2024 China Business Franchise Summit Currently, rational consumption and the pursuit of quality-price ratio have become the new consumer trend leading society. Chain brands with a complete supply chain, mature business models, and highly standardized operational management systems can gain bargaining power from upstream suppliers. At the same time, they also bring consumers a satisfactory consumption experience with high cost-effectiveness. With the support of the socio-economic environment and the orderly iterative development of the market, the degree of domestic chain operation will rise accordingly, further increasing the chain rate and bringing more development opportunities. In this era of stock competition, whether it is the iteration of traditional models or the innovation of new business models, many excellent cases worthy of reference have emerged, providing directional guidance for brand development under the new economic situation. Recently, with the theme of "Breaking Boundaries and Creating New Possibilities", a duration 3 day 2024 The China Business Franchise Summit was successfully held. The conference was jointly organized by the Shanghai Chain Operation Association, Shanghai Bohua International Exhibition Co., Ltd., and Shanghai Yibixun Exhibition Co., Ltd. With a comprehensive, diversified, and international perspective, it gathered authoritative guests from leading and emerging brands, commercial real estate, suppliers and service providers, industry media, capital institutions, and more. Leading brands such as Laolongjing, Zhengxin Chicken Bar, Nuova Coffee, and Ningji made their appearances one after another to discuss the current industry situation and explore the development trends of franchising.   Frost & Sullivan Frost & Sullivan Jia Pang, Partner and Managing Director of Frost & Sullivan Greater China, was invited to attend the main forum of the conference and participate in a session on “Chain Ecosystem Co-Symbiosis" themed roundtable discussion, with Qiao Bin, Vice President of Shanghai Chain Operation Association and Chief Architect of Shanghai Hezhi Consulting & Planning Company, Guo Ji, Founder of Zhongshen Law Firm, Shen Zhonghai, Vice President of Falsailong, Li Huomiao, Founder of Chihuo Management Consulting, and Xinladao CEO Together, Shi Qi and the team discussed the Chinese catering chain ecosystem, exploring new trends and developments in the franchise industry. Partner and Managing Director of Frost & Sullivan Greater China Region Jia Pang The following is a summary of Jia Pang's views: As an investment strategy consulting firm, how does it view the development of the chain industry post-pandemic?     According to Jia Pang, the scale of China's catering market has reached a record high after the epidemic. China is the world's second-largest catering market, only after the United States, and its catering industry holds a pivotal position globally. This not only reflects the strong vitality of China's economy but also demonstrates the importance of the catering industry within the national economic system. In the past decade, China's catering industry has undergone qualitative changes in market scale and consumption patterns. The scale of China's catering market has shifted from 2014 year 2.9 Trillion growth to 2019 year 4.7 Trillion, with an annual compound growth rate of 10% . 2020 Affected by the pandemic in 2020, the scale of the Chinese catering market declined to 3.9 Trillions, and the catering market has fluctuated upwards during the subsequent two years of the pandemic. 2023 The year is the beginning after the pandemic, and China's catering industry has seen a historic breakthrough, entering 5 A new development stage worth trillions, national catering revenue 52890 Yuan billion, up year-on-year 20% . 2023 In [year], with the orderly resumption of production and life, consumer promotion policies continued to be effective. Combined with the comprehensive recovery of industries such as culture and tourism, performances, etc., it promoted the rapid recovery of the catering industry, reflecting the characteristics of strong resilience, great potential, and vitality of the catering economy. Secondly, expanding store scale and increasing the catering chain rate remain the main themes of the catering industry after the pandemic. The chain rate of Chinese catering continues to rise, from 2017 Year-end 2022 During the year, the chain rate decreased from 9% Rising all the way 2022 nearly 20% During the pandemic, it has also steadily improved. However, compared with some developed countries around the world, there is still significant room for improvement in the catering chain penetration rate in China. Specifically, Chinese cuisine is the broadest segment in the catering industry. According to data analysis by Frost & Sullivan, the Chinese cuisine market accounts for nearly 80% It is highly recognized by the consumer market and has a huge user base. 2017 In [year], the scale of Chinese cuisine was about 3.2 trillion, with a Chinese catering chain penetration rate of about 15% After several years of development, 2023 The scale of Chinese-style catering exceeded expectations 4 Trillion, with the chain penetration rate of Chinese cuisine approaching 18% are expected 2027 In [Year], the scale of Chinese cuisine will be close to 6 Trillion, and the chain penetration rate of Chinese catering will exceed 20% . What is the future investment value of chain brands? Jia Pang stated that chain catering brands are still actively embracing the capital market, hoping to further expand their scale and build a competitive advantage through external funding support. The industry is also preparing to apply. IPO listing There are now quite a number of catering enterprises that are sprinting towards the capital market. Overall, we believe that the capital market still has confidence in catering consumption. In the future, there may be a large number of highly representative leading catering enterprises entering the capital market, and the concentration and chain rate of the catering industry will also become higher and higher. In addition, future niche brands within the same sector will be able to unlock greater investment value. We also expect to see more Chinese chain brands in the capital market, but the key lies in telling a good story about the niche sector and the brand itself. According to Frost & Sullivan's insights, especially taking into account some distinctive Chinese fast-food brands, such as Hefu Lao Mian on the noodle segment, Yu You Yi Zhi in the rice category, and Chinese hamburger Tastine, these niche industries have long had large-category offerings and lacked leading brands. There is significant room for scale-up and chain expansion in the future. Recommended Reading Market Positioning (Swipe up and down to view more) 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 The fast-paced lifestyle has raised the demand for convenient and delicious food, and frozen foods are thriving in line with this trend. China's wonton dumpling industry: Empowered by healthy nutrition and led by innovation for 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 lotus root food industry: exploration B end and C The end is near, welcoming a new high-profit blue ocean market New snack categories are accelerating their layout, and snacking healthization may become a mainstream trend. 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 the healthy economy is driving the continuous development of China's fruit 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 Industry Advisor (Swipe up and down to view more)   Frost & Sullivan assisted Lancang Ancient Tea in successfully listing on the Hong Kong Stock Exchange (6911.HK) Frost & Sullivan assisted Sichuan Dekang Agriculture and Animal Husbandry in successfully going public in Hong Kong (2419.HK) Frost & Sullivan assisted Kuaquan in successfully going public in Hong Kong (2517.HK) Frost & Sullivan helps Davis Commodities Successfully listed in the US (NASDAQ: DTCK) Frost & Sullivan assisted Zhenjiao Lidu in successfully going public in Hong Kong (6979.HK) Frost & Sullivan assisted DAS Group in successfully listing on the Hong Kong Stock Exchange (1405.HK) Frost & Sullivan assisted Shenzhen Baihuagarden in successfully going public in Hong Kong (2411.HK) Frost & Sullivan assisted Zhengwei Group in successfully going public in Hong Kong (2147.HK) Frost & Sullivan assisted Weilong in successfully going public in Hong Kong (9985.HK) Frost & Sullivan assisted Shuangcaizhuang in successfully going public on the Hong Kong Stock Exchange (2321.HK) Frost & Sullivan assisted Youran Muying in successfully going public on the Hong Kong Stock Exchange (9858.HK) Frost & Sullivan assisted Joyou Wang in successfully going public in Hong Kong (1927.HK) Frost & Sullivan assisted BSWG in successfully listing on the Hong Kong Stock Exchange (9987.HK) Frost & Sullivan assisted Nongfu Spring in successfully going public on the Hong Kong Stock Exchange (9633.HK) Frost & Sullivan assisted Fengxiang Food in successfully listing on the Hong Kong Stock Exchange (9977.HK) Frost & Sullivan assisted SIMOR to successfully go public in Hong Kong (6969.HK) Frost & Sullivan assists China's Feihai in successfully going public in Hong Kong (6186.HK) Frost & Sullivan assisted China National Tobacco International in successfully going public in Hong Kong (6055.HK) Frost & Sullivan helps select top-quality products 360 Successfully listed on the Hong Kong stock market (2360.HK) Frost & Sullivan assisted Wugu Mofang in successfully going public in Hong Kong (1837.HK) Frost & Sullivan assisted BaoBABA in successfully going public in Hong Kong (1761.HK) Frost & Sullivan assisted Haidilao in successfully listing on the Hong Kong Stock Exchange (6862.HK) Frost & Sullivan assists sustainable agriculture in successfully listing 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 assisted Xinrong International in successfully listing on the Hong Kong Stock Exchange (1587.HK) Frost & Sullivan assisted Yiyuan Liquor Industry in successfully going public in Hong Kong (8146.HK) Frost & Sullivan assisted Jierong International in successfully listing on the Hong Kong Stock Exchange (2119.HK) Frost & Sullivan assisted BNP Paribas International in successfully listing on the Hong Kong Stock Exchange (1705.HK) Frost & Sullivan assisted Nippon Sake & Foods in successfully going public in Hong Kong (1475.HK) Frost & Sullivan assists Asian grocery giant in successfully listing on the Hong Kong Stock Exchange (8413.HK) Frost & Sullivan assisted Chow Hing Duck in successfully going public in Hong Kong (1458.HK) Frost & Sullivan assisted COFCO Meat Group in successfully listing on the Hong Kong Stock Exchange (1610.HK) Frost & Sullivan assisted Yihai International in successfully going public in Hong Kong (1579.HK) Frost & Sullivan assisted Zhongdi Dairy in successfully going public in Hong Kong (1492.HK) Frost & Sullivan assisted Dahili Foods in successfully going public in Hong Kong (3799.HK) Frost & Sullivan assists Manor Ranch in successfully going public in Hong Kong (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 by listing time.

2024 year 3 month 22 Today, Frost & Sullivan, in collaboration with the China Academy of Information and Communications Technology (hereinafter referred to as 'CAICT'), the China Communications Standardization Association, and Frost & Sullivan co-hosted by “Frost & Sullivan”   2024 Cloud Computing Value Impact Matrix Launch Event and Industry Analysts' Closed-Door Meeting   The event was successfully held in Beijing. He Baohong, Director of the Cloud Computing and Big Data Research Institute at the China Academy of Information and Communications Technology (CAICT), Li Wei, Deputy Director of the same institute, Yang Xiaocheng, Partner and Managing Director of Frost & Sullivan Greater China, and representatives of analysts from various enterprises attended the meeting. The press conference began with   He Baohong, Director of the Cloud Computing and Big Data Research Institute at the China Academy of Information and Communications Technology   In his speech, He stated that in the future, CAICT will actively play the role of a think tank's 'brain', continuously promoting the 'industry - Market ”Convergence research, aiming to represent it with the Value Impact Matrix series. We will delve into data value, focus on hot areas, continuously innovate ecological models, provide the industry with a rich variety of matrix types that truly meet needs, and promote innovation in the industry's future ecological system. At the meeting,   He Baohong, Director of the Cloud Computing and Big Data Research Institute at the China Academy of Information and Communications Technology   and   Yang Xiaocheng, Partner and Managing Director of Frost & Sullivan Greater China   Jointly released with great weight   "The 2023 Hybrid Cloud Value Proposition Map   3D result map.   Li Wei, Deputy Director of the Cloud Computing and Big Data Research Institute at the China Academy of Information and Communications Technology   and   Yang Xiaocheng, Partner and Managing Director of Frost & Sullivan Greater China   Jointly released   2024 Cloud computing value influence matrix, including intelligent cloud, cloud operating system, and the supply capabilities of central government-owned enterprise cloud service providers   and   Cloud Management   As one of the four annual directions, research work has been officially launched. Then, by   Ma Fei, Director of the Cloud Computing Department at the Institute of Cloud Computing and Big Data, China Academy of Information and Communications Technology   Official launch   Cloud Computing Market Leading Providers List 2024 )》   Research. By focusing on representative technological innovations in cloud computing, innovative business models, leading market shares, and clarifying the competitive advantages of various service providers, this study aggregates the capabilities and resources of software and hardware service providers upstream and downstream the industrial chain, providing assistance for the transformation and upgrading of China's cloud industry. Subsequently,   Su Yue, Deputy Director of the Cloud Computing Department at the Institute of Cloud Computing and Big Data, China Academy of Information and Communications Technology   Key points are interpreted as follows   "The 2023 Hybrid Cloud Value Proposition Map   The compilation process, evaluation methodology, and the supply capabilities of intelligent cloud, cloud operating systems, central government and state-owned enterprise cloud service providers, as well as multi-cloud management 2024 Annual matrix work direction. Su Yue stated that 2023 The 'Hybrid Cloud Value Impact Matrix' was jointly researched by the China Academy of Information and Communications Technology (CAICT) and Frost & Sullivan. It scientifically comprehensively evaluates vendors in the hybrid cloud field from three dimensions: technical capabilities, market capabilities, and strategic layout. Based on a three-dimensional research hierarchy and a four-level progressive evaluation index system, it presents the leading hybrid cloud vendors for the first time in a three-dimensional graphic collection. During the subsequent meetings, China Academy of Information and Communications Technology, Unicom Digital Science & Technology Group, Alibaba Cloud, and Tianyi Cloud shared industry technology hotspots respectively.   Li Zihan, Senior Business Supervisor of Cloud Computing Department, Institute of Cloud Computing and Big Data, China Academy of Information and Communications Technology   Shared the "Cloud Computing Market's Leading Providers List ( 2024 ) Compilation ideas.   General Manager of R&D Department of Cloud Management Platform Department of Cloud Business Unit of Unicom Digital Technology Co., Ltd., Wen Yuan   Shared the keynote speech titled "A New AI Computing Engine Empowering Intelligent Industry Upgrades".   Li Liang, General Manager of Cloud-specific Product Solutions for Government and Enterprise Business Unit at Alibaba Cloud   Published an article titled "Embrace Full-Scenario Intelligent Computing · Definition AI Speech at "The Times' Government and Enterprise Cloud Platform",   Liu Chao, a senior technical expert at Tianyi Cloud Technology Company   Shared the keynote speech titled "The Digital Infrastructure of Guoyun Boosts the High-quality Development of the Digital Economy".   Gong Yixiang, Senior Analyst at the Cloud Computing Department of the Cloud Computing and Big Data Research Institute of China Academy of Information and Communications Technology   The report shares observations on the development of China's cloud computing market and intelligence. this time 2024 The Cloud Computing Value Impact Matrix Release Conference and Industry Analysts' Closed-Door Meeting successfully unveiled the first three-dimensional matrix chart of hybrid cloud value impact, and announced the subsequent research plans for the matrix and list. It is hoped that through a series of innovative scientific evaluation works such as matrices and lists, a communication and docking platform can be provided for the cloud industry, continuously contributing to the transformation and upgrading of China's cloud industry.

Affected by regulatory environment changes, many companies have recently withdrawn A Share listing applications. According to Frost & Sullivan's observation, are these companies likely to wish to list in Hong Kong or overseas? If so, which industries or types of companies are more likely to switch to Hong Kong? In the Hong Kong white paper released by Frost & Sullivan and Jeli, Frost & Sullivan expects consumer goods, biomedicine, and technology companies specializing in niche fields to be actively preparing for listing in Hong Kong. In the same track or similar sectors / Companies of various types have chosen Hong Kong as their listing destination. Is there a possibility that they may face more competitive pressure in terms of valuation and issuance? Under the continuously low valuation and market sentiment in Hong Kong stocks, what is the outlook for mainland companies listing in Hong Kong?     Frost & Sullivan Frost & Sullivan Dr. Wang Xin, Global Partner and Managing Director of Greater China at Frost & Sullivan, is interviewed below: Mergermarket Interview, sharing recent observations by Frost & Sullivan on mainland enterprises going public in Hong Kong.   Mergermarket   * Click at the end of the article Read the original text View the full report     Q :    Affected by regulatory environment changes, we have noticed that many companies have recently withdrawn A Share listing applications. According to Frost & Sullivan's observations, are these companies likely to wish to list in Hong Kong or overseas? If so, which industries or types of companies are more likely to switch to Hong Kong?   at 2023 In the year, there were a total of 433 Enterprises choose to be located in A Initial listings of stocks across different sectors, including 41 Last year, the listed company chose to withdraw its listing application before the end of last year, and this year 2 month 27 On the same day, the number of companies withdrawing their listing applications further increased to 68 Home, recent corporate withdrawal A The trend of stock listing applications is indeed worthy of our attention. It is noteworthy that nearly 90% of companies choose to 2023 year 8 month 27 The China Securities Regulatory Commission (CSRC) has issued the 'CSRC's Overall Coordination of the Balance between Primary and Secondary Markets optimization IPO listing The listing application was withdrawn after the 'Re-financing Supervision Arrangement', which was made after the CSRC fully considered the current market situation. The arrangement mainly proposes to tighten supervision in stages IPO listing Rhythm promotes dynamic balance at both investment and financing ends. At the same time, regulatory requirements that emphasize supporting the advantageous and restricting the inferior have been put forward. This indicates that changes in the regulatory environment have become a recent focus for many companies. A One of the main reasons for the withdrawal of a stock's listing application. 2023 The year is the first year for China's capital market to implement a comprehensive registration-based system reform, although A The institutional arrangements for the share registration system have been basically finalized, but for those that are to be fully implemented within one year only A In the stock market, there is still much room for improvement. In contrast, the Hong Kong stock market has a more mature mechanism and a longer development history, which will provide better listing opportunities for some enterprises that meet the listing requirements. Especially for companies in consumer goods, biomedicine, and specialized technology fields (including new-generation information technology, advanced materials, new energy and environmental protection, as well as new food and agricultural technologies), they will gain better development opportunities if they meet the Hong Kong listing requirements. In recent years, it has been A The number of consumer companies listed on the stock market is relatively limited, mainly due to A Stocks have relatively strict review requirements for relatively traditional mass consumer enterprises and fast-moving consumer goods and catering chain enterprises. In contrast, the Hong Kong stock market holds a more neutral attitude towards consumer industries involving mass 'food, clothing, housing, and transportation'. As of now, several consumer enterprises such as Tea Bai Dao and Xiao Cai Yuan have submitted applications to list on the Hong Kong stock market. It is particularly worth mentioning that Zhenjiu Lidu Group, as a representative of the liquor industry, 2023 year 4 month 27 It was successfully listed on the stock market, becoming the largest IPO listing issuing company, also recently 7 The only successful listed company in the liquor industry over the past year. Meanwhile, in the withdrawal A Stock listing application 68 Among enterprises, about one-third come from software and information technology services, as well as the manufacturing of computers, communications, and other electronic equipment, and nearly 10 My family comes from the pharmaceutical manufacturing industry. Enterprises in these industries are also one of the types that the Hong Kong stock market has been actively welcoming in recent years. 2018 In [year], the Hong Kong Exchanges and Clearing Limited specifically added 18A Chapter, allowing eligible biotech companies without revenue to list on the Hong Kong stock market IPO listing Listed financing. To date, there have been 60 Home biotech companies through 18A Log in to the Hong Kong Stock Exchange, with a cumulative fundraising amount exceeding one hundred billion. Subsequently, the Hong Kong Stock Exchange 2023 Released again this year 18C Zhang aims to provide more opportunities for special professional technology companies with significant development potential to enter the Hong Kong capital market. Therefore, we believe that enterprises from consumer goods, biomedicine, and specialized technology fields that meet the listing requirements for Hong Kong stocks will find it easier to transition to the Hong Kong market.     Q :    We see that in the Hong Kong white paper released by Frost & Sullivan and Jely, Frost & Sullivan expects consumer goods, biomedicine, and technology-specific companies to be actively preparing for listing in Hong Kong. Companies in the same sector or similar fields / Are companies of this type choosing Hong Kong as their listing destination, potentially facing more competitive pressure in terms of valuation and issuance?   Against the backdrop of companies in fields such as consumer goods, biomedicine, and specialized technology actively preparing to go public in Hong Kong, if companies in the same sector or similar fields choose Hong Kong as their listing destination, they are likely to face more valuation and issuance pressure. However, this situation is precisely the manifestation of Hong Kong stocks as a mature international capital market. Under the current fundraising environment, investors usually conduct comprehensive comparisons and evaluations of a company's financial condition, business prospects, and growth potential. This means that companies need to continuously provide more attractive business models, innovative products or services during operations to enhance their competitiveness. Moreover, during the stock issuance roadshow process, they should more actively showcase differentiated investment stories to potential investors, demonstrating their own advantages and competitiveness to win investor recognition and financial support. This competitive pressure is actually a manifestation of the healthy development of the capital market, driving companies to continuously improve their strength and promote the progress of the entire industry.     Q :    Under the continuously depressed valuation and market sentiment in Hong Kong stocks, what is the outlook for mainland companies going public in Hong Kong?   Despite being affected by overseas capital markets and macroeconomic environments, the Hong Kong stock market has recently faced challenges including low valuations and low liquidity. However, we remain optimistic that mainland enterprises still have a positive outlook and potential for listing in Hong Kong. As one of the global financial centers, Hong Kong's stock market has always had strong resilience and attractiveness. Despite recent market fluctuations, the Hong Kong stock market still has a mature legal system, sound regulatory mechanisms, and an open capital market, providing a good listing platform for mainland enterprises. At the same time, as the economy gradually recovers and investor confidence rebounds, the prospects of the Hong Kong stock market will gradually become clearer. Investors are optimistic about the long-term development prospects of mainland enterprises, which will provide more sources of funding and support for mainland enterprises listing in Hong Kong. *   This interview was published in Mergermarket    The reporter is Jin Yanbo, and the original title is:   Moving on: China's IPO hopefuls shift to Hong Kong to avoid A-share delays Recommended Reading

The 3rd Power Supply Summit Recently, 2024 The 3rd Annual Power Supply Summit Forum was held at Pengrun to Plaza in Nanshan, Shenzhen ECO Held at the International Convention Center, exceeding 150 More than a hundred people participated in this forum. This forum mainly focuses on the theme of "Future Energy Hubs", grasping the industry's development pulse, exploring energy development directions, concentrating on the development trends of new energy industries in the new era, integrating the new three-electric systems (electrochemistry, power electronics, and power grids), and from investment and capital markets IPO listing From the perspective of listing, discussions were held on the opportunities and challenges for industry development. Over a hundred representatives from academia, domestic new semiconductor materials, magnetic materials, battery materials, new energy photovoltaic energy storage companies, as well as those in the fields of investment and financing and securities gathered together to offer suggestions and pool wisdom for promoting industry openness and integration, as well as healthy and rapid development. Frost & Sullivan Frost & Sullivan Xiang Weili, Executive Director of Frost & Sullivan Greater China, was invited to attend the event and delivered a keynote speech on the current development status and trends of the new energy vehicle industry. Executive Director, Greater China, Frost & Sullivan To power Xiang Weili first briefly introduced the global and Chinese new energy vehicle industry overview to the attendees. He pointed out that under the 'dual carbon' backdrop, many countries and automakers have set timeframes for transitioning from traditional fuel vehicles to new energy vehicles, and the new energy transformation in the automotive industry has become an inevitable trend. 2023 In [year], global new energy vehicle sales were approximately 1,510 10,000 units, an increase of about 29.0% , with consistent growth worldwide. Among them, China's new energy vehicle sales have grown the strongest, with sales expected to be about 938 10,000, accounting for approximately 62.2% Under the wave of global new energy vehicle development, countries around the world are accelerating their pace of electrification transformation, with rapid development occurring in regions such as China, Europe, and the United States.   "Since 2018 Since the beginning of this year, China's new energy vehicle sales have long maintained the top position globally and are the largest new energy vehicle market in the world. Source: Analysis by Frost & Sullivan     since 2018 Since [start year], pure electric vehicles have always been the most popular type of new energy vehicle in both the global and Chinese new energy vehicle markets, accounting for 70% Market share on the left and right.   Benefiting from the increasing consumer awareness of new energy vehicles, support from relevant policies, the improvement of charging infrastructure, and the advancement of advanced technologies, pure electric vehicles will continue to be favored by consumers. In the future, the new energy vehicle industry will develop around the three major aspects of 'energy, intelligence, and connectivity'. Source: Analysis by Frost & Sullivan Subsequently, analyses were conducted on new energy passenger vehicles and new energy commercial vehicles by Wei Li respectively. Source: Analysis by Frost & Sullivan In recent years, with the enhancement of environmental awareness and government policy support, consumers' demand for new energy passenger vehicles that are environmentally friendly and energy-efficient has been continuously increasing. Along with further improvements in the comprehensive performance, intelligent technology, ownership cost, product quality, reliability, value-added services, and environmental benefits of global new energy passenger vehicles, 2023 Global new energy passenger vehicles accounted for 21.6% Among them, the sales volume of new energy passenger vehicles in China accounted for more than 60% Continuously leading the development of the global new energy passenger vehicle market. Data shows that under the 'dual carbon' strategy, the automotive industry is accelerating its development towards low-carbon and zero-carbon emissions. The sales volume of pure electric passenger vehicles has risen rapidly, with a continuous increase in penetration rate. 2022 In [year], the sales volume of pure electric passenger vehicles in China exceeded 500 Ten thousand units, and China's pure electric passenger vehicles account for more than 22% , is expected to arrive 2025 In [year], the sales volume of pure electric passenger vehicles will exceed 900 Ten thousand, market penetration rate exceeds 33% .   In the future, Chinese new energy passenger vehicle enterprises will continue to expand overseas markets on the basis of consolidating their domestic market advantages. The continuous development of related new energy passenger vehicle technologies will bring consumers a more intelligent, safe, and convenient travel experience. Source: Analysis by Frost & Sullivan Looking at the commercial vehicle sector, 2023 In China, the total mileage of expressways opened to traffic exceeded 17.7 Ten thousand kilometers are an important transportation route at the core of China. However, traditional fuel-powered commercial vehicles face issues such as the energy crisis, persistently high fuel prices, and carbon emissions being restricted by national environmental protection policies. New energy commercial vehicles are currently developing towards greener, more economical, and intelligent directions, helping China's transportation industry achieve the 'dual carbon' goal at an early date through energy conservation and emission reduction. Source: Analysis by Frost & Sullivan New energy commercial vehicles, depending on different scenarios, ensure economic feasibility and operational efficiency while combining different types of new energy commercial vehicles (pure electric commercial vehicles BEV Plug-in hybrid commercial vehicles PHEV Range extender commercial vehicles EREV ) and fuel cell commercial vehicles FCEV ) The product features empower various scenarios such as urban distribution logistics, trunk transportation, and public transportation.   Xiang Weili stated that with continuous technological progress and the maturation of the industrial chain, new energy commercial vehicles are expected to bring greater economic benefits to users, and their penetration rate in the commercial vehicle sector is expected to continue to increase. Source: Analysis by Frost & Sullivan   Pointing out to Wei Li that the development of the new energy commercial vehicle industry requires more consideration of differences in vehicle models and usage scenarios.   To meet the needs of different application scenarios, it is necessary to promote the research and development of different technical routes, product innovation, and marketing in a targeted manner. For example, light commercial vehicles are suitable for urban distribution and short-distance transportation with pure electric lines, while heavy commercial vehicles may be more suitable for long-distance transportation with hybrid power and closed-loop logistics transportation with pure electric lines. Industry participants can customize solutions according to different usage scenarios, including vehicle configuration and technical route selection, charging infrastructure construction, operational model design, and other aspects of support. According to a study by Frost & Sullivan, the penetration rate of new energy commercial vehicles in China has been steadily increasing in recent years. 2020 Only in the year 2.9% reach 2021 year 4.6% , and then to 2022 year 12.7% This rapid growth indicates that the effective policy support from the government and the driving force of market demand are at work. With the continuous maturation and popularization of new energy technologies and the increasing emphasis on environmentally friendly modes of transportation, it is predicted 2027 The penetration rate of the new energy commercial vehicle market in the year will further increase to 28.5% . Source: Analysis by Frost & Sullivan "With the continuous development of technology and changes in market demand, multiple new energy technology routes will coexist in the future, with different emphases depending on the application scenarios," Xiang Weili further explained. "Currently, pure electric technology is the most mature and feasible power technology route in China's new energy commercial vehicle industry; hybrid technology can provide longer driving ranges and stronger power output; while fuel cell technology has advantages such as environmental friendliness, rapid refueling, and long cruising ranges. For some specific commercial vehicle types, such as heavy-duty long-distance transport vehicles, it may become a promising alternative." Source: Analysis by Frost & Sullivan In recent years, the Chinese government has introduced a series of policy measures to promote the popularization of new energy commercial vehicles in various fields such as logistics transportation, public transportation, public services, and specific scenarios. Driven by these policies, the application of new energy commercial vehicles in these fields is accelerating. It is predicted that by 2023 At the end of the year, the number of new energy commercial vehicles insured in China will be close to 40 10,000 units.   Xiang Weili stated that in the future, with further improvement in the intelligence level of new energy commercial vehicles and the completion of digital platform construction, new energy commercial vehicle manufacturers will provide customers with full life cycle fleet solutions.   It includes comprehensive solutions such as after-sales service and transportation services. It also provides targeted solutions to customers' problems in single or complex scenarios, helping them reduce initial capital investment, alleviate cash flow pressure, and enable them to focus on the development of their own business areas. "Industry participants need to draw on mature technologies in the development of new energy commercial vehicles, accelerate energy efficiency improvements, and provide intelligent and user-friendly configurations to meet user needs and drive industrial progress. At the same time, by integrating autonomous driving and intelligent connected technologies, they should create digital products to achieve comprehensive digital management, improve vehicle safety and intelligence levels. Finally, industry participants also need to pay attention to the scenario adaptability of new energy commercial vehicles, including customizing vehicle designs and functions according to different usage scenarios, to meet users' needs in different industries and environments." Xiang Weili summarized. Recommended Reading

Small Molecule Drugs and Peptide Drugs Innovation Summit 2024 year 3 month 21 - 22 Date, hosted by Shanghai Kaimo Information Consulting Co., Ltd. SIT 2024 The 6th Small Molecule and Peptide Drug Innovation Summit grandly opened. The conference content focused on the innovative development, project establishment strategies, production, and MAH Translational medicine, win-win cooperation PROTAC Covalent inhibitors, PPI Conformational inhibitors, peptide conjugates, peptide weight loss drugs AI and CADD Assisting in new drug development and other new technologies, crossing over hotspots in small molecule drug research and development, and providing an overview of current trends in chemical innovative drug research and development. This conference brings together half of the industry's talents in small molecule drugs and peptide drugs, working together 70 Remaining speakers, attracting over 1,200 Industry peers attended the event, committed to breaking the industry's closed loop, promoting innovative and diversified development, and facilitating the healthy development of the industry's industrial chain. As a media partner for this conference, Frost & Sullivan Frost & Sullivan Chen Zhenrong, Consulting Director of Life Sciences Business Unit in Greater China at Frost & Sullivan, was invited to attend PDD2024 The Polypeptide Drug Industry Development Forum was held, during which speeches were delivered on the current status and development trends of the global polypeptide drug market. Consulting Director, Life Sciences Business Unit, Frost & Sullivan Greater China Region Chen Zhenrong Chen Zhenrong pointed out that with the rapid increase in approved weight loss indications and high consumer demand, 2022 Global GLP1R The market scale of peptide drugs has reached 254 billions, expected to 2030 Annual or achievable 908 billion US dollars. The global peptide drug market has seen a significant increase in volume, 2022 The market scale has reached 754 billion dollars, in GLP1R Under the continuous impact of peptide drugs, it is expected that the overall market scale of peptide drugs will reach 2030 Annual reach 2,108 billions, while the market scale of peptide drugs in China is also increasing year by year with the global market scale. It is expected that the Chinese market will become the main driving force for the global peptide drug market in the coming years, with the market scale accounting for a stable proportion of 15% left and right. Source: Analysis by Frost & Sullivan Looking at the current development status of the global peptide drug market, Chen Zhenrong stated that the targets of peptide drugs are showing a diversified trend, not limited to GPL1R Targets, with increasingly diversified choices, will further drive the development of peptide drugs and continuously expand the scope of indications for these medications. In addition, as peptide drug products are approved, more related research and data are being disclosed. GLP1R Taking peptide drugs as an example, research has found that they not only have blood sugar regulation effects but also possess multiple metabolic regulatory functions such as weight loss and cardiovascular protection. These new findings will further promote the market's exploration of the multiple clinical benefits of peptide drug therapy.   "The Chinese peptide drug market started relatively late, and there are currently few approved domestic peptide new drugs. However, with the gradual improvement of China's peptide drug production industry chain, the Chinese peptide drug BE The number of clinical trials conducted has risen rapidly, bringing development opportunities to many domestic generic drug manufacturers.   Chen Zhenrong further pointed out that in recent years, our country GLP1R The growth rate of the peptide drug market has driven rapid expansion in China's peptide drug market. Due to China's large population base and widespread demand, while import product capacity is limited, there is still a significant gap on the demand side. For example, after the launch of semaglutide injection, there has been a shortage of supply. It is expected that with the approval of new products and generic drugs, the future development space of China's peptide drug market will be broad. Source: Analysis by Frost & Sullivan Chen Zhenrong stated that, driven by high demand, the Chinese peptide drug market has seen double growth in generic and innovative drugs, with continuously improving clinical acceptance. At the same time, specialization CRDMO It will also strongly drive the continuous growth of China's peptide drug market, leading to industrial upgrading.   More exciting moments from the event arena About Frost & Sullivan's Life Sciences Practice The Life Sciences Practice of Frost & Sullivan has professional analytical capabilities and extensive project experience in the field of life sciences. Leveraging Frost & Sullivan's global think tank resources and cross-industry business development platform in Greater China, the Life Sciences Practice has unique core advantages in investment and financing services for the life sciences industry. The Life Sciences Practice has a wide range of corporate clients in China and in the past 20 In the year, a vast customer network was established, accumulating a wealth of project experience in various subfields of life sciences. Project types include Knowledge Center projects (in-depth content and promotional activities). Pre-IPO financing project DCF model Valuation, Business Plan Services), IPO listing We provide listed projects (industry consulting, clinical audits, fundraising and investment writing), market research, market value management, and strategic consulting, among others. We also cooperate with well-known domestic and international information platforms and investment and financing institutions to offer one-stop solutions for enterprises in specialized fields such as pharmaceuticals and medical devices. Our services have received widespread attention from investors.

9th Retail Logistics and Supply Chain Summit In recent years, China's retail consumer market has shown strong momentum. Despite the changing macro environment, multiple pressures such as the rise of new consumption models, technological innovations that bring about new indicators of change, and 'carbon neutrality' becoming a focus of regulations and social responsibility, the retail industry's logistics supply chain has delivered excellent results in digitalization. During the industry's inflection point, demand-side and retail enterprises need to optimize logistics distribution and transportation planning, enhance supply chain response speed and flexibility, and improve green ratings to meet consumers' growing demands for product quality and delivery speed. Most retail fast-moving consumer goods (FMCG) companies are actively seeking supply chain transformation and upgrading solutions, designing and deploying a series of logistics technology applications, but some are still struggling to survive amidst the digital transformation of the logistics supply chain. The development of supply-side logistics technology has also accumulated some excellent cases and provided fertile ground for industry transformation. 2024 year 3 month 15 day, Logtalk The 9th Retail Logistics and Supply Chain Summit was successfully held in Shanghai. Centered around core sectors such as food, beverages, beauty products, shopping malls, and daily chemicals, the summit brought together hundreds of retail enterprises and 200 The head of digital logistics supply chain and technology experts held a synchronous dialogue, focusing on the new model of comprehensive innovation and transformation in logistics and supply chains. They addressed the pain points of retail cost reduction, collaborated to optimize brand efficiency, and empowered enterprises to improve quality and achieve new growth. Frost & Sullivan Frost & Sullivan Zhou Mingzi, Executive Director of Frost & Sullivan's Greater China Region, was invited to attend the event and share insights on China's digital logistics and supply chain industries. Executive Director, Greater China, Frost & Sullivan Zhou Mingzi Zhou Mingzi stated that with the continuous development of the economy, the demand for logistics services in China is expanding day by day. With the continuous improvement of infrastructure and industry development in the logistics sector, the total social logistics volume has been climbing steadily. Driven by various factors such as policies, demand, technology, and capital, the market scale of China's logistics industry is continuously expanding. 2022 Total national social logistics volume 347.6 trillion yuan 2018 till 2022 In the year, the annual compound growth rate of total social logistics in China reached 5.3% estimated 2027 In [a certain year], China's total social logistics volume can reach 445.8 trillion yuan. The logistics industry spans the entire process of enterprise procurement, manufacturing, and sales, involving a vast industrial chain and serving as an important bridge connecting various industries and sectors.   As a fundamental, strategic, and leading industry supporting the development of the national economy, China's logistics sector has a high degree of synergy with macroeconomic growth and is an important tool for the country to stimulate economic development. As an indispensable part of the logistics industry, retail logistics plays a crucial role in connecting suppliers, retailers, and consumers, directly affecting the supply and sales of goods. The continuous changes in consumer demand and the rapid development of e-commerce have driven the continuous development of the retail logistics industry. Zhou Mingzi pointed out that in recent years, China has successively introduced a number of policies to encourage the development of the logistics industry. From a policy perspective, China's logistics industry is moving towards digital transformation. Multiple policies such as the '14th Five-Year Plan' for digital economy development and the '14th Five-Year Plan' for the development of a modern comprehensive transportation system indicate that intensification, intelligence, platformization, and greening are becoming new characteristics of the current development stage of the logistics industry.   The data shows,   2016 In [Year], China has become the world's largest logistics market. From the perspective of the composition of the logistics industry, social logistics costs in our country mainly include transportation costs, storage costs, and management costs. Among them, transportation costs account for the largest proportion of total social logistics costs. 50% As mentioned above, Gao Da 9 trillion yuan. In logistics transportation, there are various forms of transportation, including road transportation, air transportation, etc. Among them, the transportation cost of road transportation accounts for more than 70% . Source: Analysis by Frost & Sullivan Highway freight is divided into three main forms based on the weight of the goods: express delivery, less-than-truckload (LTL), and full truckload (FTL) transportation. 2026 In [year], the scale of China's highway freight market will exceed 8 trillion yuan, of which less-than-truckload (LTL) and full-truckload (FTL) transportation account for 90% .   "With the flexibility of social production, transportation methods are gradually shifting towards multi-batch and small-batch parcel delivery, expanding the profit margin of the express delivery market. It is expected that the market share of parcel delivery will continue to grow at a relatively rapid pace."       In addition, with the development of e-commerce retailing, the number of daily active users of merchants and customers on multiple e-commerce platforms such as Taobao, Tmall, Pinduoduo, Douyin, Kuaishou, and Rednote has been steadily increasing, driving the development of the express delivery industry, a sub-sector of road transportation in China. 2021 The annual highway freight market scale is about 5.9 trillion yuan, expected 2026 The year will grow to 8.2 trillion yuan. Subsequently, Zhou Mingzi briefly analyzed the pain points in the logistics industry and further shared on how technology empowers this sector.   He pointed out that the logistics industry faces issues such as information asymmetry, unreasonable transportation routes, dispersed capacity, and insufficient coordination of data elements, which lead to persistently high transportation costs. In addition, under the backdrop of carbon neutrality, the green transformation of the logistics industry has become a topic that industry players need to take seriously. Data shows that there is 80% The above transportation capacity is in the hands of individual transporters, with a majority being small transport enterprises. In terms of market concentration by sub-sectors, the concentrations in the parcel and full truckload markets are insufficient. 5% The overall logistics market has dispersed capacity with low concentration. At the same time, due to the low threshold for entering the logistics industry, a surge in enterprises has led to serious homogenization of services. Moreover, logistics companies compete by increasing discounts and overloading transportation, squeezing profit margins and causing disorderly competition. This has resulted in lower overall transport efficiency and limited profit margins for the industry. Source: Analysis by Frost & Sullivan   Zhou Mingzi pointed out that the digital and intelligent transformation will greatly empower the logistics industry. Through underlying technical support, it will promote the traditional logistics transportation industry to achieve digital operational capabilities, digitize logistics-related businesses, automate logistics processes, and make logistics operations more intelligent. This will achieve strong connectivity among people, vehicles, goods, and money, helping the industry reduce costs, increase efficiency, and undergo a green transformation.   "Digital transformation has created value for all participants in the logistics industry."   Zhou Mingzi further explained, For truck owners, Digital logistics infrastructure helps truck owners quickly acquire customers through digital operations, reducing the idling rate of vehicles. At the same time, the platform's core technologies such as big data algorithms, location platforms, and communication can quickly assist truck owners in planning reasonable routes, saving transportation costs, and reasonably scheduling time. For retail enterprises, The digital logistics infrastructure enables the full online process of transportation through the logistics transportation trading platform, helping enterprises track goods at any time, plan comprehensively, and improve their control over transportation; For the logistics industry, Through digital operations and implementing measures such as rational route planning in the logistics industry, unnecessary carbon emissions can be reduced, facilitating a comprehensive green transformation of the logistics sector.   Finally, Zhou Mingzi concluded that in addition to digital and intelligent transformation, the industry will also exhibit two trends in the future: 1 Industry players will transform from a single smart logistics business to a smart supply chain business; 2 Achieve the low-carbon greening of logistics. On one hand, comprehensive enterprises that focus on serving supply chain companies will become the mainstream of the industry in the future. Smart supply chain enterprises, by deeply understanding customer pain points and needs, provide diversified product portfolios to upstream retail businesses and downstream truck drivers, thereby enhancing the customer's full lifecycle value. Source: Analysis by Frost & Sullivan On the other hand, controlling energy production and consumption carbon emissions is key to achieving the national carbon peak goal. The transportation sector is one of the main carbon emission scenarios, and China's transportation sector accounts for about a certain proportion of the total carbon emissions. 9% Logistics industry players are actively promoting the use of green energy and the replacement of new energy heavy trucks. Through cloud data platforms for data statistics, all parties involved in the industry can directly profit from carbon trading or reduce financing costs through carbon credit, ultimately leading to a green transformation of the industry. Source: Analysis by Frost & Sullivan

In recent years, with the continuous changes in the global economic environment and industrial structure, as well as the continuous improvement of China's consumption level and capacity, the large consumer industry, as one of the important pillar industries, continues to attract market attention. Despite facing challenges, with digitalization, intelligence, and capital support, China's large consumer industry is embracing more opportunities and undergoing an unprecedented transformation.   Data from the 'Statistical Bulletin on National Economic and Social Development in 2023' released by the National Bureau of Statistics of China show that the per capita consumption expenditure of residents nationwide in 2023 was 26,796 yuan, a real increase of 9% compared to the previous year. Consumption is gradually becoming the main driving force for economic development. How to create more and richer consumption scenarios to boost residents' confidence in consumption and promote consumption has become a hot topic at present.   In 2024, the Chinese economy will still possess both resilience and potential. Currently, the global economy and industrial structure are at a critical stage of deep adjustment, and the importance of consumption, as one of the core drivers and cornerstones of the Chinese economy, has risen to a new level.   Against this backdrop, a group of outstanding large consumer enterprises, investment institutions, and individuals have emerged in China, who also place significant expectations on the prospects for high-quality development in the consumer industry. To promote the development of the large consumer sector and boost public consumer confidence, PwC, Frost & Sullivan, together with the China Consumer Goods CXO Innovation Center and Forbes China, held the 2024 China Consumer Goods Annual Ceremony on March 8th, unveiling the "2024 Forbes China Consumer Goods Annual Selection" and "2024 Frost & Sullivan China Consumer Goods Annual Selection". The successful holding of this event is also inseparable from the tremendous support provided by the main sponsor, Guojiang Group Holdings, and the co-sponsor, Dripping Water Connect.   This grand event is held with "Build a global presence, sink into the market channels, and win the future." With the theme in mind, economists, decision-makers from investment institutions, industry experts, brand experts, and others attending the event discussed the innovative development, sustained growth, localized deep cultivation, and overseas expansion in the large consumer sector from multiple dimensions such as economy, capital, brand, and channels. It provides an in-depth analysis of the overall trends in global and Chinese consumer markets, endowing new impetus for exploring sustainable growth paths for Chinese consumption under the new pattern. 1. Confidence and expectations: Prerequisites for China's consumption expansion and upgrading   After a decade of rapid growth, China's consumer goods industry has entered a new development pattern and faced new challenges.   Wu Xiaoqiu, Dean of the National Institute of Finance, Renmin University of China It is believed that 'with stable consumption, there is hope for China's economic growth. The prerequisite for consumption expansion and upgrading is to enhance consumer confidence and expectations, such as stabilizing employment and people's livelihoods, maintaining equal development of foreign investment, private capital, and state-owned assets.'   Wu Xiaoxiu saw that more and more young entrepreneurs in China are thinking about reform, pondering the direction for the future, such as changing the entire market structure by going global. He believes that this is the most critical factor for China's future filled with hope. He further stated, 'Of course, I am also certain that in the future, China will surely move forward along the current path of market economy, reforming itself to become internationalized, allowing everyone and every market entity to have more and more space.' Wu Xiaoqiu, Dean of the National Institute of Finance at Renmin University of China     2, Changes in consumption structure How can enterprises achieve brand "longevity and red prosperity"?   From consumption upgrading to a complex and diversified consumption structure, China's consumer market has entered the fast lane of model innovation.   Yan Gewen, Chief Strategy Officer of Forbes China Group, and Wang Jinchuan, Founder of the China's Leading Consumer CXO Innovation Center In their speeches, it was mentioned that today's consumption development trend has shifted from consumption upgrading in previous years to a complex and diverse consumption structure, with an increasingly prominent polarization trend. The mentality and habits of consumer groups are changing rapidly. In response to this, Neilson IQ's Chief Growth Officer for China, Zheng Ye He compares this to an era of 'meticulous' consumption. He believes that with the continuation of rational consumption concepts, consumers are showing a more complex and differentiated trend in their consumption strategies and behaviors. In the future, China's consumer goods market will continue to grow driven by diversified consumption demands. Yan Gewen, Chief Strategy Officer of Forbes China Group, delivers a speech at the event   Li Xiaochun, Vice Chairman and President of the Board of Directors of Guojixiang Holding Group Then, it analyzes the development process of the consumer market from another perspective, which is presented in a simple and profound manner. He believes that 'consumption is the starting point of all human desires, and the release of productive forces is the release of human desires; achieving this release through consumption in commerce is conducive to promoting globalization, urbanization, modernization, and democratization of consumption. In the future, a zero marginal cost society based on information interconnection, energy interconnection, intelligent manufacturing interconnection, and logistics interconnection will drive the reconstruction of productive and consumer forces into the 'zero cost era.' At the same time, the alienation of consumers' values will gradually weaken, reflected in consumers' 'real needs' gradually replacing the 'false aspirations' supported by vanity, curiosity, imitation, comparison, etc., with more emphasis on practicality and value.'   So, how can Chinese brands move from 'internet celebrity' to 'longevity in popularity'?   Lu Xiuqiong, Global Partner at Bain & Company She shared a method for transcending cycles: the growth equation of addition, subtraction, multiplication, and division. She suggested that enterprises should return to their consumers' original intentions, anchor on their brand core, and build an capabilities system. While making bold moves, they should concentrate their efforts to expand the business, then enhance user purchasing demand through innovation, find a certain growth path, and quickly replicate to achieve scale.   Adhering to sustainable development and taking environmental protection, fashionability, and health as its own responsibility, OATLY, which entered China in 2018, has integrated 'green development' into its corporate DNA. Zhang Chun, President of OATLY Greater China It is stated that 'OATLY has established a green industrial chain from upstream cultivation, and through a green sustainable development ecosystem, it truly achieves friendliness to the Earth and human health, while also creating a win-win situation for both the enterprise and the brand, truly realizing the brand's 'long-term red prosperity'. At the event site, OATLY launched a family scenario of oat latte - 'OATLY 1 Square Meter Family Café', which reflects the company's focus on the catering and coffee channel in 2024, while also actively exploring high-quality oat milk experiences within family life scenarios.   From a capital perspective, cash flow is the lifeline of an enterprise. Zhang Gaobo, Founder and Executive President of Dripping Irrigation Connect It is believed that China's large consumer market is vast, and the capital gap at physical stores is equally significant. To achieve 'long-term prosperity,' stable cash flow is very important. Enabling different market participants such as intermediary agencies, brand owners, and investors to fully utilize their strengths and empower the micro-economy is also an important manifestation of promoting the development of China's consumer market.     3, China's channel reform How do enterprises build long-term trust and value?   In China's consumer market system, mastering channels is crucial. In recent years, the development of mobile internet has brought about tremendous changes in channels. From online to offline, from new retail to social e-commerce and community group buying, not only have a large number of emerging channel types emerged, but the logic of channel competition is also different from before. Faced with a complex and intricate channel environment, how should enterprises build long-term trust and value relationships with customers? Roundtable Forum: 'How to Build Long-Term Trust and Value under China's Channel Transformation'   Chen Zhengguo, Chairman of Lehle It is indicated that as current consumption trends become more complex, market consumer concepts and habits are changing. Consumers currently pursue ultimate cost-effectiveness. As a snack industry enterprise, Lelue offers snack discounts through a high-quality + low-price model, establishing long-term trust relationships with consumers by offering cost-effectiveness beyond their expectations.   "Running a business is like being a person; you need to have warmth." Shang Xiping, Secretary of the Party Committee and President of Wangfujing Group It indicates that over the past 70 years, Wangfujing has created its own proud corporate cultural value. Each generation has upheld the corporate humanistic value represented by Wangfujing's Zhang Binggui-style service, serving well in relation to the 'people' of employees, partners, and consumers. This has led to the creation of the company's continuous value, creativity, and development capabilities, which are represented by these three 'powers'.   "We believe in win-win cooperation. Although we are a foreign company, we have localized our products in terms of taste and innovation. As a global enterprise, we know where consumers are located and sincerely share consumer profiles with every channel partner. We make a large number of brand investments every year to ensure product sales in small stores." Zhu Yijing, Vice President of Marketing and Development, Yili (China) indicates.     4, Travel through the current cycle, How do enterprises grasp the changes and constants in management and operation?   Roundtable Forum: "Transcending the Current Cycle: The Changes and Constants in Business Management"   Against the backdrop of a 'dual circulation' market, the general environment is driving the consumer industry to 'go global, go deeper into markets, and sell more'. This is a new development trend.   Gao Hongqing, Founding Partner and CEO of Bailian ZhiGao Capital It is stated that 'going global' means exploring new markets overseas, 'digging deeper' refers to tapping into opportunities in niche markets, and 'selling out' means seizing mergers and acquisitions opportunities. At this year's National Two Sessions, 'new quality productivity' has received much attention. This refers to advanced productive forces that play a leading role in innovation, break away from traditional economic growth models and productive force development paths, possess characteristics of high technology, high efficiency, and high quality, and conform to the new development concept. Consumption plays a very important role in economic development. Consumption has been developing and evolving towards high technology, high efficiency, and high quality, and the results are evident.   "The deeper you sink, the better you live." Yang Mingchao, Founder, Chairman and CEO of Potluck Foods It is stated that over the past six years, through walking the streets, going to the countryside, and working in the fields, Kuaishou has been expanding its network across China by deploying stores, products, services, and application solutions in these areas, as well as embedding these efforts into its values.   Regarding "sold out", Gao Tan, President of Prologis Supply Chain It is believed that going global is a luxury for most enterprises. 'Just like when overseas brands first entered China, facing the huge population and complex business culture, enterprises faced numerous challenges. Therefore, currently, companies that are going global with their brands often have significant domestic strength. It is recommended that small and medium-sized enterprises go global through China's e-commerce distribution channels.'   In a complex cycle, with the influx of technological power, how enterprises grasp the changes and constants in management and operations has become a core secret. "I believe what remains unchanged for an enterprise is 'responsibility.' The primary responsibility of an enterprise is to sustain healthy growth; what remains constant in meeting consumer needs is to grasp 'human nature,' while everything else is changing. The most important thing in dealing with change is that enterprises should establish 'systematic innovation capabilities' to cope with all changes." Li Jingjie, Chief Digital and Intelligent Officer of Mengniu Group indicates.   5, Strategic Choices for Enterprises in Domestic Deepening and Overseas Expansion   Roundtable Forum: "Strategic Choices for Domestic Deepening and Overseas Expansion of Enterprises"   An era of significant divergence in the supply chain is upon us, and going global has become a time dividend for the development of Chinese enterprises.   As a model representative of Chinese electric vehicles going global, Yade has been continuously observing the diverse needs and travel habits of different regions and users, conducting targeted research and development, and exploring ways to develop locally overseas. Regarding corporate globalization, Luo Mingzeng, Vice President of Global Marketing at Yadea Three experiences are summarized: First, we must focus on brand going global rather than trade; second, we need to localize operations in key overseas markets; third, we must adhere to compliant operations and management.   What is the core competitiveness of Chinese cross-border e-commerce enterprises? In recent years, at different occasions and locations, Yang Jun, Vice President of Amazon China and Head of Amazon Global Business for Enterprise Shopping in Asia-Pacific This question is often asked. He said: 'The core strengths of Chinese cross-border e-commerce enterprises are agile manufacturing, research and development, and rapid marketing strategies. They quickly innovate products to meet the pain points and unmet needs of consumers in this market that have emerged but not yet been fully satisfied.'   As an expert in fiscal and tax policies, PwC Partner-in-Chief Peng Chao It is recommended that 'each country has a different financial system. Enterprises should gradually achieve financial unification, system integration, and system optimization, while also constantly paying attention to political issues and regulatory changes in each country; they must calculate clearly the fiscal and tax costs, capital return costs, etc., before making investments or mergers.'     6, Heavyweight session: 2024 Forbes China's Annual Consumer Survey Awards Ceremony   As these topics unfold and deepen, we have gained a deeper understanding of the ongoing development of Chinese consumer industry enterprises and the ever-changing trends in domestic and international consumer markets. While the profound insights and forward-thinking of many entrepreneurs and scholars have deeply moved and inspired us, the highlight of this event - the 2024 Forbes China Great Consumer Annual Awards Ceremony - also kicked off under the anticipation and attention of the on-site guests.   The awards for this selection include "2024 Large Consumer Annual Value Enterprise," "2024 Large Consumer Annual Emerging Enterprise," "2024 Large Consumer Annual Influential Chain Brand," "2024 Large Consumer Annual Influential Retailer," "2024 Large Consumer Annual Influential Product," "2024 Large Consumer Annual Digital Service Provider," "2024 Large Consumer Annual Leader," "2024 Large Consumer Annual Investor," and "2024 Large Consumer Annual Investment Institution."   Yan Gewen, Chief Strategy Officer of Forbes China Group; Ye Min, Partner-in-Chief for Consumer Markets in Mainland China; Tang Qingshun, Vice Chairman of the Presidium of the China Cuisine Association; Qu Feng, CEO of the New Business Unit of King Glory Group; Lu Xiuqiong, Global Expert Partner at Bain & Company; Gao Hongqing, Founding Partner and CEO of BAILIAN Capital; Feng Guangsheng, Vice Chairman of the Management Partnership at VentechChina and Vice President of the US Chamber of Commerce in Shanghai; Liu Xu, President of the China Light Industry Enterprise Investment and Development Association; Duan Lian, Editor-in-Chief and Head of Starlink TV; and Liu Tong, Editor-in-Chief of China Food News, presented certificates of honor to the selected corporate representatives and outstanding individuals in succession. Award Ceremony of "Newcomer in the Big Consumer Sector 2024"   Award Ceremony of "Top Influential Chain Brands in the 2024 Consumer Year"   Award Ceremony of "Retailers with Great Influence in the 2024 Consumer Year"   Award Ceremony of "Top Influential Products in the 2024 Consumer Year"   Award Ceremony for "Digital Service Provider of the Year in 2024"   Award Ceremony of "Top 2024 Consumer Value Brands"   Award Ceremony of "Investment Institutions for the 2024 Great Consumption Year"   Award Ceremony for "Investors of the Year in Big Consumer 2024"   Award Ceremony of "Leading Figures in the 2024 Consumer Year"   These selected individuals not only represent the backbone of China's large consumer industry, but their innovative thinking and business development strategies that adapt to the trends of the times will also serve as a reference for other enterprises and leaders in this sector. Forbes China will continue to pay attention to the large consumer sector, hoping to see more and more outstanding enterprises and individuals contribute to the advancement of business in China and even the world with sharper market insight and greater innovative capabilities.     7, Heavyweight session: 2024 Frost & Sullivan China Greater Consumer Annual Awards Ceremony   The awards for this selection include "2024 Large Consumer Annual Investment Institution", "2024 Large Consumer Annual Influential Product", "2024 Large Consumer Annual Emerging Enterprise", and "2024 Large Consumer Annual Influential Chain Brand". This selection has witnessed the prosperity and vitality of the Chinese consumer market. It is not only an acknowledgment and affirmation of outstanding enterprises and products but also an expectation that it can inspire more enterprises to continuously pursue excellence and promote the sustainable and healthy development of China's large consumer industry.   Wang Chenhui, Partner-in-Chief and President of Frost & Sullivan Greater China, Lu Jing, Partner and Managing Director of Frost & Sullivan Greater China, Zhang Jianshe, Partner and Managing Director of Frost & Sullivan Greater China, Weng Huajian, Deputy Mayor of Changning District People's Government in Shanghai, Wang Hang, Founding Partner of HOS Investment, Peng Chao, Managing Partner of PricewaterhouseCoopers, and Wei Junxian, Chairman of the Asia Board of Directors of Dacheng Food, were among the awarding guests who presented awards to the winning enterprises.   Award Ceremony of "Investment Institutions for the 2024 Great Consumption Year"   The awarding ceremony for "Top Influential Products of the Year in Big Consumption, 2024"   Award Ceremony of "Newcomer in the 2024 Big Consumer Year"   Award Ceremony of "2024 Influential Chain Brands in the Greater Consumer Segment"   The grand event of the '2024 Frost & Sullivan China Greater Consumer Annual Awards Ceremony' not only demonstrates the vibrant vitality of the consumer industry but also embodies the wisdom and strength of industry elites. The selection results of the four major lists are a comprehensive recognition of enterprises' innovation capabilities, brand influence, and market potential, as well as a profound insight into the development trends of the industry. Frost & Sullivan looks forward to more enterprises taking this opportunity to continue innovating, striving for excellence, and jointly writing a glorious chapter in the Chinese consumer market.

2024 China's Great Consumption Annual Ceremony 2024 year 3 month 8 Rising China's Corporate Earnings, Frost & Sullivan CXO Co-hosted by the Innovation Center “ 2024 The 'China's Yearly Grand Consumption Event' was successfully held at the Shanghai World Gateway Marriott Hotel, with Forbes providing media special support for this event. Facing the new international and domestic economic situation, against the backdrop of segmented, competitive, disconnected, aggregated, and reconstructed stages as the main threads, this grand event revolves around the theme of 'Braving the Ocean, Deepening Channels, Winning the Future'. Through in-depth analysis by industry leaders and senior experts on China's macro, meso, and micro levels, as well as the overall trends of global and Chinese consumer markets, it timely shares the innovative development concepts of international and domestic food enterprises. It explores the sustainable growth path of China's large consumer market under the new pattern, rejuvenating the industry and brands with new vitality and endowing the development of the large consumer industry with new momentum. At the grand ceremony, 2024 Forbes China's Annual Consumer Survey Awards Ceremony", 2024 The 'Frost & Sullivan China's Top Consumer Brands Annual Awards Ceremony' was grandly held. Wang Chenhui, Partner-in-Chief and President of Frost & Sullivan Greater China, Lu Jing, Partner and Managing Director of Frost & Sullivan Greater China, and Zhang Jianshe, Partner and Managing Director of Frost & Sullivan Greater China, attended the ceremony as awarding guests to present awards to the winning enterprises.   This time, 2024 The 'Frost & Sullivan China Large Consumer Annual Selection Awards Ceremony' selected “ 2024 Large Consumer Annual Investment Institutions" 2024 Top Consumer Influencer Brands of the Year" 2024 Leading Newcomer in the Big Consumer Segment for the Year" 2024 The 'Four Major Lists of Influential Chain Brands in the Year of Big Consumption'. This selection has witnessed the prosperity and vitality of China's consumer market. It is not only an acknowledgment and affirmation of outstanding enterprises and products, but also an expectation to inspire more enterprises to continuously pursue excellence and promote the sustained and healthy development of China's big consumption industry.     2024 Large Consumer Annual Investment Institution   Wang Chenhui, Partner-in-Chief and President of Frost & Sullivan Greater China, and Weng Huajian, Deputy Mayor of Changning District People's Government in Shanghai, jointly unveiled the “   2024 Award Ceremony for Large Consumer-oriented Investment Institutions"     2024 Top Consumer-Growing Product of the Year   Zhang Jian, Partner and Managing Director of Frost & Sullivan Greater China, and Wang Hangwei, Founding Partner of HOSINVEST, were “   2024 Awarding of the "Top Consumer-Growing Product of the Year"     2024 Newcomer in the Big Consumer Sector for the Year   Wang Chenhui, Partner-in-Chief and President of Frost & Sullivan Greater China, and Peng Chao, Partner-in-Chief of PwC Greater China, jointly presented “   2024 Award Ceremony for Newcomer Enterprises in the 'Big Consumer' Sector     2024 Top consumer-growth annual influencer chain brand   Mr. Lu Jing, Partner and Managing Director of Frost & Sullivan Greater China, and Mr. Wei Junxian, Chairman of the Asia Board of Directors at C&C Foods, jointly presented “   2024 Awarding of the 'Top Consumer-Driven Chain Brands of the Year' This time, 2024 The grand event of the 'Frost & Sullivan China's Leading Consumer Brands Annual Awards' not only demonstrates the vibrant vitality of the consumer industry but also embodies the wisdom and strength of industry elites. The selection results of the four major lists are a comprehensive recognition of a company's innovation capabilities, brand influence, and market potential, as well as a profound insight into the industry's development trends. Frost & Sullivan looks forward to more companies taking this as an opportunity to continue innovating, striving for excellence, and jointly writing a glorious chapter for China's consumer market.

2024 year 3 month 7 Today, Frost & Sullivan Frost & Sullivan Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan's Greater China Region, was invited by Mr. Fan Renda, Founder and Chairman of the Hong Kong Independent Non-executive Directors Association and President of the Asia Independent Non-executive Directors Association, to attend a special seminar for members of the Hong Kong Independent Non-executive Directors Association and delivered a keynote speech on 'Frost & Sullivan Empowering Corporate Market Capitalization Management'. Dr. Wang Xin, Global Partner at Frost & Sullivan and Chairman of the Greater China Region (centre), and Mr. Fan Renda, Founding President of the Hong Kong Independent Non-executive Directors Association and Chairman of the Asia Independent Non-executive Directors Association (right). Global Partner and Chairman of Frost & Sullivan Greater China Region Dr. Wang Xin Frost & Sullivan has unique advantages in empowering corporate market value management. It not only possesses widely recognized research methods in the capital market, vast industry research data, rich service experience and successful cases, but also has the best knowledge platform and communication window in the field of investment and financing. What Frost & Sullivan provides is a comprehensive solution that enhances corporate attention by deeply analyzing the core values of enterprises, effectively expands industry influence, and comprehensively helps improve brand value. It can fully serve listed companies to achieve value management goals, shape investors' positive expectations for the future of enterprises, and maximize corporate value in the minds of investors. Market value management cannot be separated from industry insights and prospect analysis Over the past decade, the development of biotech companies in China has essentially been like crossing a river by feeling the stones. The rapid market explosion began with 2018 Released by the Hong Kong Stock Exchange 18A chapter, in Biotech Enterprise as an example, 2018 Second half of the year 21 First half of the year Biotech Enterprise-intensive IPO listing However, a Biotech It takes an average of two years for a company to go public on the Hong Kong Stock Exchange and for its first product to be launched; it takes an average of 3~5 year; currently exceeds 85% of Biotech Listed companies are still in a state of loss. In other words, a large number of listed and pre-listed companies still have a long way to go before becoming giants in biotechnology. since 2022 Since the first half of the year, there have been certain fluctuations in global and Chinese capital markets. As of 2023 year 8 month 31 day, 43 Hong Kong stocks 18A Among unprofitable biopharmaceutical companies, there are 26 The company released its semi-annual report; according to 2023 The level of 'three expenses' disclosed in the interim report, as well as the total amount of cash and cash equivalents currently held by the enterprise 26 There may be 9 Enterprises cannot sustain 2 year, but also 6 Enterprises can maintain 5 For more than a year. Some companies have even had to consider shutting down some promising pipelines and even selling off their core products. In this regard, Dr. Wang Xin pointed out, 'Entrepreneurs in the biotech field need to rely on scientific evidence, conduct systematic preliminary research, and choose to enter after fully competing with the market, rather than making blind investments; for investors, to find more certain investment opportunities, they need to conduct long-term and continuous in-depth research on the technological trends, policy changes, and industry dynamics of the biotech field, and keenly capture market fluctuations. Both of these tasks have high thresholds, but professional matters should be left to professionals. Frost & Sullivan is always keeping an eye on the development trends of the capital market, not only with rich industry research data but also with real-time transaction data, which can help entrepreneurs and investors solve these pain points and dilemmas. For example, to depict 18A We have compiled the Frost & Sullivan Select Biotechnology Index Series, which includes the Frost & Sullivan Select Biotechnology Index. 30 Combined with Frost & Sullivan Jielvy Biotechnology, it continuously provides important references for the capital market. ” "Entrepreneurs in the biotech circle mostly come from a scientific background," Dr. Wang Xin further stated, "Scientists must cultivate entrepreneurial spirit, and entrepreneurs must also possess scientific literacy. In addition, in the face of inevitable industry cycles, everyone should maintain a sportsman's spirit, forge ahead persistently, and wait for the right moment to act." The essence of the entrepreneurial, scientific and sportsman spirit is applicable across all industries, including the consulting industry itself, and has also become the 'motto' for Frost & Sullivan's ongoing renewal. In the Frost & Sullivan enabled value chain, 'professionalism' is just one of the 'cornerstones' of its industry and enterprise value discovery capabilities. 2018 Investment starting from the year AI The research's forward-looking 'Innovation' has enabled Frost & Sullivan to successfully complete its digital transformation and become a model of technological innovation in the knowledge service industry. Dr. Wang Xin highlighted and introduced at the seminar the multi-modal search engine and entry database for original industry research content, jointly built by Frost & Sullivan and LeadLeo—LeadLeo entries. The LeadLeo entry catalog is based on global industry classification standards, international standard industry classification systems, CSRC industry guidelines, and other standards. Its structure relies on a five-level industry catalog design, with a total volume exceeding 10 ten thousand + industry entry 500 ten thousand + Original data, from concept level to product level, ensuring vertical industry-specific research coverage, which can be covered 95% The demand scenarios for industry research from the business, investment, and education training sectors mentioned above. AI The auxiliary creation of entry reports has strong scalability and timeliness, allowing investors to see a more comprehensive and dynamic view of listed companies. Currently, nearly 100 With tens of thousands of data elements, LeadLeo has hundreds of entry-level data applications, covering tens of thousands of enterprises. One of the buzzwords at this year's Two Sessions - —&mdquo; Artificial Intelligence + "Taking ” as an example, as of 2024 year 2 In January, LeadLeo already covered the entire AI industry chain, including upstream, midstream, and downstream 1,730 This original research report. 2023 In [year], Frost & Sullivan and LeadLeo have published over a thousand professional reports, covering industries such as healthcare and biotechnology, technology and artificial intelligence, finance and investment, carbon neutrality and new energy, manufacturing and industry, automotive and transportation equipment, consumer retail, culture and entertainment, etc. They provide clients with industry information, industry trends, and development changes in their respective sectors, solve industry-related problems for corporate clients and investors, offer guiding opinions, and help clients enhance market value. Adequate and in-depth industry insight has laid the foundation for Frost & Sullivan's market influence and data authority. Since the establishment of the Market Positioning System by Frost & Sullivan, it has provided 500 The enterprise provides market position confirmation and brand valuation services, conducting research, evaluation, and proof of their competitive advantages and influence in the market. It helps enterprises enhance their brand image, boost market trust, expand market share, increase revenue, and profits, continuously supporting a large number of Chinese brands on their journey to growth. High-quality content cannot be separated from precise dissemination. As a key component of value management empowerment, Frost & Sullivan has jointly built diversified and precise communication channels with strategic partners such as LeadLeo and cloud technology, and has already connected with nearly 100 The leading financial terminals, databases, think tanks, media, associations and roadshow platforms have reached in-depth content cooperation. Frost & Sullivan and LeadLeo have over across the entire network. 35 A fan base composed of investors, entrepreneurs, analysts, and media professionals. According to incomplete statistics, hundreds of companies are planning to go public or A LeadingLeo data and views are extensively cited by listed companies on their information disclosure materials. Among them, the proportion is significant for ChiNext companies. 39% Proportion of Sci-tech Innovation Board 17% Proportion of Main Board Stocks on the Shenzhen Stock Exchange 17% Proportion of Main Board in Shanghai Stock Market 11% In addition, LeadLeo's selected reports are published on the world-famous financial information platform Refinitiv ( Refinitiv It is widely included and continuously helps Chinese enterprises attract investment and empower their development by gaining the attention of domestic and international investment institutions. Dr. Wang Xin highlighted the Frost & Sullivan Summit to all participating members. The Frost & Sullivan Summit is held globally in more than 20 Countries and regions, with nearly 30 The event's history spanning over a decade has attracted a large global audience 1000 Strong companies, top domestic and international financial institutions, and other leading enterprises are deeply involved, helping them identify opportunities, continuously innovate, accelerate growth, and gain leadership in an increasingly complex and dynamic world. 2008 Since its inception in China in 2017, the Frost & Sullivan Summit has been held for the seventeenth time, with over 10,000 Footfall. 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 explore development directions. It is also an important window for the world to understand China's most cutting-edge development trends. 2023 year 9 At the end of the month, Frost & Sullivan successfully held its second New Investment Expo and the 17th Frost & Sullivan Global Growth, Innovation and Leadership Summit. The conference was chaired by 1 Opening Ceremony and General Meeting 7 Parallel forums on specific topics, and 1 The session continues 2 The expo's composition included topics covering biotech investment, new consumption and food and beverage industry investment, digital economy and industrial integration, high-quality development of listed companies, new investment, new energy, carbon neutrality and high-end manufacturing. The related topics sparked heated discussions among people from all walks of life and were widely reported and disseminated by authoritative domestic and international media. The conference was successfully held and achieved fruitful results, demonstrating the vitality of Chinese enterprises and the potential of industries to the world, and was also positively evaluated by all participants. The conference brought together nearly 150 Industry leaders at home and abroad, super 50 Home exhibitors and roadshow projects, attracting 3,000 Multiple professional audiences participated, and online live broadcast received over 100 Ten thousand, total media exposure 108 Hundreds of millions, an unprecedented grand occasion, and great success. 2024 year 8 In January, the Frost & Sullivan Summit will be held once again in China and upgraded further. It will also invite more listed companies as industry leaders to participate. "Hong Kong is an important bridge for multinational companies to deeply penetrate the Chinese mainland market, and it is also an ideal platform for Chinese companies to 'go global' and explore international markets. At this year's summit, it is expected that the Hong Kong Independent Non-executive Directors Association will also play an important cooperative role," said Dr. Wang Xin. The comprehensive solution secures the enablement of market value management 2014 till 2023 In [year], Frost & Sullivan retained its leading position as the industry research advisor with the largest market share for Chinese companies going public in Hong Kong. In terms of the number of projects, Frost & Sullivan accounted for 2023 Hong Kong stocks for the year IPO listing Proportion of market share 80% (Frost & Sullivan does not include carve-outs and reverse mergers.) Since providing investment banking and advisory services to corporate leaders and their management teams, Frost & Sullivan has helped nearly a thousand companies successfully list on the Hong Kong and overseas stock exchanges. According to Live Report Big data statistics, in the past 36 In the first half of the month, there were a total of 143 Leading companies choose Frost & Sullivan to advise them on Hong Kong stock listings IPO listing Industry consultant. These achievements have made Hong Kong remember Frost & Sullivan, a global growth consulting firm, but what Frost & Sullivan can do is far more than that. since 2019 year 7 Since the listing of the first batch of companies on the Sci-tech Innovation Board, Frost & Sullivan reports have also been widely cited in the prospectuses of leading Sci-tech Innovation Board-listed companies in the industry. As one of the most powerful, professional and influential comprehensive industry research institutions in the industry, in recent years, Frost & Sullivan's business has been continuously diversifying, its services have extended to the entire life cycle of enterprises, and its organization as a whole has undergone digital transformation. Dr. Wang Xin said that in the future, Frost & Sullivan will continue to actively apply the pioneering 'Full-Scenario Investment Management ( TIM , Total Investment Management "New concepts, new models, and full play 5R (in other words PR Public Relations, IR Investor Relations GR government relations AR Analyst relations VR Value relationship) management advantages, helping enterprises position themselves and enhance value, telling the capital market story well, achieving efficient communication with investment institutions, investors, industry-related parties, stakeholders, etc. This is to assist Chinese enterprises in actively exploring the path of sustainable development, jointly promoting the high-quality development of listed companies, creating long-term value for the country and society, and contributing to building a trustworthy and sustainable beautiful business world.   Recommended Reading   1 Joint release by Frost & Sullivan, TradeGo and LeadLeo of 2023 Hong Kong stocks for the year 18A& Blue Book on the Development of the Biotechnology Industry in the Sci-tech Innovation Board 2 , 2023 Frost & Sullivan Annual Review — Frost & Sullivan's New Investment Conference 3 , LeadLeo was invited CCTV Station Exclusive Interview with "The Road to Innovation" Dialogue with CCTV host Zhu Xun   About the Hong Kong Independent Non-executive Directors Association   Hong Kong Independent Non-executive Directors Association (HKiNEDA) It is an institution established in Hong Kong according to the Company Law, representing independent non-executive directors from across the Greater China region. The association takes Hong Kong as its foundation and connects with independent non-executive directors from both sides of the Taiwan Strait and the three regions, aiming to contribute to the vast financial capital market of the Greater China region. The purpose of the Hong Kong Independent Non-executive Directors Association is to assist in the professional development of independent non-executive directors, promote healthy and excellent corporate governance in listed companies, and facilitate the sustainable development of the capital market in Greater China. To achieve its mission, the association will strive to help independent non-executive directors understand their responsibilities in listed companies, encourage them to play their roles, reflect value, and support independent non-executive directors in monitoring and fulfilling their responsibilities to the company with an independent, honest and fair attitude.

2024 China Foodservice Industry Annual Conference 2024 year 2 month 26 day -28 On the day, initiated and hosted by the food industry, co-hosted by Ande ZhiLian, and co-organized by Huatang Yunshang, Food Industry Headlines, and Midea's Commercial Cold Chain Strategy, “ 2024 The 'China Food Industry Leaders Annual Conference' was grandly held in Foshan. The annual China Food Industry Leaders Annual Conference is a premier event for the food industry at the beginning of the year, a high-end forum where food entrepreneurs gather, and also a predictive summit for the annual trend trends. The 2024 China Food Industry Annual Conference is centered around the theme 'Finding an Ecological Niche', focusing on 'Economic Recovery and New Circulation', 'Cost-effective Food Trends', 'Category Franchising Growth', 'Consumer Differentiation', 'Promoting Agriculture to Food', AI Floor-to-ceiling food service scenarios", etc. 30+ The core topic guides the future direction and plans new strategies. Over the three-day period, the organizing committee also held several specialized forums such as the Overseas Expansion Forum and the Supply Chain Forum, providing a wealth of exchange and learning opportunities for the participants. This annual conference has invited authoritative entrepreneur leaders, representatives of emerging brands, well-known economists, and industry chain service experts. 300 Industry leaders gathered together to conduct in-depth discussions on the theme of the annual conference. They jointly analyzed the development trends of industries, the core principles and future directions of enterprise development, offered strategies for industrial innovation and development, and sought solutions to navigate the economic maze towards a commercial future.   Frost & Sullivan Frost & Sullivan Mr. Zhang Jian, Partner and Managing Director of Frost & Sullivan's Greater China Region, was invited to attend the event. With the theme of "Consumption: 'More and More Precise Spending'", he 2024 Zhang Jian stated that the improvement in upstream supply chain efficiency, along with more rational planning and astute choices by downstream consumers, has led to the coexistence of consumption upgrading and consumption degradation. Partner and Managing Director of Frost & Sullivan Greater China Region Zhang Jian   Zhang Jian pointed out that from the perspective of macroeconomic conditions, China's economic development is undergoing a period of structural changes, evolving from a high-speed growth and dividend-generating phase to a phase of high-quality development and stable growth. Structural changes such as low fertility and population aging are putting pressure on economic development. After the pandemic, the national economy has recovered in an orderly manner, and the prelude to a 'new cycle' has begun. Per capita consumption and disposable income among residents have gradually recovered from the severe blow of the pandemic. 2023 Per capita disposable income of residents across the country 39,218 Yuan, nominal growth compared with the previous year 6.3% , after deducting price factors, actual growth 6.1% , as compared to 2022 Real annual growth rate 2.9% , there is an obvious improvement; 2023 In [year], per capita consumption expenditure of residents across the country was compared with 2022 Significant improvement was made in the year, for 26,796 Yuan, nominal growth compared with the previous year 9.2% Actual growth after deducting the impact of price factors 9.0% . 2022 After the New Year, residents' expectations for future income and consumption intentions both declined. This was mainly due to various factors such as pessimistic sentiment caused by the pandemic, and deep adjustments in the real estate sector, which hit residents' confidence and willingness to consume. The pursuit of 'pragmatism' in product selection and lifestyle has become the main consumption trend among consumers after the pandemic. Source: Analysis by Frost & Sullivan Despite the recent slowdown in economic development and the impact on consumer confidence, the Chinese economy still demonstrates strong resilience, which helps consumers build a cautious but optimistic sentiment.   "The current Chinese consumer market has shown characteristics of the fourth consumption era, with consumption trends returning to simplicity and pragmatism. At the same time, the standardization, industrialization, and automation of the consumer industry continue to improve," said Zhang Jian. Source: Analysis by Frost & Sullivan From the perspective of consumer profiles, consumers' consumption concepts are gradually shifting towards pursuing high cost-effectiveness. The overall consumption level has decreased, conspicuous consumption has reduced, and the proportion of practical consumption has increased. Consumers are pursuing more rational planning and more astute choices. Consumption upgrades and downgrades coexist, with increased sensitivity to prices and a stronger trend towards rational consumption.   Speaking about the growth drivers of the consumer industry under the new situation, Zhang Jian said that the millennials, Z The identified growth of segmented consumer groups across generations and the continued expansion of the middle class serve as growth engines for many consumer goods.   In addition to population "deflation" and accelerating aging, born in 1982 - 2009 The 'millennium' of 1995 - 2009 Year's “ Z Generations" The proportion of the population that makes up the total population is about 37% future 20 The average annual growth will be steady and rise, and in 2060 Around 40% At the same time, China has the largest number of newly emerging middle-class families in the world. The continuous increase in upper-middle-income consumers will be the biggest driving force for China's consumption growth.   Meanwhile, the importance of Chinese brands in consumers' lives is increasing.   In recent years, Chinese brands in multiple fields have gained the favor of consumers. 2023 year, 79.9% Consumers of Chinese brands increased, exceeding 2020 year 73.3% Consumers of all age groups have seen a significant increase in their consumption of Chinese brands. With the enhancement of comprehensive national strength, Chinese brands are constantly pursuing innovation, focusing on quality upgrades, and strengthening the promotion of brand stories. 'Made in China' has shed its prejudice, not only being 'affordable', but also 'of high quality'. Chinese people are now willing to cast their 'trust' votes. The shift in consumer attitudes is driving the growth of local Chinese brands, with domestic enterprises winning the market. For the vast majority of consumers, Chinese brands have become their first choice in their hearts.   In addition, 'replacement products' are gradually becoming popular. Consumers are beginning to focus on cost-effectiveness, with 'products being the most fundamental hard power'. Considering consumers' real needs and creating high-quality products are new growth paths for the consumer industry. Subsequently, Zhang Jianjian looked ahead to the new scenario application trends in the fields of catering, beverages, tourism, and digitization. Zhang Jian stated that the catering industry generally can warm up faster during economic recovery periods and counteract the impact of economic downturns, demonstrating strong resilience and faster market recovery capabilities. It is one of the consumer industries with the most moat effect. China has become the world's second-largest catering market, with a catering scale second only to that of the United States. Compared to overseas countries, China's overall catering chain rate and market concentration are still at relatively low levels. In the future   Leading enterprise   There is great potential for development. Source: Analysis by Frost & Sullivan Data shows that the market scale of new tea drinks in China has changed from 2017 year 422 RMB billion growth to 2022 year 1,040 Yuan, with an annual compound growth rate of 20% The penetration rate has increased rapidly, 2022 The penetration rate of the new year's tea drink target customer group exceeds 40% New tea drinks 2022 The year is in the first half of the industry's mature development phase. Overall, the penetration rate of target customers exceeds 40%, both the number of stores and market scale growth have slowed down, the supply chain has begun to take shape, third- and fourth-tier cities have basically completed their layout, the market tends towards 'maturity', and there is still room for further penetration; looking at per capita store count and per capita caffeine intake, new tea drinks are still in the market formation stage. Source: China Chain Operation Association 2022 'Trends in New Tea Drinks: A Report by Frost & Sullivan' In the post-pandemic era, tourism has 'rejuvenated' and burst back with new vitality. 2023 Number of domestic outbound travel trips in 48.91 Yi, an increase compared with the same period last year 23.61 1000 million, a year-on-year increase 93.3% . 2023 Domestic tourism revenue (total travel expenditure) 4.91 trillion yuan, an increase compared with the previous year 2.87 trillion yuan, a year-on-year increase 140.3% The growth rate has increased significantly, reversing the situation since 2020 The downturn since last year, compared 2019 Recovered to 81% and 86% Tourist demand shows a diversified, personalized, and quality-oriented multi-level trend, driving creative enhancement and innovative development of tourism scenarios, products, and services. This is also a significant characteristic and long-term trend in the comprehensive development stage of mass tourism. Source: Ministry of Culture and Tourism, analysis by Frost & Sullivan Chinese digital consumers are creating massive data pools, placing greater emphasis on the good consumer experience brought about by technological leaps. Digital service providers penetrate every link of the industry, reconstructing the underlying logic of the consumer goods industry. The intelligent unmanned factories in the product supply link seamlessly connect with consumers to co-create products; the fully empowered channel distribution link unblocks various channels, achieving seamless integration; the brand marketing link achieves precise insights into user behavior preferences, realizing intelligent user operations; the sales link creates a standardized retail service system, realizing intelligent recommendations and services; consumers, through digital tools and platforms, achieve information symmetry and upgrade their professionalism, realizing co-creation with brands. Source: Analysis by Frost & Sullivan