The 2nd New Investment Expo 2023 and the 17th Frost & Sullivan Global Growth, Innovation and Leadership Summit were held again at the 'World Salon' in Shanghai from September 27th to 28th, 2023. On September 28th, the 2023 Frost & Sullivan Global Awards for Growth, Innovation and Leadership, Asia-Pacific and China were grandly announced at the Frost & Sullivan Life Sciences New Investment Summit Forum.   Based on recent research and analysis of China's digital healthcare marketing and physician platform markets, as well as studies and evaluations of related companies in the industry, the globally renowned growth consulting firm Frost & Sullivan (Frost & Sullivan, abbreviated as Frost & Sullivan) awarded Shanghai Meis Medical Technology Co., Ltd. (hereinafter referred to as 'Meis Medical') the 'China Digital Marketing Leadership Award', which was presented by Dr. Wang Xin, a global partner and Chairman of Greater China at Frost & Sullivan, to Mr. Fan Jie, Co-CEO of Shanghai Meis Medical Technology Co., Ltd. Frost & Sullivan awarded Meis Medical the 'China Digital Marketing Leadership Award' Dr. Wang Xin presented the award to Mr. Fan Jie, Co-CEO of Meis Medical   One of the largest online professional physician platform operators in China Meis Medical was established in 2012 and is headquartered in Shanghai, China. As one of the largest online professional physician platform operators in China, Meis Medical uses big data and artificial intelligence technologies to connect doctors, patients, and pharmaceutical and medical device enterprises, empowering the healthcare ecosystem and improving healthcare quality.   Its services include physician platform solutions, real-world research solutions, precision omnichannel marketing solutions, APO innovative digital marketing solutions, and hospital digital research platform solutions, covering pharmaceutical marketing consulting, medical affairs empowerment, multi-channel academic dissemination, and other specialty services. It provides pharmaceutical and medical device enterprises with one-stop digital solutions for medicine, market access, and dissemination. Meis Medical's medical expertise and research support capabilities are highly recognized in the industry, and it has been empowered by cutting-edge technologies such as big data and artificial intelligence, enabling it to quickly perceive and capture industry trends in R&D and collaboratively promote the efficient development of various business segments.   Professional content output for physician platforms, safeguarding the development of physicians at all stages of their careers The Meis Doctor Platform provides professional content push for physicians, medical institutions, as well as healthcare professionals and life science professionals. Meis Medical's leading medical academic knowledge and research support capabilities have formed a unique influence barrier for the physician group in the industry. As of June 30th, 2023, the platform has approximately 3 million registered physician users, with an average monthly active user of about 2.8 million in 2023. Thanks to the professionalism of its content output and precise push targeting user research areas, users can obtain the latest developments in research fields from mobile and computer terminals in a timely manner, cultivating users' habit of using the platform. Registered physician users with associate chief physician or above titles on the platform account for about 72% of the latest statistics of associate chief physicians or above titles from the National Health Commission, achieving wide coverage for senior Chinese doctors. Senior doctors have a high influence in the healthcare ecosystem and can promote the approval of innovative pharmaceuticals and medical devices, conduct clinical trials to expand indications, explore optimized treatment methods for diseases, and use their influence for academic promotion.   Precision omnichannel marketing solutions, addressing industry pain points based on big data and professionalism Meis Medical's precision omnichannel marketing solutions can provide full-channel multi-modal precision marketing plans for all stages of the lifecycle of innovative drugs or medical devices. Traditional marketing has pain points such as high costs and limited reach, insufficient marketing content production capabilities, and low efficiency in medical decision-making. In contrast, digital methods can bring higher convenience to marketing and more accurate target group information delivery. Relying on the efficient driving ability of 'medical academia + digitalization' of the excellent doctor platform and strong professional content output capabilities, Meis Medical can fully explore the academic highlights of pharmaceutical products, analyze clinical application differences between different products, accurately match patients, enhance rationality in medication use, and fully reflect the clinical value of pharmaceutical and medical device products.   Real-world clinical research (RWS) solutions, helping with the post-marketing clinical application promotion of innovative drugs and medical devices Currently, there are mainly three types of RWS solutions, including RWS based on physician platforms, RWS based on CROs, and RWS based on big data. Compared with other categories, RWS based on physician platforms has the advantages of more flexible service plans and lower costs. Meis Medical's strong medical academic support team and professional project operation team can provide one-stop services for sponsors, including research strategy and plan design, full-process project operation management, consultation and statistical analysis by internal and external statistical experts, publication strategy and support for research results. In addition, RWS research results can reflect the application of pharmaceutical and medical devices in the real-world environment, assist in safety and effectiveness evaluation, expand the indication scope of pharmaceutical and medical device products and accelerate the commercialization process of products. Combined with Meis Medical's digital marketing capabilities, it can further accelerate the promotion of pharmaceutical and medical device products among the indicated population.   APO innovative digital marketing solutions, empowering innovative drugs to grow rapidly In response to industry pain points such as high commercialization costs and long cycles for innovative drugs and medical devices, Meis Medical's APO innovative digital marketing solutions provide three innovative service models: iDocEco Specialist Doctor Diagnosis and Treatment Collaboration Platform - precisely linking specialists in different disease areas across the country, efficiently promoting innovative drugs, and accelerating the expansion and penetration of innovative drugs; iPatFlow Patient Full Journey Management Service - providing convenient diagnostic tools, patient referral support, and innovative drug consultation services for doctors on the iDocEco platform. It helps doctors quickly screen and diagnose patients, enabling patients to obtain innovative drug treatment as early as possible; iMarkAcce Academic Marketing Accelerator - providing academic research topic services for experts on the iDocEco platform to verify the effectiveness and safety of innovative drugs, accelerating the understanding and familiarity of the unique clinical efficacy of innovative drugs by experts, and promoting standardized treatment.   Hospital digital research platform solutions, efficiently enhancing hospital clinical research capabilities and output Meis Medical has created a leading hospital clinical research empowerment product - the Hospital Digital Research Platform Solution, through its excellent medical academic capabilities, advanced medical big data technology, and rich clinical research service experience. The business covers the construction of the hospital's scientific research big data center, construction of specialized disease databases, real-world research, scientific research talent cultivation, refined scientific research management, clinical research services, and scientific research achievement transformation, providing one-stop solutions for hospitals to enhance their scientific research capabilities and promote achievement output.   About the 2023 Frost & Sullivan Life Sciences New Investment Summit Forum The 2023 Frost & Sullivan Life Sciences New Investment Summit Forum was held on September 27th - 28th with the theme 'New Directions for the Future & Forging Ahead'. It gathered more than 30 industry leaders, life science enterprises, investment institutions, and professional service institutions, focusing on new investment and financing opportunities in life sciences, and jointly discussing the capital and industrial forces for enterprises to navigate through cycles. About the Frost & Sullivan China Leadership Award The Frost & Sullivan China Leadership Award is an acknowledgment of an enterprise's outstanding performance and achievements in professional medical content output, market potential, customer service, brand, etc. The Frost & Sullivan team nominated a group of competitive outstanding enterprises to the independent judging panel through methods such as in-depth interviews, industry analysis, and secondary research. The independent judging panel composed of third-party investment and financing experts, financial experts, bankers, and well-known listed entrepreneurs conducted strict evaluations on the enterprises nominated by the Frost & Sullivan team and decided to award the 'China Digital Marketing Leadership Award' to Meis Medical.  

2025 Economic Outlook Conference On February 14, 2025, the Zhuhai Shanwei Chamber of Commerce grandly hosted the "2025 Economic Outlook Conference and Tungsten Industry Chain Industry Analysis Conference" at the Renheng InterContinental Hotel in Zhuhai. The conference gathered elites from government, enterprises, academia, representatives of friendly business associations in the Guangdong-Hong Kong-Macao Greater Bay Area, and industry professionals to explore new drivers for economic development, discuss new economic trends, and empower new industrial development. Lou Lei, Executive Director of Frost & Sullivan's Greater China region, was invited to attend the event and analyzed the development trend of the entire tungsten industry chain from an industry perspective. Lou Lei stated that tungsten is a rare metal widely used in communication electronics, machinery manufacturing, aerospace, optoelectronics, military industry, and other fields due to its high hardness and melting point. Due to the global scarcity of tungsten resources, their irreplaceability in industrial applications, and their increasing importance in national economy, national defense construction, and high-tech industries, its strategic position is very prominent. Lou Lei, Executive Director of Frost & Sullivan's Greater China region   Lou Lei pointed out that the distribution of tungsten ore resources around the world is uneven, with major tungsten deposits mainly located in the Circum-Pacific mining belt, followed by the Mediterranean and European regions along the Atlantic coast, with a small portion scattered in the hinterlands of Asia, Europe, America, and Africa. Kazakhstan is located in Central Asia and is the world's largest inland country, with an economy mainly based on oil, natural gas, mining, coal, and agriculture and animal husbandry. Its processing industry and light industry are relatively backward, and most daily consumer goods rely on imports. It has very rich natural resources and a relatively complete range of mineral types. Kazakhstan's industrial sector is one of the main economic drivers for its macroeconomic growth. With the continuous development of Kazakhstan's industrial sector, it is expected that the mining industry will face a favorable development environment. In addition, the joint construction of the "Belt and Road" has injected new vitality into China-Kazakhstan cooperation, promoted changes in Kazakhstan's economic policies, continuously raised bilateral relations to new heights, and deepened and solidified cooperation in various fields such as politics and economy, benefiting the people of both countries. He said that the origin of tungsten metal in China can be traced back to the early 20th century, going through four development periods, including: Industry Enlightenment Period (early 20th century - 1950s) : Tungsten concentrate production was basically manual, and the tungsten smelting and processing industry was in a blank state. Growth Period (1950s - 1980s) : Mainly exporting raw materials, with relatively weak smelting and processing levels. Turning Point (1980s - early 21st century) : With the improvement of smelting and processing technology levels, China's entire tungsten metallurgy industry gradually stabilized and extended downstream. High-Speed Development Period (early 21st century to present) China has become a major producer of tungsten products. The output and localization rate of high-end products are continuously rising, and more attention is paid to the rational exploitation and utilization of tungsten resources. With the increasing maturity of smelting and processing technology, China is currently a major producer of tungsten products. The tungsten industry chain extends from ore exploration and beneficiation, smelting to the processing and end application of tungsten products. The upstream of the industry chain includes the exploration and beneficiation of white tungsten ore and black tungsten ore. The midstream of the industry chain is ore smelting, producing products such as tungsten concentrate, ammonium tungstate, and tungsten oxide. The downstream of the industry chain is deep processing of tungsten, producing products including high-density alloys and cemented carbide. Tungsten products are ultimately widely used in machinery manufacturing, power resources, petrochemicals, and other fields. From the perspective of the profit chain, the tungsten industry shows a smile curve, characterized by "high at both ends and low in the middle": the profit levels of upstream tungsten ore exploration and beneficiation and downstream high-end cemented carbide are high, while the profit margins of smelting, powder production, medium and low-grade cemented carbide, and tungsten steel and tungsten materials are relatively low. Through the analysis of the upstream of the global and Chinese tungsten ore industry chains, it is found that China is the main producer of tungsten metal, accounting for more than 80% of the global total output. China's tungsten resource reserves and production rank first in the world. However, due to the Chinese government's quota restrictions on tungsten concentrate products and the relatively low operating rate in previous years, China's tungsten production has shown a slight downward trend, with a large future demand for imports. Through the analysis of the midstream of the global and Chinese tungsten ore industry chains, it is found that with the technological transformation and capacity expansion of tungsten product enterprises, most tungsten product production capacity has increased. However, limited by the total quota for upstream tungsten concentrate mining and weakened downstream demand, the output of major products has decreased, and the capacity utilization rate is not high. Through the analysis of the downstream of the global and Chinese tungsten ore industry chains, it is found that tungsten resources are mainly used for the production of cemented carbide. Globally, cemented carbide manufacturing is the main consumption field for tungsten metal. According to statistics from the International Tungsten Association (ITIA), more than 63% of the world's tungsten is used for cemented carbide production, followed by the production of tungsten products, ferrotungsten, etc. Specifically analyzing the end consumption fields of the tungsten ore industry, the largest downstream application field of cemented carbide is cutting tools. Cemented carbide cutting tools have important applications in the field of metal cutting machine tools. National policies strongly support the development of high-end CNC machine tools, thereby increasing the demand for cemented carbide. China's newly installed photovoltaic capacity has continued to grow rapidly in multiple rounds, with the growth rate reaching 148.1% in 2023, and tungsten wire is also the most mature alternative solution for high-carbon steel wires at present. Finally, Lou Lei said that looking back at human history, mineral resources are an important material foundation for the progress and economic development of human society. The advancement of new materials and cutting-edge technologies such as high-tech, aerospace, electronic information, nuclear energy, and new energy today cannot be separated from the development and utilization of mineral resources, and tungsten ore resources play an important role. Due to the global scarcity of tungsten resources, their irreplaceability in industrial applications, and their importance in national economy, national defense construction, and high-tech industries, its strategic position is very prominent. It is an indispensable strategic resource in national economy and national defense construction, thus attracting increasing attention from various countries. The tungsten ore industry will show the following four main development trends: First, Increase investment in tungsten ore exploration, pay attention to black tungsten ore, and at the same time improve the beneficiation technology and process of white tungsten ore : The proportion of white tungsten ore is increasing, and due to over-mining, the decline in tungsten resources is very obvious. In recent years, thanks to continuous investment in exploration, the future development trend of tungsten ore will continue with high investment in tungsten ore exploration, especially focusing on high-grade and easy-to-mine black tungsten ore; Second, Achieve green development of tungsten smelting : Research, promote, and apply new efficient and green tungsten smelting process technologies, as well as comprehensive utilization technologies for tungsten slag and heavy metal pollution prevention and control technologies, to prevent and reduce the generation of hazardous waste from the source; accelerate the digitalization, automation, intelligence of production processes of tungsten smelting enterprises, and the informatization construction of enterprise management to promote the green and high-quality development of the tungsten smelting industry; Third, Enhance the control of tungsten resources Since 2002, through standardizing the approval management of tungsten resource exploration and mining, strengthening the supervision of total mining volume, curbing the disorderly expansion of tungsten ore exploration and beneficiation capacity, improving the contradiction of market supply exceeding demand, slowing down the consumption rate of tungsten resources, and achieving remarkable policy results. Although there are still areas where the implementation effect of the total tungsten ore mining volume control indicators is not satisfactory, it has played an important role in stabilizing market supply, protecting the ecological environment, and maintaining resource advantages; Fourth, Accelerate the transformation and upgrading of the industry ：The intensity of tungsten ore mining in the upstream of the tungsten industry chain is high, the overcapacity of tungsten smelting in the midstream is large, the overcapacity of medium and low-end processing capacity in the downstream is large, the competitiveness and profitability of products are relatively low, the coordinated development of the tungsten industry chain and region is unbalanced, the industrial concentration degree and capacity utilization rate are low, and the overall competitiveness of the industry is not strong. Organizing core technology research and development for high-end tungsten products, improving product research and development capabilities, and expanding the application of tungsten in fields such as aerospace, national defense military industry, nuclear energy, integrated circuits, 5G mobile communication, rail transit, high-end equipment manufacturing, precision processing, etc. is the future development direction.

Frost & Sullivan insight Rare diseases refer to those with extremely low incidence rates and a very small total number of patients. Currently, China's two versions of the rare disease catalog include 207 rare diseases, while public data shows that more than 7,000 rare diseases have been identified worldwide, but only 5% have clear treatment plans. It is said that drug development for rare diseases is difficult, and there has always been a saying in the industry of "double ten." What are the special aspects of the "difficulty" in drug development for rare diseases compared to other drugs? In recent years, policies surrounding rare diseases have been continuously introduced, covering multiple aspects from research and development to commercialization. What characteristics are shown by policy-making in accelerating the development of rare disease drugs? What might be the future direction? Can currently popular AI help with the development of rare disease drugs? What other tools are expected to accelerate the development of rare disease drugs?   Wang Peng, Senior Consulting Manager at Frost & Sullivan (hereinafter referred to as "Frost & Sullivan") in Greater China, was interviewed by The Paper to discuss the challenges and opportunities of drug development for rare diseases.     Q: It is said that drug development for rare diseases is difficult, and there has always been a saying in the industry of "double ten." What are the special aspects of the "difficulty" in drug development for rare diseases compared to other drugs? Wang Peng Senior Consulting Manager at Frost & Sullivan in Greater China In terms of clinical research:   Difficulty in target discovery: 80% of rare diseases are genetic disorders, with relatively weak basic research. Many diseases lack mature animal models and research data, and the pathogenesis is complex and heterogeneous, making target discovery and validation extremely costly. Although new technologies such as gene sequencing and AI-assisted analysis have made breakthroughs, their application is still in its initial stages and has not been widely popularized.   Difficulty in data acquisition: The number of rare disease patients worldwide is small, and the diagnostic rate is low, making it difficult to meet the demand for trial samples. Clinical trials often face delays or target adjustments due to insufficient patient recruitment. In contrast, the number of trial samples for common disease drugs is large, allowing for rapid research and development.   In terms of the market:   The investment in drug development for rare diseases is unbalanced with commercial returns. Due to the small market size and limited patient affordability, it is difficult to recover research costs, and companies face the dilemma of "high investment, low return." Although policies provide market exclusivity periods and tax incentives, only a few drugs can break even, and capital tends to invest in common disease areas.   Overall, drug development for rare diseases faces multi-dimensional systematic challenges. Through national special funds and dynamic medical insurance negotiations, research costs can be reduced, payment guarantees can be improved, and cross-border cooperation and data sharing can be promoted, thereby driving innovation and benefiting rare disease patients.     Q: In recent years, policies surrounding rare diseases have been continuously introduced, covering multiple aspects from research and development to commercialization. What characteristics are shown by policy-making in accelerating the development of rare disease drugs? What might be the future direction? Wang Peng Senior Consulting Manager at Frost & Sullivan in Greater China   In recent years, global policies for rare disease drug development have shown systematic, differentiated, and multi-dimensional support, balancing corporate research and development incentives with patient accessibility and promoting the development of this special field.   Before drugs are launched on the market, governments around the world introduce policies to accelerate review and approval: countries generally shorten the market launch cycle for rare disease drugs through "green channels." The EU allows accelerated approval based on small sample clinical trial data. The National Medical Products Administration (NMPA) of China has shortened the review time limit for new rare disease drugs to one-third that of ordinary drugs; after launch, market incentives and risk compensation mechanisms are widely applied, such as countries generally extending the market exclusivity period for orphan drugs.   At the same time, countries provide research incentives and industry chain collaboration: tax exemptions, special funds, and industry-university-research cooperation have become key means. The United States provides federal research grants, the EU sets up special research funds, and local governments (such as Beijing and Shanghai) in China establish rare disease research centers and provide clinical trial bases.   To solve data difficulties, a collaborative network for research and development is accelerating construction: for example, the EU has established 24 rare disease reference networks to integrate medical resources from various countries. The National Medical Products Administration of China has launched a pilot project for real-world data application, supporting cross-border clinical trial data mutual recognition and improving research and development efficiency; the payment system is also continuously innovating.   Looking ahead, the approval process is expected to be further optimized, and international regulatory agencies (such as FDA, EMA, NMPA, etc.) are expected to further coordinate the review standards for rare disease drugs, reduce repetitive studies, and accelerate global simultaneous launch; the transformation of data assetization is expected to promote the formation of cross-border data alliances, using blockchain technology to share data and reduce clinical trial costs. Policy innovation is reconstructing the economic model of rare disease drug development, aiming to achieve patient accessibility, sustainable corporate operations, and affordable medical insurance in the future, providing institutional guarantees for overcoming rare diseases.     Q: Can currently popular AI help with the development of rare disease drugs? What other tools are expected to accelerate the development of rare disease drugs? Wang Peng Senior Consulting Manager at Frost & Sullivan in Greater China   Firstly, AI can quickly analyze large amounts of compounds, predict their interactions with targets, and accelerate drug screening. Secondly, through deep learning, AI optimizes the molecular structure of drugs, improving efficacy and reducing side effects. Moreover, AI analyzes genomic and proteomic data to help discover new drug targets and biomarkers. In addition, AI simulates clinical trials, predicts drug effects and safety, and reduces failure risks. These applications not only improve research and development efficiency but also enhance the safety and effectiveness of drugs.   In addition to accelerating drug development, AI can also analyze clinical symptoms, imaging, and genomic data through data processing and pattern recognition, identify disease information, and reduce misdiagnosis and missed diagnoses. In personalized treatment, AI analyzes individual data, recommends targeted drugs, predicts treatment responses, and dynamically adjusts plans. Moreover, AI helps with rare disease management, including data management, remote monitoring, and patient education. In summary, AI multi-dimensionally improves the precision of medical services, improving diagnosis and treatment effects and patients' quality of life. With technological development, the potential of AI will be further unleashed, bringing hope to more rare disease patients. *This interview has been published in The Paper, with reporter Li Xiaoxiao, and the original title was: 'International Rare Disease Day | Only 5% Rare Diseases Have Clear Treatment Plans, How Can Drug Development Break Through?'  

Declaration Letter Clarification Statement   To the relevant parties: Frost & Sullivan (Beijing) Consulting Limited and its branches (hereinafter referred to as " Our company " ), a professional consulting institution legally registered and operating in accordance with Chinese laws, hereby solemnly declares the following regarding recent public concerns: 1. Explanation of the company name English Name of Our Company "Frost & Sullivan" and its Chinese translation " Frost & Sullivan " in "Sullivan (Frost & Sullivan) " It is an internationally recognized English surname that follows business naming conventions and is intended to reflect the company's global service philosophy. This name has no association with any political figures, government agencies, or specific organizations. 1961 year, Frost & Sullivan by Lore A. Frost and Daniel M. Sullivan Co-founded by two people. 1998 year, Frost & Sullivan Entering the Chinese market and opening its first office in Beijing. 2003 In [year], Frost & Sullivan (Beijing) Consulting Co., Ltd. was officially established. 2. Statement of Irrelevance with the Former US National Security Advisor Our company hereby clarifies that: with 2021 Jack, former US National Security Advisor who took office in · Frost & Sullivan Jake Sullivan Mr. does not have any form of subordinate, cooperative, or related relationship. Both parties are completely unrelated in terms of equity structure, business activities, and personnel management, and our company has never participated in any consulting services involving political entities. 3. Legal Rights Declaration Any unsubstantiated association speculation is false information. In the event of maliciously confusing the identity of entities or damaging our company's reputation, we reserve the right to pursue legal responsibility in accordance with the law. Our company has always adhered to the principles of professionalism, independence, and objectivity, and is committed to providing strategic consulting and market insight services for clients worldwide. We appreciate the long-term trust and support of all sectors of society. This is hereby declared.   Frost & Sullivan (Beijing) Consulting Co., Ltd. 2025 year 2 month 27 day

On February 26, the signing ceremony for the cooperation between Xinhua News Agency's 'China Brand' and Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch (hereinafter referred to as 'Frost & Sullivan') was held in Beijing. It was announced that Frost & Sullivan has officially become a special service partner of Xinhua News Agency's 'China Brand', and the two parties will carry out in-depth cooperation in brand building, market research, corporate empowerment, and other areas. On February 26, Xinhua News Agency “China Famous Brands” held a cooperation signing ceremony with Frost & Sullivan, photographed by Wan Zhongqin.   Frost & Sullivan was established in 1961 and is a global leading growth consulting firm with over 60 years of industry experience. Since entering the Chinese market in 1998, Frost & Sullivan has supported more than 10,000 clients with its powerful database, expert network, and professional consulting services. Its service scope covers multiple areas such as industry advisory, capital operation, market research, brand valuation, and more.   In recent years, Frost & Sullivan has achieved remarkable results in brand value assessment and market position research. Its innovative 'FSBVFrost & Sullivan Brand Value Model' has provided brand valuation services to over 1,000 enterprises, helping Chinese brands achieve growth strategies in both domestic and overseas markets.   On February 26, Zhao Zhi (left), Chief Advisor for 'China's Brand Names' at Xinhua News Agency, presented a partnership certificate to Wang Xin, Global Partner and Chairman of Frost & Sullivan Greater China at the signing ceremony. Photo by Wan Zhongqin   It is reported that in addition to brand empowerment, the two parties will also carry out multi-level cooperation around jointly releasing industry research reports and holding brand forums to help enterprises enhance their brand value and international competitiveness. Su Huizhi, President of Frost & Sullivan and Editor-in-Chief of China Famous Brands magazine, Rong Yan, Vice President of Frost & Sullivan and Deputy Editor-in-Chief of China Famous Brands magazine, Zhao Zhi, Chief Advisor of Xinhua's 'China Famous Brands', Zhou Ting, Director of Creative Planning at Frost & Sullivan and General Manager of China Famous Brands magazine, as well as Wang Xin, Global Partner and Chairman of Greater China at Frost & Sullivan, Wang Chenhui, Managing Partner and President of Greater China at Frost & Sullivan, and Yang Xiaocheng, Partner and Managing Director of Greater China at Frost & Sullivan, attended this event.   Contact number: 021-5407-5836 Contact email: PR@frostchina.com

After the Spring Festival, the computing power market once again became hot, with a significant increase in inquiries for leasing and purchasing computing power equipment. User demand is still concentrated on NVIDIA GPUs. How has the computing power demand brought about by DeepSeek been after the Spring Festival? Has DeepSeek's low-cost training and efficient inference reduced the overall demand for high-end computing chips in the Chinese market? Specifically, has the growth of domestic inference computing power been more noticeable, or is the growth still driven by NVIDIA's high-performance computing power? Compared to before the Spring Festival, what changes have occurred in the vacancy rate of smart computing centers and GPU prices across regions driven by DeepSeek after the Spring Festival? Some respondents revealed that the actual usage rate of many smart computing centers is not high, what are the reasons?   Lu Jing, Partner and Managing Director of Frost & Sullivan Greater China, was interviewed by Cailian News to discuss the impact of DeepSeek on domestic computing power and the development of intelligent computing centers. Q: What is the computing power demand brought about by DeepSeek after the Spring Festival? Has DeepSeek's low-cost training and efficient inference reduced the overall demand for high-end computing chips in the Chinese market? Specifically, has the growth of domestic inference computing power been more significant, or is it still NVIDIA's high-performance computing power that is driving the growth? Lu Jing Partner and Managing Director of Frost & Sullivan Greater China Region   With the advent of the domestic large model DeepSeek-R1, which has achieved outstanding performance with less computing power and at a cost less than one-tenth of the industry's standard, the market has undergone a profound reflection on the traditional logic of 'training models by piling up computing power.' After DeepSeek was launched, the market share of computing giants such as NVIDIA experienced fluctuations and stock prices plummeted. However, overall, the emergence of DeepSeek has not significantly reduced China's demand for high-end computing chips; instead, it has driven structural growth in computing demand through its advantages in efficient reasoning and low-cost training. This can be seen from the recovery trend of the stock prices of computing giants like NVIDIA.   Thanks to the innovative collaborative optimization of algorithms, frameworks, and hardware, DeepSeek-R1 can achieve high-performance results with less computing power, significantly improving computational efficiency. Although DeepSeek has reduced the computing power requirements for training a single model through technical optimization, the overall computing power demand is still rising due to the rapid growth in user volume and the continuous expansion of application scenarios. This phenomenon can be explained by the 'Jevons Paradox': although technological progress has improved resource utilization efficiency, the resulting demand growth may instead lead to an increase in total resource consumption.   The open-source strategy of DeepSeek effectively alleviates the pressure brought about by the shortage of high-end computing chips. By reducing training costs and improving inference efficiency, it has promoted the rapid penetration of domestic chips in the market. Especially in training and inference scenarios, domestic chips have gradually replaced imported high-end products. Against the backdrop of growing private deployment of enterprises and edge computing needs, DeepSeek's low-cost solutions help enterprises reduce their dependence on high-end computing power while increasing the substitution rate of domestic chips and further promoting the popularization of core application technologies with domestic solutions.   However, despite the technological progress of DeepSeek that has reduced the demand for traditional high-performance chips to some extent, NVIDIA's high-performance computing power remains an important component that cannot be ignored in the market. Although NVIDIA's market share in high-end training chips (such as H100 and A100) has declined, due to its strong performance advantages in handling large-scale deep learning training and inference, it still holds a dominant position in the field of high-end computing power. Especially in industries with extremely high computing power requirements, NVIDIA's chips remain the preferred choice for many enterprises and research institutions.   Q: Compared with before the Spring Festival, after the Spring Festival, driven by DeepSeek, what changes have occurred in the vacancy rate and compute card prices of AI centers across the country? Some respondents revealed that the actual usage rate of many AI centers is not high, and what are the reasons? Lu Jing Partner and Managing Director of Frost & Sullivan Greater China Region   After the Spring Festival, driven by DeepSeek's low-cost and efficient inference capabilities, there have been significant changes in the vacancy rate of AI centers and the price of computing cards. The emergence of DeepSeek has not only spurred a surge in the inference market but also helped some previously vacant domestic AI centers gradually resume use. Nevertheless, the overall utilization rate of AI centers still faces considerable challenges, especially in some areas where the actual usage rate remains low.   The main reasons for the low actual utilization rate of intelligent computing centers can be attributed to several aspects. Firstly, an overly optimistic prediction of future computing power demand was a significant factor. Due to the industry's anticipation of rapid growth in future computing power needs, intelligent computing centers were built on a scale that was too large and at a speed that was too fast. However, the actual market demand did not keep up in time, resulting in idle computing resources. Secondly, there is a lag in the supporting construction of the computing power technology ecosystem. While the hardware construction of intelligent computing centers is underway, the related application software, management platforms, and other ecosystems of computing power technologies have not been perfected simultaneously, which has led to ineffective matching and full utilization of hardware resources. Many intelligent computing centers already possess a high level of capability in terms of hardware equipment, but due to the imperfection of the ecosystem, the utilization efficiency of computing power remains low.   In the future, with the rise of domestic technologies such as DeepSeek and the expansion of application scenarios, the utilization rate of intelligent computing centers is expected to gradually increase as technologies continue to improve and the application ecosystem becomes increasingly rich. At the same time, with further clarification of market demand and gradual maturity of the technology ecosystem, the role and value of intelligent computing centers will also become more apparent in the future. *This interview was published in Cailian Finance & Economics News Agency Reporter: Fu Jing, original title: '11 consultations in the morning!' DeepSeek reignites the compute power market, with increased demand for NVIDIA H-series after the New Year

The photovoltaic module recycling industry is facing multiple challenges such as low efficiency, high secondary pollution, and unstable standards. Nevertheless, with the advancement of technological innovation, especially the combined application of physical, chemical, and thermal treatment methods, recycling efficiency and environmental protection are expected to be significantly improved. In addition, policy support and market-oriented operation models will also accelerate the large-scale development of the industry. By improving regulations and incentive policies, the sustainable development prospects of the photovoltaic module recycling industry are promising. What are the current problems in the photovoltaic module recycling industry? What suggestions are there?   Content excerpted from an interview with Wei Li by Frost & Sullivan's China regional executive director Frost & Sullivan (hereinafter referred to as "Frost & Sullivan") has been cited in Economic Daily's internal reference.   Q: What are the current problems in the photovoltaic module recycling industry? Wei Li Executive Director of Frost & Sullivan Greater China   The main issues currently faced by the photovoltaic module recycling industry include low recycling efficiency, high secondary pollution, unstable recycling process standards, and unclear profit margins.   Low recycling efficiency : Photovoltaic module recycling mainly includes components such as photovoltaic glass, silicon wafers, aluminum frames, EVA films, and photovoltaic backplanes. Among them, photovoltaic glass accounts for nearly 70% by mass and has a relatively complex composition structure. Classified by the removal method of EVA, the main dissociation and recycling technologies for photovoltaic modules currently include physical, chemical, and thermal treatment methods. The potential disadvantages of different recycling technologies are also quite obvious. For example, the physical method is vulnerable to the separation and recycling of metals such as silicon, resulting in low material purity; the chemical method is time-consuming and the process is relatively complex; the thermal treatment method has high energy consumption and the technology is not yet perfect. At the same time, a large part of the component disassembly stage before component dissociation is still mainly manual disassembly in the early stage, making it difficult to meet the needs of large-scale component disassembly. These points result in a still low efficiency of the overall photovoltaic module recycling industry chain.   High secondary pollution : From the disassembly, collection, transportation, storage of photovoltaic modules to their disassembly, utilization, and disposal, the industry's pollution problem remains relatively severe. During the disassembly and collection stages, broken parts and dust are likely to be generated; during transportation and storage, oil and hazardous chemicals are likely to be produced; during the disassembly process, attention should also be paid to pollutants in the treatment of batteries, silicone, etc.; during the utilization and disposal stages, heavy metals and toxic gases cause significant pollution. For example, in the disposal of fluorine-containing substances in photovoltaic backplanes, although thermal treatment is currently the best disposal method, the harmless disposal of fluorine-containing products after pyrolysis still requires time and investment in technology research and development to improve efficiency.   Unstable recycling process standards : At present, most enterprises in the photovoltaic module recycling industry have a small number of employees, and there is still a lack of large-scale and efficient recycling systems. At the same time, there are currently many technical paths for photovoltaic modules, and the standard system for photovoltaic module recycling treatment needs to be improved. Unified recycling standards and technical specifications are required to lead the operability and stability of the recycling process.   Unclear profit margins : The photovoltaic module recycling process covers multiple links, and each link requires high investment costs, including technology research and development, intelligent equipment manufacturing, environmental protection process construction, etc. At present, the profit margin for recycling still needs to be developed to achieve the goal of large-scale recycling of waste photovoltaic modules.   Q: What suggestions are there? Wei Li Executive Director of Frost & Sullivan Greater China   Regarding the problem of low component recycling rate:   Preliminary treatment using physical methods: Use mechanical grinding and crushing sorting process methods to separate components by using the physical properties differences between various photovoltaic components, which eliminates manual disassembly and achieves preliminary purification.   Further purification using chemical methods: Use chemical reagents to further separate and purify each component after being separated by physical methods. Since the remaining mixture has similar physical properties, the chemical purification process is greatly simplified, the amount of chemical reagents used is reduced, and the purification time can be shortened.   For small mixtures with extremely high purity requirements and similar physical and chemical properties, use thermal treatment methods instead of using them on all substances, thus reducing energy consumption.   In short, adopting a step-by-step separation and purification method and combining physical, chemical, and thermal treatment methods can give full play to the advantages and avoid disadvantages of various methods, gradually achieving full separation of components and full purification of each substance.   Regarding the problem of high secondary pollution:   Regarding broken parts and dust generated during the disassembly and collection stages: Regularly sprinkle water treatment at the workplace to make the dust in the air settle to the ground with water vapor, and finally collect and treat them together with broken parts.   Regarding oil and hazardous chemicals during the transportation and storage stages: Use density differences to separate and collect oil, use chemical reactions to convert unstable hazardous chemicals into stable compounds for easy transportation and storage. When reusing them, convert the stable compounds back into the original hazardous chemical state through reversible reactions or other chemical changes.   Regarding pollutants during the treatment of batteries and silicone: Combine physical, chemical, and thermal treatment methods to separate various pollutants, select different treatment methods for pollutant components with different properties, or use chemical methods to convert pollutants into stable compounds for storage and reuse, or use biological methods to use the degradation effect of microorganisms on certain polluting substances to degrade harmful substances into harmless substances for discharge (such as CO2, H2O, O2) or reuse (such as H2).   Regarding the pollution of heavy metals and toxic gases: First consider whether the aforementioned chemical/biological methods can be used for treatment. If current scientific and technological means cannot handle them, it is recommended to store them separately first and develop new treatment technologies during storage.   Regarding the issue of standard system and technical standards for recycling treatment:   From the perspective of improving regulations and incentive policies, the government can promote the introduction of mandatory regulations on photovoltaic module recycling, such as the Extended Producer Responsibility System (EPR), requiring manufacturers to be responsible for the entire life cycle of components. Through financial subsidies or tax incentives, encourage enterprises to establish recycling facilities or adopt environmental protection treatment technologies; unify technical and recycling standards, formulate national-level photovoltaic module recycling standards with strong compatibility based on the current industry situation, covering component classification, disassembly process, material separation, and waste disposal. Or introduce a third-party certification system to ensure that recycling enterprises operate in compliance and improve industry transparency and standardization.   From the perspective of promoting industrial agglomeration and large-scale operation, draw on successful experiences in Europe and America, build regional recycling centers in areas with dense photovoltaic installations to reduce recycling transportation costs and improve operational efficiency. Rely on Internet platforms to establish cross-regional component recycling scheduling systems to achieve optimal resource allocation. Strengthen industrial alliance cooperation, encourage component manufacturers, energy enterprises, and recycling enterprises to form industrial alliances to jointly explore recycling business standards, models, and technical paths. Cooperate with universities and research institutions to promote theoretical research and technology achievement transformation.   From the perspective of market-oriented models, market-oriented operation models can be introduced, such as buyback incentives, leasing models, or "trade-in" plans, to enhance users' willingness to participate in recycling. Promote the development of recycling material trading platforms to improve resource utilization efficiency.   We can draw on successful experiences of other countries and strengthen international exchanges and cooperation. For example, draw on the successful practices of electronic waste recycling in the EU's "WEEE Directive" to promote standardized management and green recycling.   Regarding the issues of profit margins and recycling process:   From the perspective of technology research and development and innovation, we can optimize recycling processes, strengthen research on various recycling technologies such as machinery, pyrolysis, and chemistry, select efficient processes suitable for different types of components, improve recycling efficiency, reduce processing costs; introduce automated equipment and intelligent management systems to reduce labor costs. Promote the application of IOT in the industry.   From the perspective of policy support, improve the regulatory system and financial incentive measures. The government improves and formulates relevant laws and regulations on photovoltaic module recycling, clarifies the responsibilities and obligations of producers, recyclers, and users to ensure that the recycling process is based on law. Provide incentive policies such as tax exemptions and subsidies to encourage enterprises to invest in recycling facility construction and technology research and development, and reduce enterprise operating costs.   Expand new markets and extend the industrial chain of recycled materials, such as using recycled silicon materials in other high-tech industries to increase the added value of materials.   Promote green certification systems, such as the "Technical Specification for Green Grade Certification of Photovoltaic Modules" (CQC5306-2020) and the "Technical Specification for Green Supply Chain Management of Photovoltaic Enterprises" (T/CPIA 0027-2020). *This interview has been published in Economic Daily's internal reference

Frost & Sullivan Insights In December 2024, the Central Economic Work Conference proposed to actively develop the first-mover economy, the ice and snow economy, and the silver-haired economy. What signals does this send? Affected by the real estate market, current home industry consumption is under pressure and faces what challenges? What are the future development prospects and trends? What new growth directions are there in the home industry in the future?   Huang Ruibing, a consulting advisor for Frost & Sullivan Greater China, was interviewed by the Daily Economic News to discuss new trends and opportunities in the future economy. Daily Economic News *Click at the end of the article Read the original article to view the complete report   Q: In December 2024, the Central Economic Work Conference proposed to actively develop the first-mover economy, the ice and snow economy, and the silver-haired economy. What signals does this send? Huang Ruibing Consulting Advisor for Frost & Sullivan Greater China From the perspective of consumption, this indicates the country's emphasis and promotion of consumption upgrading. The first-mover economy refers to economic activities such as companies releasing new products, launching new business forms, new models, new services, new technologies, and opening their first stores. These activities can stimulate consumers' pursuit and desire for novelty, meet the increasingly diverse and personalized needs of consumers at different levels, further tap consumption potential, and promote the optimization and upgrading of the consumption structure. The ice and snow economy and the silver-haired economy target specific consumer groups—ice and snow enthusiasts and the large elderly population respectively, making precise efforts to open up consumer markets in niche areas, enriching consumption scenarios, and injecting new momentum into consumption growth.   In terms of industrial development, this is a powerful signal guiding industrial structure adjustment and innovative development. The first-mover economy encourages companies to increase R&D investment, accelerate product iteration and updates, enhance brand competitiveness, and promote the development of various industries towards high-end, intelligent, and green directions. The development of the ice and snow economy will drive the coordinated development of a series of related industries such as ice and snow sports equipment manufacturing, ice and snow tourism, and ice and snow event operations, forming new industrial clusters and industrial chains. The rise of the silver-haired economy prompts industries such as elderly care services, elderly products, and health care to continuously innovate and improve to meet the development needs of an aging society and promote diversified industrial development.   At the macroeconomic level, these characteristic economic forms help cultivate new economic growth points and enhance the resilience and vitality of economic development. Against the backdrop of complex and changing global economic situations, developing these emerging economic models can broaden China's economic development path, optimize the economic structure, improve the quality and sustainability of economic development, and provide strong support for achieving stable economic growth.   Q: Affected by the real estate market, current home industry consumption is under pressure and faces what challenges? What are the future development prospects and trends? Huang Ruibing Consulting Advisor for Frost & Sullivan Greater China Currently, the home industry is affected by the real estate market and faces many challenges, including shrinking demand, fierce competition, and changes in consumption concepts.   Firstly, the demand side has significantly contracted. The downturn in the real estate market has directly led to a decline in new home transactions, and new home renovation is one of the important driving forces for home consumption. The reduction in new home deliveries has greatly reduced the direct demand for home products, causing a decline in orders and performance for many home enterprises.   Secondly, competition has become increasingly fierce. With limited market demand, competition among home enterprises has entered a white-hot stage. There are not only price wars and channel wars between traditional home brands but also new competitive pressures brought about by the influx of cross-border enterprises. Although the development of e-commerce platforms has expanded sales channels, it has also intensified price transparency and further compressed the profit margins of enterprises.   Furthermore, challenges brought about by changes in consumer concepts. Today's consumers pay more attention to environmental protection, quality, and personalization, and have higher requirements for home products. This requires home enterprises to continuously upgrade in product research and development, production technology, etc., but this undoubtedly increases the cost input of enterprises. For some enterprises with weaker financial strength, it is difficult to quickly adapt to this change.   However, despite facing challenges, the future development prospects of the home industry are still broad. With the gradual recovery of China's economy and the continuous advancement of urbanization, rigid housing demand still exists, and improved housing demand is also constantly being released, which will bring new opportunities to the home industry. At the same time, the renovation and transformation demand of the existing housing market is gradually becoming a new hot spot in home consumption, opening up new space for industry development.   The future development of the home industry shows the following trends:   First is intelligence. With the popularization of technologies such as the Internet of Things and artificial intelligence, smart home products will increasingly be favored by consumers, and home intelligence will become an important direction for industry development.   Second is green environmental protection. The enhanced awareness of environmental protection among consumers prompts home enterprises to pay more attention to the environmental performance of products, adopting environmentally friendly materials and implementing green production will become industry standards.   Third is customization. The full-house customization business that meets consumers' personalized needs will continue to maintain growth momentum. Enterprises need to continuously improve their design capabilities and service levels to adapt to the development of the customization market.   Fourth is the integration of online and offline. Online channels can expand brand influence and customer groups, while offline experience stores can provide more intuitive product displays and services. The deep integration of the two will become the key for home enterprises to enhance their competitiveness.   Q: What new growth directions are there in the home industry in the future? Huang Ruibing Consulting Advisor for Frost & Sullivan Greater China The field of smart health homes is an important growth point. With people's increasing attention to life quality and health, the market potential of health home products with functions such as intelligent monitoring, air purification, and sleep assistance is huge. For example, smart mattresses can monitor sleep data in real time and analyze it to provide personalized sleep suggestions for users; smart lamps with air purification functions can not only illuminate but also improve indoor air quality. Such products not only meet consumers' pursuit of a healthy life but also bring new technological innovations and market opportunities to the home industry.   Age-friendly homes are also a highly potential direction. China's aging population is constantly deepening, and the elderly population is huge, with special needs for home products. With the development of the silver-haired economy, age-friendly furniture is designed fully considering the physical characteristics and usage habits of the elderly, such as high height suitability, soft materials, and safety functions such as anti-slip and anti-fall. In addition, related home products such as barrier-free facilities and elderly rehabilitation aids will also see rapid development. Creating one-stop age-friendly home solutions around the elderly population will become a new business growth point for the industry.   The outdoor home market is expected to rise rapidly. With the transformation of people's leisure lifestyle, they pay more attention to the utilization and creation of outdoor spaces. The market demand for outdoor furniture, courtyard decorations, gardening supplies, etc. continues to grow. Consumers hope to create comfortable and beautiful leisure environments outdoors and enjoy natural life. Therefore, high-quality, personalized, and outdoor environment-adapted outdoor home products will have broad market prospects.   The first-mover economy drives home enterprises to innovate and develop. With the development of the first-mover economy, home enterprises can also lead consumer trends by releasing new products, new business forms, new models, etc. For example, launching innovative home products, opening first stores or flagship stores, etc., to attract consumers' attention and purchase. This not only helps to enhance the brand awareness and market share of enterprises but also promotes the innovative development of the entire home industry.   Therefore, fields such as smart health, age-friendly, outdoor, and innovative development will bring new growth momentum and development opportunities to the home industry. *This interview has been published in Daily Economic News Reporter: Cheng Ya, original title: Net profit after deducting non-recurring gains and losses has been in deficit for 7 consecutive years; the operating difficulties of YAZHEN Home reflect the fierce competition in the furniture industry; Ice and Snow Economy | Kangliyuan: Expanding simulated ice and snow sports fitness equipment will be comprehensively evaluated to determine whether investment will be increased   Contact phone: 021-5407-5836 Contact email: PR@frostchina.com

Insights from Frost & Sullivan After integrating the DeepSeek artificial intelligence model into their own intelligent systems, how do many digital healthcare layout companies expect this to change or enhance existing AI healthcare solutions? What is the specific impact of the introduction of the DeepSeek model on the competitiveness of healthcare technology companies in the AI healthcare field? What achievements or cases have been made with the DeepSeek model in practical applications, and how do these achievements reflect its value in the healthcare industry? What changes or trends will the widespread application of large models such as DeepSeek bring to the entire AI healthcare market? Does the application of these large models indicate that AI healthcare is entering a new development stage? If so, what are the main characteristics of this stage?   Zhou Mingzi, Executive Director of Frost & Sullivan Greater China, interviewed by 21st Century Business Herald to discuss the future of AI healthcare—technological innovation, ethical guidelines, and investment opportunities. 21st Century Business Herald *Click at the end of the article Read the original article to view the complete report   Q: Now that many digital healthcare layout companies have integrated the DeepSeek artificial intelligence model into their own intelligent systems, how do they expect this to change or enhance existing AI healthcare solutions? What is the specific impact of the introduction of the DeepSeek model on the competitiveness of healthcare technology companies in the AI healthcare field? Zhou Mingzi Executive Director of Frost & Sullivan Greater China Integrating the DeepSeek artificial intelligence model into digital healthcare systems will significantly improve the efficiency and accuracy of existing AI healthcare solutions and play a positive role in promoting the digitization and assetization of smart healthcare in China. Specifically, DeepSeek can more accurately diagnose diseases and formulate treatment plans through deep learning and big data analysis, thereby improving the quality of medical services. In addition, the artificial intelligence model can also optimize resource allocation through intelligent means, enhancing the capabilities and efficiency of primary healthcare services, which will directly help solve the "impossible triangle" problem in healthcare services—i.e., the balance between cost, quality, and accessibility. From a healthcare technology perspective, the introduction of DeepSeek also provides strong data analysis support for big health research, thereby accelerating the transformation of scientific research achievements and promoting innovation and progress in medical technology.   Q: Please share some of the achievements or cases that have been made with the DeepSeek model in practical applications, and how these achievements reflect their value in the healthcare industry? Zhou Mingzi Executive Director of Frost & Sullivan Greater China For example, in medical imaging analysis, DeepSeek can accurately identify tumors and lesions, assisting doctors in making comprehensive diagnoses and significantly improving diagnostic accuracy and efficiency. In terms of personalized treatment plan formulation, DeepSeek provides customized treatment recommendations for patients by analyzing their genetic information and medical history through "precision medicine," enhancing treatment effects and reducing side effects. In addition, in clinical trial design, DeepSeek can also provide more clinical advice for pharmaceutical companies and doctors, accelerating the process of new drug research and development. These achievements not only improve the quality and efficiency of healthcare services but also bring innovative solutions to the healthcare industry, promoting the digital transformation of the entire industry.   Q: What changes or trends will the widespread application of large models such as DeepSeek bring to the entire AI healthcare market? Does the application of these large models indicate that AI healthcare is entering a new development stage? If so, what are the main characteristics of this stage? Zhou Mingzi Executive Director of Frost & Sullivan Greater China With the widespread application of large model technologies such as DeepSeek, the AI healthcare market is undergoing a major transformation. In the past, AI healthcare mainly relied on single data sources, but now it is developing towards integrating multiple data sources (such as text, imaging, genetics, etc.). This transformation enables doctors to diagnose diseases more accurately and customize personalized treatment plans for patients. At the same time, the level of intelligence and automation of medical processes will also be significantly improved. Real-time monitoring data, automatic decision assistance, and cross-field cooperative innovation will jointly create a new ecosystem centered on data-driven and intelligent decision-making.   In this process, the application scope of AI is also constantly expanding. It not only has its advantages in the fields of healthcare and pharmaceutical services but is gradually penetrating into residents' daily lives, playing an increasingly important role in areas such as health management and medical insurance. It can be said that AI healthcare is moving towards a new development stage.   The main characteristics of this new stage include the efficient integration of multiple data sources, the popularization of personalized precision medicine, the application of intelligent automation processes, and the deep integration of medical research and clinical practice. However, with the rapid development of technology, issues such as data privacy protection, system security, and model interpretability have become more important. This requires the entire industry to pay more attention to compliance and ethics while pursuing technological innovation, striving to build an efficient and trustworthy future healthcare system.   Q: Driven by models such as DeepSeek, what new explorations or breakthroughs may the commercialization path of AI healthcare bring about? Zhou Mingzi Executive Director of Frost & Sullivan Greater China Driven by advanced models such as DeepSeek, the commercialization of AI healthcare is expected to make new breakthroughs in multiple aspects such as product innovation, application scenario expansion, and industrial integration. In terms of product innovation, AI technology is breaking through the limitations of traditional manual work. For example, medical virtual humans are playing an increasingly important role in hospital and out-of-hospital scenarios with their intelligent services. Enterprises can achieve profitability by selling services or licensing technology. In terms of application scenario expansion, the application scope of AI healthcare is also constantly expanding. For example, in home hospice care services, combined with intelligent monitoring devices, AI healthcare can cooperate with elderly care and insurance institutions to meet the needs of hospice care while realizing commercial value.   At the level of industrial integration, the combination of AI healthcare with other fields has also brought new opportunities. For example, the linkage between AI healthcare and the metaverse has created virtual healthcare platforms that generate revenue by charging platform usage fees and virtual item sales fees, bringing innovation to medical training and experience. At the same time, the combination of AI healthcare with fintech has given rise to innovative medical financial services. By analyzing data with DeepSeek, on the one hand, it can provide personalized product plans for patients and medical institutions, and on the other hand, based on these innovative product plans, it can also combine innovative payment, diversified finance, and other market elements and tools to match better commercial implementation plans and achieve greater commercial value expression. These breakthroughs not only promote the progress of AI healthcare technology products but also bring new growth points to enterprises. More importantly, through the combination of product technology and market commercialization, they will not only benefit patients but also promote further reform of the supply side of medical technology and promote the high-quality development of the entire medical industry.   Q: Against the backdrop of the rapid development of AI healthcare technology, how can traditional healthcare enterprises maintain their competitiveness? Zhou Mingzi Executive Director of Frost & Sullivan Greater China In the current context of rapid development of AI healthcare technology, traditional healthcare enterprises have both faced huge opportunities and significant challenges. To maintain competitiveness in the fierce market competition, enterprises can start from multiple aspects, making comprehensive layouts and transformations.   First of all, technological innovation is key. Traditional healthcare enterprises should actively embrace artificial intelligence technology and regard it as an important means to improve the efficiency and quality of medical services. They can cooperate with leading AI companies or increase their own R&D investment in the AI field to apply AI technology to various aspects of healthcare.   Technological innovation cannot do without data support, and traditional healthcare enterprises urgently need to attach importance to data accumulation and management. Data security and privacy protection are also crucial. Enterprises must strictly abide by laws and regulations to ensure the safety and compliance of patient information and prevent legal and reputational risks brought about by data leakage.   To develop technology, talent is the core. Traditional healthcare enterprises need to build a composite team that understands both healthcare and AI. In addition, the transformation of service models is also an important part of improving user experience. Traditional healthcare enterprises can use AI technology to develop remote medical platforms, breaking through time and space limitations, providing patients with online consultations, health consultations, chronic disease management and other services, making it more convenient for patients to obtain medical services.   Traditional healthcare enterprises should also strengthen ecological cooperation for the implementation of AI technology. By strengthening cooperation with medical institutions, research institutes, technology companies and other parties, they can build an open and win-win ecosystem. Through resource sharing and complementary advantages, enterprises can accelerate the implementation of AI technology in the medical field and take the initiative in formulating industry standards and innovating business models.   Policies and regulations are the guarantee for enterprise development. With the rapid development of AI healthcare technology, governments and regulatory agencies around the world are continuously improving relevant laws and regulations. Traditional healthcare enterprises need to pay close attention to policy changes to ensure that business is carried out under compliance. At the same time, enterprises should also actively participate in formulating industry standards, promote the rationalization and standardization of policies, create a good external environment for their own development, and avoid normal operations being affected by policy risks.   Generally speaking, traditional healthcare enterprises can build their core advantages through efforts in multiple aspects such as technological innovation, data-driven development, talent cultivation, service model transformation, and ecological cooperation, thereby maintaining competitiveness in the AI healthcare era, achieving sustainable development and transformation and upgrading.   Q: From the perspective of consulting agencies, what impact does the application of large models such as DeepSeek have on the investment prospects in the AI healthcare field? Which sub-sectors or application scenarios will become hotspots for AI healthcare investment? Zhou Mingzi Executive Director of Frost & Sullivan Greater China The application of large models such as DeepSeek has brought new investment opportunities to the AI healthcare field in China and even globally, and has significantly attracted new investment attraction and confidence from the capital market. Sub-sectors such as medical imaging analysis, personalized treatment plans, remote medicine, intelligent assisted diagnosis, and drug research and development will become hotspots for AI healthcare investment. The innovative applications in these fields can not only attract investment enthusiasm from the capital market, facilitate financing for innovative enterprises, accelerate the innovation and commercialization process of AI products in the medical field, but also further accelerate the overseas expansion of local AI healthcare innovation businesses in China. Against this background, investment opportunities around product, business, and service overseas expansion will also grow rapidly in the future.   In the hotspots for AI healthcare investment, medical imaging analysis is considered one of the most promising sub-sectors. With the continuous progress of deep learning technology, AI has achieved remarkable results in medical imaging diagnosis. It can quickly and accurately identify lesions and abnormalities, assisting doctors in making more accurate diagnoses. The technology maturity in this field is relatively high, market demand is strong, and application scenarios are extensive, covering the whole process from early screening to disease diagnosis and treatment monitoring. In addition, the commercialization prospects of medical imaging analysis are broad. It can not only improve the efficiency and quality of medical services but also bring considerable economic benefits to healthcare technology enterprises.   Therefore, medical imaging analysis has great potential in attracting investment, promoting technological innovation, and realizing commercial application. It is expected to become an important growth point in the AI healthcare field. Other hotspots include the innovative accumulation and application of big health medical data assets, artificial intelligence drug research and development support, etc. All fields around intelligent data assets and intelligent algorithms will become sub-sectors worthy of attention.   Q: For investors who hope to invest and layout in the AI healthcare field, what suggestions or risk warnings are there? While models such as DeepSeek are driving the rapid development of AI healthcare, how can we balance technological innovation with ethical and moral issues? Zhou Mingzi Executive Director of Frost & Sullivan Greater China While paying attention to technological innovation and application innovation, investors should also attach great importance to ethical and moral issues and privacy protection. Under the rapid development of AI healthcare driven by large models, innovative artificial intelligence enterprises should ensure that in technology development and application, they have followed strict ethical guidelines, actively taken measures to avoid data abuse and algorithm bias, and actively cooperated with regulatory agencies' ethical reviews. At the same time, enterprises need to establish a strong data protection mechanism to ensure the safety and privacy of patient information. For investors, actively adopting the above business development principles and promoting fair healthcare in the long term often makes business risks more controllable. Investors should also pay attention to policy changes to ensure that the future commercialization strategies of research products can meet relevant legal requirements, thereby achieving long-term sustainable investment returns. *This interview has been published in 21st Century Business Herald. The reporter is Ji Yuanyuan. The original title is: Exclusive Interview with Zhou Mingzi, Executive Director of Frost & Sullivan Greater China: DeepSeek Leads Healthcare Transformation, and Ethical Guidelines Are Indispensable | AI Healthcare Wave ②   Contact phone: 021-5407-5836 Contact email: PR@frostchina.com

Insights from Frost & Sullivan On January 14th, Governor Liu Xiaoming of Hainan Province stated during the fourth session of the seventh Hainan Provincial People's Congress that the goal of the construction of the Hainan Free Trade Port by the end of 2025 is to fully operationalize customs closure. "Focusing on pushing the construction of the free trade port into a new phase" is ranked first among the ten key tasks for this year. In 2025, Hainan is about to close its customs, which will have what impact on island tax-free shopping? In the past two years, outbound travel has warmed up faster. Does this necessarily mean an impact on Hainan's island tax-free shopping? How significant is the impact, and is there data to verify it? If island tax-free shopping wants to warm up again, what efforts need to be made? As more new entrants obtain licenses, how has competition in the tax-free industry changed? What challenges and difficulties do island tax-free enterprises need to overcome for development in the future?   Chen Chen, Executive Director of Frost & Sullivan Greater China, was interviewed by Times Finance to discuss changes in the competitive landscape of the tax-free industry and key challenges for future development. Times Finance *Click on the end of the article Read the original article for a complete report   Q: In 2025, Hainan is about to close its customs, which will have what impact on island tax-free shopping? Chen Chen Executive Director of Frost & Sullivan Greater China Once Hainan closes its customs, the entire island becomes an "inside-outside" area, implementing "one line open, two lines controlled, free within the island," allowing residents on Hainan to enjoy preferential policies such as zero tariffs. After the closure, a "zero tariff" policy will be implemented, allowing more imported goods to enter Hainan tax-free, potentially enriching the variety and brands of tax-free goods, and increasing consumer choices. At the same time, the current annual limit of 100,000 yuan per person for island tax-free shopping is expected to be further increased, and residents with Hainan household registration may not be limited by the quota. Human flow, logistics, and capital flow will further converge in the Hainan Free Trade Port, with a large number of enterprises expected to settle in Hainan, increasing the number of business travelers, and potentially further enhancing local tax-free consumption. Both island tax-free and in-island tax-free businesses may see growth.   Q: Recently, China National Tourism Group Co., Ltd. released its 2024 annual performance report. It shows that in 2024, the company's net profit attributable to the parent company, net profit after deducting non-recurring gains and losses attributable to the parent company, and basic earnings per share all decreased by more than 30% year-on-year. The performance in the first three quarters also declined to varying degrees. Why has the performance of China National Tourism Group Co., Ltd. declined this year as tourism is warming up? Chen Chen Executive Director of Frost & Sullivan Greater China There are several main reasons. One is the diversion caused by the recovery of outbound travel, which gives consumers more shopping options. Popular tourist destinations such as Japan and Singapore offer rich variety and attractive prices, combined with exchange rate factors, attracting a large number of Chinese tourists shopping; changes in consumer willingness and ability, the current economic environment bringing certain pressure to the public, affecting residents' income, leading to conservative consumption sentiment, and a decrease in purchasing willingness and expenditure for tax-free goods as an optional consumption, preferring more frugal spending; at the same time, factors such as intensified industry competition and e-commerce platform impacts have also had a certain impact on the performance of China National Tourism Group Co., Ltd.   Q: In the past two years, outbound travel has warmed up faster. Does this necessarily mean an impact on Hainan's island tax-free shopping? How significant is the impact, and is there data to verify it? If island tax-free shopping wants to warm up again, what efforts need to be made? Chen Chen Executive Director of Frost & Sullivan Greater China Outbound travel warming up has indeed had a certain impact on Hainan's island tax-free shopping. From January to June 2024, the amount of tax-free shopping on Hainan's islands was 18.46 billion yuan, a year-on-year decrease of 29.9%; the number of tax-free shoppers was 3.361 million person-times, a year-on-year decrease of 10%. During the "May Day" holiday in 2024, Haikou Customs supervised a total of 547 million yuan in tax-free shopping on Hainan's islands, with the first day of May seeing a tax-free sales amount of 115 million yuan, about 34% lower than the same period in 2023. In the first quarter of 2024, the number of Chinese tourists to Japan exceeded 1.1 million people, with a year-on-year growth rate as high as 826.1%.   Q: As more new entrants obtain licenses, how has competition in the tax-free industry changed? What challenges and difficulties do island tax-free enterprises need to overcome for development in the future? Chen Chen Executive Director of Frost & Sullivan Greater China Market share competition has intensified, and new enterprises, after obtaining licenses, will inevitably strive for market share in the tax-free market. For example, Hainan currently has 6 island tax-free business entities and 12 island tax-free stores, further dividing the market originally occupied by a few enterprises and impacting the market share of traditional tax-free giants such as China National Tourism Group Co., Ltd. Price and service competition is more intense, with each tax-free enterprise likely to engage in price games to attract consumers, such as striving for more favorable procurement prices and launching promotional activities to reduce product prices. At the same time, investment will also be increased in services to improve shopping environments and after-sales service. Competition between brands and product varieties is prominent, with new entrants striving to cooperate with more international and domestic brands to enrich product varieties and meet diverse consumer needs. Competition within the industry for high-quality brand resources has intensified, and whoever can introduce more popular and exclusive brands can gain a more advantageous position in the competition. *This interview has been published in Times Finance Reporter: Feng Liange, original title: Two years after outbound travel reopens, Hainan starts countdown to customs closure, who is still shopping at island tax-free stores?