2026 World Artificial Intelligence Conference The 2026 World Artificial Intelligence Conference (WAIC 2026) opened today. Hosted jointly by ten ministries and commissions including the Ministry of Foreign Affairs, the National Development and Reform Commission, and the Ministry of Industry and Information Technology, the conference involves 12 national ministries and commissions, 8 national-level laboratories, and over ten international organizations. It focuses on global AI regulations, security governance, and cross-border collaboration issues. This is the highest-level international AI governance dialogue platform in China. With the theme “Smart Partners, Co-creating the Future,” the conference will be held simultaneously in Shanghai Pudong Expo, Zhangjiang, and Xujiahui West Coast from July 17 to 20. Over 1,400 important guests from China and abroad will attend, including Nobel and Turing Award winners, CEOs of top global technology companies, international governance experts, and leading scholars from industry, academia, and research. More than 140 parallel forums will be organized, with core topics including world models, general intelligence agents, AI4S scientific intelligence, global AI governance, computing power infrastructure, and embodied intelligence. WAIC 2026 has successfully held its eighth edition since 2018 and has become an important platform for showcasing cutting-edge AI technologies in China and globally, as well as for deepening international cooperation. It is one of the most influential top-level events in the field of AI. Frost & Sullivan executives were invited to participate in several important forums, such as the RISC-V and AI Integration Development Forum and the Think Tank Meeting on AI-Driven Industrial Transformation, engaging deeply in discussions on cutting-edge AI topics. As a strategic technology that leads a new round of technological revolution and industrial transformation, AI is profoundly changing human production and lifestyle. This conference combines industrial exhibitions, top academic research, and global governance dialogues, serving as a key platform for implementing President Xi Jinping’s important remarks on AI: internally, it promotes the transformation and upgrading of domestic intelligent technologies; externally, it provides a global dialogue window to share inclusive and equitable AI governance insights from China. Dr. Wang Xin Vice President Global, Asia-Pacific Co-Chair, Chairman of Frost & Sullivan China As a leading global investment, financing, and business growth consulting firm, Frost & Sullivan is committed to providing professional consulting services for high-growth, strategic, and pioneering industries. Over the past 30 years, through professional industry analysis, market insights, and investment and financing consulting capabilities, Frost & Sullivan has helped nearly 3,000 companies go public on the global capital market, including many outstanding enterprises in advanced manufacturing, computing power, AI, semiconductors, and innovative drugs. Currently, Shanghai has emerged as a global innovation hub for the AI industry due to its open and inclusive industrial ecosystem and continuous innovation momentum. It has nurtured a group of leading AI innovation companies with core technical barriers and strong growth potential. We are pleased to see that Shanghai, as a global AI hub, is fostering a world-leading AI enterprise cluster with an open ecosystem and innovative vitality. Frost & Sullivan looks forward to working with pioneers in this region—through deep industry insights, global resource connections, and digital strategy empowerment—to help companies achieve a transition from technical breakthroughs to commercial success. As a leading growth consulting company in the global capital market, Frost & Sullivan remains rooted in Shanghai’s innovation environment and works alongside high-quality AI companies in China. Leveraging extensive industry research, global industrial resources, and mature capital market service experience, Frost & Sullivan accurately identifies trends in cutting-edge areas such as AI, smart computing economy, embodied intelligence, and large models. It provides comprehensive support to AI innovation companies, including technical value assessment, business prospecting, industry resource matching, and capitalization path planning, helping companies complete the entire growth journey from innovation breakthroughs to industrial iteration and capital appreciation. In the field of capital market services, Frost & Sullivan continues to maintain a leading position in the industry. During the first half of 2026, Frost & Sullivan provided exclusive industry consulting services to 58 companies undergoing IPO in the Hong Kong stock market. By number of projects, its market share reached 69%, maintaining its top position in the industry. According to LiveReport’s big data statistics, there were 24 A+H stocks in the first half of 2026, and Frost & Sullivan served 20 of them, with a market share of 83%. The total fundraising amount in this segment was approximately HK$1,217 billion, accounting for 57.9% of the total market fundraising amount. This indicates that Frost & Sullivan had an absolute advantage in the largest and most stringent leading return-to-HK track. Among the 18 Hong Kong Stock Exchange listed companies related to AI in the first half of the year, Frost & Sullivan provided exclusive IPO industry consulting services to 13 companies, with a service market share of 72% in the AI sector. At the same time, Frost & Sullivan continues to embrace the AI industry transformation, actively integrating cutting-edge AI technologies into think tank research, industry analysis, and consulting services, and comprehensively upgrading its digital and intelligent professional service capabilities. With “trust in knowledge” and “trust in delivery” as its dual pillars, Frost & Sullivan has established a complete AI-native cognitive system. It integrates AI technologies in a more open manner, continuously focuses on niche innovation sectors, and seizes new opportunities in global industrial transformation. Frost & Sullivan has rich research achievements in the AI field , including the consecutive publication of the “Hong Kong AI Industry Development White Paper” and the “AI Empowering All Industries White Paper,” which continuously cover key areas such as AI infrastructure, large models, edge AI, embodied intelligence, AI healthcare, AI agents, AI solutions, and physical AI. Early research findings align with current industry and capital market concerns. Looking toward the future of the booming AI industry, Frost & Sullivan will continue to leverage its core advantages in investment and financing strategic consulting, connect global capital and industrial resources, focus on innovation empowerment, capital empowerment, and ecosystem empowerment. Together with leading AI industry leaders, we will explore a new blue ocean in the smart computing economy and build a new future for high-quality development of the AI industry!

对话沙利文王昕博士 在全球商业史中，65年足以见证多个经济周期、技术革命和产业重组。从战后全球化到数字经济，从制造业转移到供应链重构，从资本效率到可持续增长，企业的成功逻辑不断被改写。商业的本质，在于与时间共生。短期的行情起伏、热点轮换与市场波动终会落幕。今天，全球商业面临的问题不只是企业如何增长，更是如何在低增长、强竞争和全球化不确定性中重新定义增长质量。 每一轮周期都会淘汰一批企业，也会塑造一批新的商业标杆。回望过去几十年，在全球商业环境的关键词不断变化的过程中，中国商业的高速增长为全球商业趋势的变革提供了丰富样本，也经历着从追赶者转变为全球产业链的深度参与者的身份转换，并逐步成为推动全球化新周期商业变革的一支不可忽视的力量。进入全球化新周期，不确定性已成为常态，中国企业如何重新定义自身价值？能否从过往经验中提炼出穿越周期的能力？如何通过实践经验回应当下企业普遍面对的焦虑？又有哪些中国样本，可能在未来50年继续影响产业、市场与全球商业秩序？ 作为全球领先的增长咨询公司，弗若斯特沙利文（Frost & Sullivan，简称“沙利文”）正步入成立第65年的发展黄金阶段。这个夏天，在中国上海这座全球瞩目的新商业活力之都，FT中文网与沙利文全球高级副总裁、亚太区联合主席、中国董事长王昕博士展开对话，共同拆解企业穿越周期的商业底层逻辑。从沙利文65年的产业观察出发，回顾中国企业的成长路径，回应当下令企业陷入焦虑的时代议题，并寻找未来50年的商业样本。   FT中文网： 过去65年，沙利文观察并参与了全球产业的多轮变迁。真正能够被时间留下来的企业，靠的是什么？   王昕博士 沙利文全球高级副总裁、亚太区联合主席、中国董事长 中国经济长期保持持续、稳健的增长，是全球最大的利好之一。这是沙利文基于65年来对全球产业变迁的观察形成的一点体会。2026年是“十五五”开局之年，恰逢沙利文全球成立65周年，也是沙利文GIL峰会落地中国20周年。在这个特别的年份，沙利文不仅将发布第五期《中国未来50年产业发展趋势白皮书》，还将与FT中文网携手推出“影响下一个50年的十大中国商业案例”，共同寻找能够定义未来的中国商业样本。从追赶到定义，从速度到韧性，今天，中国企业的成长路径正在发生深刻变化。 在纷繁复杂的国际竞争中，能够长期生存并保持基业常青的企业，通常具备几项特征。第一，必须拥有全球化视野和前瞻性布局；第二，必须具备科技创新属性；第三，必须长期坚持品牌建设。世界变化迅速，企业不能以静止的眼光看待问题，而应着眼未来，因为未来代表希望。品牌是以最简单、最朴素、最直白的方式，对高度浓缩了企业的特征。只有将这些能力建设好，企业才能在长期、持续的竞争中脱颖而出。 最近我们看到一个比较大的新闻，也是一个非常典型的案例：SpaceX在纳斯达克成功上市，市值超过2万亿美元。这是“马太效应”的典型案例。2万亿美元大概是我们广东省的一年的GDP，这样的一个天文数字背后映射的，是大型企业更容易获得资源、关注度、资金、技术和人才，也更容易在产业政策导向和市场准入方面获得话语权或吸引力。最具影响力的企业，往往拥有更强的吸金能力。 同样，热点行业也具有较强的吸金能力。在已获香港证券交易所批准上市或正处于审批阶段的企业中，与人工智能（AI）相关的企业获得的融资额非常高。AI及其生态链是当前投融资的重要热点。近年来，中国企业在人工智能、机器人及相关半导体行业发展迅速，符合全球科技发展潮流，也因此更容易获得融资和关注，以及技术、资金与市场支持。中国经济中的许多主体、参与者和企业，其演进过程也与多项国际趋势呈现相似之处。   FT中文网：科技趋势的长线逻辑中，企业如何避免停留在既有成功里？   王昕博士 沙利文全球高级副总裁、亚太区联合主席、中国董事长 人类的好奇心，以及对外太空、大自然和宇宙的探索，从未停息。这并非新近出现的事物，而是人类长期追求的目标。科技发展从来不是一帆风顺，而是在曲折中螺旋式上升；这是人类发展与科技发展的必经阶段。 过去几十年间，从沙利文成立至今的65年里，全球经历了多轮产业发展浪潮。近年来，生命科学成为人类关注的重要议题之一。与生命相关的医疗卫生、医疗科技、医药科技，以及对一些难以治愈的顽固疾病的研究，都是人类长期、甚至可能永恒面对的主题，也为生命科学的发展带来了巨大机遇。与此同时，人类早已进入数字化和信息化时代。如今，许多工厂的智能化程度已经很高，家居智能化水平也在逐步提升。人类再次走到一个十字路口。空间技术、海洋技术、生命科学技术、半导体技术和人工智能，都是人类长期发展的重大方向。这些方向不会在一朝一夕之间被某一种技术简单取代，而将在较长时期内持续存在。 今天，更多可供借鉴的经验来自对过去失败的总结。举个例子，柯达是最早发明数码相机的企业之一，却没有大规模推广数码相机技术，也未充分意识到数码产品将全面席卷市场，仍认为胶片会占据主流。最终，这一庞然大物轰然倒塌。这个是我们特别值得吸取教训的。企业在传统技术和产品领域占据全球领导地位，也同样可能面临巨大危机，甚至面临更高的风险，风险系数可能是以指数增长的。   FT中文网：当增长放缓、供应链重构、大国技术竞争成为全球化中不可逆转的背景，以中美竞合为例，您如何看待技术驱动下中国企业的未来之路？哪些领域最能代表中国商业的结构性转型？   王昕博士 沙利文全球高级副总裁、亚太区联合主席、中国董事长 中美两国在许多方面可以相互学习和借鉴。以生物医药为例，近年来，中国生物医药企业赴境外上市受到关注。全球最大的医药企业仍在美国，但中国已经奋起直追，两者之间的差距是越来越小的。过去一二十年间，中国生物医药企业实现了跃进式增长，并吸收了许多先进国家的经验。 辉瑞（Pfizer）的首席执行官（CEO）在最近一次访谈中提到两个关键词：一个是AI，另一个是China。他表示，人工智能和中国是其思考中非常重要的两个词汇。在他看来，中国药企，尤其是生物医药企业，发展速度非常快。虽然在某些领域，中国药企暂时可能尚未完全超越美国药企，但这只是时间长短的问题。 竞争并非坏事。它推动企业、行业乃至国家不断演进，也使其在国际经济格局中保持竞争力。与此同时，竞争之中同样存在合作机会。能否看到这些合作机会，考验的是企业商业领袖的智慧、格局与眼光。“他山之石，可以攻玉。”合作不必局限于本行业、本赛道的小范围。 AI（人工智能）技术的出现，源于其对人类智能的补充或增强作用；这正如人类发明工具是因为双手无法完成所有事情。但机器并非万能，人工智能也存在不足和不完美之处。人工智能与人类智力并不相同，两者都有需要弥补的地方。人工智能与人类智能相结合，即AI（Artificial Intelligence）+HI（Human Intelligence），也可以理解为一些报道里提到的共同智能或共生智能（Co-Intelligence），即AI+HI=CI。这可能是最佳组合，二者缺一不可。   FT中文网：今天很多企业同时面对短期生存和长期增长的压力，也容易陷入价格战、同质化竞争和战略焦虑。您如何理解这种内卷？   王昕博士 沙利文全球高级副总裁、亚太区联合主席、中国董事长 “内卷”在某种意义上符合经济规律。经济学中有一个术语叫“规模经济效应”：当企业或行业实现规模化生产后，效率会大幅提高，成本随之下降，最终价格也会下降。这是十分正常的现象。随着我们经济发展，同一个行业里边竞争的企业的数量增加，它们的产量是必定增加的，因此一定会出现一个所谓的“内卷”现象，这也是因为许多企业缺乏系统梳理。对此，沙利文出版了《The Growth Coaching Book》一书。我们认为企业增长需要系统的方法和路径。无论对企业，还是对其CEO和商业领袖而言，最重要的工作都是实现企业增长。实现增长有多种系统方法。沙利文希望通过这本书和我们的一些业务服务，让企业不仅拥有方法，也能获得指导机构，也就是“教练机构”的支持，由此陪伴企业共同实现增长。 回到企业成长的韧性，我认为企业创立之初，首先必须有使命（Mission），也就是初心；第二是创新（Innovation）；第三是信任（Trust）。以百年老药企同仁堂为例，其之所以能够建立强烈的信任感，在于其理念始终强调：即使原料药昂贵，也不敢偷工减料；炮制虽繁，也不敢化繁为简。正是这两点赢得了患者、医生和产业界的信任，也使同仁堂成为名声远扬的大品牌。 使命、科技创新和信任，是企业竞争力的重要来源。企业首先不能忘记初心，同时要通过持续的科技创新不断演进，并持续提升相关产业各方和利害相关方的信任程度。无论将其称为“韧性三角”还是“稳定三角”，其中任何一边一旦成为最薄弱的一环，就最容易受到攻击。   FT中文网：从今天的产业变化看，真正具有未来价值的中国企业应该具备哪些能力？并有可能影响未来50年的全球产业格局？   王昕博士 沙利文全球高级副总裁、亚太区联合主席、中国董事长 企业要具备国际化视野和前瞻性布局，也要拥有科技创新能力和品牌建设能力，并理解世界或国家未来发展的大趋势。知识远不如见识重要；只有具备更广阔的见识、理解更大的格局，企业才会拥有自身发展的Benchmark（参照标杆）。 企业不能忘记自身使命。科技创新是企业保持高度竞争力的先决条件。企业不仅要开展科技创新，还要引领科技创新潮流，成为科技创新的带头人和引领者。同时，企业也要报效祖国。无论企业规模大小，也无论企业家的影响力大小，都应具备这种意识。位卑不可忘国忧，位高更不能忘国忧。最后一点，中国企业还必须具备国际化竞争的思维和意识，不能忘记自身置身于国际化竞争环境，而非小范围的竞争环境。走向世界、站上世界舞台，乃至走向世界舞台中央，是中国企业最高的追求目标之一。 我们国家反复在讲人类命运共同体，这意味着个人不能独善其身，企业也不能“独善其企业”。对企业而言，如果企业家不能将自身置于全球背景下审视，就注定不可能走得长远。 未来也是探讨出来的。如果我们能摸索出人类的共识，并结合许多国家的远景规划，便可以在一定程度上预见未来。过去4年，沙利文持续开展中国未来50年的远景预测。沙利文在全球有65年的产业积累，在中国也有28年的积累。如果我们把这个大数据像开采金矿一样挖掘出来，再结合过去4年里我们做的对中国未来50年的预测，就可以形成具有一定参考价值的研究。我们希望通过这本《中国未来50年发展趋势白皮书》遴选出的样本企业，将发挥先锋示范作用，帮助中国在未来50年的发展中实现中华民族伟大复兴，也为中国乃至世界塑造一个特别美好的未来。 65年来，沙利文始终坚持事实和分析先于观点，以数据、分析和事实为企业决策提供锚点。在企业刚刚展露成长苗头时，沙利文便愿意与其同行，以专业和信任陪伴中国企业走向世界。我相信，未来50年，中国的故事和中国企业的故事都将更加精彩。未来已来，让我们共同见证。   *本文首发FT中文网， https://www.chineseft.net/interactive/287189 ，经授权转载

The 20th Frost & Sullivan Global Growth, Innovation and Leadership Summit and the 5th New Investment Conference (hereinafter referred to as "2026 Frost & Sullivan Summit" or "Conference"), organized by Frost & Sullivan, a world-leading growth consulting firm, will be held grandly in Shanghai from August 4-5, 2026. During the conference, a new investment forum for life sciences will be launched. The forum will feature three parallel sessions focusing on biomedicine, medical devices, and health technology, presenting cutting-edge topics and latest insights. With the core concept “Driving Change through Innovation, Staying Resilient and Achieving Long-Term Success”, the forum invites industry leaders, biomedicine and medical device companies, health technology firms, investment institutions, and professional service organizations to deeply discuss emerging trends in life sciences, innovative technologies, and global development paths, aiming to promote industrial advancement and global collaboration. The “2026 China Biopharmaceutical Internationalization Development Blue Book” will be released during the biomedicine session of the new investment forum for life sciences on August 5. Host City: Shanghai, China Date: August 4-5, 2026 Conference Scale: 5,000+ Conference Format: Offline + Online Live Streaming Organizer: Frost & Sullivan Scan the QR code to register immediately Blue Book Release The “2026 China Biopharmaceutical Internationalization Development Blue Book” will be released during the biomedicine session of the new investment forum for life sciences on August 5. “Internationalization” of Chinese biopharmaceutical companies is an inevitable choice for China’s innovative drug industry after completing early capacity accumulation, as it actively participates in global industrial division of labor and seeks larger market opportunities and higher value realization paths. In the past, Chinese biopharmaceutical companies relied more on local clinical resources, engineer advantages, and rapid iteration capabilities to start their innovation journey. However, as local market competition intensifies, payment constraints increase, and there are more homogeneous products, internationalization becomes an important direction for companies to break through growth boundaries, verify innovation value, and enhance capital recognition. Meanwhile, global pharmaceutical companies are re-evaluating China’s innovative strength, considering Chinese companies as important research and development partners, asset sources, and industrial chain partners. Under this context, Chinese biopharmaceutical companies are moving from “product internationalization” to “capability and system internationalization” through various methods such as overseas clinical development, international registration applications, licensing transactions, overseas production, and commercialization strategies. True internationalization requires companies to have globally competitive products, as well as comprehensive capabilities in clinical design, registration communication, quality systems, intellectual property, business cooperation, and cross-cultural management that align with international standards. How to identify reliable opportunities in changing global industrial patterns and convert Chinese innovation into global market value has become a core question for China’s biopharmaceutical industry as it enters a new stage. Based on this, Frost & Sullivan releases the “2026 China Biopharmaceutical Internationalization Development Blue Book” to systematically outline the stage characteristics, driving factors, main paths, and future trends of internationalization development of Chinese biopharmaceutical companies, and to discuss the long-term value and development blueprint of China’s biopharmaceutical industry in global markets with industry participants, investors, and stakeholders. Overview of Main Contents of the “2026 China Biopharmaceutical Internationalization Development Blue Book” Analysis of the Background of China’s Biopharmaceutical Internationalization Provides an overview of the current state of China’s biopharmaceutical industry and analyzes internal and external driving factors for internationalization development, such as the pressure of medical insurance negotiations and centralized procurement, significant improvements in China’s biopharmaceutical R&D capabilities and quality, and potential in overseas markets. Internationalization has become a strategic development path for Chinese biopharmaceutical companies. General Overview of the History of Biopharmaceutical Internationalization Outlines the development process of China’s biopharmaceutical internationalization, from active pharmaceutical ingredients to generic drugs, to the globalization of innovative drugs, and explains the characteristics, export scale, and representative events of different internationalization stages, thereby drawing up a roadmap for China’s biopharmaceutical internationalization. Development and Trends of Internationalization of Active Pharmaceutical Ingredients and Generic Drugs Analyzes the global market structure of active pharmaceutical ingredients and generic drugs, outlines the export scale, regional distribution, product category structure, and current status of internationalization of Chinese generic drugs, summarizes the competitive advantages of Chinese companies in cost, quality, registration, and supply chain, and predicts future internationalization trends based on representative cases. Current Status and Trends of Internationalization of Innovative Drugs Systematically analyzes the current status, main models, and development trends of internationalization of Chinese innovative drugs across different drug types such as antibodies, chemical drugs, peptides, and CGT. By using representative cases, it compares the applicable scenarios and advantages of overseas licensing, joint development, independent registration and marketing, NewCo, and commercialization partnerships. It also examines the core elements, main challenges, and future opportunities of internationalization of Chinese innovative drugs from aspects such as overseas clinical development, special regulatory qualifications, license-out transactions, overseas approval and marketing, regional access and distribution policies, and overseas team building. Introduction to Internationalized/Planned to Be Internationalized Companies and Internationalization Service Providers The blue book will include partner companies, presenting their business areas, pipeline layouts, technology platforms, and differentiated advantages. It will also show the internationalization development strategies, overseas layout, and practical experience of partner companies, highlighting their global competitive advantages and the core value of their internationalized or planned to be internationalized products. For internationalization service providers, the blue book will display their internationalization business content, internationalization service regions, and representative service company cases, showcasing the service highlights and advantages of internationalization service providers. Highlights from the Previous Conference Review of the Previous Forum: Strengthening Foundations, Navigating Challenges – The 2025 Frost & Sullivan New Investment Forum for Life Sciences Conclsed Successfully! More Summit Information and Consultations New Investment Forum for Life Sciences Event Consultation | Sponsorship Cooperation | Conference Registration 📞 Conference Consultation Hotline: 021-3209-6800 ext. 8672 📧 Conference Consultation Email: gil@frostchina.com

2026 Future Health Industry Conference Conference Background: On June 28, 2026, the 2026 Future Health Industry Conference and Synthetic Biology Innovation Industry Summit with the theme "Symbiotic Synthesis, Mutual Benefit Transformation" was successfully held in Shanghai. The conference was guided by the Shanghai Science and Technology Commission and organized by the Shanghai Synthetic Biology Innovation Center. Academicians, experts, government leaders, leading industry companies, investment institutions, and various industrial innovation entities gathered together to explore cutting-edge technology trends, address challenges in industrial transformation, and build a healthy industrial ecosystem. The goal is to establish a coordinated development pathway integrating "government, industry, academia, research, medicine, application, finance, and services" and continue to support the large-scale and high-quality development of China’s synthetic biology industry. "Synthetic Biology Innovation Transformation Ecosystem Partner" Established: Frost & Sullivan China Senior Partner and Managing Director Yang Xiaocheng Invited to the main forum of the conference, Yang Xiaocheng joined the "Synthetic Biology Innovation Transformation Ecosystem Partner" as a third-party professional service provider. The ecosystem partner network operates on the core principles of "joint technical research, platform sharing, market expansion, and capital investment," bringing together various forces from "government, industry, academia, research, medicine, application, finance, and services" to create a collaborative innovation platform focused on the entire chain of synthetic biology transformation. Frost & Sullivan’s Deep Research Expertise in Synthetic Biology: This summit featured numerous experts and a strong academic atmosphere. Academician Zhao Guoping, Academician Liu Zhongmin, Academician Liu Dehua and other industry academics and leading company representatives delivered keynote speeches. Following this, Yang Xiaocheng, Senior Partner and Managing Director of Frost & Sullivan China, gave a speech based on the "Shanghai Synthetic Biology and Biomanufacturing Industry Development White Paper (2025)" released last year. From a global perspective, he analyzed the current state of the synthetic biology industry, emerging technology trends, and future market opportunities, sharing professional insights on industry implementation, commercialization upgrades, and global expansion. Yang Xiaocheng, Senior Partner and Managing Director of Frost & Sullivan China In his speech at the summit, Yang Xiaocheng pointed out that synthetic biology, as a cutting-edge research paradigm, focuses on the fundamental design and reconstruction of living systems, representing a key breakthrough in the R&D stage. Biomanufacturing emphasizes the large-scale and stable production of technologies, serving as a crucial foundation for the "from 1 to 100" scale-up of the industry. These two fields work synergistically and mutually enhance each other. Currently, synthetic biology is rapidly penetrating core areas of the national economy, covering six key application scenarios: biomedicine, advanced materials, consumer goods, energy, environmental protection, and agriculture. It provides sustainable industrial solutions and strategic support for addressing major challenges such as resource scarcity, environmental governance, and public health worldwide. Under the context of the rapid development of new productive forces, Yang Xiaocheng emphasized that vigorously developing synthetic biology and biomanufacturing industries is not only a strategic opportunity for China to seize global industry leadership but also a key path to promoting technological innovation, achieving high-level scientific self-reliance, and fostering new productive forces. He analyzed the current state and trends of the global and Chinese synthetic biology and biomanufacturing industries from four dimensions: The industry policy and regulatory system continues to improve, and institutional support is being accelerated; Global competition and cooperation are intensifying, making the need for autonomous and controllable supply chains more urgent; Capital market investment becomes more rational and cautious, while product innovation and selection requirements increase; The regional clustering effect of the industry remains prominent, and the industrial ecosystem and supporting systems become increasingly complete. Additionally, Yang Xiaocheng conducted a deep comparative analysis of the global synthetic biology industry development pattern. Synthetic biology has become a strategic high point for countries around the world to invest in. The United States, with long-term national strategic investments, a well-developed innovation ecosystem, and a highly market-oriented capital operation mechanism, remains at the forefront of the global synthetic biology and biomanufacturing industry. The UK, as one of the core sources of synthetic biology research and industrialization, has a strong research foundation, stable funding, and systematic policy support. With the adjustment of regulations after Brexit, it has developed a unique industry development path. Based on a deep analysis of the industry development paths in European and American benchmark regions, Yang Xiaocheng summarized four key insights that provide important references for the strategic layout and high-quality development of China’s synthetic biology industry. When choosing an industrialization path, we must pay great attention to the top-level design of the business model and carefully plan high-value sectors. We should actively guide innovation entities to focus on high-value areas such as medical health, green materials, and high-end components, avoiding low-end scale competition in cutting-edge technologies, so as to truly leverage the technical premium and disruptive potential of synthetic biology. The construction of regulatory frameworks should emphasize stability and predictability. Clear rules are more important than rapid approvals. We need to establish a classified, scientific, transparent, efficient, and internationally compatible regulatory system to provide clear access paths and development expectations for new products and technologies, thereby stabilizing market confidence, reducing compliance costs, and effectively stimulating innovation vitality over the long term. We must accurately identify and overcome the core bottlenecks from the laboratory to the factory. In particular, pilot scale up and process validation have become common obstacles to the transformation of many excellent results. By learning from international experience, through the establishment of open and shared pilot platforms, demonstration lines, and industrial collaboration networks, we can provide key infrastructure support for innovation enterprises, systematically overcoming the "last mile" of industrialization. The development of synthetic biology essentially depends on an open, collaborative, and talent-driven innovation ecosystem. We need to build a full-chain collaboration mechanism spanning "basic research, technology development, industrial transformation, and market application," strengthen deep integration of industry, academia, and research, and protect intellectual property rights. At the same time, we should attract and cultivate top talents with multi-disciplinary backgrounds in biology, engineering, and data to form a sustainable innovation cycle. In summary, the future development of China’s synthetic biology industry cannot be limited to mere technological catching-up. It requires systematic and comprehensive planning from multiple dimensions such as strategic choices, regulatory science, industrial foundation, and ecosystem construction. By comprehensively addressing the shortcomings of industrial development and optimizing the industrial development pattern, we can help China build core advantages in the new round of global bio-economy competition and develop a distinctive development path that suits China’s industrial foundation, combines innovation vitality, and is sustainable. Frost & Sullivan has long been involved in global cutting-edge technology fields and continuously conducts frequent and systematic in-depth industry research, accumulating rich insights into cutting-edge technology and related industry research experience. In August this year, the "Global Synthetic Biology Industry Development Blue Book (2026)" will be launched globally. This white paper relies on in-depth research and collaborative efforts from "government, industry, academia, research, medicine, application, finance, and services" to systematically review the current state of industry development, core challenges, and future trends. It aims to provide professional, forward-looking, and structured authoritative references for government decision-making, institutional investment, industrial layout, and industry development. Therefore, Frost & Sullivan sincerely invites high-quality enterprises, benchmark parks, and industrial platforms from the upstream and downstream of the industry to participate deeply. Through a first-person perspective, they will share how to face existing challenges and capitalize on business opportunities, demonstrating their core competitiveness in business models, technology platforms, advanced processes, and ecological cooperation. These empirical cases will provide authoritative voices and focused dissemination opportunities for cooperative enterprises globally, while also offering references for investors, research institutions, and the industry, attracting upstream and downstream partners to join the enterprise ecosystem. Participating in this white paper project will help cooperative enterprises enhance their brand presence in the global market and support global brand building and product layout. To participate in the cooperation, please long-press and scan the QR code below. We will contact you.

As the Large Model and AI search become widely available, the way users obtain information is undergoing fundamental changes. In the past, brands mainly competed for rankings and clicks on search results pages; now, brands need to enter the realm of AI-generated answers and become sources of information that are cited, recommended, and trusted. Under this change, GEO (Generative Engine Optimization) is becoming a new track for brand growth. GEO is a professional service mechanism based on generative artificial intelligence information processing mechanism. While adhering to laws and regulations, platform rules, and ethical requirements, it combines content governance, technical adaptation, credible source development, and multi-channel collaborative dissemination to structure relevant information, provide credible offerings, and optimize it systematically, thereby enhancing its generative AI engine capabilities in recognizability, understandability, callable nature, replicability, and recommendation adaptability. Currently, while the GEO field is developing rapidly, it also faces challenges such as increasing information pollution risks, variable service capabilities, inconsistent performance evaluation systems, and non-compliant competition that restricts the space for compliant entities. There is an urgent need for industry standards and self-regulation. To implement the national overall plan for digital economy and artificial intelligence development, the China Advertising Association officially launched the standardization work in the GEO field in March 2026. It has formulated industry self-regulation standards and operational guidelines regarding technical capabilities, technical operation norms, service process criteria, compliance management requirements, and performance evaluation systems. The aim is to curb industry chaos at the source and promote a healthy development pattern where good products dominate bad ones. Given the above background, Frost & Sullivan, a global growth consulting company, under the guidance of the China Advertising Association, continues to advance the preparation of the "China GEO Marketing Practices and Compliance Development Report (2026)" and the collection of corporate cases. This report follows the standardization system for the GEO field established by the China Advertising Association, aiming to build a systematic understanding framework for the GEO industry in China. It provides authoritative references for enterprises to understand the value logic of GEO, grasp application directions, analyze market competitiveness, learn from industry practices, and align with the standardization process. We sincerely invite GEO service providers, AI search and content intelligent platforms, brand owners, technology service providers, and ecosystem partners to actively participate, jointly sort out industry practice experiences, analyze development trends, reach industry consensus, and together create a compliant, transparent, credible, and sustainable new ecosystem for GEO development to support the construction of Digital China. Research Content of the Report Based on industrial research perspective and multi-source case studies, this report aligns with the overall standardization system for the GEO field established by the China Advertising Association. It covers five chapters: "Industry Definition and Development Background, Current Status, Marketing Practices and Credible Communication System, Future Development Analysis, Benchmark Enterprises and Product Cases." The report focuses on the definition boundaries, demand side changes, industrial chain operation mechanisms, implementation paths, credible communication and compliance evaluation systems, providing authoritative references for enterprises to understand the value logic of GEO, grasp application directions, analyze market competitiveness, learn from industry practices, and align with the standardization process. Core Research Content: 1. Definition and Development Background of the China GEO Industry Clarify the research boundaries and core characteristics of GEO, outline industry demand background, development history, policy environment, and market potential from 2024 to 2030, and establish a unified analysis framework. 2. Analysis of the Current Status of the China GEO Industry Break down the full industrial chain and upstream, midstream, and downstream application segments, analyze the service chain, value division of labor, commercialization path, and demand side market validation, including the use of AI tools, changes in user search behavior, and the impact of AI on consumer decision-making processes. 3. Construction of GEO Marketing Practices and Credible Communication System Focusing on implementation approaches such as brand AI visibility diagnosis, user intent and scenario identification, content asset optimization, credible source development, and multi-channel collaborative dissemination, analyze directions for credible content, credible sources, credible communication, credible evaluation, multi-party collaborative governance, and evaluation system construction. 4. Analysis of the Future Development of the China GEO Industry Evaluate industry competitive barriers, value upgrading, development trends, and prospects, analyze the commercial and social value of GEO, and provide references for enterprise capacity building and ecosystem layout. 5. Benchmark Enterprises and Product Cases in the China GEO Industry Select representative enterprises and product cases, analyze service models, product capabilities, technical paths, customer scenarios, and implementation effects, extract key industry best practices, and systematically display the differentiated advantages, compliance practices, and market representativeness of enterprises in the GEO field. Value of Participation The "China GEO Marketing Practices and Compliance Development Report (2026)" is compiled and released by Frost & Sullivan and completed under the guidance of the China Advertising Association. LeadLeo as a communication support unit. The report will be widely published through Frost & Sullivan China’s official website, the China Advertising Association’s official website, LeadLeo Research Institute, Wind, Tonghua, Oriental Fortune, and other financial terminals and professional channels. Eligible participating enterprises will have the opportunity to receive a certificate for being included in the "Credible Generative Engine Optimization (GEO) Typical" case of the "China GEO Marketing Practices and Compliance Development Report (2026)", which systematically demonstrates their technical capabilities, service capabilities, customer cases, methodology accumulation, and ecological value in the GEO industry, helping outstanding enterprises enhance their industry recognition, professional endorsement, and capital market attention in the new AI search entrance, and jointly promoting a healthy industry development pattern where good products dominate bad ones. 1. Strengthen Industry Position and Brand Influence : Participate in report research and case co-creation, obtain authoritative third-party research endorsement under association official guidance, and enhance enterprises' professional recognition, compliance image, and market trust in the GEO sector. 2. Gain Industry Insights : Conduct joint discussions on brand needs, AI visibility management, credible communication system, technical paths, commercial models, and compliance evaluation directions, providing references for enterprise product iteration, market strategies, and investment communication. 3. Authoritative Case Exposure and Capital Access : Excellent cases have the opportunity to be included in the report’s benchmark cases, industrial ecosystem map, and series of communication content. Through the China Advertising Association’s official website, Frost & Sullivan China’s official website, LeadLeo Research Institute, Wind, Tonghua, Oriental Fortune, and other financial terminals, as well as over a hundred cooperative media, professional brand exposure will be achieved, precisely reaching the capital market and investment institutions. 4. High-End Industrial Ecosystem Connection : Priority access to research interviews and closed-door discussions, and participation in top industry events such as the 2026 China International Advertising Festival , to deeply connect with brand owners, technology providers, content service providers, investment institutions, and industry experts, expand business cooperation, resource connection, and strategic partnerships, and jointly build a compliant, transparent, credible, and sustainable new ecosystem for GEO development. Participation Methods 1. Application Registration : Enterprises interested in participation please scan the code to fill out the application form, submit basic enterprise information and participation intentions, and obtain the report research framework and case submission requirements. 2. Participation in Research and Exchanges : During subsequent research and exchange activities, submit excellent case materials related to enterprises and products, participate in interviews, discussions, or supplementary material communications, and jointly contribute industry practice experiences to the report writing. Enterprise Case Collection and Publication Plan Targeted Entities for Case Collection : Open to GEO service providers, AI search and content intelligent platforms, brand owners, technology service providers, and ecosystem partners. Relevant GEO industry enterprises are welcome to participate. Case Collection Period : June 1, 2026 – July 31, 2026 (continuous collection) Application and Evaluation of Enterprise Products and Cases : August 1, 2026 – August 31, 2026 Report Release Date : Expected to be released during the 2026 China International Advertising Festival in October 2026. Contact Information Long-press to recognize the QR code for participation in collection

"Ernst & Young Entrepreneur Award" 2026 Launch Ceremony On June 23, 2026, the " Ernst & Young Entrepreneur Award "The 2026 Launch Ceremony was held grandly in Shanghai. Dr. Wang Xin, Global Senior Vice President of Frost & Sullivan, Co-Chair of Asia-Pacific Region, and Chairman of Frost & Sullivan China, was invited to attend the event. During the panel discussion, he had an in-depth conversation with Bo Shunjie, Managing Partner of Ernst & Young Greater China, and Yang Guoping, Chairman of Comfort Express Group, on ‘Strategies for Traditional Industries under the AI Wave’. Dr. Wang Xin shared unique and profound insights from the perspectives of the cutting-edge practices of global professional services organizations and Frost & Sullivan’s over sixty years of industry research. These insights covered the synergy between AI and human intelligence, historical perspectives on the evolution of human cognition, and future key investment areas. Panel Discussion on ‘Strategies for Traditional Industries under the AI Wave’ 01 Embrace AI but do not rely on it: "AI+HI=CI" Hybrid Service Approach Since 2025, the global AI large model industry has officially moved away from annual iteration and entered a new stage of high-frequency quarterly and monthly competition. The accelerated iteration of artificial intelligence has led to the emergence of many new industries while also putting traditional industries under pressure. As we stand at the forefront of industry transformation, whether traditional industries will stick to the status quo and be eliminated by the times, or adapt proactively and transform to thrive, has become the core issue in industry development. In response to the impact of AI on professional services organizations, Dr. Wang Xin clearly stated that AI is never simply replacing humans; instead, it empowers industrial upgrading, liberates human value, and redefines development models. Therefore, he advocates for the “AI (Artificial Intelligence) + HI (Human Intelligence) = CI (Co-Intelligence)” hybrid service model. Through the deep integration of technology and professional judgment, the efficiency and reliability of consulting research can be improved. Under the human-machine collaboration framework, AI can help traditional industries break through their inherent bottlenecks. How to effectively integrate human intelligence with machine intelligence has become a strategic challenge for enterprises. He further pointed out that future industry competition will shift to large-scale, integrated system-based operations, with data as the core asset. In the future, data assets, intelligent technologies, and enhanced human-machine capabilities will become key areas of competition. At the same time, advanced technologies are accelerating toward generalization, and the space for industrialization implementation is continuously expanding. 02 Insights from the Hubble Telescope: Human cognition will experience a significant leap When discussing future investment areas worth focusing on, Dr. Wang Xin used the discovery journey of the Hubble Telescope as an analogy to explain the leap in human cognition and the broad prospects of technology investment. From the design of the blueprint in 1979 to its launch in 1990, the construction took about ten years, costing approximately $1.5 billion (estimated by media in 1990). Since its launch, it has been in operation for over 35 years. Its observations have challenged traditional human understanding of the universe—from the Big Bang to the birth of stars, each discovery reshapes the boundaries of human knowledge. He further explained that each new astronomical discovery shows that “humanity is getting farther and farther from the center of the universe,” revealing significant blind spots in human cognition and the infinite nature of knowledge itself. From the geocentric theory to the heliocentric theory, and then to the discovery that the sun is not the center of the universe, each cognitive correction confirms humanity’s limitations and the eternity of exploration. Dr. Wang Xin believes that AI is fundamentally changing this situation. AI can enhance cognition and break through the limits of human learning ability, enabling significant leaps in human cognition in a short period. He predicts that in the future, brain-computer interfaces will become as common as consumer electronics, providing cognitive enhancement capabilities for humans in a non-invasive manner. Currently, Frost & Sullivan is about to release the “2026 Global Brain-Computer Interface Industry White Paper,” which has attracted nearly a hundred companies to participate, indicating the broad prospects in this field. Dr. Wang Xin, Global Senior Vice President of Frost & Sullivan, Co-Chair of Asia-Pacific Region, and Chairman of Frost & Sullivan China 03 Four Core Areas for the Future: Focus on China, Focus on AI Based on in-depth research on industry trends, Frost & Sullivan will present the “2026 China’s Industrial Development Trends White Paper” for the annual Frost & Sullivan Summit for the fifth consecutive year. Together with FT China, they will select the “Top Ten Chinese Business Cases That Will Impact the Next 50 Years.” Dr. Wang Xin pointed out that there are four core areas worth attention this year. He emphasized that breaking through cognitive boundaries requires support from critical infrastructure, with chips and satellite communication being essential technical foundations. ● Space Science : Represented by SpaceX, the space exploration and satellite communication fields require extensive computing power and chips. The space economy is becoming a strategic area that both China and the US attach great importance to; ● Life Sciences : Biotech breakthroughs driven by AI are transforming the future of human health; ● Computational Science : Fundamental computing power and chip technology are the foundation of all AI applications; ● Artificial Intelligence : AI technology itself will continue to evolve and penetrate various industries. Dr. Wang Xin specifically noted that the coordinated development of these areas requires the deep integration and systematic support of large-scale computing power, advanced chips, and satellite communication networks. Speaking of China’s opportunities, Dr. Wang Xin clearly stated, “China is a cornerstone of world economic development, and there is significant potential for growth in the tertiary and service sectors in the future.” He called on investors to “focus on China, focus on AI.” He specifically cited Nature Index Data shows that the index was previously dominated by U.S. institutions, but now the pattern has fundamentally changed, with Chinese research institutions occupying most seats, highlighting the rise of China’s research capabilities. Frost & Sullivan has rich research achievements in AI, including the continuous publication of the “Hong Kong Stock Market AI Industry White Paper” and the “AI Empowering Various Industries White Paper,” covering Digital Infrastructure, Large Models, Edge AI , Embodied Intelligence, AI Medicine, AI Agents, AI Solutions, and Physical AI key areas. Early research findings and current industry and capital market concerns are continuously aligned. 04 Systemic Competition: The future is a “group war” Dr. Wang Xin analyzed that under the current global competitive landscape, the main economies capable of participating in large-scale systemic competition are China and the United States. Future development will feature large-scale, systematic competition, and only economies with sufficient scale and capability can participate. Under this context, the importance of data has been elevated to an unprecedented level. Frost & Sullivan has nearly 70 years of global and nearly 30 years of Chinese data accumulation, totaling nearly a century, which provides a solid foundation for industry research. At the same time, past advanced technologies are accelerating toward generalization—mobile communication technology has evolved from a scarce resource to a mass consumer product, and autonomous driving technology will follow the same path, eventually becoming a universal technology. Dr. Wang Xin further emphasized that enterprises should adhere to three principles: first, maintain the capabilities of core personnel; second, ensure sufficient cash flow; third, continue to innovate and focus on core business. He pointed out that although a few leading enterprises possess a lot of high-value resources, traditional enterprises still have irreplaceable value in the industrial ecosystem. Frost & Sullivan will work with Ernst & Young to discover, support, and help these enterprises grow. 05 Frost & Sullivan’s AI Practices: KNIT and OIRF For the AI era, Frost & Sullivan builds a complete AI-native cognitive system with “trustworthy knowledge” and “trustworthy delivery” as its two wheels. At the knowledge input side, KNIT (Knowledge Network of Integrity & Trust) serves as enterprise-level cognitive infrastructure. Based on real-world data, research conclusions, structured graphs, third-party verification results, and traceable information sources, it uses six layers of engineering—AI cognitive baseline diagnosis, real-world verification, fact anchoring, knowledge structuring engineering, trustworthy content dissemination, and continuous monitoring and cognitive consolidation—to weave scattered unstructured information into a standardized knowledge system that can be understood, referenced, and reused by AI. This helps enterprises gain control over cognition in the AI era and avoid systematic risks such as data poisoning, algorithm hallucinations, and cognitive dilution. At the outcome output side, OIRF (Open Industry Research Format) proposes a three-layer architecture with presentation layer, reasoning layer, and version layer. It structures key facts, judgments, evidence, sources, assumptions, responsible persons, and AI participation processes in reports. With five values—white-box, auditable, collaborative, evolvable, and AI-native—each key conclusion can be traced back to its source and responsible person, achieving a paradigm shift from “delivering reports” to “delivering research assets.”

The rapid development of modern medicine has significantly extended human life expectancy. However, the prolonged "lifelong disease management period" has become a challenge faced by global society. As life expectancy is no longer the sole measure of health well-being, how to increase healthy life expectancy through scientific interventions has become an urgent issue in the field of healthcare. Currently, traditional medical systems often exhibit a "reactive" approach, with resources focused on passive management at the downstream stage of diseases. Systematic interventions targeting the "aging process" itself are still lacking in the early stages of life. Longevity medicine is in a critical phase of transitioning from frontier research to clinical practice. Based on consensus, the industry still needs a practical implementation path. In order to transform intervention strategies into standardized clinical practices and establish sustainable business models, Shiguangpi has jointly established a collaboration with Frost & Sullivan, to launch the "2026 Global Longevity Medicine Interventions and Business Implementation Guide" compilation project . We are shifting our research focus from model exploration to standardized "practical guidelines," thoroughly analyzing the technical implementation and service delivery pathways of longevity clinics. Meanwhile, this Guide will rely on Frost & Sullivan and Shiguangpi’s global professional distribution network, to be released simultaneously in Chinese and English, aiming to promote the value recognition of innovative achievements in China’s longevity medicine sector among global capital and cutting-edge academia, and enhance the international influence of local practitioners . Frost & Sullivan’s overseas website Shiguangpi’s overseas distribution platform and release cases Key features of the Guide This Guide will provide a deep analysis of the current "technical implementation and service delivery" pathways of longevity clinics, including the following key points: ● Global longevity industry map and market size assessment Integrating global market data, comparing and analyzing the maturity levels and policy access differences of longevity industries in different regions such as the US, Europe, China, and Middle East, and quantifying the real size of the longevity technology market. ● Evolution of MATERNAL AND INFANT anti-aging demands and industry policy environment Summarizing MATERNAL AND INFANT anti-aging needs, exploring how longevity medicine fills gaps in traditional medicine, focusing on domestic regulatory trends, and outlining the access paths under current compliance frameworks. ● Investment logic and value evaluation system of longevity medicine Analyzing capital preferences for different technical approaches, establishing an investment evaluation model based on research certainty and commercial potential, and assessing the valuation trends and industrial integration patterns (such as mergers and acquisitions, IPOs) in the longevity sector. ● Systematic classification of aging assessment and intervention technologies Including complete technical solutions from DNA methylation clocks to regenerative medicine, physical devices, and targeted nutritional supplements. ● Commercial implementation and hierarchical configuration recommendations for longevity clinics Providing hierarchical configuration models for institutions of various sizes, including specific software and hardware purchase lists, talent allocation, and standard operational processes. ● Case sharing Using test assessments, core raw materials, and real cases of physical clinics to demonstrate the actual performance of cutting-edge technologies in practice. Quick overview of the core outline Related cooperation requirements To turn visions for future longevity medicine into real, feasible business practices, we are now actively recruiting partner organizations and case studies. The candidates include (but are not limited to): Top-tier hospitals with "longevity/anti-aging" outpatient services, private longevity clinics; High-end health check-up centers or traditional consumer medical institutions seeking business expansion and having initially implemented a "longevity diagnosis and treatment integration" model; High-tech enterprises possessing cutting-edge aging detection technologies (such as multi-omics early screening, DNA methylation, etc.) or aging clock algorithms; Digital SaaS platforms focused on longevity health data management, risk assessment models, and full life cycle follow-up; Core R&D manufacturers in the nutritional supplements market, prescription anti-aging drug market, and bio-based hormones; Producers of anti-aging physical devices (radiofrequency, optoelectronic, hyperbaric chambers), cell therapies, and bio-functional material R&D and application companies; Enterprises whose products, technologies, or services have clear scientific theories and clinical data support, adhering to evidence-based medicine principles; Business delivery models with clear logic, good replicability and scalability, and willing to provide real, non-confidential business practices and operational data as analysis cases. Participation and contact information The compilation work of the "Global Longevity Medicine and Clinic Implementation Guide" for this year has been fully launched. We sincerely invite relevant units and high-quality enterprises to participate actively in creating new industry standards. Whether you are a developer of cutting-edge technologies, a practitioner of rigorous science, or a decision-maker in medical institutions seeking transformation and upgrading, we look forward to your participation. When standards are defined by excellent practitioners, they possess the vitality to lead the industry. Given the limited length and number of core cases for the Guide, we will conduct a strict evaluation and selection based on the industry representativeness, commercial implementation maturity, and contact order of enterprises. By becoming a co-constructor, your business model and core technology path will serve as industry benchmark cases, attracting attention from global top capital and high-net-worth clients through the Chinese-English bilingual Guide. 👇 Please scan the QR code below Add the project business representative (When submitting applications, please note: "Company Name + Core Business + Guide Co-construction" so we can prioritize your application and send you a detailed cooperation plan) About LeadLeo: At the beginning of 2019, LeadLeo (TIMEPIE) was established in Shanghai from its base in Fudan University, focusing on longevity technology. It provides services in aging education, testing, and intervention. It is China’s first media platform dedicated to cutting-edge anti-aging technology and industrial empowerment. Through scientific insights, industrial empowerment, and ecosystem connection, LeadLeo helps Chinese enterprises understand trends, avoid risks, optimize strategies, promote innovative development in aging health industry, and empower the Chinese market.

6/18 Latest Event Preview The global economy is entering a period of elevated uncertainty as geopolitical tensions, supply chain disruptions, and inflationary pressures reshape growth expectations for 2026. Ongoing Middle East conflicts are impacting trade flows, energy markets, and business confidence across regions. Join Frost & Sullivan’s economic experts on the evolving global outlook, key transmission channels of risk, and the implications for business planning and resilience strategies in the near term. What you can explore through this webinar: Frost & Sullivan’s Q2 2026 global GDP outlook and regional growth expectations How Middle East conflicts are impacting energy markets, trade routes, and supply chains The resurgence of inflationary pressures from supply chain and energy disruptions Key macroeconomic, trade, technology, and infrastructure risks shaping 2026–2027 Business resilience strategies focused on diversification, flexibility, and risk management Webinar Time Beijing Time June 18, 2025, 11:00 Scan the code to learn more and register for participation Physical AI is accelerating the shift from programmed automation to intelligent, autonomous industrial operations. As manufacturers face rising productivity pressures, labor shortages, and operational complexity, investments in robotics, AI-driven perception, edge intelligence, and autonomous systems are rapidly increasing. However, interoperability gaps, deployment costs, safety concerns, and limited real-world validation continue to slow scalable adoption. This webinar explores the top growth opportunities shaping Physical AI adoption across industrial environments. Key discussion areas include: How Physical AI is transforming real-world automation Where high-value industrial use cases are emerging How enterprises can overcome deployment and integration challenges Why deployment readiness will define long-term competitive advantage Join us to explore the future of intelligent industrial automation. Webinar Time Beijing Time June 18, 2025, 21:00 Scan the code to learn more and register for participation About Frost & Sullivan Global Webinars Established by the globally renowned growth consulting firm Frost & Sullivan, the Growth Council Think Tanks offer a series of professional webinars featuring experts from various industries. The think tanks aim to deeply analyze growth gaps, address challenges, and uncover potential opportunities for innovative transformation within the context of global trends. Frost & Sullivan’s growth strategy experts from around the world will share their practical insights and industry best practices during the discussions, helping participating enterprises and organizations better understand emerging trends, cutting-edge technologies, and consumer expectations, thereby making informed strategic decisions and seizing future growth opportunities. Frost & Sullivan China invites you to join our global experts on this journey of transformational growth. We will assist you fully in identifying, evaluating, embracing, and leading transformative growth prospects!

In 2025, China’s innovative pharmaceutical sector witnessed a long-awaited moment in the spotlight. Leveraging differentiated pipelines such as ADCs, bispecific antibodies, and small nucleic acids, Chinese pharmaceutical firms emerged as key players in global BD activities. The number of license-out deals doubled compared to 2024, with total transaction value exceeding USD 135 billion. Continuing this momentum, the total value of license-out transactions in Q1 2026 surpassed USD 60 billion—nearly half of the annual total in 2025. Hengrui Medicine, Hansoh Pharmaceutical, and BeiGene consistently rank among the top Chinese innovative pharmaceutical companies by market capitalization. Kelun Botai and Kangfang Biopharma are rapidly rising to join the industry leaders. Capital is pouring into China’s innovative pharma sector with unprecedented enthusiasm, fueling its global expansion. Amidst this booming wave of innovation, Jiangxi Biological Products Research Institute Co., Ltd. (“Jiangxi Bio”) has emerged as a somewhat “unconventional” entrant in the Hong Kong stock market. Avoiding popular drug targets and high-risk biotech models, Jiangxi Bio has become the world’s largest supplier of human tetanus antitoxin (TAT) via an emergency injection derived from horse plasma. In 2025, it held 65.8% and 45.8% market shares in China and globally respectively. On June 8, Jiangxi Bio successfully passed the HKEX listing review, introducing a new “antiserum” option to the Hong Kong pharmaceutical sector. The antiserum sector: vast market potential, low competition, and high barriers to entry Antisera are biological products containing specific antibodies or F(ab')2 fragments of immunoglobulins. They offer multi-target protection against diverse pathogens, providing immediate passive immunity with rapid neutralization capabilities and resistance to immune escape. Antisera are vital for emergency treatments involving fast-progressing conditions with narrow treatment windows and high mortality risks, including tetanus, snakebite envenomation, and high-risk rabies exposure. Additionally, given the frequent outbreaks of zoonotic and rare infections, constant mutation of highly contagious viruses like influenza, and emergence of drug-resistant strains such as MRSA, existing therapies fall short in addressing clinical needs—making antisera a critical solution. Currently, antiserum products including TAT have been included in China’s National Medical Insurance Catalogue, Essential Medicines List, and Emergency Drug List. The World Health Organization also emphasizes their necessity in treating infectious diseases. Data shows that in China alone, there are nearly 94.7 million wounds prone to tetanus annually, yet passive immunization coverage remains below 50%. Only about 12% of snakebite victims receive antivenom treatment, leaving a market gap of over one million doses. Meanwhile, tens of millions of people face rabies exposure yearly, but merely 10.5% of severe cases receive appropriate passive immunotherapy. In terms of applications, antisera are used for viral infections, bacterial/toxin-related infections, biotoxin poisoning, and autoimmune disorders. According to Frost & Sullivan data, the global antiserum market is projected to grow sixfold between 2025 and 2035; in China, the compound annual growth rate will reach 21.2% over the same period. Application scenarios and clinical advantages of antisera Given their unique properties, human antisera serve multiple purposes: For viral infections: Antisera utilize polyclonal antibodies (antibody mixtures produced by various B-cell clones targeting multiple epitopes on antigens) to provide immediate immunity. These antibodies bind to multiple pathogen sites, reducing immune evasion. For instance, immunity against rapidly mutating pathogens like influenza lasts roughly six to eight months. Approved products such as antirabies serum deliver instant protection; China authorized COVID-19 antiserum therapy in 2021, adding another therapeutic option. For bacterial/toxin-related infections: Antisera effectively neutralize bacteria and toxins, unlike antibiotics acting on general bacterial processes. Targeted antibody therapies show particular efficacy against tetanus and diphtheria. Biotoxin poisoning: Antisera neutralize harmful molecules in cases of biotoxin exposure (e.g., snake venom). By blocking toxin binding to cellular receptors, they mitigate toxicity effects. Ongoing research is expanding their utility to include anti-pit viper antiserum and anti-bee venom antiserum. In autoimmune diseases, antisera introduce neutralizing antibodies to counteract self-reactive immune responses, thereby reducing inflammation and tissue damage. Polyclonal antibodies neutralize pathogenic autoantibodies or inflammatory mediators, regulating immune activity. Horse anti-thymocyte immunoglobulin, approved in the U.S. since 1981, exemplifies antisera’s role in organ transplant rejection and autoimmune disease management. Beyond robust market growth, the antiserum sector remains a relatively oligopolistic market characterized by low competition and high barriers to entry. Unlike crowded sectors where new entrants proliferate, establishing a complete production chain—from horse breeding, antigen development, host immunization, plasma collection, antibody extraction/purification, to manufacturing and distribution—takes at least 5–10 years. This capability cannot be bought through mere financial investment. What truly sets leaders apart is this complex end-to-end industrial capacity. Though over ten Chinese manufacturers hold licenses for animal-derived antisera, only three possess full-chain capabilities; Jiangxi Bio leads this group. In the human TAT segment, Jiangxi Bio accounted for 65.8% of China’s market share in 2025, while another manufacturer held 34.1%. Only three domestic manufacturers boast full industrial chains: an “irreplicable” competitive moat Unlike competitors focusing on isolated segments, Jiangxi Bio has operated in the antiserum industry for over 50 years, managing every step from horse rearing to sales. Continuous technological upgrades further solidify its end-to-end dominance. Its operations begin in Zhangye, Gansu—a vast region ideal for equine farming. Here, Jiangxi Bio operates China’s largest GMP-compliant horse farm and plasma collection center, housing up to 4,000 horses to ensure stable supply of premium raw materials. Per its prospectus, advanced plasmapheresis technology extracts ultra-pure plasma; annual output exceeded 100 million milliliters in 2024. Midstream involves production processes: raw serum processing, purification, storage, and distribution. Jiangxi Bio maintains GMP-certified facilities for both human and veterinary pharmaceuticals; its human biopharma plant is the first in China to deploy isolator-based aseptic filling systems. Leveraging its comprehensive industrial platform, Jiangxi Bio has built formidable technical barriers. As per Frost & Sullivan data, it is China’s sole manufacturer to employ preservative-free packaging and pasteurization for human TAT. Its proprietary techniques boost average specific activity to 82,000 IU/gp—well above the national standard of 45,000 IU/gp—while adverse reaction rates drop to just 0.03%, far below industry averages. Moreover, Jiangxi Bio is the only global firm developing antisera using recombinant proteins, mRNA, and serum-free antigens. It continues investing in next-gen platforms (recombinant proteins, mRNA, serum-free antigens) and advanced purification methods (caprylic acid purification, ion exchange chromatography, pathogen-specific affinity chromatography). Rather than merely refining existing processes, Jiangxi Bio reimagines R&D via cutting-edge approaches. Its team recently developed a synergistic “one-pot dual-enzyme method” based on molecular mechanisms, significantly enhancing product purity and efficacy—a breakthrough fostering scalable industrial growth for horse-derived antisera. While ensuring product stability and safety, Jiangxi Bio has achieved extensive market penetration via distribution networks spanning over 30 countries/regions and more than 27,000 domestic medical institutions. Its human TAT has retained China’s top market position for 19 consecutive years, accounting for 100% of national exports. Financially, revenues rose from RMB 198 million in 2023 to RMB 235 million in 2025, with adjusted net profits doubling to RMB 113 million. Cash flow remained robust at over RMB 50 million, while debt ratios plummeted from 17.5% in 2023 to 0.2% in 2025. Cutting-edge tech unlocks new horizons for antiserum pipelines Building on its strong fundamentals and financial stability, Jiangxi Bio is poised to capitalize on its platform strengths to expand both human and veterinary antiserum portfolios. Capitalizing on proprietary platforms and end-to-end capabilities, Jiangxi Bio leverages its human TAT “first wave” to broaden offerings, including anti-pit viper antiserum, anti-steppe viper antiserum, and polyvalent snake antiserum, as well as equine rabies immunoglobulin F(ab') 2 In 2025, it secured clinical trial approvals for anti-pit viper antiserum and anti-steppe viper antiserum respectively. Simultaneously, leveraging cost-effective technology transfer, it has cultivated synergistic human/veterinary product lines. Its veterinary portfolio includes equine tetanus antitoxin, pregnant mare serum gonadotropin (“PMSG”), and related hormonal supplements; additionally, it acquired rights to commercialize three novel veterinary drug pipelines. Progress includes porcine spleen transfer factor receiving approval in 2025; chicken bursin injection and recombinant porcine interferon are expected to advance in Q2 2026. Frost & Sullivan forecasts the global veterinary market to reach USD 128.1 billion by 2035, with China contributing USD 23.8 billion during this period. Rising demand for pet healthcare and the global shift toward “reduced antibiotic usage” in livestock further amplify market potential. Conclusion Through strategic utilization of horses, specialized antiserum formulations, and a meticulously crafted 50-year-old industrial ecosystem, Jiangxi Bio has established an irreplicable competitive advantage in a vast, low-competition sector. Its uniqueness lies not in chasing ADCs, bispecific antibodies, or small nucleic acids, but in its end-to-end antiserum platform built upon horse-derived polyclonal antibodies/F(ab') 2 fragments—delivering distinct value for biotoxin neutralization and infectious disease treatment. Amidst today’s capital frenzy, Jiangxi Bio—the “first antiserum stock”—promises Hong Kong investors a rare, resilient investment opportunity. Reposting Notice: 1. This article is reprinted from ACN Newswire, which grants our platform authorization to publish it. ACN Newswire and its clients bear full responsibility for the accuracy, authenticity, and completeness of all content (including data and viewpoints). This post serves solely as information dissemination; it does not constitute any offers, recommendations, or commitments. Its contents do not reflect our platform’s stance nor any medical advice or guarantees. 2. Any references to medical technologies, diagnostic/therapeutic methods, disease nomenclature, or efficacy claims must adhere to approval documents issued by national health authorities; actual treatments should follow physician guidance. 3. This text is not intended as promotion or advertising for any drugs or medical devices. For related promotional activities, please verify compliance with medical advertising regulations via original publishers. 4. Our platform assumes no legal liability for any health or financial losses arising from reliance on this content. 5. Should any content violate medical advertising policies or ethical norms, please promptly report it to us for immediate corrective action.

From June 16-18, at Shanghai New International Expo Center, CPHI China 2026 – the Biotechnology Exhibition Area will focus on the core theme of “Independent Innovation + Overseas Markets”, creating a high-level platform for cutting-edge technologies and innovative achievements during the conference. Specifically, Hall W9 will feature a “Cutting-Edge Technologies and Innovation Zone” covering popular areas such as cell/genetic drugs, nucleic acid drugs, antibody drugs, and peptides. It connects pre-clinical research and clinical translation needs, providing a platform for showcasing and exchanging new technologies and new modalities. As a key academic segment of this exhibition, the Drug Development and Technological Innovation Exchange Conference will be held June 16, at the Convention Center – Hall W9 . The exchange conference will include two parallel forums— " "in-vivo CAR-T" "R&D and Delivery Breakthrough Forum" and "mRNA Delivery Optimization and Innovation Frontier Forum" co-hosted by China Pharmaceutical and Health Products Import and Export Chamber of Commerce, Shanghai Bohua International Exhibition Co., Ltd., and TanSi Biotech . Both forums focus on "mRNA delivery systems" "breakthroughs in bottlenecks and next-generation technology routes, as well as the latest explorations and clinical translation challenges of in-vivo CAR-T" to bring together top-level expertise from industry, academia, and healthcare. The goal is to connect the critical link from basic research to industrial implementation, injecting original innovation into the internationalization of biomedicine. Tickets are selling out quickly; we invite industry professionals to join this year’s collaborative innovation and global-connected event! Details of the special meeting Meeting name: "Two Parallel Special Forums: in-vivo CAR-T R&D and Delivery Breakthrough & mRNA Delivery Optimization and Innovation Frontier" Hosts: China Pharmaceutical and Health Products Import and Export Chamber of Commerce, Shanghai Bohua International Exhibition Co., Ltd., and TanSi Biotech Date: June 16, 2026 (all-day meeting) Location: Shanghai New International Expo Center (Hall W9) Attendance: 200+ Scan the code to register "in-vivo CAR-T R&D and Delivery Breakthrough Forum" "Free participation, first come, first served" "Limited seats available; scan the code now to secure your spot" "mRNA Delivery Optimization and Innovation Frontier Forum" "Free participation, first come, first served" "Limited seats available; scan the code now to secure your spot" ① Scan the QR code above to fill in registration information and save the success screenshot (industry chain upstream and downstream groups) ② Final interpretation rights belong to the organizers Agenda Morning "[in-vivo CAR-T R&D and Delivery Breakthrough] Special Session" 10:00-10:30 "Specific delivery of tLNP to T/NK cells" "Advantages of tLNP specific delivery" "Optimization of delivery efficiency for T/NK cells" Dr. Wang Liqun, Chairman, Xingyiong Biotech 10:30-11:00 "Breakthroughs in LNP carrier technology" "and progress in in-vivo CAR-T applications" "Rational design of ionizable lipids and RNA drug delivery" "Development directions of in-vivo therapies" Mr. Zhu Yuchao, General Manager, HanXin Biotech 11:00-11:30 "In Vivo CAR-Tumor" "The next breakthrough in immunotherapy:" "Disrupting immune cell therapy" "Sharing progress in in-vivo CAR-T research using lentiviral carriers" "Current challenges and future prospects of in-vivo CAR-T" Dr. Zhou Guoqing, CEO, Rongrui Medicine 11:30-12:00 "Technology driving new developments in cell therapy with in-vivo CAR-T" "Discussion of advantages and disadvantages of different carriers for in-vivo CAR-T" "Pipeline progress of in-vivo CAR-T" Dr. Chen Limo, Chairman, Queenboat Pharmaceuticals 12:00-12:30 "Analysis of the current state of the in-vivo CAR-T industry" "Current industry situation of in-vivo CAR-T" "Prospects analysis of the in-vivo CAR-T industry" Ms. Li Qian, Executive Director, Frost & Sullivan Afternoon "[mRNA Delivery Optimization and Innovation Frontier] Special Session" 14:00-14:30 "RNA genome modified sequence drugs" "Value of RNA AI large models in drug development" "Coordination between modified sequences and AI models" "Accelerating drug development and optimization" Professor Yang Haitao, Founder, RemiOna 14:30-15:00 "R&D and clinical progress of mRNA immunotherapy drugs" "Regarding HPV-related precancerous lesions" "RG002 delivery system and clinical data" Dr. Zhang Weiguo, R&D VP, Renjing Biotech 15:00-15:30 "AI-driven personalized precision treatment for tumors" "AI enabling personalized diagnosis and treatment decisions" "Precision targeting of tumor neoantigens" Dr. Mo Fan, Co-founder & CEO, Niu'anjin Biotech 15:30-16:00 "AI-driven superbug mRNA vaccine development" "AI screening of conserved antigens to overcome genetic constraints" "Integrating AI and mRNA to enable rapid vaccine iteration" Dr. Fei Caiyi, Co-founder & Vice President, Chengshi Biotech Guest introductions Dr. Wang Liqun has extensive professional skills and research management experience in pharmaceutical and biotech fields in the US and China. He has worked in important management positions at Procter & Gamble, Bristol Myers Squibb, AstraZeneca, andGSK China R&D Centers for nearly 30 years, participating in and leading the research and translation of multiple new drugs. Later, he served as Chief Operating Officer and General Manager of Stem Cell Division at SybiMann Biotech, responsible for the production, pharmacology, and clinical research of cell therapy products. In 2017, Dr. Wang became the founding president of Fosun Kite, leading his team to implement the technology of Yikida, produce and register it for clinical use within three years, making it the first CAR-T product approved by the Chinese FDA. In 2021, he founded Xingyiong Biotech, developing iPSC-derived general-purpose, mass-produced, tumor- and autoimmune disease-treating dual-platform CAR-iNK/CAR-iT cell therapy products, with early products already in clinical validation stage. Dr. Wang has published dozens of scientific papers and monographs throughout his career and obtained multiple national invention patent authorizations. He also holds social positions such as Vice President of the Cell Therapy Research and Application Society of the Chinese Society of Cell Biology and Deputy Chairperson of the CGT Committee of the Shanghai Biomedical Association. He has received honors such as Pudong Pearl Plan Entrepreneurship Leadership Talent and Shanghai White Orchid Memorial Award. Dr. Zhu Yuchao, Co-founder & General Manager of HanXin Biotech, is a Suzhou Gusu Leading Talent and Park Leading Talent. He has authorized or accepted more than ten patents. In 2024, he was named a Young Influencer in the China Biopharmaceutical Industry Innovation List U45, Vice Chairperson of the CBIITA Consortium Cell Therapy Committee, and planner and host of the SAPA China 2025 Cell Therapy Forum. With over 10 years of biopharmaceutical industrialization experience, he helped establish and transfer technology for the first sterile formulation factory in China at Eli Lilly. He also contributed to the launch of China’s first CAR-T cell therapy product and the successful launch of China’s first overseas PD-1 drug. Dr. Zhou Guoqing obtained his Ph.D. in molecular biology from Sweden and has worked as a research scientist in Canada and the US, accumulating solid academic and research foundations. He has over 20 years of experience in new drug research and focuses on the transformation and industrialization of innovative therapies. Dr. Zhou is a serial entrepreneur who founded and sold two biotech companies. He has held key leadership positions such as CEO, Chief Science Officer, and Chairman in enterprises, possessing rich strategic and operational management experience. He also served as Chief Operating Officer of SiBiono GeneTech, participating in the development of the world’s first viral gene therapy drug "Gendicine" based on adenovirus vectors expressing p53 gene, which is milestone in gene therapy. With a deep background across academia and industry, Dr. Zhou invented the new treatment method of in-vivo CAR-Tumor with engineered in-vivo cancer cells and is committed to promoting biological technology innovation and clinical translation, facilitating the application of cutting-edge research results in real medical practice. Dr. Chen Limo studied and worked at Harvard University and Anderson Cancer Center from 2005 to 2021, receiving 16 important awards. Based on his discovery of new CD38 functions, global pharmaceutical companies have developed several new drugs. In 2024, he founded Queenboat Pharmaceuticals, whose development was reported by CCTV. He was invited to the Xinhua News Agency studio to provide insights for the series report "Confidence of the Chinese Economy" from a pharmaceutical industry perspective, with key parts published on Xinhua Net. He is a Top 10 Innovator of the New Era in 2024, Responsible Business Leader of 2024, Shaping the Future Person of the CCTV Era in 2025, and a think tank expert of the China Future Research Association. His company was awarded the "National Brand. Shining World" Key Promotion Brand and Excellent Case of Private Enterprise Technology Innovation. Ms. Li Qian is the Executive Director of Frost & Sullivan China’s medical team, specializing in cell immunotherapy industry. She has extensive knowledge and experience in IPO industry consulting, new product market access, and pricing. She actively participates in corporate investment and financing plans, achieving corporate growth through industry chain resource integration, park implementation, and external promotion, accumulating rich industry experience. Mr. Yang Haitao is a Ph.D. in Medical Genetics from Uppsala University in Sweden, a postdoctoral fellow in Tumor Genetics and Neurogenetics at University of California, San Francisco/Los Angeles, and a researcher in Rheumatology at the School of Medicine, University of California, San Diego. After returning to China, he became a Qianjiang Scholar Distinguished Professor and a researcher at Sun Yat-sen University Shenzhen Research Institute. Currently, he is an industry professor at Southern University of Science and Technology’s Cell and Gene Therapy Research Center. He is the founder of RemiOna (Guangzhou) Biopharmaceutical Technology Co., Ltd., having long been involved in tumor genomics, tumor mRNA vaccines, and RNA large model research. Dr. Zhang Weiguo is the R&D VP at Renjing Biotech, leading the establishment of mRNA purification and multiple analysis methods, responsible for the company’s mRNA technology platform, pipeline expansion, and early research. He is a "Mass Innovation" talent in Jiangsu Province, PI of the "Unveiled Challenge and Leadership" project of the National Innovation Center for Cell Therapy and a key technical project PI in Suzhou. Previously, he was an assistant professor at Lawrence Berkeley National Laboratory and a postdoctoral fellow at University of California, Berkeley, and a Ph.D. in genetics from Iowa State University. Dr. Mo Fan is: "Senior Researcher, Department of Urology, University of British Columbia (UBC), Canada" "Co-founder & CEO, Hangzhou Niu'anjin Biotech Co., Ltd." "Researcher, School of Pharmacy, Zhejiang University" "Selected into Zhejiang Province High-Level Overseas Talent Introduction Program" "Ph.D. in Bioinformatics, Zhejiang University & Washington University, USA" At the same time, Dr. Mo focuses on using computer methods such as AI to explore tumor development mechanisms and develop personalized precision therapeutic drugs based on neoantigens. After returning to China, he led his team to achieve clinical translation of personalized tumor vaccines, obtaining IND approval from both the Chinese NMPA and US FDA. This is the first customized drug in China and the first globally customized drug with dual reporting. His research has been published in 40+ international top journals including European Urology (IF: 24.3), Genome Biology (IF: 17.9), Clinical Cancer Research (IF: 13.8), JAMA Oncology (IF: 33), and Cancer Research (IF: 13.3). He has received the Second Prize of Zhejiang Provincial Science and Technology Progress Award, 16 national invention patents, 2 utility model patents, and 28 software copyrights. Mr. Fei Caiyi graduated with a Ph.D. in Biological Information Science from Zhejiang University of Science and Technology, under Professor Liu Haiyan. He has many years of research experience in molecular dynamics simulation and high-throughput sequencing, and has successfully developed multiple clinical high-throughput sequencing analysis platforms. He has published multiple papers in journals such as science advance and npj vaccines and obtained multiple invention patent authorizations. As co-founder of Chengshi Biotech, he is responsible for identifying, optimizing, and conducting clinical research on mRNA drug targets. He led his team to develop platforms for systematic identification of cross-species immune epitopes,体液 immune antigen design, and mRNA sequence optimization.