguoneichuangxinyaoqizaipd-1shangde“beidong”。

pd-1cengbeirenweijuyou“baiyimeiyuanfenzi”deqianli，yebeishiweinandedeyuguojiyaoqitongtaijingzhengdejihui。yincizi2012nianquanqiushoukuanpd-1chanpin“oyao”gongbuyiqilinchuangshiyanjieguohou，guoneiyaoqijiukaiqileyichanghonghonglieliede“baituandazhan”。

zhihoudejiejuzhongrenjiezhi，haofeijudademingxingyaoshangshimeiduojiu，jiudaqijiagezhan，zhiliaofeiyongcong60wanyuan/nian，jiangdaolejiwanyuan/nian，diyizhenyingdepd-1chanpinyegangtupo10yiyuanxiaoshouguankou。

xiangjiaozhixia，glp-1saidaodeqiyeyao“congming”bushao，zaineijuanzhiqian，jiukaishimouhuachulu。

2023nian11yue，chengyishengwuyuasilikangdachengleyixiangjiazhichaoguo20yimeiyuandeglp-1dujiaxukexieyi，chushoulehexinchanpinecc5004zaizhongguoshichangyiwaidesuoyoudiqudedujiakaifaheshangyehuaquanli。jinnian10yue，chengyishengwuxuanbuyijingshoudaoleasilikangyibi6000wanmeiyuandelichengbeifukuan。

zheibeixingyerenweishi“dingjichulu”。nengbachanpinshouquanjiwaizijutou，jinengzhengmingzijidechanpinshili，youzhuyuzhihoudeguoneixiaoshou。youhuishoulezijin，yidingchengdushangguibilezhihoudecaiwufengxian。

jiulianchuzaiguoneiyixianzhenyingdehengruiyiyaoyemeiyou“danya”zhongguoshichang。

jinnian5yue，jiezhunewco（new company）zheiyixindechuhaimoshi——jianggongsichanpinguanxianhaiwaiquanlishouyuhaiwaixinchenglidegongsi，huodeguquan，tongshiyinruhaiwaizijin，dajianguojihuatuandui，shixianchanpinchuhai。hengruiyiyaojiangzijideglp-1leichuangxinyaozuhehrs-7535、hrs9531、hrs-4729chudazhonghuaquyiwaidequanqiufanweineikaifa、shengchanheshangyehuadedujiaquanli，xukejimeiguoherculesgongsi。shoufukuanhejinqilichengbeifukuanjin1.1yimeiyuan，jiashangzhihoudexiaoshoufencheng，zheigejiaoyizongjiakenengchaoguo60yimeiyuan。

jiexialaideliangnianjiangshiguoneiglp-1jianzhongyaowujizhongshangshiqi。haitongzhengquanfenxishiyuwenxinrenwei，2025nianlvxiankaiqiqiangxianjinyuanhedapinpai，kuaisuzhanlingqudao，daole2026nian，glp-1jiangjinru“hunzhanqi”。

mashangjiuyaopin“cidao”le，guoneidesimeigelutai“pingti”men，zuohaozhunbeilema？