The First High-Value Patent Cultivation (Transformation and Application) Competition   April 26th is 'World Intellectual Property Day'. Recently, the first high-value patent cultivation (transformation and application) competition in Lucheng District, Wenzhou City, Zhejiang Province, and the launching ceremony of the 2025 Lucheng District Intellectual Property Publicity Week were held. Through roadshow competitions, list releases, achievement displays, and other forms, a 'product-industry-research integration' dialogue platform was built for young scientists and Wenzhou business entrepreneurs, promoting the acceleration of a number of innovative achievements. Zhang Yuchen, Corporate Communication Director of Frost & Sullivan (Frost & Sullivan, abbreviated as 'Frost & Sullivan'), was invited to attend this event and gave a key interpretation of the 'Intellectual Property Value Ranking of Listed Companies on the Zhejiang Science and Technology Innovation Board'.   The 'Intellectual Property Value Ranking of Listed Companies on the Zhejiang Science and Technology Innovation Board' was jointly compiled by Shenzhen National Standard Intellectual Property Big Data Center and Frost & Sullivan. Based on the public financial data of more than 700 listed companies in Zhejiang Province, the ranking reveals the understanding and emphasis of listed companies in Zhejiang Province on intellectual property assetization through quantitative analysis and the public disclosure of the value of intangible assets within financial statements. This pioneering research achievement fills a gap in the field of domestic intellectual property value determination and sets a new benchmark for the development of high-quality intellectual property assetization. At the event site, Zhang Yuchen briefly analyzed the core value and significance of the ranking from three dimensions: core insights, industry depth analysis, and trend recommendations, and deeply dissected the intellectual property value performance of listed companies in Zhejiang Province, providing important references for regional innovation development and the assetization operation of listed companies' intellectual property. Intellectual property has provided vivid examples of traditional manufacturing enterprises rejuvenating through technological upgrading and emerging industries overtaking in niche tracks, as well as providing references for Wenzhou business enterprises in terms of technology layout and innovation transformation. Zhang Yuchen, Corporate Communication Director of Frost & Sullivan Greater China Zhang Yuchen, Corporate Communication Director of Frost & Sullivan Greater China   This event relies on the World Wenzhou Entrepreneurs and Young Scientists Intellectual Property Transformation Center. As an important part of Wenzhou's intellectual property public service system, since its establishment in 2024, the World Wenzhou Entrepreneurs and Young Scientists Intellectual Property Transformation Center has integrated the business resources of world Wenzhou entrepreneurs and the innovative achievements of young scientists, constructing a diversified intellectual property transformation ecosystem to promote the transformation and industrialization of intellectual property. As of now, the center has connected a total of 26 patent technology transformation projects of Wenzhou entrepreneurs, facilitating the implementation of 5 enterprises (projects).   It is reported that through preliminary solicitation, the first high-value patent cultivation (transformation and application) competition in Lucheng District has selected ten excellent projects. At the event site, representatives of five high-value patent projects, including 'High-Weight, High-Frequency, High-Energy Super-Strong Femtosecond Lasers', 'A Method for Edge Network Communication Path Selection in Distributed Neural Networks', 'New Multifunctional Fireproof Paper', 'High-Performance Alloy Plastic Forming Components', and 'Agricultural Internet of Things Intelligent Pushing Robot', conducted roadshow connections to showcase the highlights of their projects.   At the event site, the unveiling ceremony of the 'Market Supervision & e-Lucos' intelligent valley market supervision integrated service station and the 'Lucos & Service e-Home' intelligent valley intellectual property workstation was also held. Since 2025, Lucheng District has innovatively created the 'Lucos & Service e-Home' intellectual product brand based on the provincial-level intellectual property 'one-stop' public service platform, focusing on the demands of key scientific and technological innovation platforms, large incubator clusters, key industrial parks and other innovation entities. Centering around the four major themes of basic services, comprehensive protection, industrial innovation, and overseas rights protection, a number of market supervision integrated service stations and intellectual property workstations have been established in the China (Wenzhou) Intelligent Valley, Wenzhou International Convention and Exhibition Center, Shuangyu West Coast Cross-border E-commerce Park, etc., realizing the personalized demands of innovation entities 'available at one stop' and 'excellent at one stop'.   Nearly 100 people attended, including responsible persons from the Wenzhou Market Supervision Bureau, Lucheng District Government, and Lucheng District Market Supervision Bureau, experts and scholars from relevant universities and research institutions, and representatives of Wenzhou business enterprises.     About Shenzhen National Standard Intellectual Property Big Data Center Shenzhen National Standard Intellectual Property Big Data Center is a non-profit NGO registered with the Civil Affairs Bureau of Shenzhen Municipality, supervised by the Shenzhen Market Supervision Administration (Shenzhen Intellectual Property Office), and jointly initiated by Tencent Technology and the Shenzhen Chamber of Commerce. It is a NGO organization.  

The '2025 China Pet Industry White Paper' shows that the urban (dog and cat) consumer market in China reached as high as 300.2 billion yuan in 2024, and the global pet apparel market could reach $8.7 billion by 2030. In recent years, pet consumption has gradually climbed. What are the reasons behind this? Currently, some domestic companies are making efforts to seize a share of the pet industry, with domestic substitution underway. What will be the future pattern of the pet industry? Looking at data from the past five years, the overall scale of imported pet food has shown a downward trend. Under the 'equivalent tariffs' policy in the United States, what opportunities and challenges does it present for the domestic pet industry? Some listed companies in the domestic pet industry have a relatively large proportion of exports. Under the 'equivalent tariffs' policy, how should these companies respond? Many companies have established production bases in Cambodia. Does the 'equivalent tariffs' have an impact on this?   Lu Siyi, a consulting manager for the consumer industry in Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), was interviewed by 'Shanghai Securities News' to discuss the second half of the pet industry, how domestic brands can break through and overcome challenges.     Q: The '2025 China Pet Industry White Paper' shows that in 2024, China's urban (dog and cat) consumer market reached as high as 300.2 billion yuan, and the global pet apparel market could reach $8.7 billion by 2030. In recent years, pet consumption has gradually climbed. What are the reasons behind this? Lu Siyi Consumer Industry Consulting Manager, Greater China, Frost & Sullivan   There are several reasons:   Economic level improvement and consumption upgrade: With the growth of per capita disposable income, pet owners' demands for pet quality of life have increased, leading to a surge in demand for high-end products such as pet clothing, smart gadgets, and customized services;   Emotional consumption demand is strong: with the acceleration of urbanization, single-person economy, and aging society, pets have become an important emotional support. Single young people and empty-nest elderly regard pets as 'family members', driving 'personification consumption';   The awareness of scientific pet care has increased: New-generation consumers (born in the 90s and Generation Z) place greater emphasis on pet welfare, enhancing their scientific pet care awareness. From an industry perspective, in recent years, the proportion of health-related expenditures such as pet medical care and nutritional products has significantly increased, reflecting the importance placed on long-term pet health management.   Q: Currently, some domestic enterprises are making efforts to seize market share in the pet industry, with domestic substitution in progress. What will be the future landscape of the pet industry? Lu Siyi Consumer Industry Consulting Manager, Greater China, Frost & Sullivan   Firstly, domestic brands will gradually break the monopoly of imported brands by leveraging cost-effectiveness and localization advantages. Through e-commerce channels and targeted marketing, they will rapidly penetrate the lower-tier market with a strategy of 'high cost-effectiveness + catering to the dietary habits of Chinese pets'.   Secondly, the concentration in the pet industry has increased, with leading companies improving their industrial chain layout through mergers and acquisitions (such as food companies acquiring medical brands), forming an 'food + medical + service' ecological closed-loop. At the same time, cross-border integration has intensified, with traditional industries such as home appliances and pharmaceuticals leveraging their existing business advantages to enter the pet market. For example, Midea and Gree have launched new products to layout pet smart products.   Finally, domestic enterprises have further expanded overseas markets, accelerating their expansion into Southeast Asia, Europe, and America by leveraging supply chain cost advantages and cultural output.   Q: Looking at the data from the past five years, the overall scale of imported pet food has shown a downward trend. Under the US 'equivalent tariff' policy, what opportunities and challenges does it present to the domestic pet industry? Lu Siyi Consumer Industry Consulting Manager, Greater China, Frost & Sullivan   In terms of opportunities, firstly, it helps domestic brands seize the high-end market. Currently, the market share of domestic pet food has exceeded 60%, while the share of imported brands has been continuously shrinking in recent years.   Secondly, it helps to force the improvement and development of the domestic supply chain. Import tariffs drive up the cost of overseas raw materials, prompting enterprises to turn to the domestic supply chain, which to some extent promotes the optimization of the supply chain in China's domestic pet industry. It may also encourage domestic enterprises to explore new markets, turning to emerging markets such as Southeast Asia and the Middle East.   Regarding challenges, the increase in tariffs will bring a significant cost shock to enterprises that rely heavily on imported raw materials. At the same time, it is also not conducive to the export of pet products from our country. According to Chinese customs statistics, in 2023, China's exports of pet food to the US decreased by 12% year-on-year. In addition, it may also exacerbate brand homogenization and trigger price wars.   Q: Some domestic listed companies in the pet industry have a relatively large proportion of exports. Under the 'equivalent tariff' policy, how should these companies respond? Many companies have established production bases in Cambodia. Does the 'equivalent tariff' have an impact on this? Lu Siyi Consumer Industry Consulting Manager, Greater China, Frost & Sullivan   In the face of the adverse effects on exports brought about by 'equivalent tariffs', enterprises can choose to transfer their production capacity globally, such as building factories in low-tariff countries like Cambodia and Thailand, or actively exploring emerging markets, focusing on developing RCEP member states and 'Belt and Road' countries. By 2024, China's exports of pet food to ASEAN had increased to account for 25% of its total exports, becoming the second-largest export market.   For factories built in regions such as the southeast, which are considered to bring short-term cost advantages through red profits due to relatively lower tariffs and labor costs, long-term development may be hindered by changes in U.S. tariff policies or insufficient local industrial chain support. Therefore, it is necessary to approach this with caution and actively seek other sustainable solutions. *This interview has been published on the Securities Daily Network, with reporter Yang Xiangfei and the original title being: 'Tariff Impacts "Its Rations"? Domestic Goods Are Rising'

Recently, Our company learned about it through the public media channels The general situation of the public opinion incident of 'Rabbit Head Mom', as well as information obtained through media publications three How is it a fact: 1) The brand used patent information that had not been officially granted a patent authorization as a promotional selling point for its children's toothpaste products, conducting misleading and exaggerated advertisements on e-commerce platforms to consumers. 2) The brand exaggerates the restrictive conclusions issued by Frost & Sullivan for the brand across multiple channels, avoiding information on the research sample, scope, and timing of the research, thereby misleading consumers. 3) Regarding the 'Rabbit Head Mom' children's toothpaste, whether the oral fluoro ingredient is domestically produced or imported from Germany, the brand's promotional copy and images on e-commerce channels have misled consumers and may constitute false advertising. Based on the above Based on the review of the basic public opinion status of 'Rabbit Head Mom', our company hereby Make a positive response and state: I. by The 'Rabbit Head Mom' commissioned us to conduct a market position study, and the research output is as follows: 1. Issue a Market Position Statement: 1) "2023 National Children's Anti-cavity Toothpaste Sales Leader" footnotes Data sourced from Frost & Sullivan, calculated based on the sales of children's toothpaste brands in 2023 (in billions of yuan); " Children's anti-cavity toothpaste "Fluoride-added toothpaste, which not only has the basic functions of toothpaste but also has anti-caries effects, is suitable for children aged 18 and below; the survey was completed in January 2024." 2) '2023 National Sales Leader in High-End Children's Anti-Cavity Toothpaste' footnotes Data sourced from Frost & Sullivan, based on the total channel sales (in thousands of units) of high-end children's toothpaste brands during 2023. 'High-end children's toothpaste' refers to those with a retail price exceeding 40 yuan per 100 grams and containing fluoride. In addition to their basic toothpaste functions, they also have anti-caries effects and are suitable for children aged 18 and under; the survey was completed in January 2024. 2. Issue market research reports: Survey sample: 100 dentist Research scope: covering first-tier, new first-tier, and second-tier cities Research period: January 2024 Research Conclusion: In January 2024, Frost & Sullivan conducted a consumer survey among 100 dentists from first- and second-tier cities in China. The results showed that among dentists targeting children's dental caries, the largest number were those who promoted the Rabbit Head Mom brand as their top recommended children's toothpaste. " Rabbit Head Mom " Entrust us with conducting market research on the sales volume and revenue of children's anti-cavity toothpaste only, and provide research samples as A research report on 100 dentists covering first-tier, new first-tier, and second-tier cities. The deliverables we provide are based on rigorous and objective data research, as well as industry-standard research methods. The validity period of the market position conclusion submitted by our company is twelve ( 12) months have passed since the conclusion was made, and to date, our company has not provided any updated research services or other market position research services regarding the market position of Rabbit Head Mama. II. About our company Emphasis on the 'Market Positioning Statement' business Our company of Market Positioning Statement service, mainly providing independent market research and analysis through industry-standard research methods for specific markets. through Core and key players in the market conduct identify and provide corresponding market Status confirmation service , Form objective research results and derive specific enterprise products /Business/service/other operating items' market position in the respective sector. Our company A market position statement has gradually taken shape over the course of business development certificate This carrier for visualizing research conclusions form By presenting a series of core elements such as the regions covered by the research, time span, calculation dimensions, product definitions, and the completion time of the research in a standard and standardized manner, the goal is to guide brand owners to comply with citation regulations. Our company has also noticed that some brand owners make inappropriate or non-standard statements when citing the market position statement certificates or reports issued by our company for market promotion. For example, they wrongly describe the market research services provided by our company as Expressions such as "XXX Certification Service", "Obtained XXX Authoritative Certification", etc.; at the same time, for some enterprises Citation Issued by our company report content When conducting publicity, there is a tendency to misinterpret, alter, or simplify conclusions, as well as to truncate conditions for conclusions. situation . We are Provide for customers service of during the process has Clarify that brand owners shall not tamper with it or hidden Market Position Conclusion Relevant content and limitations , Or any business-related exaggeration or misinterpretation of the market research services provided by our company. We also advocate Each brand company should Maintain a cautious attitude towards strengthening compliance with advertising promotion , jointly Build a positive and healthy market consumption environment. Based on the above key matters stated, our company hereby urge "Hangzhou Island Star sunny Biotechnology Co., Ltd." and its affiliates brand " Rabbit Head Mom "Modify or delete in advertisement Possible in dissemination give Content that causes misunderstandings to the public ; At the same time, our company will also address some from the brand side Controversial content , Timely deletion of relevant articles published on the official website and WeChat official account.   Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch April 21, 2025

On April 11, 2025, at the highly anticipated 2025 Wuzhen Health Conference, Frost & Sullivan, a global top growth consulting firm, won the 'China Famous Brand' awarded by Xinhua News Agency for its outstanding innovation practices in the three dimensions of 'technology integration, industry linkage, and brand co-creation'. Top Value Brands with Cross-border Integration for 2025 "This honor is not only a high recognition of Frost & Sullivan's leadership in the field of cross-border integration but also an authoritative affirmation of its role in promoting the deep integration of the health industry with resources from multiple sectors and building a high-quality development ecosystem."   Cross-border: Transforming Traditional Consulting and Leading Digital Transformation As a global leader in the consulting industry, Frost & Sullivan has always focused on technological innovation as its core driving force, dedicated to leading the digital transformation of the traditional consulting industry. By introducing advanced technologies such as AI, large models, and cloud computing, and innovatively proposing the 'Artificial Intelligence Empowered, Blockchain Technology Supported Knowledge Services (ABCK)' solution, Frost & Sullivan has taken the lead in deeply integrating knowledge services with digital tools in the industry. This has solved the pain points of 'information silos' and 'repeating the same wheel' in the traditional consulting industry, significantly improving service efficiency and accuracy. It is worth mentioning that as a professional research institution, Frost & Sullivan is also actively committed to providing high-quality research and consulting services for brands and society in the AI era. Frost & Sullivan cultivates industry-academia talents through open-source research and collaboration with universities, providing high-quality data support for large model training. At the same time, Frost & Sullivan is also actively involved in the formulation and promotion of industry standards, promoting the healthy development of AI technology. It hopes that through its own efforts, it can help brands build a clean online environment and a knowledge Great Wall in the AI era, enhancing the value and influence of brands.   Link: Delve into industry research to inspire cross-border wisdom Frost & Sullivan has been deeply involved in industry research for over 60 years, accumulating more than 10,000 original industry research reports and white papers in China. It spans across 19 core national economic industries and more than 6,000 sub-markets, providing in-depth analysis and trend predictions for various industries. In addition, Frost & Sullivan has published textbook-level publications such as 'White Paper on the Development Trends of China's Industries over the Next 50 Years', 'Investment Activity Report on the Issuance of 18A Biotech Companies in Hong Kong Stock Market', 'White Paper on the Development of Artificial Intelligence Industry in Hong Kong Stock Market', 'Hong Kong IPO and Secondary Market White Paper', and 'ESOP Equity Incentive Professional Plan' for many consecutive years in China. It has also cooperated with authoritative organizations including the China Academy of Information and Communications Technology, the Boao Forum for Asia Global Health Forum, and the Shanghai Stock Exchange to publish several industry white papers. In the field of life sciences, Frost & Sullivan maintains high-frequency and regular in-depth research outputs, releasing a large number of heavyweight industry white papers and blue papers every year, which have gained wide recognition from the capital market, industry, and investment community. From 2022 to 2024, it published three consecutive years with the 'Investment Activity Report on the Issuance of 18A Biotech Companies in Hong Kong Stock Market' (which includes not only 18A biotech companies in Hong Kong but also analyzes domestic science and technology innovation board biotech companies and those planning to go public), earning widespread praise from the industry for its influence and dissemination power.   Frost & Sullivan has also been actively advocating for industry integration, building cross-field dialogue bridges, and stimulating cross-border wisdom through its high-end exchange platforms such as the Frost & Sullivan Summit, which has been held in China for nearly 20 consecutive years and has been running continuously for nearly 30 years globally. Since 2022, Frost & Sullivan has hosted the New Investment Summit Forum in Life Sciences in China. Over the years, it has gathered more than 100 industry leaders, senior executives from biopharmaceutical companies, medical device companies, investment institutions, and professional service organizations, attracting over 1,000 professional attendees to jointly discuss new investment cooperation models, build a closer, more efficient, and win-win cooperation network, and jointly promote the vigorous development of the domestic and international life science industries. To this day, the Frost & Sullivan Summit has become an important platform for outstanding domestic enterprises, the investment community, and regulatory authorities to exchange successful experiences and jointly discuss development directions, as well as an important window for the world to understand China's most cutting-edge development trends.   Increment: Collaborating with authoritative institutions to drive brand growth Frost & Sullivan places great emphasis on and actively participates in the construction of 'Brand Powerhouses'. It has carried out in-depth strategic cooperation with highly influential institutions at home and abroad such as Xinhua News Agency's 'China Famous Brands', CCTV-1's 'Big Country Brands', and Forbes China Group, to jointly explore the value of Chinese enterprises and assist in the growth of Chinese brands. By integrating global resources with local insights, Frost & Sullivan has established a market position validation system and innovatively proposed the 'FSBVFrost & Sullivan Brand Value Model'. It has provided market position validation and brand valuation services to over 1,000 enterprises, continuously helping a large number of Chinese brands achieve growth strategies both domestically and overseas.   Frost & Sullivan: Crossing Boundaries to Create TOP Value Brands Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan Greater China, stated that we highly agree with the concept of 'cross-border integration, connectivity, and incremental value' proposed by Xinhua News Agency “China Famous Brands&rdquo., and will continue to promote the deep integration of the health industry with resources from multiple fields through innovative practices and professional services. This award for '2025 Cross-Border Integration TOP Value Brand' signifies that Frost & Sullivan's outstanding achievements in the field of cross-border integration have been highly recognized by the industry and market. In the future, Frost & Sullivan will continue to use technology as the engine, connectivity as the bond, and brands as the cornerstone to continuously empower the high-quality development of the health industry and contribute professional strength to building a new ecosystem of cross-border integration!  

2025 Wuzhen Health Conference   On April 11, 2025, the Wuzhen Health Conference —— Health Industry Innovation Forum was held in Wuzhen. With the theme of "Cross-border, Linking, Incremental," the forum aimed to aggregate rich ecological resources from various industries, cross-border integrate with China's health industry, and create a benchmark for leading high-quality innovation and development in China's health industry.   Wang Chenhui, Partner-in-Chief and President of Frost & Sullivan Greater China, Co-founder and President of LeadLeo, was invited to attend the forum. In his keynote speech titled "Content Marketing in the New Era of Technology: AI Marketing," he stated that 2025 is the first year of AI search, and there will be a good dividend period in the next 3-5 years. Under the wave of AI, by integrating authoritative reports and multimodal distribution strategies, brands can optimize their content adaptation and exposure in AI search, enhancing their influence in the era of AI search. Wang Chenhui Wang Chenhui   AI technology reshapes content marketing: from passive response to active intelligence Wang Chenhui pointed out that traditional AI relies on rule-driven and structured data, limited to specific task scenarios. However, large model technology breaks through domain limitations through large-scale pre-training and parameter sharing, achieving "active interaction." The new generation of AI represented by GPT-4 not only has multimodal understanding capabilities but can also generate high-quality text, images, and even complex reasoning results based on user needs.   “AI search extends from text to images, videos, voice, and integrates with smart wearables to achieve full-scenario interaction; future searches will be more intelligent, creating new opportunities for brands to reach consumers precisely.” He cited examples where e-commerce platforms can analyze user behavior through large models to achieve precise push notifications. Based on this, interactions between brands and users will also develop in a more efficient and personalized direction, further enhancing user experience and brand influence.   Breaking the information pollution dilemma: LeadLeo builds a credible data ecosystem Facing the problem of false content proliferation caused by information explosion, Wang Chenhui pointed out that “to promote the healthy development of information dissemination in the new era of AI, building an authoritative content screening and full-chain monitoring mechanism is a key measure to suppress the spread of false information and consolidate user trust.”   LeadLeo made forward-looking arrangements, opening its corpus since 2022, becoming one of the first domestic large model training data providers, and cooperating with authoritative platforms such as Wantu and Choice to incorporate professional reports into the knowledge source of large models, taking the market lead in advance. “LeadLeo's reports are highly professional, relying on industry-university-research cooperation with top universities such as Peking University, Tsinghua University, and Fudan University to continuously produce cutting-edge research, ensuring the authority and credibility of content.” Wang Chenhui said.   LeadLeo 5.0 era: A leader in AI-driven industry research transformation “LeadLeo's evolution from 1.0 to 5.0 era has gradually built a foundation for industry research, promoted technological innovation and collaborative development, and ultimately led the AI-driven industry research transformation.”   Wang Chenhui pointed out that since its official establishment in the 1.0 era in 2018, LeadLeo has built basic industry and enterprise research databases; entered the 2.0 era, promoted data platform inclusion and standardized product development, improving the level of research; in the 3.0 era, established an institute and expanded technology and education sectors to achieve multi-field collaboration; entered the 4.0 era, gained recognition from society and government, and won the deep trust of investors and readers; in the 5.0 era, deeply integrated AI technology, LeadLeo will continue to produce authoritative content and lead the digital industry research process.   Future outlook: Intelligent search reconstructs brand and user connections At the end of his speech, he called on the industry to embrace AI transformation, “2025 is in the cycle of updating large model training data. If enterprises can complete high-quality content layout during this period, they will lock in a cognitive dividend for 3-5 years.”   Wang Chenhui emphasized that LeadLeo's practice of deeply integrating authoritative reports and AI technology will continue to provide the industry with traceable authoritative content, helping brands achieve efficient reach and user trust building in the era of AI search, and jointly promoting the information ecosystem to evolve towards transparency and intelligence.   “With LeadLeo AI content marketing, brands can achieve precise and stable natural traffic acquisition and marketing ROI improvement, seize the opportunity in AI search, and form long-term competitiveness.”

Frost & Sullivan insight OpenAI, once a champion of closed-source development, has now turned its attention to open-source projects. On April 1st, Sam Altman, CEO of OpenAI, announced on the social media platform X that the company will release a "powerful new open-weight model" within the coming months. After years of adhering to a closed-source approach, OpenAI is re-examining the value of open-source. What are the motivations behind big companies choosing open-source models? Is it to build an ecosystem, attract developers, or to foster technological iteration through community feedback? Will multi-modal model open-source lead to the emergence of DeepSeek within the multi-modal space? What are the particularities of multi-modal models compared to text generation? How should we evaluate the current open-source ecosystem for multi-modal models? What are the main challenges that need to be overcome in current multi-modal large models? How can open-source promote the refinement and maturity of technology? Which industries might benefit from the open-source of multi-modal models?   Tran Cui, Executive Director of Frost & Sullivan Greater China, was interviewed by 21st Century Business Herald to discuss the construction of the ecosystem and industry opportunities under the wave of multi-modal model open-source. 21st Century Business Herald *Click at the end of the article Read the original article for a complete report     Q: What are the motivations behind big companies choosing open-source models? Is it to build an ecosystem, attract developers, or to foster technological iteration through community feedback? Tran Cui Executive Director of Frost & Sullivan Greater China   Firstly, big companies' open-source of multi-modal models will build a three-dimensional ecosystem that includes developer communities, hardware adaptation solutions, and industry application cases. Such an ecosystem construction will lower the entry threshold for developers, enabling them to quickly get started and innovate. With the development of the ecosystem, technology will advance rapidly and explore the application possibilities of multi-modal models in more scenarios, laying a solid foundation for future commercialization.   In addition, open-source has a deeper meaning, which is to promote the popularization and democratization of technology. Big companies have lowered the threshold for users to enter the multi-modal model field through open-source, allowing more small and medium-sized enterprises and developers to use advanced technology at a lower cost. This inclusiveness of technology not only accelerates the penetration rate of AI technology but also injects vitality into the rapid development of the entire industry.   At the same time, open-source also reflects the social responsibility of big companies. By open-sourcing, big companies are actually paving the way for future technical standardization. This open attitude not only makes technology more transparent but also helps with the healthy development of the industry.   Q: Will multi-modal model open-source lead to the emergence of DeepSeek within the multi-modal space? Tran Cui Executive Director of Frost & Sullivan Greater China   Under the trend of multi-modal model open-source, enterprises like DeepSeek are expected to stand out. These enterprises, with their advantages in technology, cost-effectiveness, open-source strategy, and ecosystem construction, will emerge in the market and drive progress in the entire field of multi-modal large models.   Q: What are the particularities of multi-modal models compared to text generation? How should we evaluate the current open-source ecosystem for multi-modal models? Tran Cui Executive Director of Frost & Sullivan Greater China   Firstly, compared to text generation models, multi-modal models need to handle various types of data such as text, images, audio, and video, while text generation models mainly handle text data. This characteristic of diverse data processing makes the application scenarios of multi-modal large models more extensive, such as environmental perception and decision-making in intelligent driving, and diagnostic assistance in medical imaging. In addition, multi-modal models are more complex in technical implementation and need to solve problems such as alignment and fusion between modalities. For example, how to effectively combine visual information in images with semantic information in text to achieve accurate understanding and generation. Therefore, multi-modal models usually require larger computing resources and more complex training strategies. In summary, compared to text generation models, multi-modal large models have characteristics such as diverse data processing, extensive application scenarios, and technical implementation complexity.   Currently, the contribution of open-source communities to multi-modal models is increasing day by day. Developers and researchers share code, datasets, and research results through community platforms, accelerating the iteration and optimization of technology. This positive development has continuously led to breakthroughs in the performance of multi-modal large models, gradually narrowing the gap with closed-source models, and even surpassing them in some aspects. At the same time, their application scenarios are also constantly expanding, covering multiple fields such as image generation, video editing, and voice interaction.   Q: What are the main challenges that need to be overcome in current multi-modal large models? How can open-source promote the refinement and maturity of technology? Tran Cui Executive Director of Frost & Sullivan Greater China   Currently, multi-modal large models face challenges in data processing and alignment. Due to the heterogeneity of multi-modal data, there are differences in format, dimensionality, and statistical properties among different modalities, making data fusion and processing complex. In addition, data from different modalities may have complex associations at the time, space, and semantic levels, thus triggering challenges in modal alignment and fusion during training, as well as problems such as "catastrophic forgetting" of language ability. Therefore, training multi-modal large models not only requires a large amount of computing resources but also has long training times and low efficiency.   However, open-source initiatives have lowered the usage threshold for multi-modal large models, enabling more developers and enterprises to access and apply advanced technology. This change has not only promoted the spread of technology but also enriched data resources and improved data quality as an opportunity. These improvements help train better models and further promote the refinement of technology.   Q: Which industries might benefit from the open-source of multi-modal models? Tran Cui Executive Director of Frost & Sullivan Greater China   The open-source of models will greatly promote the development of multiple industries. By providing high-quality capabilities such as video generation, voice interaction, and image generation, these models will bring innovation and efficiency improvements to multiple fields such as film and television entertainment, intelligent vehicles, education, autonomous driving, finance, logistics, healthcare, entertainment creativity, office tools, social entertainment, and legal consulting. *This interview has been published in 21st Century Business Herald. The reporter is Dong Jingyi, and the original title is: "Tearing off the Closed-Source Label! OpenAI 'Testing the Waters' with Open-Source, a Counterattack or Compromise?"

at 3 month 22 held on 2025 At the Frost & Sullivan China Entrepreneur Annual Conference and the Forbes China Industry Development Pioneer Awards Ceremony, Frost & Sullivan ( Frost & Sullivan Wang Chenhui, Managing Partner & President of Frost & Sullivan Greater China, delivered a speech on 'Content Marketing in the New Technology Era'. AI The wonderful speech in "Marketing", which delved into AI The profound impact of technology on industry development, as well as the role of brands in AI Strategies for responding to the times.   Wang Chenhui, Partner-in-Chief and President of Frost & Sullivan Greater China Region   AI Large models drive content marketing transformation   Wang Chenhui pointed out that since this year's Spring Festival, terms such as 'artificial intelligence' have once again become industry buzzwords, with large models making significant progress in reinforcement reasoning capabilities, computing power, and multimodal integration. Especially the addition of networking functions has made ordinary consumers feel the convenience and personalization of large model tools, driving a substantial increase in the daily and monthly active users of related tools. However, traditional PGC (professional-generated content) and UGC (User-generated content) models still face challenges in terms of information rigor and data pollution. In AI era, combine PGC high-quality works and UGC The rapid response capability enables the creation of more excellent content. It effectively conveys professional knowledge and information that was previously difficult for ordinary consumers to access to end customers, thereby promoting the progress of information production and circulation.   AI The Rise of Search and User Needs Satisfication   Wang Chenhui emphasized, AI Search is current. AI The fastest-growing area in the track industry. Compared to traditional search engines, AI Search can better identify user intent and help find more accurate information sources through search tools. Ordinary users often cannot delve into finding information when using traditional search engines due to limited energy. AI The inclusion allows users to view more references, providing stronger support for research. AI The popularization of search tools has met users' reliance on authority, avoidance of cognitive burden, and demand for efficiency improvement and immediate satisfaction. Consumers will AI Tools are regarded as your personal experts, and you want to directly access research results rather than reading obscure papers or reports. AI The development of technology, the future AI Search will be more diversified, not limited to web pages and APP It may also expand to various terminal devices such as smart cockpits, headphones, and glasses, changing people's search and communication habits.   Brand in AI Opportunities and Challenges of the Times   Wang Chenhui mentioned, AI The brand building of the times faces new opportunities and challenges. On one hand, through AI Search allows brands to reach target users more accurately, thereby enhancing brand awareness and influence. For instance, some brands optimize their content through AI The mention rate in the responses has seen a significant increase. On the other hand, AI The popularization of tools has also led to rapid information dissemination and the risk of data pollution. The release of bad content may cause damage to brands and categories. Therefore, brands need to strengthen underlying content defense to prevent false information from having a negative impact on brands and segments. Frost & Sullivan tests brands and categories on AI Performance in context, thereby helping brands understand their own AI Understand the cognitive environment and formulate corresponding content marketing strategies.   AI Marketing   Wang Chenhui suggested that brands AI The era adopts proactive and positive strategies to enhance brand influence. Firstly, brands need to attach importance to AI Search optimization is achieved by publishing high-quality, rigorous research reports and disseminating press releases through whitelist media to spread correct and authentic knowledge, thereby enhancing the brand's AI The mention rate and content authority in the answers. Secondly, brands should pay attention to AI The traceability of search results ensures the accuracy and credibility of brand information, namely 'certainty of rights, authenticity, and value'. In addition, brands can also enhance their brand reputation and authority by collaborating with professional research institutions, leveraging their expertise, industry reputation, and authority. AI Competitiveness in the environment. At the same time, brands need to pay attention AI The development trend of technology, timely 'health check-ups', adjusting marketing strategies to adapt to the ever-changing market environment, and building one's own knowledge fortress.     Frost & Sullivan's' AI The Mission and Action of the Times   Wang Chenhui said that as a professional research institution, Frost & Sullivan is committed to in AI The Times provides high-quality research and consulting services for brands and society. Frost & Sullivan cultivates industry-academia research talents through open-source research and collaboration with universities, providing high-quality data support for large model training. At the same time, Frost & Sullivan actively participates in the formulation and promotion of industry standards, driving AI The healthy development of technology.    Frost & Sullivan hopes to help brands in AI The era constructs a clear online environment and a knowledge Great Wall to enhance the value and influence of the brand.   At the end of his speech, Wang Chenhui called on leading brands and enterprises across all industries to take the lead in attaching importance to it AI Content marketing and brand building in the era, actively responding AI Opportunities and challenges brought about by technology. He emphasized that brands need to AI Build defensive barriers in the environment to prevent infringement of false information. At the same time, enhance brand influence through innovative marketing strategies and high-quality content output. AI Competitiveness in the Search Era. Wang Chenhui's speech for brands in AI The marketing and construction of the era have provided valuable guidance and inspiration, attracting widespread attention and discussion among participants.

Frost & Sullivan On March 22, 2025, the '2025 Frost & Sullivan China Entrepreneurs Annual Conference and Forbes China Pioneer Innovators in Industry Development Selection Gala Evening of Honor', co-hosted by Frost & Sullivan and Forbes China, was successfully held at the Shanghai Seagull Lijing Hotel.   At this grand event, a total of 21 outstanding experts and entrepreneurs in the medical field, 6 industry-leading enterprises, 2 influential institutions, an innovative brand, and an ESG benchmark were selected. These outstanding individuals and enterprises have demonstrated the vibrant vitality and development potential of China's medical industry with their exceptional innovation capabilities and relentless exploration spirit, painting a magnificent blueprint full of hope and dynamism for the future of the industry. Main Selection - 2025 Forbes China's Top Industry Development Leaders     Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan Greater China, and Professor Wang Yu, Expert Advisor to the Jury and Chairman of the Chinese Liver Disease Prevention and Control Foundation, presented awards to Jiang Mingyu, Executive Director, Vice President and Secretary of the Board of Directors of Tongyuan Kang.   ● Company Introduction Zhejiang Tongyuan Kang Medicine Co., Ltd. (TYK Medicines, Inc., stock code: 02410.HK) is a clinical-stage biopharmaceutical company focusing on cancer treatment, established in November 2017, headquartered in Huzhou, Zhejiang. The company is committed to developing small molecule targeted therapeutic drugs and possesses a small molecule drug design and screening platform, deuterated drug research and development technology platform, and macromolecular immunotherapy platform. Its core product, TY-9591, is a third-generation EGFR-TKI that is undergoing pivotal clinical trials. Tongyuan Kang Medicine successfully listed on the Hong Kong Stock Exchange on August 20, 2024, raising HK$579 million. The company plans to start operating its cGMP compliant production facility in Huzhou in the first quarter of 2025, with a designed annual production capacity of about 150 million tablets or capsules. In the future, the company will promote the commercialization of its core products through internal efforts and external cooperation, as well as expand the global market.   Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan's Greater China Region, and Professor Wang Yu, an expert advisor to the judging panel and Chairman of the China Hepatitis Prevention and Control Foundation, presented awards to Xiang Gongwei, Chairman of Inner Mongolia Otterchi Mongolian Medicine Co., Ltd.   ● Company Introduction Inner Mongolia OTCHIMON Pharmaceutical Co., Ltd. is a national high-tech enterprise, with more than ten subsidiaries including Ulanhot Zhongmeng Pharmaceutical Co., Ltd., Hohhot Jinshan Mongolian Medicine Factory, Inner Mongolia OTCHIMON Pharmaceutical Co., Ltd., Beijing Rangfeng Pharmaceutical Co., Ltd., and Xing'an League OTCHIMON Agricultural Resources Development Co., Ltd. It has formed a new development system for the entire Mongolian medicine industry chain, integrating Mongolian medicinal material planting, research and development, production, sales, and modern pharmaceutical logistics. Over the years, with the strong support of Party committees and governments at all levels, the company has made significant progress. It is now one of the Mongolian medicine production enterprises with the largest scale of infrastructure construction, the largest number of exclusive intellectual property Mongolian medicines, the most Mongolian medicine trade names, the widest sales network coverage, the largest market scale, the largest number of Mongolian medicines included in the national medical insurance catalog, and the earliest establishment of factories.   Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan's Greater China Region, and Professor Wang Yu, an expert advisor to the judging panel and President of the China Foundation for the Prevention and Control of Hepatitis, presented awards to Li Ding, Chief Technology Expert of Shaanxi Yun.   ● Company Introduction Shaanxi Yungu Zhonghui Biopharmaceutical Co., Ltd. is an innovative enterprise focusing on the biomedical field, dedicated to researching, developing, producing, and selling high-quality biopharmaceutical products. The company focuses on the application of biotechnology in the pharmaceutical industry, promoting the development of the health industry through technological innovation and rigorous quality control, and providing advanced biomedical solutions to customers worldwide.   Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan Greater China, and Professor Wang Yu, Expert Advisor of the Jury and Chairman of the China Foundation for the Prevention and Control of Hepatitis, presented awards to Cai Jiangnan, Executive Chairman of Shanghai Chuangqi Health Development Research Institute.   ● Company Introduction The Shanghai Chuangqi Healthy Development Research Institute is established within the field of big health, aiming to promote in-depth exchanges and learning among industries, academia, government, investment, and media by connecting policy systems, technological development, and business models. It aims to create a platform that helps value innovation in the health industry and sustainable growth for leaders. The institute is guided by the Shanghai Health Commission. In 2019, Professor Cai Jiangnan, an expert in health economics and health policy, as the founder, with the support of government leaders, academic experts, industry leaders, and practitioners in the field of big health, joined forces with Professor Hu Shanlian from the School of Public Health at Fudan University, Professor Yu Wei from the School of Public Economics and Management at Shanghai University of Finance and Economics, and Professor Song Chengli from the School of Medical Devices and Food at ShanghaiTech University to promote the establishment of the institute. Adhering to the mission of 'Intelligent Leadership, Health Innovation, Value Creation', the institute conducts research consultations, learning exchanges, and conferences and forums around three levels: policy systems, industrial innovation, and technological development. By empowering leaders in the health industry, it aims to promote the renewal and upgrading of management capabilities in China's health industry; by building bridges between advanced domestic and international research achievements and market applications, it promotes value enhancement and innovation in the field of big health.   Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan Greater China Region, and Professor Wang Yu, an expert consultant to the judging panel and President of the Chinese Hepatitis Prevention and Control Foundation, presented awards to Chen Wei, Chairman and General Manager of Shanghai Zhongke New Life Biotechnology Co., Ltd.   ● Company Introduction Shanghai Zhongke New Life Biotechnology Co., Ltd. was established in 2004, originally as the external service platform of the Proteomics Research and Analysis Center at the Shanghai Institute of Life Sciences, Chinese Academy of Sciences. The company has formed an enterprise innovation research institute through technical cooperation with domestic and international research institutions and the innovative capabilities of its own R&D team. It has established four major technical platforms: a large-scale array multi-omics research technology platform, a preclinical CMC research and analysis platform for biopharmaceuticals, a platform for the registration and approval of biopharmaceuticals and medical devices, and an AI big data algorithm platform. The company has deployed three business segments: technology services, biomedicine, and consumer healthcare CRO services for the large health industry, constructing a business blueprint for life science and health that combines AI big data with mass spectrometry multi-omics technology applications.   Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan's Greater China Region, and Professor Wang Yu, an expert advisor to the judging panel and President of the Chinese Hepatitis Prevention and Control Foundation, presented awards to Huang Yuanyu, Chairman and Chief Scientific Officer of Suzhou Xuanjing Biotechnology Co., Ltd.   ● Company Introduction Suzhou Xuanjing Biotechnology Co., Ltd. and Beijing Xuanjing Rui Medicine Technology Co., Ltd. were established in 2022. The company focuses on the research, development, and industrialization of innovative small nucleic acid drugs, aiming to be a pioneer and disruptor in the field of nucleic acid pharmaceuticals. The company has gathered a core team with over 10 years of industry experience, possessing rich expertise in various aspects such as nucleic acid biology, nucleic acid chemistry, hepatic and non-hepatic delivery, project management, pharmaceutical research, registration and application, clinical development, etc. The company has established a global independent intellectual property system (RIHOST) targeting key technical bottlenecks, intellectual property barriers, and future development directions in this field. ® RICMO ® LICOD ® The core technology platform has established multiple in vivo delivery technologies for non-liver tissues based on various exclusive strategies, making it a global leader in the research and development of non-liver delivery technologies and pipelines. The company has a profound understanding and differentiated considerations in target and indication selection. Liver-targeted products have already entered clinical research, and the development of a series of small nucleic acid drugs for non-liver tissues will be rapidly advanced to bring benefits to patients.   Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan Greater China, and Professor Wang Yu, an expert advisor to the judging panel and President of the China Hepatitis Prevention and Control Foundation, presented awards to Zhang Danni, Co-founder of Shuimu Future.   ● Company Introduction Shuimu Future (Beijing) Technology Co., Ltd. is a new type of drug R&D platform company driven by A1+ cryo-electron microscopy. Based on core technologies such as structural biology, deep learning, and high-performance computing, the company promotes digital innovation in drug R&D in areas such as small molecules, antibody drugs, protein degradation, and gene therapy, helping global innovative pharmaceutical companies significantly improve their drug R&D efficiency and success rate.   Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan's Greater China Region, and Professor Wang Yu, an expert consultant to the judging panel and Chairman of the Chinese Liver Disease Prevention and Control Foundation, presented awards to Song Ning, Chairman and General Manager of Hangzhou Desheng Biotechnology Co., Ltd.   ●  Company Introduction Hangzhou Deshi Biotechnology Co., Ltd. was established in 2016 and is a global leader in medical imaging AI and medical imaging equipment. It has seven subsidiaries and branches in countries and regions such as Singapore. The company is led by several national experts who oversee R&D, production, and sales teams. More than 50% of the R&D team has a master's degree or above and over 10 years of experience in the medical industry. The company has successively presided over and participated in several national and provincial-level scientific research projects, including special projects of the National Key Research and Development Program, and has created the world's largest medical imaging general large model with the largest parameter scale. It holds more than 60 core independent intellectual properties in multiple fields such as prenatal diagnosis, assisted reproduction, blood tumor diagnosis, and radiological health in China, the United States, Europe, and other places. The company has established a Zhejiang Provincial Enterprise R&D Center, training and exhibition center, a GMP production workshop with a capacity of 100,000 to 1 million units, mold processing and 3D printing workshops, etc. In 2019, it successfully released the world's first chromosome intelligent analysis system (AutoVision) based on AI technology. ® ) and its high-precision scanning equipment (MetaSight ® In 2023, it won the certification of 'International First-Generation Equipment' from relevant government departments, and its market share of several core medical products has been steadily increasing.   Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan Greater China, and Professor Wang Yu, an expert advisor to the judging panel and Chairman of the China Hepatitis Prevention and Control Foundation, presented awards to Wang Junqi, Chairman and CEO of Jingzhi Future.   ● Company Introduction Jingzhi Future (Guangzhou) Intelligent Technology Co., Ltd. is a global leader in the field of breath testing, a national high-tech enterprise, one of the first projects signed for the Disruptive Technology Innovation Fund, and a recipient of the "National Disruptive Technology Innovation Key Special Project." Its products have been selected for the National "13th Five-Year Plan" Science and Technology Innovation Achievements Exhibition. Relying on its independently developed "Microelectromechanical (MEMS) + Microfluidic + Artificial Intelligence (AI)" integrated technology, the company has successfully launched the world's first chip-based breath molecular analysis micro gas chromatograph. It can accurately perform qualitative and quantitative analysis of volatile organic compounds (VOC) in human breath, with a detection sensitivity reaching the ppt level (one trillionth), breaking international monopolies and realizing the bedside, intelligent, and low-cost development of breath metabolomics testing equipment. Currently, this product has obtained Class II innovative medical device certification and has been implemented first in physical examination centers and community health scenarios. In the future, it can cover areas such as early cancer screening, rapid disease diagnosis, and home monitoring of chronic diseases, providing a new non-invasive, convenient, and inclusive disease diagnosis and management solution.   Dr. Wang Xin, Global Partner at Frost & Sullivan and Chairman of the Greater China Region, and Professor Wang Yu, an expert advisor to the judging panel and Chairman of the Chinese Hepatitis Prevention and Control Foundation, presented awards to Zhu Shu, Founder/Chairman of Hefei Han Microbial Technology Co., Ltd.   ● Company Introduction Hefei Han Microbial Technology Co., Ltd. is the first domestic company to deeply explore the gut-brain axis, integrating natural microorganisms, metabolites, and synthetic biology. Han Microbial focuses on developing live bacterial drugs and small molecule drugs based on natural microbial metabolites as its core business. It has developed breakthrough therapies based on microorganisms for various immune and neurological diseases such as inflammatory bowel disease, IgA nephropathy, depression, and Parkinson's disease.   Dr. Wang Xin, Global Partner at Frost & Sullivan and Chairman of the Greater China Region, and Professor Wang Yu, an expert consultant to the judging panel and Chairman of the China Hepatitis Prevention and Control Foundation, presented awards to Chen Yuxin, Chairman and CEO of Jiangsu Pule Medicine Biotechnology Co., Ltd.   ● Company Introduction Jiangsu Pulai Pharmaceutical Biotechnology Co., Ltd. was established in April 2009 and is a high-tech biopharmaceutical enterprise focusing on the research, development, and production of peptides and small molecule drugs. The company is located in the High-tech Development Zone of Jiangyin City, Jiangsu Province and is a national high-tech enterprise. It has wholly-owned R&D subsidiaries, Changchun Pulai Pharmaceutical Biotechnology Co., Ltd. and Nanjing TinoV Pharma Technology Co., Ltd., as well as subsidiaries Jiangsu Pulpe Pharma Technology Co., Ltd., Pulai Medical Holdings (Hong Kong) Co., Ltd., and Pulai Pharma (Australia) Co., Ltd.   The company's core development strategy is centered around innovative drug research, development, and production. It has established a variety of first-in-class peptide and small molecule new drug R&D pipelines led by national Class 1 anti-infection, anti-tumor, autoimmunity, and metabolic new drugs. The company currently holds dozens of patents, including PCT international invention patents, US and EU invention patents, Chinese invention patents, utility model and design patents, etc.   Since its establishment, the company has undertaken more than 40 scientific research projects, including major national science and technology projects such as the 12th Five-Year Plan and 13th Five-Year Plan 'Major New Drug Development', and the National 'Scholarly Exchange Students' Science and Technology Innovation and Entrepreneurship Project Selection Fund.   In the future, based on its existing antibacterial peptide series products, the company will continue to prioritize research and development alongside production and operation. It will explore the market with high-quality innovative products, striving to become a leader among international antibacterial peptide pharmaceutical enterprises!   Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan's Greater China Region, and Professor Wang Yu, an expert advisor to the judging panel and President of the Chinese Liver Disease Prevention and Control Foundation, presented awards to Zhang Dan, co-founder and co-chairman of Jiangsu Puxin Biopharmaceutical Co., Ltd.   ● Company Introduction Puxin Biotech, positioned as a global provider of integrated solutions for cell therapies, has its headquarters in Wuzhong District, Suzhou City, on the beautiful shores of Taihu Lake. It owns a Suzhou headquarters (10,000㎡ GMP factory building and R&D center) and an European headquarters in Liege, Wallonia region of Belgium, achieving global supply of cell preparations. Puxin Biotech focuses on the field of cell therapies and has established a dedicated HiPlasTM vector system and HiLenti for different types of cell therapies such as CAR-T, TCR-T, CAR-NK, TIL, and HSC. ® Suspension Serum-Free Virus Production Platform and HiCellx ® A cell process development platform with high transduction efficiency and a quality control platform. The platform has supported multiple partners in successfully incubating various drugs such as CAR-T, TCR-T, CAR-NK, and HSC, totaling more than 10 clinical approval documents from regulatory agencies including NMPA, EMA, and FDA, and has facilitated the conduct of multiple international multi-center clinical trial projects.   Dr. Wang Xin, Global Partner at Frost & Sullivan and Chairman of the Greater China Region, Professor Wang Yu, an expert advisor to the judging panel and President of the China Hepatitis Prevention and Control Foundation, presented the award to He Ruyi, Chief Scientist at CIC Healthcare.   ● Company Introduction Guotou Innovation (Guotou Investment & Merchants) focuses on investment in advanced manufacturing industries, values technological innovation, outstanding entrepreneurs, and team values. It particularly invests in fields such as intelligent manufacturing, new energy intelligent vehicles, life sciences, information and communication technology, etc., aiming to promote the green, digital, and service-oriented development of manufacturing. The team has managed assets of nearly 100 billion RMB in total, with investors including financial institutions, social security funds, state-owned and private capital.   Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan's Greater China Region, and Professor Wang Yu, an expert advisor to the judging panel and President of the Chinese Liver Disease Prevention and Control Foundation, presented awards to Ding Zhenhu, Chairman of Anhui Zhongji Guoyi Medical Technology Co., Ltd.   ● Company Introduction Anhui Zhongji Guoyi Medical Technology Co., Ltd. was established in January 2016 and is a pioneer and leader in the domestic medical supplies SPD smart supply chain. The company takes serving the high-quality development of Chinese hospitals as its mission and has pioneered the domestic third-party pure service model for SPD and the city-wide medical supplies smart management service center (CMS). Since its establishment, it has received capital injections from investors such as Hefei State-owned Assets Supervision and Administration Commission, Jifu Venture Capital, Xinli Capital, iFlytek, Qianhai Fund, Anhui Railway Fund, etc., and has introduced GF Securities, planning to go public as a whole in 2026.   Wang Chenhui, Partner-in-Chief and President of Frost & Sullivan Greater China, presented awards to Jinhua Jun, Founder, Chairman, CEO & CTO of Shanghai Jun Sai Biotechnology Co., Ltd.   ● Company Introduction Jun Sai Biotech is committed to the development of innovative drugs and therapies for tumor infiltrating lymphocytes (TIL). Through recognition as a national high-tech enterprise and a specialized, refined, characteristic and innovative small and medium-sized enterprise in Shanghai, it has received the 'Shanghai May 1st Labor Medal' and developed into a leading enterprise in the field of TIL therapy in China. The company has independently established the internationally leading DeepTIL. ® Cell expansion and NovaGMP ® The company has developed a gene modification technology platform and a series of globally leading TIL cell drugs based on this platform. GC101, the world's first natural TIL therapy without chemoembolization or IL-2 injections, which is currently in pivotal Phase II clinical trials, and GC203, a non-viral vector gene modification TIL therapy in Phase I clinical trials, have demonstrated excellent clinical efficacy in the treatment of more than 10 different types of advanced solid tumors, leading in clinical progress domestically. The company's core technology has been deployed in nearly 50 Chinese invention patents and international PCT applications, and has received funding for 9 special projects from national-level bodies, Shanghai Science and Technology Commission, Development and Reform Commission, etc.   The 2025 Forbes China Industry Development Pioneer Awards Ceremony   Wang Chenhui, Partner-in-Chief and President of Frost & Sullivan Greater China, and Guo Junyi, General Manager of Business Operations at Forbes China Group, jointly presented awards to representatives of the 2025 Forbes China Industry Development Pioneer Companies. Recipients include Li Zhan, Chairman of Anhui Zesheng Technology Co., Ltd., Liang Wenqing, Chairman and CEO of Changfeng Pharmaceutical Co., Ltd., Qu Chao, Founder and Vice Chairman of Pelt Medical Technology Co., Ltd., Li Zhi Le, Director, Chief Financial Officer, Board Secretary, and President of Pelt America of Shanghai Mengke Pharmaceutical Co., Ltd., Jiao Peng, Chairman and CEO of Bibo Biotech, and Guo Zhenyu, Chairman and CEO of Yunnan Baitai Biotechnology Group Co., Ltd.   ● Company Introduction Anhui Zesheng Technology Co., Ltd., as a national key “little giant” enterprise and high-tech enterprise focusing on specialized, refined, characteristic and innovative products, has achieved an all-round layout of its own brand portfolio “Annaiji”, “Sain Biomedical”, “3AMaterials”, “3ABio”, “3ASenrise”, covering the entire chemical industry chain and deeply involved in the fields of chemical reagents and pharmaceutical intermediates. The company focuses on industries such as medicine, semiconductors, and new energy, providing high-purity chemical raw materials and advanced material solutions, with products covering organic, inorganic, and equipment consumables. With outstanding independent innovation capabilities and strict quality control, it has built a global sales network and cooperated closely with leading enterprises in the industry. The company continues to increase investment in research and development, holds multiple core patents, and is committed to becoming a global leading supplier in niche fields.   ● Company Introduction Changfeng Pharmaceutical is a global emerging leader in inhalation delivery technology, focusing on the treatment of respiratory diseases. The company's mission is to develop innovative therapies to help patients breathe better. As one of the few companies worldwide that master the main inhalation formulations (the gold standard for treating respiratory diseases), the company has developed a rich portfolio of products. At the same time, the company actively explores innovative inhalation formulation dosage forms and extends its treatment areas to new disease areas, developing potential first-in-class or China-first-in-class treatments that comprehensively cover patients, medical specialties, and treatment areas. The company has obtained six product approvals from the National Medical Products Administration (NMPA) and the US Food and Drug Administration (FDA), and has achieved commercial success, demonstrating its strong capabilities in clinical development, production, regulatory affairs, and commercialization. Standing at the forefront of global innovation, the company is conducting global development of more than 20 candidate products in major markets such as China, the United States, Europe, emerging markets in Southeast Asia and South America, and more.   ● Company Introduction Panther Healthcare is a brand under Beijing Panther Medical Technology Co., Ltd. Panther Healthcare is a rapidly growing professional company rooted in China, focusing on the research, development, production, and sales of surgical instruments. The company was established in 2002 with its headquarters located in Beijing, covering more than 70 countries or regions across mainland China and overseas. In 2010, Panther Healthcare received investment from SoftBank China Venture Capital and became a foreign-invested enterprise. In May 2011, it was rated as a national high-tech enterprise. In January 2014, the company was ranked 90th among the most potential enterprises in China by Forbes magazine of the United States. After several years of rapid development, the company has become a leading brand among local stapler brands.   ● Company Introduction Mengke Pharmaceutical is an innovative biopharmaceutical company centered on the treatment of infectious diseases, with global independent intellectual property rights and international competitiveness. It is committed to discovering, developing, and commercializing innovative drugs for unmet clinical needs. Since its establishment, the company has always adhered to the philosophy of "seeking good efficacy with good drugs," focusing on the increasingly serious bacterial resistance problem globally. With solving clinical challenges and differentiated innovation as its core competitiveness, the company aims to become a respected leader in innovative drug development, providing patients with better differentiated treatment products. The company has established R&D centers in China and the United States and has an international core R&D team. The company's R&D team has many years of experience in international innovative drug research and management, having led or participated in the development of several marketed anti-infective new drugs. The company insists on independent research and development, delves into specialized niche areas, and has established an integrated antibacterial new drug R&D system within the company, covering the entire new drug development process including early design and screening of innovative drugs, preclinical evaluation, global clinical development, registration application, and production management. The company adopts the operational model of simultaneous new drug development in China and the United States with international experience and standards.   ● Company Introduction Bibo Biotech is one of the few CDMOs in the world capable of providing large-scale commercial production for biopharmaceutical companies. It has two R&D centers in Boston and Shanghai, as well as three GMP factories globally. The company has built multiple core technology platforms, including microbial fermentation, mammalian cell culture, XDC, and GMP production facility engineering customization services, providing customers with one-stop services covering the entire lifecycle of biopharmaceutical CMC.   Relying on PanFlex ® - Engineering technology. Bibo Biotech has built the world's first ultra-large-scale stainless steel mammalian cell production platform with a working volume of 30,000 liters per tank, and has achieved GMP production of biopharmaceutical products, filling a core technology gap in China's biopharmaceutical industry. It can provide the industry with a full range of production capacity solutions from 500 liters to 30,000 liters, helping customers gain comprehensive advantages in cost, product quality, and supply assurance.   The core team members of Bibo Biotech have experience leading over 130 projects, including 21 listed product projects, providing high-quality and efficient R&D and production services for numerous domestic and international partners. Driven by technology and demand, biopharmaceuticals are entering a fourth wave of biopharmaceutical manufacturing characterized by a 30,000-liter stainless steel bioreactor technology as the core, a total production capacity of one million liters as the foundation, and large-scale intensive production. As a leader in the fourth wave of biopharmaceutical manufacturing, Bibo Biotech independently designed the world's first 30,000-liter production platform and achieved an engineering and technological miracle of "Right on the First Time" and "Success on the First time" during the process of GMP production for biopharmaceutical products!   ● Company Introduction Yunnan Betaine Biotechnology Group Co., Ltd. was established in 2010 and is a large health industry group integrating R&D, production, and marketing, positioned for the skin health internet+. The company went public on the ChiNext of the Shenzhen Stock Exchange on March 25, 2021, with the stock code 300957, becoming the first stock of efficacy skincare products in China.   Sub-listing of Top 100 Chinese Industry Leaders by Forbes 2025 沙利文全球主管合伙人兼董事局执行董事祖亚儒（Aroop Zutshi）、福布斯中国集团商务运营总经理郭隽祎共同为2025福布斯中国行业发展领军企业——华熙生物颁奖   ● 企业介绍 ：华熙生物（688363.SH）成立于2000年，是一家合成生物科技创新驱动的生物科技公司，生物材料全产业链平台公司。公司致力于“提高生命质量、延长生命长度”。公司的使命是“让每个生命都是鲜活的”，希望为人类持续带来健康美丽、快乐的生命体验。在全球生物科技产业迅猛发展的大背景下，华熙生物一直基于自身产业优势不断推动生命科学的进步。公司从生物学基础研究出发，聚焦糖生物学和细胞生物学这两大基础学科，依靠合成生物领域的产业转化优势，为生命健康提供科学解决方案，并从生物材料的上游研发开始，从原料生产贯通到品牌建设，探索了一条生物材料全链路转化的路径。   2025福布斯中国行业发展领军企业颁奖现场   沙利文全球主管合伙人兼董事局执行董事祖亚儒（Aroop Zutshi）、福布斯中国集团商务运营总经理郭隽祎共同为2025福布斯中国行业发展领军企业依科赛生物科技股份有限公司、睿健医药iRegene、汉邦科技、深信生物（Innorna）颁奖。   ● 企业介绍 ：依科赛生物创立于2013年，以“加快生命科技应用，造福百姓健康”为使命，是国内生物制造上游领域关键原材料领军企业，是全球第五、国内最大胎牛血清生产商之一，国内首选GMP级别细胞基因治疗无血清培养基品牌，也是抗体培养基定制化和生物药质量检测试剂盒的领导企业，为生命科学研究和生物药产业赋能。公司是国家高新技术企业，国家级专精特新小巨人企业，中国首家国际血清行业协会（ISIA）会员单位，江苏省生物制药、细胞治疗等领域用CD无血清培养基工程研究中心、苏州质量奖企业。   公司依托国际化和专业化的研发技术团队、质量和生产团队以及商业化团队，持续创新，追求卓越，在不断优化产品性能的同时，确保可靠的质量和稳定的供应，其产品为国内外科研、生物药产业领域诸多头部客户广泛使用，全面赋能生物医药产业的快速健康发展，致力于成为全球生物制药和生命科学研究细胞培养工具的领导企业。   公司目前已服务超过10,000家客户遍布高校、研究所、医院、生物制药、基因测序等领域，在中国主要城市设有管理和营销中心，并在美国、澳大利亚和乌拉圭设有分公司。   ● 企业介绍 ：武汉睿健医药科技有限公司作为一家致力于成为全球领先的通用型化学诱导细胞治疗药物企业，是全球较早将“AI＋化学诱导”应用于细胞特定功能改造的Biotech公司。与基因治疗，及基因编辑疗法相比，该平台具有更为高效、安全、低成本且更适合大规模工业生产的优势。基于化学诱导这一独特平台，睿健医药建立了丰富的通用型细胞治疗产品管线，为以帕金森病为代表的神经退行性疾病、失明等“无法治愈”疾病开发通用型细胞治疗产品，带来治愈可能。   公司首款基于“化学诱导”平台研发的产品“人源多巴胺能前体细胞注射液NouvNeu001”已于2023年8月获得NMPA批准正式进入临床阶段，成为全球首个进入临床阶段的化学诱导iPSC衍生治疗产品，2024年6月也获得美国FDA开展海外临床，睿健也因此实现了全球首个人诱导多能干细胞（iPSC）衍生帕金森管线中美两地IND“双报双批”，更具有突破意义的是，睿健医药“化学诱导平台”在2024年3成为全球首个获得美国FDA特殊豁免资格的研发体系。面向早发型帕金森的第二款产品NouvNeu003也于2023年12月获得NMPA批准正式进入临床I期。目前，睿健的NouvNeu001和NouvNeu003均已完成Ⅰ期临床试验全部受试者入组给药，目前安全性、耐受性良好，并已顺利达成研究主要目的。此外，睿健医药的突破性眼科产品NouvSight001于2024年3月也被美国FDA授予孤儿药认定（ODD）。   到目前为止，睿健医药已成为国际iPSC领域获得监管机构认可最多，管线进展最快，治疗患者最多的领军企业，其独特的“化学诱导”细胞功能改造平台也在临床阶段进一步凸显出其独特优势，未来将会为患者带来更多突破性产品。   ● 企业介绍 ：汉邦科技是一家以色谱产品为核心的高新技术企业，主要为生物制药领域下游提供专业的分离纯化装备、耗材与技术服务。经过多年发展，公司形成了以小分子药物分离纯化装备、大分子药物分离纯化装备和实验室仪器设备为主的产品线，包括规格丰富、用途多样的各类分离纯化设备及配套设备、配件等，同时为客户提供制药工程下游分离纯化整体解决方案。   ● 企业介绍 ：深信生物于2019年创立，是一家递送技术平台型公司，主要从事核酸药物的递送技术开发，是国际范围内为数不多的掌握脂质纳米粒(LNP)底层技术的硬科技公司。深信生物拥有全球领先的具有自主知识产权的LNP递送技术，并在全球范围内进行了专利布局。   深信生物已与多家国内外生物医药公司达成合作，以共同开发或授权方式，使得更多的公司可以利用深信生物的LNP平台技术开发更多新型核酸药物。涉及的疾病领域包括罕见病、传染性疾病以及肿瘤等，部分管线已进入临床试验阶段。   子评选-2025福布斯中国行业发展影响力机构 2025福布斯中国行业发展影响力机构颁奖现场   福布斯中国集团商务运营总经理郭隽祎，沙利文合伙人兼中东、南亚、北非区总裁Robin Joffe共同为2025福布斯中国行业发展影响力机构代表颁奖。获奖机构：中国肝炎防治基金会、甫康（上海）健康科技有限责任公司、病痛挑战基金会。   ● 机构介绍 ：中国肝炎防治基金会是1996年6月由中国人民银行批准成立，1998年8月民政部注册登记的全国性公募基金会。2016年10月被民政部认定为慈善组织；2019年被民政部评为4A级社会组织。业务主管单位为国家卫生健康委员会，2022年7月由国家疾病预防控制局代管。业务范围包括：配合政府有关部门进行肝炎预防控制规划的实施，重点资助偏远、贫困地区开展肝炎防治工作；促进肝炎防治知识的传播与宣传动员；资助肝炎防治的科学研究，开展专业培训和技术咨询；组织开展肝炎患者互助互教交流活动；承接政府有关部门向社会组织购买服务的项目工作；推动国内、外友好往来，加强学术交流与合作。   中国肝炎防治基金会以“防治肝炎造福人类”为己任，以“积极募集资金与物资，开展公益活动，推动中国肝炎防治事业发展，提高全民族健康素质”为宗旨，落实“预防为主防治结合”的卫生健康方针，在民政部、国家卫生健康委员会、国家疾病预防控制局的领导下，积极募集资金与物资，在调查研究、建言献策、普及知识、推广干预模式、健康帮扶、人才培养、繁荣学术交流等方面充分发挥全国性公募基金会的作用。积极开展各类公益项目，直接惠及民众约1.1亿人次，是中国肝炎防治事业不可或缺的重要平台。   ● 机构介绍 ：甫康药业（Convalife Pharmaceuticals ）是一家立足中国、面向全球的处于临床阶段的新药研发企业，致力于在肿瘤、病毒和衰老疾病领域开发创新药物。甫康药业核心团队主要来自诺华、华海等国内外顶尖药企，与中科院上海药物所等国内外知名研究所持续合作。公司以中国及全球未满足的临床用药需求为导向，设计、研发具有“First-in-Class”或“Best-in-Class”潜力的原创新药，布局新一代双特异抗体生物药以及差异化小分子药物，为广大患者提供创新治疗方案。甫康药业肿瘤产品管线覆盖了乳腺癌、肺癌、胆管癌、前列腺癌、胰腺癌、胃癌等国内外急需创新治疗方案的实体肿瘤和血液肿瘤，包括已显示出“Best-in-Class”潜力的第二代PARP抑制剂CVL218，全球领先的PI3K β/δ双重高选择性抑制剂CVL237，还包括针对实体瘤的“First-in-Class”创新双特异性抗体等。甫康药业病毒产品管线包括针对多种传染性疾病进行药物研发，如新冠病毒、呼吸道合胞病毒、猴痘病毒、黄热病毒等。   ● 机构介绍 ：北京病痛挑战公益基金会（简称病痛挑战基金会，英文缩写ICF）是北京市第一家关注罕见病领域的公益基金会，致力于通过社群服务、行业支持、社会倡导，共同解决罕见病群体面临的迫切问题，为面临病痛挑战的人士，建立平等、受尊重的社会环境。本基金会缘起于“冰桶挑战”，于2016年2月29日国际罕见病日正式宣告成立。   ICF致力于支持罕见病病友的医疗康复、教育就业、社会融入等，培育积极行动的罕见病自组织，搭建多方参与的平台，打造公众链接感强的品牌项目，支持罕见病问题的制度保障，使每一个生命个体无论身患何种疾病、面临何种不便，都能获得尊重与善意，共同实现公平正义、多元共融的美好社会。   子评选-2025福布斯中国行业发展ESG标杆 2025福布斯中国行业发展ESG标杆颁奖现场   福布斯中国集团商务运营总经理郭隽祎，沙利文合伙人兼中东、南亚、北非区总裁Robin Joffe共同为2025福布斯中国行业发展行业发展ESG标杆平安健康医疗科技有限公司代表颁奖。   ● 公司介绍 ：平安健康医疗科技有限公司（股票简称：平安好医生，1833.HK），成立于2014年，是平安集团医疗养老生态圈的旗舰。公司于2018年5月4日在港交所挂牌上市，2020年7月获准纳入恒生科技指数。   凭借丰富的保险及金融客户端、企业端等医疗健康服务的支付方资源、广泛的服务供应商网络、完善的服务标准体系、强大的平安生态资源等核心竞争优势，平安健康深化落地管理式医疗战略，深耕“家庭医生”、“养老管家”两大核心枢纽建设，已成为专业、全面、高品质、一站式的医疗健康养老管理服务提供商。   子评选-2025福布斯中国行业发展创新品牌 2025福布斯中国行业发展创新品牌颁奖现场   福布斯中国集团商务运营总经理郭隽祎，沙利文合伙人兼中东、南亚、北非区总裁Robin Joffe共同为2025福布斯中国行业发展创新品牌科源制药代表颁奖。   ● 公司介绍 ：山东科源制药股份有限公司（301281.SZ）是国家高新技术企业、力诺集团健康产业核心成员企业、山东省化学合成药物骨干企业，致力于化学原料药产品研发、生产与销售以及国际高端CMO/CDMO业务的开发，与国际多家知名企业建立了战略合作伙伴关系。公司目前已经获得国内GMP证书、欧盟CEP证书，通过了美国FDA、加拿大、日本、韩国等国际官方认证。主要产品有盐酸二甲双胍、格列齐特、单硝酸异山梨酯、硝酸异山梨酯、盐酸罗哌卡因、乳糖酸克拉霉素、兰索拉唑、甲钴胺等，逐渐形成了降糖类、心血管类、麻醉剂类、抗肿瘤类、精神类等五大类药物并举的产品格局，为公司未来发展注入新的活力。公司拥有较为完善的生产、研发体系。生产厂区位于济南市商河县开发区，占地200余亩。公司研发拥有省级认定企业技术中心、市级博士后创新实践基地，拥有一支专业型、国际化的研发团队。 “致力于成为优秀的化药制造商”，科源制药始终秉承力诺集团“产业报国，追求卓越”的企业使命，在保持公司传统产品稳定增长的同时，大力发展CMO/CDMO业务，着力推进特色原料的产业布局，将科源制药打造成为国内一流、国际有影响力的公司，为人类健康事业做出更大贡献。   盛典精彩回顾 2025福布斯中国行业发展领创者评选荣耀盛典在沪隆重举行

In recent years, the boundaries between industry leaders and innovators have become increasingly blurred. These companies, leveraging their resource and market share advantages, as well as close collaboration with many startups or development teams, are gradually becoming important platforms for the commercialization of new technologies and business models. At the same time, relying on cutting-edge technologies such as artificial intelligence and big data, as well as innovative business concepts, more and more industry giants are unleashing unprecedented innovation vitality and stronger industry resource integration capabilities, enabling them to lead industry iterations and upgrades more efficiently. As a result, the concept and practice of industry development leaders are gradually emerging and will play an increasingly important role in leading the future industrial pattern transformation in China and even globally. With this understanding as a premise, at the end of November 2024, Frost & Sullivan (Frost & Sullivan, abbreviated as 'Frost & Sullivan') and Forbes China jointly launched the '2025 Forbes China Industry Development Leaders Selection'. The selection focuses on key areas such as AI technology, mass consumption, biomedicine, new energy, finance, internet services, etc. Leveraging the top resources and professional teams of both parties in industry research and media dissemination, through rigorous data analysis and in-depth market research, it aims to identify and commend outstanding enterprises and individuals with broad influence and innovative spirit in China and even globally. Adhering to the principles of fairness, justice, and openness, on March 21, 2025, the evaluation committee meeting of the '2025 Forbes China Industry Development Leaders Selection' kicked off at the J Hotel in the Shanghai center. Thus, the months-long evaluation work of the '2025 Forbes China Industry Development Leaders Selection' has been successfully completed. The following are the final selected enterprises and individuals for the '2025 Forbes China Industry Development Leaders Selection':