Opening Remarks by the Organizers | 2025 Frost & Sullivan China Entrepreneurship Annual Conference and Forbes China Industry Development Pioneer Awards Ceremony

Ni Hao and a very warm welcome to all of you. On behalf of the Board of Directors of Frost & Sullivan, my fellow partners, Dr. Neil Wang and my entire team in China, I welcome you to our inaugural event hosted in collaboration with Forbes. Thank you for taking the time to come and join us today. I wanted to share a few insights for all of you in the audience, which is focused around transformation. I think we saw in the past year that there has been massive transformation happening and coming. I would encourage companies to understand this transformation, and prepare for it. To overcome this challenge, we will significantly collaborate and partner in the future. This trend will continue to increase exponentially in the coming days, months and year.

Hello everyone! On behalf of the Frost & Sullivan Board of Directors, my partner Dr. Wang Xin, and all members of our China team, I would like to warmly welcome you to the 2025 Frost & Sullivan China Entrepreneurship Annual Conference and the Forbes China Industry Development Pioneer Awards Ceremony. Thank you all for taking the time to attend! Today, I would like to share with you insights on "change" — we are living through a global upheaval.

One thing I want to make sure everyone knows is that this transformation is happening globally. Every part of the world is experiencing this change, no matter the industry, no matter the size of the company, no matter the region of the world. This transformation is coming and it's coming at a very fast pace. As an industry consultant and an industry research company, we have been monitoring the reasons, impact, and duration of this transformation. There are 8 strategic imperatives causing this effect. They are related to technology disruptions. We have seen technologies like Artificial Intelligence, quantum computing, data warehousing, etc., all playing a very significant role in how and what we are going to do in the future. We have also seen massive megatrends that are changing the global landscape. These trends are no longer localized; they are global in nature and will impact us in every direction. Similarly, there are huge changes happening in business models. New business models are coming into practically every industry we serve. It is no longer just happening in the business-to-consumer segment; it is also in business-to-business. Therefore, when you look at all this transformation, you also have to understand the geo-political chaos that is impacting the world. You have all seen the impact of tariffs, etc., initiated by the new administration in the US. This will mean new market alliances, new supply chains, etc., that companies will have to consider for the future. This will not stop in the near future. However, with all these transformations, we see new and powerful opportunities emerging before us. These opportunities have always been key to growing economies for governments and business growth for corporates and investors worldwide.

Regardless of enterprise size, industry attributes, or location, this transformation is reshaping the world landscape at an astonishing pace. Industry transformation and collaboration have already occurred and are becoming future trends. As industry consultants and research institutions, we have been tracking their motivations, impacts, and cycles deeply, and have identified several strategic factors driving this transformation:

• Technological Revolution: Technologies such as artificial intelligence, quantum computing, and data warehousing are profoundly reshaping future strategic directions and execution paths;

• Globalization super-trend: The once regional development momentum has evolved into global linkage;

• Business model iteration: From B2C to B2B and then back to B2C, with underlying business logic changing;

• Geopolitical Impact: Triggered by the new US tariff policy, tariff barriers have led to emerging market alliances and supply chain migrations.

So, for every company here, I would say, take advantage of this transformation, take advantage of this change, because change opens up new opportunities that you've never seen before or in the past. Just AI alone will open up so many different opportunities for us in our current business, including new ones in the short term.

These changes will not stop at the present, but the opportunities born out of the crisis are also unprecedented— for governments, this represents a new engine for economic growth; for businesses and investors, it is a strategic positioning battle in the reshaping of the global landscape.

What we are finding is that in order to come up with these new growth opportunities and leverage these opportunities, you have to look at innovation. You have to make innovation at the core of everything that you do in your business. Because innovation gives you hope and, in the process, allows you to tackle some of these big challenges, big issues that are plaguing every company in the world today. Let's make innovation the core of everything we do. Technology is ubiquitous. It's available to everyone in every part of the world. You can now take help of technology to solve the biggest challenges in the world. One thing I can tell you, having traveled to more than 85 countries in the world, worked with business and corporates worldwide, including with governments, I can tell you, people in this room and people across the country of China are in very, very good shape. Your economy, your country, has made significant progress when it comes to leveraging and implementing technology. I remember about 10 years ago, Dr. Neil Wang took me to Nanjing to set up our new office. In Nanjing, I saw two buildings that hosted young entrepreneurs that were building technology solutions by leveraging AI when most of the world did not understand the word artificial Intelligence, China was way ahead of the curve. This is a trend that you will see more and more in China. So, I tell everyone in this room, you are very fortunate. You as a country are doing very well, I believe the China's impact on the global economy will continue to be profound. Very recently, I was in Germany and I can tell you today, every automotive OEM in the world is amazed about the way the China automotive industry is developing. BYD is pretty much in every major European country. And they are showcasing how technology needs to be delivered in a car. They are setting up global standards. Every major automotive OEM is studying and learning from Chinese OEMs. So, what we are going to see is some significant development from companies in China in practically all industries. But one thing I do want to tell everyone in the audience, especially the entrepreneurs, that when you build solutions, you need to be part of an ecosystem. And those solutions must be solutions that are very unique that are simple to explain and that are scalable, that are powerful in terms of its social impact. There has to be a purpose. And this is very important. And I believe that in the future, every major entrepreneur, every major corporation in this part of the world, must also be involved in giving.

For every business present here: in the face of challenges, innovation must be anchored—only by embedding innovation into the genes can we turn challenges into opportunities. I have visited 85 countries around the world and collaborated with businesses and governments from all corners. I can tell you that the people in this room, as well as the entire Chinese people, are very fortunate. As an economy and a country, we have made remarkable progress in utilizing technology. I remember about ten years ago, Dr. Wang Xin took me to Nanjing to witness young entrepreneurs using AI to build solutions. At a time when most people in the world did not understand artificial intelligence, China was already ahead of the curve. I believe that China's impact on the global economy will continue to be profound. Recently, I went to Germany where BYD has made significant development in Europe, and Chinese automakers have redefined global standards. This momentum is spreading to all industries.

In conclusion, I would like to congratulate every company that is being recognized today. I want to thank all our panel of judges who spent an incredible amount of time going through a great deal of detail about your company's metrics, about your achievements, and then finally selecting the companies that will be recognized here today.

Therefore, I would like to make a special recommendation to the entrepreneurs present: when building solutions, please integrate ecosystems, focusing on uniqueness, scalability, and social value. Future leading enterprises will inevitably be practitioners of business in alignment with goodness.

Finally, I would like to thank Forbes for partnering with Frost & Sullivan. We have Graham from Forbes here, collaborating with us, and bringing something valuable to this audience and to our country, which I believe will be a significant driver in the industry development you saw earlier on the slide. So, with that, I would like to welcome you all once again. Have a wonderful time. Thank you very much. And I look forward to connecting with all of you as the day progresses. Xie Xie.

Finally, congratulations to all the award-winning companies! We would like to thank the judging panel for their professional dedication. It was their hours of careful review that led to today's award-winning colleagues. We also want to express our gratitude to our partners: Forbes China, especially Mr. Yan Gewen who is present today and has provided strong support. Let us work together to advance the industry! Thank you all again for coming and joining us in this grand event. At the same time, we look forward to having in-depth exchanges with you. Thank you!

Distinguished entrepreneurs and experts, good afternoon!

Distinguished entrepreneurs and experts, good afternoon!

On behalf of the expert panel, I would like to speak on behalf of the Frost & Sullivan China Industry Development Leaders Selection Organizing Committee and with the trust of the judging experts.

On behalf of the Forbes and Frost & Sullivan China Industry Development Leaders Selection Committee, and with the trust of the judges, I am honored to deliver a speech on behalf of the panel of judges.

The selection experts from multiple fields are industry leaders. They listened attentively to the performance introductions of each shortlisted entrepreneur by the recommendationers and highly recognized the entrepreneurs' struggle and achievements.

The judges, who come from various fields and are all leading figures in their respective industries, have carefully listened to the introductions of the achievements of each shortlisted entrepreneur. We highly recognize the entrepreneurial journeys and accomplishments of these individuals.

We believe that the '2025 Forbes China Industry Development Leaders' selection has very positive practical significance. China is a major manufacturing country in the world, renowned for its comprehensive and richest industrial chain, including both traditional and emerging industries. Looking at the industries of the recommended entrepreneurs, there are those in biomedicine, new energy, information technology, as well as catering, logistics, pet care, consulting, and even a cryo-electron microscopy service center dedicated to structural biology research. It can be said to represent the pinnacle of high-tech service industries. There are only things that are unimaginable and unattainable; there are no products or services that cannot be bought or ordered. These entrepreneurs are like pearls on the industrial chain, shining on their own and representing and leading the innovative development of various industries.

We believe that the 2025 Forbes China Pioneer Innovators in Industry Development Selection has very positive and practical significance. China is a global manufacturing powerhouse, renowned for its comprehensive and diverse industrial chains, which include both traditional industries as well as emerging ones. Looking at the industries of the nominated entrepreneurs, we see a wide range, from biopharmaceuticals, new energy, and information technology to the catering industry, logistics, pet services, consulting, and even specialized services like cryo-electron microscopy centers for structural biology research, which represent the pinnacle of high-tech service industries. In China, there is nothing that cannot be bought or ordered virtually; the only limitations are imagination and knowledge. These entrepreneurs are like pearls on various industrial chains, each shining brightly while representing and leading the innovative development of their respective industries.

It now appears that simply ranking entrepreneurs by their wealth does not fully reflect the innovative, developmental, and growth characteristics of these industries and services, especially their trend-setting and leading qualities. More elements should be used to describe, reflect, and evaluate them. This is because it is a world-class and historic phenomenon.

It now appears that ranking entrepreneurs solely by their wealth cannot fully reflect the characteristics of innovation, development, and growth potential of these industries and service sectors, especially their trend-setting and leading nature. A more comprehensive set of criteria is needed to describe, reflect, and evaluate these phenomena, as this is a world-class and historic occurrence.

The Forbes and Frost & Sullivan jointly conduct the China Industry Development Pioneer Awards, which possess undisputed authority, seriousness, and a solid business foundation.

Forbes and Frost & Sullivan's joint initiative to conduct the China Pioneer Innovators in Industry Development Selection is undoubtedly authoritative, highly rigorous, and backed by a strong foundation in expertise.

Although today's society has seen very active and surging waves in cutting-edge technology industries such as AI, new energy, biomedicine, and new materials, which are changing rapidly, there are still deep and stable basic needs in human society that are becoming more profound. For example, the pursuit of survival, health, and longevity requires various industrial chains represented by the service industry.

Despite the fact that today's society is witnessing very active and surging waves of innovation in frontier technology industries such as AI, new energy, biopharmaceuticals, and new materials, which are constantly changing, there are still deep and stable fundamental needs in human society that are becoming increasingly profound, such as the pursuit of survival, health, and longevity. These needs are supported by various industrial chains, represented by the service sector.

Medicine is very much about pursuing cutting-edge research, but for anyone suffering from a particular disease, no medical specialty is a minor field that does not require development and innovation. In hospitals, it is not only the oncology department that is important; if you have skin disease, the dermatology department is important; if you have eye problems, the ophthalmology department is important.

Medicine may pursue the cutting-edge, but for any individual suffering from a particular disease, no medical specialty is a minor department that does not require development and innovation. In a hospital, it is not just the oncology department that is important. If you have a skin disease, the dermatology department is crucial. If you have an eye condition, the ophthalmology department is vital.

Innovation, leadership, and growth are the tenets of the industry development leader selection, aimed at encouraging and promoting the extension and strengthening of the industrial chain, and driving industry development is the original intention of the selection. It is hoped that the selected individuals will continue to carry forward the spirit of innovation and growth, leading the industry to continuous development.

Innovation, leadership, and growth are the tenets of the Forbes China Pioneer Innovators in Industry Development Selection. Encouraging and promoting the extension and strengthening of industrial chains and driving industry development are the original intentions of this selection. We hope that the selected individuals will continue to carry forward the spirit of innovation and growth and lead the continuous development of their industries.

Wish the selection activity for industry leaders in China continues to improve, expanding its influence day by day, and becoming a descriptor and promoter of industry development in China.

We wish the Forbes China Pioneer Innovators in Industry Development Selection continued improvement and expansion of its influence, becoming a descriptor and promoter of China's industry development.

I would like to take this opportunity to express another perspective from the standpoint of the China Hepatitis Prevention and Control Foundation. Entrepreneurs interact with social consumers through their products, Forbes assesses entrepreneurs' wealth, while Frost & Sullivan participates in corporate and social interactions through professional consulting. In today's era of Made in China and service development, there is also an important aspect: the social responsibility of enterprises, including public welfare and charitable activities. The China Hepatitis Prevention and Control Foundation serves as a bridge and messenger of love between entrepreneurs and the vast number of liver disease patients in our country. Entrepreneurs who are concerned about the burden of hepatitis and related diseases in our country are welcome to discuss any good deeds aimed at aiding liver disease patients and alleviating their suffering with the hepatitis foundation.

Taking this opportunity, allow me to express another sentiment from the standpoint of the China Hepatitis Prevention and Control Foundation. Entrepreneurs interact with consumers through their products, Forbes assesses entrepreneurs' wealth, and Frost & Sullivan facilitates the interaction between enterprises and society through professional consulting. In today's era of China's manufacturing and service development, there is another important aspect: corporate social responsibility, philanthropy, and charitable activities. The China Hepatitis Prevention and Control Foundation serves as a bridge and messenger of compassion between entrepreneurs and the vast number of patients with liver diseases in our country. We warmly welcome entrepreneurs who are concerned about the burden of hepatitis and related diseases in China to discuss any benevolent actions with the foundation to help alleviate the suffering of patients with liver diseases.

Thank you to Forbes, Frost & Sullivan, and all the judging experts!

Thank you, Forbes, Frost & Sullivan, and all the judges!

Distinguished guests, ladies and gentlemen:

Hello everyone!

Distinguished guests, ladies and gentlemen,

Welcome to the 2025 Frost & Sullivan China Entrepreneurs Annual Conference. First of all, on behalf of Frost & Sullivan, I would like to extend my warmest welcome and heartfelt gratitude to every guest present here! Thank you all for taking the precious time off this weekend to come from all over the world to share our glory, to reminisce about old friendships and forge new ones across industries with us.

It is my great honor to welcome you to the 2025 Frost & Sullivan China Entrepreneurs Annual Conference. On behalf of Frost & Sullivan, I would like to extend my warmest greetings and heartfelt gratitude to all of you. Thank you for taking the time to join us from across the world, especially on a weekend, to celebrate excellence, foster friendships across industries, and explore new opportunities for collaboration and growth.

This year's Frost & Sullivan Entrepreneurs Annual Conference is particularly valuable for several reasons. Firstly, it is due to our strategic partnership with Forbes China, which has brought together the top resources and professional teams from both sides in the fields of industry research and media communication, creating a new selection project called 'Industry Development Leaders'. Secondly, it is because the 100 'leading' companies that will gather at the event today make the 'annual gathering' truly a celebration of 'full confidence'.

This year's Frost & Sullivan Entrepreneurs Annual Conference is particularly significant. Firstly, it marks the launch of an exciting new initiative, the 'Pioneer Innovators in Industry Development' project, born from our strategic partnership with Forbes China. This groundbreaking collaboration combines Frost & Sullivan's unmatched expertise in industry research with Forbes China's legacy of leadership in media and global influence, showcasing a shared commitment to identifying and empowering transformative leaders. Secondly, today's gathering brings together 100 of the most pioneering and innovative companies, making this event not only an annual meeting, but a dynamic celebration of confidence in the future of business.

Both Frost & Sullivan and Forbes China Group are industry-leading institutions with a global perspective and a long-term commitment to deeply cultivating the Chinese market. Frost & Sullivan has been involved in industry research for over 60 years, enjoying a high reputation in global capital markets for its in-depth industry insights, rigorous data analysis, and professional consulting services. Forbes China, with its century-long heritage, discovers emerging leaders from a unique perspective, inspiring countless hardworking individuals to pursue their dreams.

Both Frost & Sullivan and Forbes China are organizations with a global outlook and a deep commitment to the Chinese market, each recognized as a leader in its respective field. For over 60 years, Frost & Sullivan has been a trusted authority in industry research, renowned for our rigorous data analysis, actionable insights, and strategic advisory services that have earned us a stellar reputation in global capital markets. Forbes China, with its century-old heritage, is celebrated for its ability to identify emerging leaders and inspire entrepreneurs to pursue their ambitions.

This collaboration with Forbes China allows us to observe the trajectory of business growth and document the evolution of industries through vivid “individuals” entrepreneurs. This not only enriches the Frost & Sullivan 'Full-Service Investment Management' ecosystem but also enables us to showcase more outstanding Chinese industry development leaders to the world. It further unleashes the long-term influence and infinite possibilities of Frost & Sullivan's nearly 30 years of continuous focus on growth, innovation, and leadership best practices.

This partnership with Forbes China allows us to explore the evolution of business and industry through the inspiring stories of remarkable individuals. It enriches Frost & Sullivan's "Total Investment Management" ecosystem and enables us to present a more vivid and compelling narrative of China's Pioneer Innovators in Industry Development to the global stage. At the same time, it reinforces Frost & Sullivan's nearly three decades of commitment to promoting growth, technological innovation, and leadership excellence in China.

Looking ahead, the tide of technology is surging, and market patterns are changing rapidly. However, no matter how times change, the entrepreneurial spirit remains one of the core forces driving social progress.

Looking ahead, the rapid advancement of technology and the ever-changing dynamics of global markets will continue to define the business landscape. Yet, through all this change, one constant remains: entrepreneurship. It is, and always will be, one of the driving forces behind societal progress and economic transformation.

Frost & Sullivan is optimistic about China and the future, especially about the bright prospects for the development of Chinese enterprises. We believe that the exemplary leadership of our pioneers will surely lead the Chinese economy to create more glories on its new journey!

Frost & Sullivan is deeply optimistic about China's future and the bright future of Chinese enterprises. We firmly believe that the pioneering and innovative efforts of leaders gathered here today will continue to set benchmarks for success and lead China's economy to unprecedented heights.

Congratulations again! Thank you!

Once again, congratulations to all of you for your achievements and thank you for being part of this extraordinary gathering.

Distinguished guests: Good day!

Distinguished guests,

Hello, everyone!

I am Graham Earnshaw, Chief Strategy Officer of Forbes China Group. On behalf of Forbes China Group, I would like to express our gratitude to all of you for attending this event! At the same time, I am also very grateful to Frost & Sullivan for their strong support for this event and for their efforts in the launch and advancement of the '2025 Forbes China Industry Development Leaders Selection'.

I am Graham Earnshaw, Chief Strategy Officer of Forbes China Group. On behalf of Forbes China Group, I would like to express our sincere gratitude to everyone for attending this event today. We would also like to extend our heartfelt thanks to Frost & Sullivan for their strong support for this event and for their efforts in the launch and advancement of the "2025 Forbes China Pioneer Innovators in Industry Development Selection."

Today, we gather here with China's most outstanding entrepreneurs and leaders from various industries. Taking this opportunity, we can discuss together about corporate growth and industry development. We have just entered 2025 after a challenging 2024, especially in the past two months or so, when we have experienced more profound and complex changes. On one hand, geopolitical conditions are becoming more volatile, and the pace, extent, and uncertainty of economic globalization adjustments have exceeded expectations; on the other hand, domestic investment and financing, domestic demand, market confidence, etc., in China need more vigorous stimulation and improvement. Moreover, at the recently held 'Two Sessions', the urgency of technological innovation and industrial innovation has also received more attention.

Today, we gather here with the most outstanding entrepreneurs and industry leaders from across China. This is an opportunity for us to jointly explore business growth and industry development. We have just moved from the challenging year of 2024 into 2025, and especially in the past two months, we have experienced more profound and complex changes. On one hand, geopolitical situations have become more volatile, with the speed, extent, and uncertainty of the adjustment of economic globalization exceeding expectations. On the other hand, China's domestic investment and financing, domestic demand, and market confidence all require more vigorous stimulus and improvement. The urgency of technological and industrial innovation was also highlighted more prominently at the recently heldThe Two Sessions of the NPC and the CPPCC.

Currently, challenges from global ecological and business trends are intensifying. These challenges are not only at the enterprise level but also at the industry level—changes in industries and markets are even faster than before. Historical experience tells us that enterprises that can grasp industry changes, especially those that can lead the industry to continuous breakthroughs and innovation, will reap unimaginable benefits.

Currently, challenges from global ecological and business trends are intensifying. These challenges are not only at the corporate level but also at the industry level— the pace of industry and market changes is even faster than the pace of corporate changes in the past. Historical experience has taught us that companies that can grasp industry changes, especially those that can lead industries to continuous breakthroughs and innovations, will reap unimaginable benefits.

On this extremely critical stage, we look forward to seeing outstanding entrepreneurs, especially leaders in various industries, exert greater leadership and innovation, and demonstrate more industry responsibility and social commitment. Today, Forbes China is very honored to be with you to discuss the challenges and opportunities we all face together. We hope everyone can speak freely and share valuable perspectives and ideas.

At this extremely critical stage, we expect our outstanding entrepreneurs, especially the leaders of various industries, to exercise greater leadership and innovation, and to demonstrate more industry responsibility and social commitment. Today, Forbes China is honored to be here with all of you to discuss the challenges and opportunities we face together. We hope everyone will speak freely and share their valuable insights and ideas.

Thank you all!

Thank you all!

In addition, Dr. Wang Xin delivered a welcome speech for the 2025 Forbes China Industry Development Leaders Selection Honors Ceremony.

Distinguished guests, ladies and gentlemen:

Good evening!

Distinguished guests, ladies and gentlemen,

Welcome everyone to Shanghai, an international metropolis with the spirit of "embracing all rivers and pursuing excellence." By the Pujiang River, we will jointly witness the grand event of the 2025 Forbes China Industry Development Leaders Selection. First of all, please allow me on behalf of the selection organizers—Frost & Sullivan—to extend our most sincere gratitude and warmest welcome to all entrepreneurs and all the guests present!

Welcome to Shanghai, a vibrant international metropolis renowned for its spirit of inclusivity and pursuit of excellence. Tonight, by the banks of the Huangpu River, we gather to witness the grand celebration of the 2025 Forbes China Pioneer Innovators in Industry Development Awards. First and foremost, on behalf of the organizers—Frost & Sullivan—we would like to extend our deepest gratitude and warmest welcome to all the entrepreneurs and distinguished guests present here tonight.

The words 'lead' and 'create' may seem simple, but they contain profound meanings and power.

The two words, "Pioneer" and "Innovation," may seem straightforward, but they carry profound significance and immense meaning.

In an era where technology is changing rapidly, entrepreneurs who can lead trends, dominate industries, and steer the future are not only at the forefront but also the pillars of society.

In this era of rapid technological advancement, entrepreneurs who lead trends, shape industries, and navigate future opportunities are not only the leaders of their fields but also the pillars of progress.

In the face of an extremely competitive market, entrepreneurs who can continuously break through in technology, product, model, management, and other aspects to achieve differentiated success and continuously inject new vitality and momentum into the market are trendsetters as well as disruptors.

In the face of increasingly competitive markets, those who continuously break through in areas such as technology, products, business models, and management, and achieve distinctive success while injecting fresh vitality and new momentum into the market, are both pioneers and groundbreakers.

In recent years, industry leaders and innovators have continuously crossed boundaries and integrated with each other, giving rise to new productivity and possibilities. Resources and technologies coexist and win-win situations are created, constructing an anticipated future industrial landscape.

In recent years, industry leaders and innovators have increasingly transcended boundaries, driving new sources of productivity and possibilities. Through the synergy of resources and technologies, they have created a promising vision of future industries where collaboration and mutual success flourish.

"Leading" and "creating" are precisely the epitome of the vibrant entrepreneurial spirit in China. Tonight, entrepreneurs share a common name—leaders and creators; and we are honored to give a thumbs up to these 55 vivid interpretations that embody this resounding title!

"Pioneer" and "Innovation" are indeed the most vivid expressions of entrepreneurship in China. Tonight, every entrepreneur here shares a common title: Pioneer Innovators. And we are deeply honored to celebrate the 55 diverse and inspiring representations of that title.

Now, let us raise our glasses together to congratulate all the pioneers in Forbes China's industry development! Pay tribute to you! We wish that in your future endeavors, you will continue to lead the industry, create value, bravely take on responsibilities, and contribute 'pioneering' strength to the vigorous development of China's economy!

Now, let us raise our glasses together to congratulate all the Forbes China Pioneer Innovators in Industry Development! We wish you continued success in the future, as you lead industries, create value, and shoulder responsibilities, contributing your trailblazing power to the vibrant development of China's economy.

Cheers! Thank you all!

Cheers! Thank you all!