Allah tells us that He has created everything well and formed everything in a goodly fashion. Malik said, narrating from Zayd bin Aslam:
(Who made everything He has created good) means, "He created everything well and in a goodly fashion." When Allah mentions the creation of the heavens and the earth, He follows that by mentioning the creation of man. Allah says:
(and He began the creation of man from clay.) meaning, He created the father of mankind, Adam, from clay.
(Then He made his offspring from semen of despised water.) means, they reproduce in this fashion, from a Nutfah which comes from the loins of men and from between the ribs of women.
(Then He fashioned him in due proportion,) means, when He created Adam from clay, He created him and gave him shape and made him upright.
(and breathed into him the soul; and He gave you hearing, sight and the sense of deduction.) means, reason.
(Little is the thanks you give!) means, for these strengths with which Allah has provided you; the one who is truly blessed is the one who uses them to worship and obey his Lord, may He be exalted and glorified.