2025 China Cuisine & Ingredients Annual Conference On the afternoon of December 2nd, the "2025 China Ingredients Market Annual Conference" grandly opened in Nanjing. With the theme of "Advancing towards New Quality," this conference aims to help ingredient manufacturers better anticipate the trend of new productive forces, understand the essence of new productive forces, seize opportunities for new productive forces, inject new vitality into the development of the ingredients industry, and sound the clarion call for the ingredients industry's advancement towards new quality.   Lou Lei, Executive Director of Frost & Sullivan Greater China, was invited to attend the event. From an industry perspective, he shared his predictions about growth and new trends and released the report 'Insights into New Consumption Trends in the 2025 Catering Industry' on-site.   Lou Lei stated that in recent years, under the intensified competition in the catering industry, leading enterprises have begun to gradually slow down their store expansion pace, attempting to find a balance between development speed and the pursuit of quality. Developing multiple brands, following a cost-performance ratio strategy, going global, and building a refined supply chain have become industry trends. Lou Lei, Executive Director of Frost & Sullivan Greater China   Lou Lei pointed out that the current macroeconomy still faces challenges, including a decline in birth rates, an upward trend in population aging, and a slowdown in both GDP growth and per capita disposable income. These pose high demands and growth pressures on the overall consumer market, including catering.   He believes that, from the perspective of the overall economic development stage, there are certain similarities between China and Japan in the fourth consumption era they experienced in the 1990s. Based on Japan's previous experience, consumption mainly exhibited three distinct characteristics: 1) simplicity, 2) pragmatism, and 3) localization.   This also provides certain reference significance for the future development of domestic consumption and catering industries. Firstly, for most enterprises, it is necessary to ensure consistency in their prices and quality, rather than relying solely on marketing to neglect the refinement of their own products.   On the other hand, it is expected that in the future, more and more local specialty products, routes, and niche markets will emerge. Brands and merchants also need to pay attention to conducting research and development in this area and refining their internal capabilities. Sometimes localized products may not achieve explosive growth in the short term, and long-termism must be upheld.   In the current macroeconomic context, consumers have shown completely different characteristics and changes compared to a few years ago. Consumption concepts are gradually developing towards a more rational consumption trend, with increased sensitivity to prices. Frost & Sullivan has noted that consumers have seen the following five major trends in recent years: 1. More rational consumption 2. Consumption is gradually stratifying 3. Online consumption continues to increase 4. Egoism is prevalent 5. The importance of healthy consumption is on the rise   Finally, Lou Lei stated that looking ahead, in order to adapt to changes in the macroeconomy and consumer demand, the Chinese catering industry will exhibit the following four main development trends:   1. Accelerated franchising model: An increasing number of leading brands are transitioning from the direct-operated heavy-asset model to the franchising model. The Chinese catering industry currently has a relatively complete infrastructure, including supply chains and digital systems, which are conducive to the development of the franchising model;   II. Continuous optimization of the supply chain: Affected by the downward pressure on consumption, companies are being forced to reduce costs and increase efficiency while finding ways to boost profits. The optimization of the supply chain is an inevitable path for leading enterprises, which includes both cost optimization and improvement in supply chain efficiency and quality.   III. Overseas Expansion and Internationalization: From the experience of markets in developed countries such as Europe, America, and Japan, overseas expansion and internationalization are a major exploration direction for leading enterprises, especially for those that have completed nationalization layouts. Leveraging strong supply chain and brand advantages, competing overseas can help enterprises quickly build a second growth curve;   IV. Building Multiple Brands: The exploration of multiple brands is difficult, but it is also something that enterprises must do, because a single brand always implies greater risks. When market conditions change, having multiple brands helps enterprises build stronger resilience and is also an effective measure to share risks.   Recommended Reading Recent Cases of Market Positioning Confirmation in the Catering and Retail, Food and Beverage Sectors Scientific research and development, pure formula, lactase ensures healthy growth of babies The hot pot market remains hot and continuously boiling, driven by factors such as the holiday economy and overseas expansion, which continue to fuel the sustained development of Chinese hot pot brands. Raw materials are continuously upgraded and innovated, and spicy snack foods are accelerating their development pace. New Trends in the Chinese Fried Chicken Industry: The Perfect Integration of Traditional Flavors and Innovative Techniques Frog Hotpot: Ignite a taste feast and lead a new trend in dining Frost & Sullivan was invited to attend the 2024 Chinese Herbal Light-Tasting Beverage Development Forum and the Launch Conference of the Keryang Red Bean Coix Seed Water Innovation Leadership Program Traditional Essence, Century-Long Heritage: Savoring the Beauty of Zongzi during the Dragon Boat Festival Under the iteration of concepts, the probiotic track continues to forge ahead with great momentum The Hunan cuisine market is booming, with branding and chain operations continuing to lead the future Safe and delicious, satisfying the public's taste buds, hot pot butter empowers quality upgrades for catering businesses Driven by the increasing demand for healthy and diverse diets and the leadership of leading enterprises, China's small poultry market has entered a new era of development. China's wonton dumpling industry: Empowered by healthy nutrition, innovating to lead the future Seize the opportunity and make efforts. Grassland yogurt leads a new trend in healthy consumption Bai “slide” releases continuously: shrimp slides innovate, unlocking diverse consumer needs China's lotus root food industry: Expanding into B2B and B2C markets, welcoming a new high-profit blue ocean New snack categories are accelerating their layout, and the trend towards healthier snacks may become mainstream. Driven by both scale and branding, it leads the vigorous development of China's Fatty Beef Roll industry. Channels are king, and the Chinese tea industry has entered an era of branding Global Selection, creating a high-end quality life for children's milk The national trend is on the rise, and a healthy economy is driving the continuous development of China's juice and soda industry. With innovative flavors, the black truffle milk chocolate mooncake has taken off like a golden sprinter Consumption trends are changing, and chain retail stores are ushering in a golden age for fruit consumption   Food and Beverage Industry Advisory Case Frost & Sullivan assisted Rongye Food in successfully going public on the NASDAQ (NASDAQ: WYHG) Frost & Sullivan assisted Tekhail International in successfully going public on the NASDAQ (NASDAQ:HDL) Frost & Sullivan helps TeaBallood successfully go public in Hong Kong (2555.HK) Frost & Sullivan assists Lancang Ancient Tea in successfully listing on the Hong Kong Stock Exchange (6911.HK) Frost & Sullivan assists Sichuan Dekang Agriculture and Animal Husbandry in successfully going public on the Hong Kong Stock Exchange (2419.HK) Frost & Sullivan helps Kuaquan successfully go public in Hong Kong (2517.HK) Frost & Sullivan assisted Davis Commodities in successfully going public in the US (NASDAQ: DTCK) Frost & Sullivan assists Zhenjiao Lidu in successfully listing on the Hong Kong Stock Exchange (6979.HK) Frost & Sullivan assists Dazheng Co., Ltd. in successfully listing on the Hong Kong Stock Exchange (1405.HK) Frost & Sullivan assists Shenzhen Baihuagarden in successfully listing on the Hong Kong Stock Exchange (2411.HK) Frost & Sullivan assists Zhengwei Group in successfully listing on the Hong Kong Stock Exchange (2147.HK) Frost & Sullivan assisted Weilong in successfully listing on the Hong Kong Stock Exchange (9985.HK) Frost & Sullivan assists Shuangcaizhuang in successfully listing on the Hong Kong Stock Exchange (2321.HK) Frost & Sullivan assists Youran Muye in successfully listing on the Hong Kong Stock Exchange (9858.HK) Frost & Sullivan helps Joyou Wang successfully go public in Hong Kong (1927.HK) Frost & Sullivan assisted BSH China in successfully listing on the Hong Kong Stock Exchange (9987.HK) Frost & Sullivan assists Nongfu Spring in successfully listing on the Hong Kong Stock Exchange (9633.HK) Frost & Sullivan assists Fengxiang Food in successfully listing on the Hong Kong Stock Exchange (9977.HK) Frost & Sullivan assists Simore in successfully listing on the Hong Kong Stock Exchange (6969.HK) Frost & Sullivan helps China's Feihai succeed in going public on the Hong Kong Stock Exchange (6186.HK) Frost & Sullivan assists China National Tobacco International in successfully listing on the Hong Kong Stock Exchange (6055.HK) Frost & Sullivan helps Youpin 360 successfully go public in Hong Kong (2360.HK) Frost & Sullivan assists Wugulmofang in successfully listing on the Hong Kong Stock Exchange (1837.HK) Frost & Sullivan helps Baby Tree successfully go public in Hong Kong (1761.HK) Frost & Sullivan helps Haidilao successfully go public in Hong Kong (6862.HK) Frost & Sullivan helps sustainable agriculture successfully list on the Hong Kong Stock Exchange (8609.HK) Frost & Sullivan assisted Longhui Holdings in successfully listing on the Hong Kong Stock Exchange (1007.HK) Frost & Sullivan assists Xinrong International in successfully listing on the Hong Kong Stock Exchange (1587.HK) Frost & Sullivan assists Yiyuan Liquor Group in successfully listing on the Hong Kong Stock Exchange (8146.HK) Frost & Sullivan helps Jierong International successfully go public in Hong Kong (2119.HK) Frost & Sullivan assisted BNP Paribas International in successfully listing on the Hong Kong Stock Exchange (1705.HK) Frost & Sullivan helps Nippon Sake & Foods Co., Ltd. successfully go public in Hong Kong (1475.HK) Frost & Sullivan assists Asian grocery giant in successful listing on the Hong Kong Stock Exchange (8413.HK) Frost & Sullivan assists Chow Hark Kong Foods Limited (1458.HK) in successfully listing on the Hong Kong Stock Exchange Frost & Sullivan assists COFCO Meat Group in successfully listing on the Hong Kong Stock Exchange (1610.HK) Frost & Sullivan assists Yihai International in successfully listing on the Hong Kong Stock Exchange (1579.HK) Frost & Sullivan assists Zhongdi Dairy in successfully listing on the Hong Kong Stock Exchange (1492.HK) Frost & Sullivan assisted Dah Li Foods in successfully listing on the Hong Kong Stock Exchange (3799.HK) Frost & Sullivan assists Manor Ranch in successfully listing on the Hong Kong Stock Exchange (1533.HK) Frost & Sullivan assisted Vientiane International in successfully listing on the Hong Kong Stock Exchange (0288.HK) *The above order is not sequential and is arranged in reverse chronological order based on listing time.

Innovation not only constitutes the core grammar of progress in current industries but has also greatly transformed the world's landscape, setting the narrative for development and competition in this century.   Especially as the global industrial pattern and business environment enter a period of adjustment, opportunities and challenges are transforming into each other amidst uncertainty, advantages and disadvantages are accelerating their rotation, and the value and necessity of innovation are further highlighted. This also builds an excellent stage for a group of trailblazers who lead industries to innovate boldly and transcend cycles with an innovative spirit and methods.   On November 25, 2024, the globally renowned growth consulting firm Frost & Sullivan (Frost & Sullivan, abbreviated as 'Frost & Sullivan') and Forbes China Group (Forbes China Group) held a strategic cooperation signing ceremony at the Forbes China Group Building in Shanghai and jointly launched the 'Forbes China Industry Development Trailblazer Selection 2025'.   This selection focuses on key areas such as new energy, AI technology, mass consumption, biomedicine, finance, and internet services. Through rigorous data analysis and in-depth market research, it aims to uncover and recognize outstanding individuals with wide influence and innovative spirit both domestically and globally.   Details of the selection are as follows:   Application criteria   ● The industry to which the applicant belongs should be within key areas such as new energy, AI technology, mass consumption, biomedicine, finance, and internet services;   ● The applicant should be an industry pioneer with a good reputation and high visibility, including but not limited to business founders, corporate executives, experts, scholars, etc.;   ● The applicant's career achievements must meet one of the following three conditions:   The market value/valuation of the applicant's company is at the level of 3 billion RMB or above, and it must have been operating stably for more than three years; The applicant has been recognized by top international or domestic scientific research institutions and has made outstanding contributions to leading industry innovation; The applicant has led the company to achieve first place in market share in the industry and has the sustained growth ability to maintain its industry position (*an industry research report issued by an authoritative institution and an industry position ranking table must be submitted)   Selection method   ● Enterprise/individual self-registration ● Recommendation by institutions and experts ● Exclusive Forbes China research   Selection dimensions   ● >Growth trajectory ● >Industry climbing ● >Economic benefits ● >New value creation ● >Future blueprint   For application and consultation, please scan the QR code below or click 'Read the original article'   Consultation email: selection@forbeschina.com

What problems can traditional energy companies solve by building data centers? How can they assist in the green and low-carbon transformation and development of energy? How can traditional energy companies achieve a deep integration of industrial collaborative scheduling and digital transformation?   Jia Pang, Partner and Managing Director of Frost & Sullivan's Greater China Region, was interviewed by Securities Daily to discuss how traditional energy companies' construction of data centers can assist in the green and low-carbon transformation and development of energy.   Q: What problems can traditional energy companies solve by building data centers? How can they assist in the green and low-carbon transformation and development of energy? Jia Pang Partner and Managing Director of Frost & Sullivan's Greater China Region By building data centers, traditional energy companies can achieve centralized management and storage of data, thereby improving the quality and value of data. The construction of data centers can help companies form a unified digital governance system, ensuring data governance, achieving data sharing, and innovating data applications. This helps to establish a unified data management platform that makes data traceable and supports the digital transformation of enterprises. At the same time, the construction of data centers also provides strong support and foundation for the transformation and upgrading of artificial intelligence and big data.   In addition, with the construction of data centers and the improvement of digital capabilities, it helps to reduce energy consumption and emission intensity, enhance the efficiency of all factors of production, and thus assist in the green and low-carbon transformation and development of energy. Through technological transformation and production process improvement, traditional industries can achieve more efficient production capabilities and promote the green and low-carbon transformation of industrial structures.   Q: How can traditional energy companies achieve a deep integration of industrial collaborative scheduling and digital transformation? Jia Pang Partner and Managing Director of Frost & Sullivan's Greater China Region Firstly, traditional energy companies should strengthen top-level design, improve data standards and management systems for the company and industrial chain, ensuring the systematicness and sustainability of digital transformation. Secondly, establish a unified data management platform to centrally store and precipitate data from various business departments and links for analysis and sharing. Utilize IoT and other technical means to achieve real-time monitoring of equipment and production processes and obtain real-time data. At the same time, use artificial intelligence and big data analysis tools to conduct in-depth analysis of collected data, perform predictive analysis and optimized scheduling, enhance the intelligence level of decision-making, improve production and scheduling efficiency, optimize resource allocation and scheduling. Moreover, build a fully industrial collaborative scheduling platform to promote the circulation and use of data resources as a new type of production factor, break down information barriers between different entities, drive interconnection, interaction, and complementarity among various links of the energy network, and improve the coordinated operation efficiency of upstream and downstream of the industrial chain and between industries. Through these measures, energy companies can achieve a deep integration of industrial collaborative scheduling and digital transformation, thereby enhancing the competitiveness and operational efficiency of enterprises. *This interview has been published in Securities Daily, authored by Ma Yuwei, with the original title: Power Investment Energy Plans to Invest 127 Million Yuan to Build a Fully Industrial Collaborative Scheduling Command Platform.

Pengfei Xpeng's flying car brand, Pegasus, achieved its first public flight as a 'land-based aircraft carrier' at the 15th China International Aerospace Expo and received new orders for 2,008 flying cars at this exhibition. This is the largest order volume in the global flying car sector to date, with customers coming from transportation, tourism, real estate, technology, and other fields. What is the significance of Pegasus receiving a large number of orders and in which scenarios are flying cars expected to be used in the future?   Mr. Liu Xufeng, Senior Consulting Advisor for Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), was interviewed by China Daily Network to discuss the commercialization of flying cars and their multi-field application prospects.   Q: At the 15th China Aerospace Expo, Pegasus successfully held a batch reservation signing ceremony for its 'land-based aircraft carrier' flying cars. The total new orders signed this time amount to 2,008 units, which is the largest order volume in the global flying car sector to date. Customers coming from transportation, tourism, real estate, technology, and other fields signed contracts. What is the significance of Pegasus receiving a large number of orders and in which scenarios are flying cars expected to be used in the future? Mr. Liu Xufeng Senior Consulting Advisor for Greater China at Frost & Sullivan This order has promoted the commercialization process of flying cars, attracted capital attention, and provided strong support for the low-altitude travel ecosystem. In the tourism sector, flying cars bring new experiences of high-altitude sightseeing; in real estate projects, they provide air transfers for high-end customers; in emergency rescue, they respond quickly to complex terrains; and in time-sensitive logistics, they meet the needs for rapid distribution. This large-scale order not only demonstrates Pegasus's technical strength but also lays the foundation for the multi-field application of flying cars. *This interview has been published in China Daily with reporter ZHU WENQIAN, and the original title was: 'China first to produce over 10m NEVs in a year'

On November 28, 2024, during the 31st China International Advertising Festival, the China Advertising Association announced the official launch of the preparatory work for the New Consumer Brands Working Committee of the China Advertising Association, with Frost & Sullivan (Beijing) Consulting Co., Ltd., a council member of the China Advertising Association (hereinafter referred to as 'Frost & Sullivan'), serving as the leader of the preparatory group.   The preparatory launch ceremony of the organizing committee was grandly held at the Digital and Intelligent Ecosystem Development Conference. Representatives of core members of the preparatory group of the New Consumer Brands Working Committee of the China Advertising Association, including Huo Yan, Deputy Secretary-General of the China Advertising Association, Dr. Wang Xin, Global Partner of Frost & Sullivan and Chairman of the Greater China Region, Du Changcheng, Director General of the Capital Planning and Development Center of Yuyuan Co., Ltd., Lin Yanluan, Deputy General Manager of Shenzhen Datouren Industrial Co., Ltd., Wu Changsheng, CEO of Bomi Unicorn, Li Wenliang, Founder and CEO of the Zhihangyi Consulting Service Group, Jiang Jianjian, General Manager of the Fujian Region of Xiyouji, etc., jointly attended and witnessed the preparatory launch ceremony.   The New Consumer Brands Working Committee of the China Advertising Association aims to help new consumer brands adapt to market demands of the new era by integrating industry resources, deepening exchanges and cooperation. Focusing on the development needs of new consumer brands, the committee plans to carry out the following activities: releasing industry trend reports, hosting themed summits and salons, organizing industry competitions, establishing research centers, and building service platforms. It is committed to building comprehensive service platforms for relevant enterprises in the new consumer industry chain, providing data, technology, talent, concepts, and other aspects of service support, injecting new vitality and momentum into their robust growth and innovative development. Dr. Wang Xin stated: 'With the advent of the new consumption era, consumers' needs are becoming increasingly diverse and personalized. It is believed that the New Consumption Brands Working Committee of the China Advertising Association will not only provide a comprehensive service platform for new consumption brands to fully display and engage in professional exchanges, but we will also promote the innovative development and sustainable growth of the industry through a series of practical actions. We sincerely invite colleagues from industry, academia, research, investment, and media to actively participate. Please offer your suggestions and collective efforts to jointly promote the healthy and prosperous development of new consumption brands in China!' The Digital Intelligence Ecosystem Development Conference, themed 'Digital Intelligence Connectivity, Innovation and Growth', focused on multiple areas including AI, going global, gaming esports, and ESG. By bringing together the top wisdom of the industry, it explored how digital intelligence technology can reshape the ecosystem pattern and lead the industry to higher levels of development. At the conference, Du Changcheng, Managing Director of the Capital Planning and Development Center of Yu Garden Co., Ltd., Lin Yanluan, Deputy General Manager of Shenzhen Datouren Industrial Co., Ltd., and Li Wenliang, Founder and CEO of Zhihangyi Consulting Services Group, discussed hot topics such as corporate ESG practices, the path to going global, technological empowerment and innovation breakthroughs, and new trends in digital marketing. The roundtable was moderated by Zhang Yuchen, Corporate Communication Director for Frost & Sullivan Greater China. The guests had an in-depth exchange and discussion on the practical experience of diversified construction of a digital intelligence ecosystem by new consumer brands, and jointly looked ahead to the future trends of industrial and technological integration.

Recently, there have been continuous news about domestic innovative drugs going global: Merck & Co. has obtained the global exclusive license for its PD-1/VEGF bispecific antibody LM-299 for a upfront payment of $588 million; BioNTech has acquired 100% of the issued capital of Puma Biotech with an upfront payment of $800 million; Vaxil Bio has announced the establishment of a new drug research and development company with AditumBio, implementing product internationalization through the NewCo (establishing a new company) model. Why does "innovation" and "going global" have such a significant impact on the performance of the pharmaceutical and biotech industries? What are the current achievements of pharmaceutical companies going global, and which sub-sectors have seen particularly noticeable results? Is this trend strengthening? Facing new paths, what challenges and risks may the NewCo model face, and how should companies respond?   Xu Chao, consulting manager of the Life Sciences Business Unit at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan') Greater China region, was interviewed by 'Securities Daily' to discuss the application and prospects of the NewCo model in the internationalization of innovative pharmaceutical companies.   Q: Recently, Weilizhi Bio announced the establishment of a new drug R&D company with venture capital firm Aditum. The former has become the fifth domestic pharmaceutical company this year to achieve product internationalization under the NewCo model. In May this year, Hengrui Medicine used the NewCo model to successfully launch its GLP-1 innovative drug products overseas, 'igniting' this new strategy for going global. Compared to License-out, what are the advantages of the NewCo model? Under this model, how have the subsequent rights of domestic innovative pharmaceutical companies in product research and development, commercialization, etc., changed? Xu Chao Consulting Manager, Life Sciences Business Unit, Frost & Sullivan Greater China Region By licensing their products through the NewCo model, innovative pharmaceutical companies can obtain opportunities for capital recovery and risk diversification. At the same time, compared to transferring products to large multinational pharmaceutical companies, under the NewCo model, products are prioritized as core assets, attracting more high-quality development resources to focus on them, thereby maximizing product value. Compared to the License-out model where all overseas rights of a drug are transferred to the partner, under the NewCo model, innovative pharmaceutical companies can not only receive immediate upfront payments and milestone payments but also gain partial equity of the NewCo company. On one hand, innovative pharmaceutical companies can share in the profits from equity appreciation. On the other hand, by retaining a portion of equity, they also have certain say and participation rights, including the ability to participate in the decision-making process of the NewCo company during operations and subsequent drug development, locking in more long-term benefits and ensuring that they still hold a considerable proportion of overseas rights after the product enters the commercialization stage.   Q: Since the beginning of this year, there have been emerging NewCo cases in China such as Hengrui Medicine, Canola Biotechnology, and Jiahe Biotech. What are the key factors contributing to the rising popularity of the NewCo model? What is the future development trend? Xu Chao Consulting Manager, Life Sciences Business Unit, Frost & Sullivan Greater China Region The popularity of the NewCo model has been on the rise. The level of innovation is the fulcrum for Chinese products to successfully go global. More and more Chinese innovative pharmaceutical companies are beginning to possess R&D capabilities and product pipelines that align with international standards. By leveraging innovative products recognized by overseas markets, they are deeply integrating into the capital operations of the global biopharmaceutical industry. At the same time, capital is also a key factor driving drug R&D and commercialization. As the domestic innovative pharmaceutical industry gradually moves into the 'deep water zone', the NewCo model has the attribute of 'financing'. By introducing overseas capital, companies obtain new sources of funding, which helps alleviate their financial pressure and also provides valuable experience and resources in terms of capital operations and overseas market expansion.   In the future, with the acceleration of internationalization efforts by domestic innovative pharmaceutical companies and the growing interest of overseas capital in the Chinese innovative pharmaceutical market, more and more practice cases of the NewCo model will emerge, and the scale of transaction amounts is expected to continue growing. In addition, the cooperation forms of the NewCo model may become more diversified, with various forms of cooperation reaching agreements with overseas capital, multinational pharmaceutical companies, biotechnology firms, etc.   Q: The NewCo model can introduce diversified investors and partners, offering high flexibility and independence. It provides a new internationalization path for domestic innovative pharmaceutical companies. In the face of this new path, what challenges and risks might the NewCo model face? How should companies respond? Xu Chao Consulting Manager, Life Sciences Business Unit, Frost & Sullivan Greater China Region Although the NewCo model has precedents in overseas applications, it is still an innovative exploration by pharmaceutical companies going global in China. The future implementation needs to be verified by results over time. Generally speaking, I believe the risk in project-driven models lies in the fact that the success of the NewCo model often highly depends on the progress of a single project. If the R&D progress is not smooth or the clinical trial results are not ideal, it may lead to a break in the capital chain and operational difficulties for the company. At the same time, the NewCo model also places high demands on team capabilities, including specialized skills, foresight, and an international perspective, which may affect the slow progress or failure of projects. For companies, they should establish a complete project management system and risk control mechanism, closely monitor the competitive situation in the international innovative drug market, as well as the dynamic changes in laws, regulations, and regulatory requirements. *This interview has been published in Securities Daily Reporters: Zhang Min and Xu Linyan. Original title: 'Two Distinctive Developments in the Third-quarter Pharmaceutical Reports: Strong Profit Growth in Segmented Markets, and Companies Continuing to Deepen Overseas Layouts'

Innovation not only constitutes the core grammar of progress in current industries but has also greatly transformed the world's landscape, setting the narrative for development and competition in this century.   Especially as the global industrial pattern and business environment enter a period of adjustment, opportunities and challenges transform into each other amidst uncertainty, advantages and disadvantages are accelerating their rotation, and the value and necessity of innovation are further highlighted. This also builds an excellent stage for a group of pioneers who lead industries through innovation spirit and methods, boldly innovating and transcending cycles.   On November 25, 2024, the globally renowned growth consulting firm Frost & Sullivan (Frost & Sullivan, abbreviated as 'Frost & Sullivan') and Forbes China Group (Forbes China Group) held a strategic cooperation signing ceremony at the Forbes China Group Building in Shanghai, and jointly launched the 'Forbes China Industry Development Pioneer Selection 2025'.   This selection focuses on key areas such as new energy, AI technology, mass consumption, biomedicine, finance, and internet services. Through rigorous data analysis and in-depth market research, it aims to uncover and recognize outstanding individuals with broad influence and innovative spirit both domestically and globally.   Details of the selection are as follows:   Application criteria   ● The industry to which the applicant belongs should be within key areas such as new energy, AI technology, mass consumption, biomedicine, finance, and internet services;   ● The applicant should be an industry pioneer with a good reputation and high profile in various industries, including but not limited to business founders, executives, experts, scholars, etc.   ● The applicant's career achievements must meet one of the following three conditions:   The market value/valuation of the applicant's company is at the level of 3 billion RMB or above, and it has been operating continuously and stably for more than three years; The applicant has been recognized by top international or domestic scientific research institutions and has made outstanding contributions to leading industry innovation; The applicant has led the company to achieve first place in industry market share and has the ability to sustain its industry position (*an industry research report and industry position ranking table issued by an authoritative institution must be submitted)   Selection method   ● Self-registration by companies/individuals ● Recommendation by institutions and experts ● Exclusive research by Forbes China   Selection dimensions   ● Growth trajectory ● Industry climbing ● Economic benefits ● New value creation ● Future blueprint   To apply for the selection, please scan the QR code below or click 'Read the Original Article' Consultation email: selection@forbeschina.com

On November 25, 2024, the globally renowned growth consulting firm Frost & Sullivan (Frost & Sullivan, abbreviated as 'Frost & Sullivan') and Forbes China Group announced the official establishment of a strategic partnership in Shanghai. Starting from November 26th, both parties will jointly launch the 'Forbes China Industry Development Leaders of the Year 2025' selection project. The aim of this selection is to identify and honor industry development leaders with broad influence and innovative spirit in China and globally through rigorous data analysis and in-depth market research.   Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan Greater China, and Zhang Zhichen, Chairman of Forbes China Group, attended the signing ceremony for the strategic cooperation between Frost & Sullivan and Forbes China Group, as well as the launch event for the selection of '2025 Forbes China Industry Development Leaders'. Wang Chenhui, Managing Partner and President of Frost & Sullivan Greater China, and Guo Junyi, General Manager of Business Operations for Forbes China Group, signed on behalf of both parties respectively. Both Frost & Sullivan and Forbes China Group possess a global perspective and have long been deeply involved in the Chinese market. Frost & Sullivan has over 60 years of rich experience in industry research, relying on senior analysts and expert consultants from nearly 50 countries around the world to build a comprehensive knowledge system and research network. The Frost & Sullivan Greater China region has accumulated more than 10,000 original industry research reports and white papers, spanning 19 core national economic industries and more than 6,000 sub-markets, with a strong knowledge reserve. Frost & Sullivan's research data is widely recognized in global capital markets. Forbes, a global media brand with a century-long history, is committed to discovering emerging leaders, exploring historical critical moments through the perspectives of entrepreneurship and innovation, and inspiring doers around the world to maximize their potential. Forbes has a top-tier reader base of millions and has unique insights into businesses and entrepreneurial spirit. The strong alliance between Frost & Sullivan and Forbes China Group brings together the top resources and professional teams in both industry research and media dissemination, providing strong support and assurance for this selection, and creating a benchmark with great authority and influence in the industry's personality category selections. Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan Greater China Region It is stated that Frost & Sullivan enjoys a high reputation in global capital markets for its in-depth industry insights, rigorous data analysis, and professional consulting services. This collaboration with Forbes China will provide us with a more diverse range of research perspectives, helping us observe the trajectory of business growth and record the changes in the industry through every vivid 'person'. In the future, it will also become an important part of Frost & Sullivan's 'Full-Service Investment Management' ecosystem. With the joint efforts of both parties, we will not only enable the world to see more outstanding leaders in the development of Chinese industries, but also further unleash the long-term influence and possibilities of best practices in growth, innovation, and leadership by innovatively combining successful corporate cases with entrepreneurs' growth stories. Frost & Sullivan is optimistic about China and the future, especially about the development of Chinese enterprises. I believe that the exemplary power of industry leaders will surely drive the overall progress of the Chinese economy!   Zhang Zhichen, Chairman of Forbes China Group It is stated that Forbes China has been dedicated to paying attention to and analyzing China's business dynamics, showcasing the prowess of Chinese business leaders. This collaboration with Frost & Sullivan will provide us with richer industry knowledge, analysis data, and market insights, helping us better identify and recognize entrepreneurs with innovative spirit and outstanding leadership in various industries. It is hoped that through this collaboration, the influence of Forbes China within the industry will be further enhanced. In the future, both parties will fully leverage their respective resource advantages to jointly promote research and recognition of industry leaders, inject new vitality into building a sustainable development ecosystem that integrates 'industry - enterprise - entrepreneur', and explore more cooperation opportunities together, contributing professional strength to promoting economic development in China and even globally.

2024 Wuxi Xishan Autumn Investment Promotion and Cooperation Symposium   On the afternoon of November 8th, the 2024 Wuxi Xishan Golden Autumn Investment Promotion and Cooperation Symposium, themed 'Golden Autumn Appointment: Leading the Future with Tin', was held. More than 300 guests from well-known domestic and international enterprises, universities, research institutions, associations, and fund think tanks gathered to share friendships, discuss cooperation, and seek development. At the meeting, 111 projects were signed collectively, with a total investment exceeding 60 billion yuan, sounding the clarion call for Xishan's 'Year of Project Construction and Improvement'.   Wuxi Deputy Mayor Ma Liang and District Party Committee Secretary Fang Li attended and delivered speeches. Academician of the Chinese Academy of Engineering, Dean of the School of Optoelectronic Information and Computer Engineering at Shanghai Zhuang Songlin, Vice President of Yanshan University Huang Faxian, Chief Scientist of the National-Local Joint Humanoid Robot Innovation Center Dr. Jiang Lei, Party Secretary of Wuxi University Yang Jianxin, Party Secretary of the Municipal Industry and Information Technology Bureau Wu Yan, as well as relevant responsible persons from the Municipal Science and Technology Bureau, Municipal Transportation Bureau, Municipal Commerce Bureau, Wuxi Industrial Development Group Co., Ltd., and other district leaders such as Yan Guoqiang, Cheng Zhe, Xu Yue, participated in the event.   At the meeting, Frost & Sullivan (Frost & Sullivan, abbreviated as 'Frost & Sullivan') was officially recognized as one of the 'fifth batch of Global Investment Promotion Partners' in Xishan by representatives of the other five institutions as a leading global consulting firm. Wang Chenhui, Managing Partner and President of Frost & Sullivan Greater China, was invited to attend this event.   Wuxi Deputy Mayor Ma Liang and District Party Committee Secretary Fang Li attended and delivered speeches. Academician of the Chinese Academy of Engineering, Dean of the School of Optoelectronic Information and Computer Engineering at Shanghai Zhuang Songlin, Vice President of Yanshan University Huang Faxian, Chief Scientist of the National-Local Joint Humanoid Robot Innovation Center Dr. Jiang Lei, Party Secretary of Wuxi University Yang Jianxin, Party Secretary of the Municipal Industry and Information Technology Bureau Wu Yan, as well as relevant responsible persons from the Municipal Science and Technology Bureau, Municipal Transportation Bureau, Municipal Commerce Bureau, Wuxi Industrial Development Group Co., Ltd., and other district leaders such as Yan Guoqiang, Cheng Zhe, Xu Yue, participated in the event.   Malang said in his speech that Xishan, as the eastern gateway of Wuxi, is an important sector for the city to cultivate new productive forces. In recent years, it has focused on the 'Four New and Four Strong' industrial clusters and the '3+N' future industry direction, attracting a number of large enterprises, good projects, and high-level platforms. It has become a 'land of joy' and 'high ground' for entrepreneurs to invest and start businesses, scientists to innovate and start ventures, and investors to make strategic investments. It is hoped that Xishan District will take this consultation meeting as an opportunity to introduce more major industrial projects with high investment intensity, high technological content, and strong driving effects, as well as high-quality foreign-funded projects, to fully build a modern industrial powerhouse with first-class domestic standards and international influence. Fang Li extended a welcome to the leaders and guests attending the consultation meeting, expressing gratitude for their long-term care and support for the development of Xishan. He said that Xishan has once created the glory of "the First County of China" and given birth to the spirit of "440,000 reforms." Currently, an Xishan that is fully revitalized and climbing higher and higher levels is looking forward to everyone's joining. We will uphold the concept of "projects are king, enterprise first," and be more proactive in providing "menu-style" services on behalf of enterprises, creating the best conditions for everyone to invest in and deeply cultivate Xishan. It is hoped that we can form deeper friendships with everyone, carry out more cooperation, and embrace a brighter tomorrow together.   Send out a global invitation to expand Xishan's 'Partners'   At the meeting, the promotional video for Wuxi Xishan's investment promotion in 2024, 'Better with Xishan, Moving Forward Together', was officially released. It comprehensively showcases Xishan's industrial foundation, investment environment, and cultural living environment from the perspectives of better modern industrial clusters, technological innovation ecosystems, digital services, financial services, and more.     In recent years, Xishan has been accelerating the construction of a '3+8+N' global economic and trade cooperation network. Four batches of 24 professional institution think tanks have become Xishan's global investment promotion partners. At the event, six consulting companies, investment institutions, and foreign business associations including Frost & Sullivan (Frost & Sullivan, abbreviated as 'Frost & Sullivan'), the China-EU Business Council, OCO Global, GBB, Minsheng Securities, and Honghui Capital were officially awarded the title of 'Fifth Batch of Global Investment Promotion Partners' by Xishan.   The attendees of this symposium included not only several academic and research professors including Academician Zhuang Songlin, but also foreign guests from countries such as the United States, Germany, Belgium, and Japan, including Xie Jin, the global CEO and Chairman of the Board of Directors of Nuvoton Semiconductor, as well as 'new and old friends' from well-known enterprises, consulting institutions, financial institutions, and associations such as SoftBank Power, Zhiyuan Pharmaceutical, Anpris, Qianzhan Research Institute, Deloitte Haskins & Touche, First Pacific Davis, and the Hong Kong Xishan Hometown Association.   SoftPower Information Technology (Group) Co., Ltd. Chairman and Chief Operating Officer Cheung Chun-ho SoftBank Power and Xishan jointly established the SoftBank Wuxi Intelligent Computing Industrial Park. The cooperation will focus on investment and construction of the industrial park, operation, upgrading of high-end manufacturing bases, the establishment of a humanoid robot headquarters, the creation of computing power centers and industrial internet platforms, aiming to build a full-stack digital technology and digital innovation service system. We will fully promote the project's implementation and create an important intelligent computing industrial park in the Yangtze River Delta, a new quality productivity innovation base, and a benchmark for high-quality development.   Jiangsu Zhiyuan Pharmaceutical Co., Ltd. General Manager Xie Hongwei Since its establishment in Xishan in October 2014, after a decade of development, Zhiyuan Pharmaceutical has achieved an annual sales revenue from 40.5 million yuan to 1.03 billion yuan, with an annual net profit total from 6.51 million yuan to 146 million yuan. It has been recognized as a National Postdoctoral Research Station and a National Specialized, Refined, Unique & "Little Giant" enterprise. In the future, we will continue to uphold technology-driven development, attract more upstream and downstream enterprises in the industrial chain to settle in Xishan, drive the ecological construction of the medical beauty industry chain, and create a distinctive business card for Wuxi's biomedicine industry.   Vandever Asia Pte Ltd Chief Executive Officer Ola &mdot; Samulsson The Van der Meer Group was founded in Belgium in 1880 and has a history of over 140 years. It specializes in the research and development, manufacturing, and installation of various textile machinery. The attractive land, full-cycle policy guarantees, and meticulous enthusiastic service have made us trust Xishan, invest in Xishan, and take root in Xishan. We will continue to work hard, take the path of innovation, and enable more series products with greater production value to be born here and introduced into the international market.   Improve “quality" for “novels", attract talents and achieve fruitful results   The Golden Autumn Investment Promotion Month event is a distinctive brand for investment attraction in Xishan and an important window for exchanges and cooperation. Since its launch in September, our district has carried out a variety of investment promotion activities such as park introductions, industrial exchanges, and economic and trade negotiations, resulting in a large number of projects coming to fruition.   At the luncheon, 111 projects were signed in a concentrated manner, exceeding 60 billion yuan. These projects cover multiple fields such as emerging industries, future industries, major foreign investments, technological innovation, commerce and foreign trade, involving numerous tracks including integrated circuits, artificial intelligence, biomedicine, new energy, and low-altitude economy.   Three major projects, including the R & D and manufacturing project of high-performance lithium-ion batteries, the R & D and manufacturing of integrated circuit 3D process equipment, and the project of the Wuxi Institute Integrated Circuit Process Joint Innovation Center, as well as the Navitas Third Generation Semiconductor China Headquarters project, have been signed and located in Xishan. Fourteen major projects were signed, including the R & D and manufacturing project of wind power gearboxes for over 8 MW and the low-altitude economic pilot base testing and service platform project. Seven major foreign-funded projects, 12 major science and technology innovation projects, and six major commercial and platform projects were signed on-site respectively. Today's investment is tomorrow's output, and today's projects are tomorrow's development. With the implementation of these high-quality projects, they will surely inject stronger momentum into Xishan's advancement of new industrialization and development of new quality productive forces. In the next phase, Xishan District will communicate and coordinate in a timely manner, provide follow-up services, and promote early commencement, construction, and effectiveness of projects.   Attack "tipping points", climb "heights", and cultivate fertile industrial soil   Professional parks are the main frontiers of economic construction and the leading areas for innovation and entrepreneurship. In recent years, Xishan has unswervingly pursued the development path of 'industry clusters + characteristic professional parks', continuously advancing the construction of '16+3+2' characteristic professional parks, and planning and constructing a number of park carriers with complete functions at high standards. More than 1 million square meters of carriers have been built and put into use, with another 1 million square meters under construction, and plans to build more than 1 million square meters within the next three years.   At the symposium, the release ceremony for the professional carriers of Xishan's characteristic parks was held. The Wuxi Xishan Low-altitude Economy Industrial Park, Wuxi Xishan Intelligent Robot Industrial Park, and Wuxi Xishan Beauty Industry Park were inaugurated. The Wuxi Xishan Low-altitude Economy Industrial Park focuses on the research and development of complete machines for low-altitude economy products, parts manufacturing, testing services, and other fields, constructing a 'four-in-one' low-altitude economy collaborative development system integrating research and manufacturing, commercial application, achievement transformation, and service support. The Wuxi Xishan Intelligent Robot Industrial Park focuses on intelligent robots, artificial intelligence, high-end manufacturing, and other areas, aiming to create a leading core technology innovation center. The Wuxi Xishan Beauty Industrial Park focuses on two major categories: skin care products and efficacy beauty products, striving to build a 'one body with two wings - multi-point collaboration - four medical linkages' full industrial chain development pattern.   Forward-looking layout, the future is already here. Currently, Xishan is closely focusing on the requirements of "six ones," with a strong momentum in building a modern industrial cluster of "four new and four strong" industries and the "3+N" future industry development strategy. This year, the Wuxi Xishan Synthetic Biology Industrial Park and the Wuxi Xishan Humanoid Robot Industrial Park have also been opened successively. Leveraging the aggregation, professionalism, and effectiveness of each park's carriers, Xishan will strive to build an even better industrial ecosystem, allowing more innovative seeds to grow vigorously.   Discuss cooperation, plan for development together, and jointly embark on a wonderful future of 'mutual pursuit and mutual achievement'. By building solid bridges for external exchanges, investment promotion, and talent recruitment, Xishan can surely become the best 'urban partner' for everyone's innovation and entrepreneurship.