Eastern US Time 2 month 21 Today, NVIDIA released 2024 The results of the fourth fiscal quarter of the fiscal year show that both total revenue and data center revenue within the quarter reached record highs. 2024 FY revenue has also been achieved 609 Record $10.2 billion performance. The financial report shows that NVIDIA's revenue for the fourth fiscal quarter 221 billions, month-on-month growth 22% A sharp year-on-year increase 265% Net profit 123 billions of dollars, a sharp year-on-year increase 765% Recently, there have been reports indicating that, amidst existing strengths GPU Beyond the field, NVIDIA is preparing to enter ASIC Domain competition with BOTT. GPU enter ASIC Is there a significant threshold in the field? What does NVIDIA's new move mean? Amid the strong demand for large models, GPU besides TPU , LPU Does the rise of these routes mean new possibilities for high-speed computing chips? What are the advantages and disadvantages of these routes?     Frost & Sullivan Frost & Sullivan Mr. Lu Jing, Partner and Managing Director of Frost & Sullivan's Greater China Region, was interviewed 21 Century Economic Report interviews were conducted to jointly discuss the aforementioned topics.   21 Century Economic Report   * Click on the end of the article to read the original text and view the complete report.     Q :    Recently, there have been reports indicating that, in addition to existing strengths GPU Beyond the field, NVIDIA is preparing to enter ASIC Domain and Broadcom competition. What's your take on it from GPU enter ASIC Are there significant barriers in the field? What does NVIDIA's new move mean? For the implementation of artificial intelligence, algorithms are at the core, and computation and data are the foundation. In terms of computing power, the main method currently used is GPU Parallel computing neural networks, at the same time, ASIC It has also gradually become a more popular choice in recent years. ASIC (Application Specific Integrated Circuits Special-purpose integrated circuit ) Integrated circuits refer to integrated circuits that are designed and manufactured according to specific user requirements or the needs of specific electronic systems. ASIC As a product of the close integration of integrated circuit technology with the overall machine or system technology of specific users, compared to general-purpose integrated circuits, it has advantages such as smaller size, lower power consumption, improved reliability, enhanced performance, increased confidentiality, and reduced cost. Unlike GPU and FPGA flexibility, customized ASIC Once manufactured, it cannot be changed, which makes the entry threshold high due to the high initial cost and long development cycle. NVIDIA, as a globally dominant AI chip designer and supplier, is preparing to enter ASIC The domain aims to capture a portion of the explosive market for custom AI chips and protect itself from an increasing number of companies seeking to replace its products. NVIDIA to ASIC The entry into this field is likely to erode Bortronics and Maimian ASIC Market share in the field.     Q :    NVIDIA has also recently launched Chat With RTX , which seems to be mainly targeted at AI PC A product on the app market. It seems that NVIDIA has been relatively quiet in making moves towards the application side for some time. What do you think of NVIDIA's new move this time? Chat With RTX It's a personalized AI Chatbot, which can be PC Run locally to process videos, analyze files, and provide users with relevant answers based on their own data. since ChatGPT After the fire, OpenAI Founder Sam Altman is planning to raise a significant amount of capital AI The chip industry aims to solve AI The supply and demand issue of chips. NVIDIA's new move this time is a concrete response to its role as AI Pioneers in the chip industry, with expertise in the field of large models, will adopt a strategic layout combining software and hardware. AI market     Q :    A fresh face lately Groq Emerging from nowhere, adopting LPU The way and GPU Competes in computing models, reportedly leveraging SRAM rather than HBM Makes computing very fast. Based on the information released so far, what do you think is the future of large models under strong demand? GPU besides TPU , LPU Does the rise of emerging routes mean new possibilities for high-speed computing chips? What are the advantages and disadvantages among these routes?   Groq of LPU （ Language Processing Unit ) can bring higher computing speed while consuming less power. Setting aside the accuracy factor of the model, LPU The computing speed in specific domains is currently widely GPU Compared to being able to be fast 10 More than times. LPU , TPU The rise of high-speed computing chips means AI The implementation of large models will be further accelerated. TPU , LPU and GPU The biggest difference is their architecture and application domain. GPU Suitable for general computing tasks, it has parallel computing capabilities and a large-scale program cache, such as in graphics rendering, physical simulation, and numerical computation. LPU and TPU Focusing on the acceleration of deep learning and machine learning applications, it offers lower power consumption in specific domains. Users can choose the appropriate processor based on different computing task requirements to improve computing performance and efficiency. Considering the comprehensive cost factors of actual operation, it offers stronger general performance. GPU It remains the preferred choice for training large models.     Q :    More and more large model vendors (such as Google, Microsoft, OpenAI (Optional) selection / Consider preparing for self-developed solutions AI Chip, plus the old rival AMD The tiger is eyeing covetously. Do you think this could accelerate a change in NVIDIA's dominant position (for example, towards a one-supremacy, multiple-strongholds scenario)? If not, what are the main constraints?   The explosion of large models has propelled NVIDIA to become the most discussed topic today AI Chip companies have also seen new highs in revenue and net profit disclosed in their annual reports. However, as AI The craze continues to heat up, and more and more large models are starting to AI The chip industry is making efforts to break free from NVIDIA's supply constraints as soon as possible. Large model vendors want to AI The volume of operations has increased significantly, requiring the support of proprietary chips to achieve optimal R&D efficiency. Therefore, more and more large model manufacturers are choosing to develop their own chips. AI chip. On the other hand, AMD Also 23 year 12 Launched in January AI Chip, embarking on a head-on competition with NVIDIA. However, these manufacturers cannot shake NVIDIA's dominant position in the short term. Firstly, NVIDIA has an undisputed first-mover advantage and rich industry experience; its chips have been widely used in major model manufacturers. Secondly, NVIDIA has built a comprehensive CUDA ecology, CUDA It is based on the launch of NVIDIA GPU The parallel computing platform and programming model can be used to accelerate large-scale data parallel computing, enabling GPU Can be used in a wider range of scientific computing and engineering computing fields. After years of development, NVIDIA's CUDA already has 400 Ten thousand developers have essentially formed an ecological barrier that is monopolistic. The software ecosystem is precisely the product competition element that downstream customers attach the most importance to. If one rashly changes the ecosystem, it means that manufacturers will incur increased learning costs, trial-and-error costs, and debugging costs. Moreover, NVIDIA has further consolidated its moat through investment. 2023 Since the beginning of this year, NVIDIA has invested in more than twenty companies, ranging from large-scale new artificial intelligence platforms worth billions to small startups applying AI to industries such as healthcare or energy, all of which have formed close connections with NVIDIA. For large model companies' self-developed chips, the most critical bottleneck lies in the inability to resolve supply chain issues in the short term. The production capacity of foundries and wafer fabs is already saturated. Considering comprehensive costs, self-development AI It is not necessarily more advantageous to purchase chips externally. AMD of AI Chip, NVIDIA's AI The chip is more suited to potential customers with abundant funds and high performance requirements. In the short term, NVIDIA CUDA The ecosystem remains robust, and most users who need training chips still choose NVIDIA. *   This interview was published in 21 Finance and Economics    The reporter is Luo Yiqi, and the original title is:   NVIDIA's All-Out Offensive: Record-breaking Performance, Hardware and Software Collaborations | GAI Evolutionary Theory ⑤

According to the official website of the Hong Kong Stock Exchange, as of 2 month 22 days, within the year 28 Enterprises submitted their prospectuses to the Hong Kong Stock Exchange. Among them, 1 Months exist 14 home, 2 The same goes for the month to date 14 home. In addition, as of 2 month 22 Today, the number of listing applications under processing at the Hong Kong Stock Exchange is 68 clan   Looking at the locations of listed companies on the platform, all are from the Chinese mainland. Is this related to the acceleration of overseas listing filings? A Stage of shares IPO listing Is it related to factors such as tightening and the expectation of the Federal Reserve cutting interest rates? The Hong Kong Stock Exchange is increasingly becoming a haven for mainland unicorn enterprises. 2024 Hong Kong stocks for the year IPO listing What new trends will the market exhibit?     Frost & Sullivan Frost & Sullivan Lu Jing, Partner and Managing Director of Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), was interviewed by Securities Daily, focusing on the development of the Hong Kong stock market.   . Securities Daily   * Click on the end of the article to read the original text and view the complete report.     Q :        Since the beginning of this year, mainland companies have accelerated their pace of filing with the Hong Kong stock exchange. Some believe this may be due to the acceleration of overseas listing filings A Stage of shares IPO listing Weakening, expectations of the Fed's interest rate cuts, etc. What do you think? The phenomenon of mainland enterprises accelerating their listing in Hong Kong is mainly due to the acceleration of overseas listing filings, changes in the global and Chinese market environment, and this year A share IPO listing The phased tightening is related to factors such as the official implementation of the 'Interim Measures for the Administration of Overseas Issuance and Listing of Securities by Domestic Enterprises' and its five regulatory application guidelines. With the implementation of these measures, the approval speed for overseas listing filings of enterprises going public in Hong Kong has significantly increased, and the filing cycle for Chinese companies' overseas listings has been greatly shortened. Secondly, the gradual increase in expectations for the Federal Reserve's interest rate cuts has prompted more global funds to flow into Hong Kong stocks, further accelerating the Hong Kong market IPO listing Processes. At the same time, the improvement in the national economic fundamentals has increased the likelihood of mainland enterprises successfully listing in Hong Kong and enhanced investors' confidence in the profitability and growth prospects of enterprises. In addition, 2023 Since the second half of the year, the China Securities Regulatory Commission (CSRC) has issued circulars and guidelines, focusing on phased tightening IPO listing The arrangement continues to slow down A share IPO listing The number has led more enterprises, especially those in the biotech industry that are not profitable or are still in the R&D phase without generating revenue, to consider going public overseas. Affected by this series of factors, the number of mainland enterprises submitting their listing applications to the Hong Kong stock market has increased significantly this year, which will help promote the recovery of the Hong Kong stock market and demonstrate its greater development potential.     Q :    The Hong Kong Stock Exchange is increasingly becoming a haven for mainland unicorn enterprises. Against this backdrop, what do you think 2024 Hong Kong stocks for the year IPO listing What new trends will the market exhibit? Affected by various factors such as the reopening of the economy due to pandemic policies, the expectation of the Federal Reserve's interest rate cuts, and the recovery of the domestic economy, the Hong Kong stock market has continuously attracted mainland enterprises. Mainland enterprises in Hong Kong IPO listing The market share continues to rise. This helps to strengthen the overall scale and quality of Hong Kong's capital market, enhance market liquidity, increase the overall weight of Hong Kong stocks in international indices, and further consolidate Hong Kong stocks. IPO listing Market competitiveness and attractiveness. Against this backdrop, the Hong Kong Stock Exchange will actively cooperate with mainland exchanges and relevant regulatory authorities to expedite the approval process for enterprises listing in Hong Kong, promote more high-quality mainland enterprises to list there, and facilitate the interconnection of capital markets between the two places. Among them, potential or emerging unicorn companies in new-generation information technology, biotechnology, new energy, etc., show high growth potential, which will attract more investor interest and inject new vitality into the Hong Kong capital market. *   This interview was published in Securities Daily    Reporters: Su Shiyu, Mao Yirong. Original title:   within the year 28 Domestic enterprises submit applications for listing on the Hong Kong stock market IPO listing Most in the high-tech field

2024 year 2 month 21 Today, Zhitong 3000 2024 The Global Partners Conference was held at the International Expo Center in Jianye District, Nanjing, China. It brought together leading domestic and international enterprises, industry representatives, financial institutions, association think tanks, partners, government authorities, and representatives of important entrepreneurs. 1,000 bits, total 1,500 The remaining guests gathered together to discuss “Digital + Finance", "Data + Computing power ” explores new technologies and models for the development of smart logistics, aiming to help China reduce the overall logistics costs of society, and build a modern logistics system that is supply-demand compatible, internally and externally connected, safe, efficient, smart, and green.   Frost & Sullivan Frost & Sullivan Wang Chenhui, Partner-in-Chief and President of Frost & Sullivan Greater China, was invited to attend the conference. He signed a capital strategic cooperation agreement on behalf of Frost & Sullivan with Zhitong 3000 at the event and participated in “Digital Intelligence for a Green Transportation Future in a Strong Country The "Capital Empowering Smart Connectivity: Three Thousand ” Capital Industry Forum engaged in lively discussions with Wang Zhongkun, Chairman of China International Group, Zhu Ke, Global Partner of Mays Law Firm, Guo Fuyan, Partner of EY, and Li Liujie, Partner of Jingtian Gongcheng Law Firm. Capital Strategic Cooperation Signing Ceremony Managing Partner and President of Frost & Sullivan Greater China Region Wang Chenhui "   Q :   What do you think are the disruptions and opportunities brought about by the current digital transformation and upgrading to the market and industry?   Wang Chenhui:   The widespread application of digital technology has made the operation of the entire logistics industry more intelligent and efficient. Empowered by digital technology, logistics enterprises can achieve real-time monitoring and refined management of various links such as transportation and distribution, improving the operational efficiency and response speed of the entire supply chain. At the same time, by building digital platforms, it is also possible to promote the green development of the logistics industry and transform it towards a more environmentally friendly and sustainable direction. For example, by using technologies such as the Internet of Things and big data, optimizing logistics transportation routes, developing multimodal transport, improving transportation efficiency, reducing energy consumption and carbon footprint, and so on. "   Q :   As is well known, Frost & Sullivan, as the industry advisor with the highest market share, possesses very rich data and an advanced research system across various industries. Could you please introduce to us the types and characteristics of participants in the smart logistics industry?   Wang Chenhui:   Logistics warehousing and logistics transportation are the two cornerstones of new infrastructure for logistics. Currently, China's warehousing industry has developed quite maturely. From the perspective of industry development, future innovative smart logistics capacity resources services will become the new core growth driver of the industry. With technological empowerment and policy support, the market scale of future transportation capacity platforms is expected to exceed one trillion. Logistics transportation capacity services are not a new concept. In terms of business forms, there are two types of players in the industry. One category is vertical players, who either focus on providing capacity scheduling services to match supply and demand between cargo providers and transportation logistics providers (logistics companies or individual drivers), or on services related to the supply chain, such as financial and tax services, or enterprise tools. Another type is the comprehensive player, which takes the transportation platform as its core business and extends supporting supply chain services upstream and downstream. Compared to vertical players, comprehensive players often have a richer product matrix, meeting the deeper-level supply chain logistics needs of upstream and downstream customers. They possess higher commercial and social value, and their business has stronger risk resistance capabilities. Putting aside the business model, let's categorize them based on business strategy. Players in this industry can also be divided into supply companies ( B Terminal) guidance and freight truck driver C End) two types of guidance. Enterprise-oriented players not only build SaaS The system provides supply chain financial services and can match down on practical capacity scheduling and resource services. In terms of business outcomes, customer service has a higher stickiness, and its scope of services is continuously expanding, greatly expanding the investor's imagination; C End-oriented enterprises place more emphasis on order matching. Looking at the entire freight industry, especially the road freight sector, it is characterized by the principle 'where there is cargo, there is a vehicle.' In fact, truck drivers have relatively weak loyalty to platforms, and the main consideration for choosing a platform is the richness of orders. Therefore, 'where the cargo is, there the vehicle follows' is the core development feature of the industry. At present, the technological development of China's logistics supply chain is still in its early stages, and more than 90% of players in the industry are To C Guidance is strategy, but from the perspective of leading industry upgrades, the future B Customers who are strategy-oriented have stronger development potential, are more likely to become comprehensive leaders, and may even end up with the potential for a 'winner takes all'. According to our Frost & Sullivan assessment, adopting To B Companies with guiding strategies and the capability to fully extend into supply chain technology are currently a scarce target in China, with the number of such enterprises being in single digits. "   Q :   Could you please share with us some outlooks for the future of smart logistics and green transportation industries? Could you provide us with more data and practical insights?   Wang Chenhui:   Logistics new infrastructure construction is an important focus of the 14th Five-Year Plan. The future trend of the logistics industry is market-led and government-guided, further leveraging the effectiveness of various players within the industry to achieve healthy and high-quality development. As an important part of the logistics technology industry, the smart supply chain management platform needs to play a role in ensuring transportation safety and promoting cost reduction and efficiency improvement within the industry. It must effectively address the pain points of shippers and drivers, ensure the stability of upstream and downstream supply chains, and meet the expectations of the people and government. Specifically, in the future, China's smart logistics supply chain technology will comprehensively upgrade China's large logistics industry through three major trends: B2B "Technology" and "channel fulfillment". B2B The topic of 'players' has already been shared in the previous section, so I won't go into detail here. The core development strategies of 'technology' and 'channels' are the foundation for the implementation of intelligent logistics upgrades. In simple terms, 'technology' is an efficient means, while 'channels' are the basis for application implementation. Only by making comprehensive efforts around 'technology' and 'channels' can we truly apply intelligent supply chain technology in actual production and development practices. In addition, from the perspectives of sustainable industrial development and industry risk resistance, Frost & Sullivan believes that green logistics is a topic that we must take seriously. Reducing the carbon footprint of the logistics industry by replacing oil vehicles with electric ones is one of the focal points of the industry's green transformation. In the practice of transformation, one of the challenges faced by many new energy vehicle companies is the inability to reach upstream supply companies, which hinders market promotion progress. However, transportation resource platforms can serve as a bridge, helping new energy vehicle companies establish cooperative relationships with supply companies and play their role in green transformation. In addition, optimizing transportation routes through technology empowerment and reducing energy losses are also ways for players in the transportation platform industry to assist in the green transformation of the industry. From the perspective of capital market development strategies, various green financial instruments are emerging continuously, such as green bonds, green trusts, environmental equity financing tools, etc. Players with a green logistics gene have more diversified and convenient financing conditions compared to traditional players, and they will also be favored by the capital market in the future.

Currently, many beauty companies adopt contract manufacturing for product production. Generally speaking, big brands choose OEM (Custom processing) Cooperation, which emerging brands like ODM (Corporate-wide product development) collaboration. What are the advantages and disadvantages of these two processing models for beauty brands?   In terms of beauty product OEMs, ODM Does the factory model mainly focusing on OEMs mean that the company's cooperative customers are mainly emerging brands, leading to weaker customer stability and a higher risk of losing high-quality customers? If such risks exist, how should enterprises improve?   Frost & Sullivan Frost & Sullivan Wang Yixiao, a consumer industry analyst at Frost & Sullivan Greater China, was interviewed   At the forefront of entrepreneurship Interview, to jointly discuss the aforementioned topics. At the forefront of entrepreneurship Q Currently, many beauty companies adopt contract manufacturing for product production. Generally speaking, big brands choose OEM (Custom processing) Cooperation, which emerging brands like ODM (Corporate-wide product development) collaboration. What are the advantages and disadvantages of these two processing models for beauty brands? For beauty brands, adopting OEM The advantages are mainly reflected in brand building, cost control, market flexibility, and more. Leading brands in the beauty industry have adopted OEM Modeling and contract manufacturing can implement strict standardized control over product components, quality, and production standards, ensuring that products align with the brand's image and philosophy. Additionally, since the brand is only responsible for product design and development without bearing the costs of production facilities, more resources can be invested in product research and development as well as marketing, thereby further expanding the market influence of both products and the brand. Moreover, adopting OEM The brand operator of the model can adjust the order volume according to consumer demand, respond quickly to market changes, and effectively control sunk costs. But at the same time, OEM The model also has disadvantages such as supply chain risks and technology leakage. OEM In the model, the production process of beauty products is highly dependent on contract manufacturers, and unstable supply capacity from these manufacturers can directly affect the product supply chain. Additionally, when contemporary factories serve as production suppliers for multiple brands, there is a risk of technology and design leakage in beauty products. On the other hand, ODM In this mode, the customized needs of beauty brands can be met. After conducting consumer research and fully tapping into user demands, beauty brands can provide product customization services through contract manufacturing to help emerging beauty brands create differentiated products. At the same time, emerging beauty brands adopt ODM The model can save a significant amount of capital and time invested in early research and development, design, and production facilities. It can quickly launch products and seize market share. But for beauty brands, ODM Products developed and designed by manufacturers carry the risk of homogenization, making it difficult for brands to highlight their unique features. Additionally, since both the design and production processes are handled by contract manufacturers, brands have relatively weaker control over the final product. Q For some emerging beauty brands, if they started early with ODM The model is used for production. In the later stage, as brand influence and scale increase, will there be a greater preference to build their own factories or OEM Is the product produced in a model-based manner? What is the reason? As brand influence and scale grow, beauty brands may gradually move towards self-production or OEM The model is used for product production. With the gradual development of beauty enterprises and the corresponding increase in product output, self-built factories or the adoption of OEM Models help beauty brands exert more direct control over the production process, enhancing strategic flexibility, including rapid development of new products, adaptation to market changes, and execution of long-term strategic plans. In addition, having a self-operated factory or adopting OEM The model can also assist beauty brands in precisely defining product specifications and quality requirements, allowing them to manage their supply chain more flexibly and reduce dependence on a single supplier. Q In terms of beauty product OEMs, ODM Does a factory focusing on models mean that the company's cooperative customers are mainly emerging brands, leading to weaker customer stability and a higher risk of losing high-quality customers (emerging brands are unstable in development; after growing in scale, they may change processing models)? If such risks exist, how should enterprises improve? In the initial stages, startup beauty brands are more likely to use ODM The services of leading brands, due to their relatively long market entry time, often possess strong industrial chain resources, financial capabilities, and reserves of R&D talents. As emerging beauty brands grow and their market positioning improves, they may choose to shift towards self-production or OEM mode, to achieve higher product quality control and cost-effectiveness. ODM For contract manufacturers, they can make strategic adjustments in aspects such as expanding service scope, strengthening brand building, and improving technical capabilities. ODM To reduce the risk of customer churn and quickly respond to market changes, factories need to provide flexible production scales and diverse product options, especially offering customized design, R&D, marketing, and other value-added services to meet the needs of different types of customers and become partners for the growth of beauty brands. Secondly, ODM For contract manufacturers, investing in advanced production equipment and quality control systems is very necessary. The improvement of technical capabilities can ensure that product quality can meet the requirements of product upgrades and updates by beauty brands. At the same time, ODM Manufacturers need to build a professional brand image and enhance customer trust. *   This interview was published in At the forefront of entrepreneurship    Reporter: Hu Fangjie, original title:   Creating multiple beauty bomb products with one hand, but BAVI Co., Ltd. still faces challenges

2023 The overall consumption trend in the year has become more rational, with many consumers placing greater emphasis on practicality when purchasing goods. Against this backdrop, PopMart has still maintained good performance. What are the reasons for this? Under the backdrop of rational consumption, how has PopMart successfully 'attracted' consumers?   What are the differences between collectible model and trend gaming players? What is the emotional value that Popomart's own products provide to users?    Popomart, which IP address What are the development challenges of offline parks centered around this core experience? What are the key factors for sustainable development?   Frost & Sullivan Frost & Sullivan Zhu Yiming, Executive Director of Frost & Sullivan Greater China Region (hereinafter referred to as 'Frost & Sullivan'), answered   Business School Magazine Interview, jointly discussing the development of the trend game industry. Business School Magazine Q The latest data from Popomart shows that the revenue of Douyin's flagship store has increased by more than 800% The revenue of Popomart lottery machines has declined again. However, from the semi-annual report, WeChat mini-programs accounted for 45.6% , while Douyin, Tmall, and other e-commerce platforms accounted for 13.4% , 19% , 22% Will Douyin become the second growth curve for Popomart online? Why? Although Popomart is very popular on Douyin with rapid growth, the reason lies in the fact that online sales gradually became one of its main distribution channels during and after the pandemic. Therefore, Popomart is bound to make more attempts in its online layout, including the Douyin platform, as much as possible. Popomart is located at 2021 In the second half of the year, we started creating our own live-streaming e-commerce accounts on Douyin for live broadcasts. Additionally, due to the repeated lockdown policies during some international toy exhibitions, which were later converted into online events and launched through live broadcasts, there was a discernible surge in the revenue of our Douyin flagship store. This has led consumers to gradually get used to participating in various trendy toy activities online. Moreover, Bubble Mart's Douyin account has a clear logic; the official authorized account has built multiple self-operated live streaming rooms, precisely aligning with the fans of different communities to create differentiated operational advantages and output content. However, under the backdrop of economic downturn and the gradual fading of demographic dividends, the online incremental market has become a stock market, and growth rates will inevitably tend to flatten. In the medium to long term, Douyin will not become Bubble Mart's second growth curve on the online platform. The future growth trend of Popomart mainly lies in 'cross-border outbound business', which is high-quality and diverse. IP address Resources have established a first-mover advantage for Popomart's international business. 2022 After making strategic investments in this area last year, its explosive revenue growth has also been providing continuous impetus for the expansion of its overseas markets. As of 2023 In the second quarter of 2021, its overseas stores reached 55 The revenue growth rate of the Home segment has always remained as high as 130% Moreover, it is expected that there will be significant incremental space in the United States and Southeast Asia. Q 2023 The overall consumption trend in the year has become more rational, with many consumers placing more emphasis on practicality when purchasing goods. Against this backdrop, PopMart has still maintained good performance. What are the reasons for this? In the context of rational consumption, how has PopMart successfully 'attracted' consumers? It has to be admitted that the overall consumption situation is becoming more rational and practical. Popomart in 2023 The performance in the first half of the year was able to maintain growth, which is inseparable from its IP address Strong brand momentum. Bubble Mart is about pop culture IP address As a trend culture enterprise centered around, its target customer group's age ranges between 15 till 40 The 'Y' generation refers to a young group that has received a good education. They have experienced the rapid development of China 20 In [year], they came into contact with a vast amount of information about diverse cultures and modern lifestyles. They have a strong desire for self-expression and individuality and are willing to pay for emotional fulfillment. According to our previous consumer research data, this group also has a strong preference for IP address The related peripheral products exhibit extremely high loyalty and price acceptance, with a high repeat purchase rate. They are also keen on sharing through the internet as a medium. Therefore, in the context of declining consumption, single items with a wide range of unit prices, including both expensive and inexpensive small items, that can bring certain emotional satisfaction, have maintained a certain level of consumer resilience. In addition, from an industry perspective, the Chinese collectible toy market is still in its early stages and has not yet entered a steady development phase like countries such as Japan and South Korea. With the development of China's pan-entertainment market and significant IP address The continuous increase in quantity, the output of high-quality content, and an more open attitude towards niche trend culture will promote the rapid development of China's overall trend culture industry. As a leading company in the industry, Popomart can also enjoy the dividends brought about by the initial incremental customer base. Q What are the differences between hand-drawn model fans and trend-following gamers? What is the emotional value that Popomart's own products provide to users? TikTok culture includes physical goods such as collectibles that have certain value for collection and appreciation, along with emotional attachment. Some traditional collectible enthusiasts may need to manually polish, assemble, and color these items to complete them, which is somewhat different from the popular TikTok culture that has emerged in recent years, as it involves a broader public perception. Popomart's products incorporate trendy cultural content into various toys or daily items, endowing them with fashionable design and aesthetic value. The joy and companionship they bring can provide comfort and solace to the multicultural audience. Moreover, the surprise brought about by Popomart's 'blind box economy' is another important factor stimulating consumer purchases. Additionally, due to the wide range of unit prices for trendy toys, some fans can express their unique lifestyle and social status by purchasing different trendy toys, bringing about a sense of belonging and social topics within certain circles. Q 2023 year 9 Month by month, PopMart Paradise officially opened. The first wave of users was still mainly fans of PopMart. How do you view PopMart's attempt to 'reinforce' its presence? Although PopMart Paradise has performed quite well in terms of operational data, there are also online controversies such as low cost-effectiveness, limited entertainment content, limited peripheral sales, and rampant scalping. How do you view these consumer controversies? The core of trend culture is to establish emotional connections and value recognition with consumers. The move by Popomart Urban Paradise to set up stores can be seen as a significant leap from trend toy sales to trend culture dissemination, an essential market education that is necessary as it gradually moves from niche markets to mainstream ones. The asset-heavy park operation of Popcorn Land can actually be seen as a scenario-based 'light' amusement park. It does not have as many large-scale mechanical projects as Disney or Universal Studios, which is one of the criticisms it has faced. However, as mentioned earlier, the main focus of the park is to create an immersive experience for consumers, deepening emotional connections and eliciting emotional resonance. The subsequent development direction is also to build a relatively complete layout of trendy play formats and endow them with IP address Enhance with richer visual elements IP address The dynamic vitality includes interactive games, immersive performances, parent-child activities, etc., so we reserve our opinions on some of the controversies surrounding its online presence. The implementation of the park is still centered around IP address By conducting systematic operations and development, the brand's diffusion ability and the incremental market brought by tourists help further unleash its potential. Q Popomart, which IP address What are the development challenges of offline parks centered around this core experience? What are the key factors for sustainable development? The main difficulty in building offline theme parks lies in securing sufficient capital flow for operation and maintenance. However, compared to mature theme parks, Bubble Mart's first park has a more experimental nature and lower investment costs. Its primary goal is to take over the IP address The business format has been established, gradually creating carriers that can connect with fans based on content. Once the fans' imagination space and park experience are satisfied, the theme park can achieve sustainable development. The characteristic of Popomart is its rich IP address Matrix and top-level trend content, with continuous exploration capabilities and hit products IP address Refined operation helps extend the lifecycle of the park in the early stages of implementation and achieve a virtuous cycle in park operations. *   This interview was published in "The Business School》 Magazine    Reporters: Wang Yadi, Shi Dan. Original title:   In the era of rational consumption, can't people still do without Popomart?

As the Spring Festival approaches, the number of consumers consulting and seeking treatment at medical beauty institutions has increased significantly, and some popular projects require advance reservations. In the current economic environment, is there any difference in the market conditions around this year's Spring Festival compared to before?   What are the main factors affecting the significant differences in the medical aesthetics market across different regions?    What are the challenges in the medical aesthetics industry?    How can institutions break through profit growth points?   Frost & Sullivan Frost & Sullivan Zhu Yiming, Executive Director of Frost & Sullivan Greater China Region (hereinafter referred to as 'Frost & Sullivan'), answered   Cainiao Communications Interview, jointly discussing the development of the medical aesthetics industry.   * Click at the end of the article   Read the original text   View the full report Cailian Finance & Economics News Agency Q In the current economic environment, is there any difference in market conditions around this year's Spring Festival compared to before? Based on past experience, due to the favorable period for post-surgery recovery and adjustment during short holidays such as the Spring Festival, there is usually a peak in medical beauty consumption before the holidays. Compared to previous years, we believe that this year's trend of consumer growth in the medical beauty market will be more pronounced. Judging from the economic development situation, 2023 The year was the first after the relaxation of pandemic restrictions, with residents' travel and offline service consumption no longer constrained, and the macroeconomy recovering steadily. During this year, indicators such as per capita consumer expenditure and per capita service consumption expenditure both achieved positive growth after the pandemic, with year-on-year increases respectively. 9.0% and 14.4% , higher than 2022 That year -0.2% and -0.5% The growth rate level. Therefore, it is expected that in 2024 In the year, as the negative impact of the pandemic on economic development and consumption growth further subsides, per capita consumer expenditure among residents will continue to increase. The momentum of medical beauty consumption will continue to be released, and the consumption peak around this year's Spring Festival holiday has also seen a significant increase compared to previous years. Q What are the main factors affecting the significant differences in the medical aesthetics market across different regions? In China today, there are often differentiated characteristics among medical beauty consumers and institutions across different regions. Indeed, there are significant differences in market development, mainly due to differences in economic development, regional culture, regulatory priorities, and other aspects between different cities and regions: Firstly, consumers in different regions have varying demands and concerns regarding medical aesthetics. There are differences in the economic development levels of different regions, such as first-tier cities which have higher economic development levels, average per capita income and consumer spending. Consumers generally have a stronger awareness, willingness, and ability to consume medical aesthetics. Therefore, there are numerous medical aesthetics institutions in economically developed areas such as first-tier cities, and competition is often more intense. Price wars and service innovation are common competitive strategies. Secondly, the regulatory intensity and focus vary across regions, which can also lead to different development situations in the regional medical beauty market. For example, Beijing may have stricter compliance supervision and review, while Hangzhou encourages diversified medical beauty institutions to compete fully, placing more emphasis on enterprise openness and innovation, as well as service quality improvement. This results in different development priorities for medical beauty institutions in different regions during their development. Q What are the remaining challenges in the medical aesthetics industry? In the past, the medical aesthetics industry experienced a period of sustained high growth, but it also faced many challenges such as 'compliance', 'difficulty in acquiring customers', 'scarcity of high-quality doctor resources', and 'low net profit'. For example, difficulty in acquiring customers and high marketing costs have become another major issue hindering industry development. Nowadays, most medical aesthetics institutions spend too much on customer acquisition and do not manage their controllable costs as meticulously as they should, making it difficult to significantly increase their net profit levels. Many medical aesthetics service providers have fallen into a predicament of high investment, low conversion, and slow transactions. Q How can institutions break through profit growth points? Today, the business methods and concepts of various medical aesthetics service institutions are too similar, lacking innovation and differentiated competitive advantages. Many institutions focus too much on product-level competition while neglecting the enhancement of product added value, resulting in limited life cycle value that can be provided to customers, making it difficult to attract users and enhance customer loyalty in the long term. Therefore, for medical aesthetics service institutions to achieve profit growth, model innovation, technological advancement, and precise targeting of consumer groups are breakthrough points. Model innovation and technological advancement are important ways to achieve the goal of profitability. Through changes in business models, some leading companies in certain industries are gradually emerging from fierce competition. The iteration of business models involves reorganizing and optimizing existing assets, while technological innovation drives industry transformation into new growth areas in the future. Therefore, while accelerating business model innovation, technological advancement in the industry must also proceed side by side without contradiction. In addition, as the consumer understanding and demand for medical aesthetics mature, their needs for medical aesthetic products and services have become more diversified. Facing the complex market environment and increasingly fierce competition, upstream manufacturers and medical aesthetic service institutions need to accurately understand the core needs of medical aesthetic consumers, establish solid trust links, in order to succeed in the next cycle of the medical aesthetics market. *   This interview was published in Cailian Finance & Economics News Agency    Reporter: Why Fan, original title:   The small peak of medical aesthetics is upon us! A wave of demand before the Spring Festival, why are practitioners complaining?

Currently, what is the overall market outlook for intelligent driving? DJI started with drones and has entered the market for intelligent driving vehicles. What are its technical advantages and what disadvantages does it face? Apart from DJI's vehicle-based offerings, the domestic intelligent driving technology landscape also includes Huawei's recent spin-off of an independent Intelligent Automotive Business Unit. Additionally, there are companies such as Pony.ai, Waymo, and Baidu Apollo. L4 Players are also working on solutions for autonomous driving penetration. What are their respective characteristics and competitiveness? Where is DJI's opportunity?   Frost & Sullivan Frost & Sullivan Wang Yicheng, Consulting Manager of Frost & Sullivan Greater China Region, was interviewed   Time Weekly Interview, jointly discussing the current market situation of intelligent driving vehicles.   * Click at the end of the article Read the original text View the full report Time Weekly Q What is the overall market outlook for intelligent driving at present?   Intelligent driving is widely regarded as one of the important development directions for the automotive industry in the future. Overall, the market prospects for intelligent driving are still very promising. Firstly, from a technical perspective, the technical levels of various manufacturers are still in a stage of rapid improvement. According to data from the Ministry of Industry and Information Technology, 2022 year, L2 The penetration rate of new first-tier passenger vehicles has reached 34.5% from Github The change in the number of new R&D projects in the technology community also reflects progress in autonomous driving technology. L3/L4 The proportion of new R&D projects for Level 4 autonomous driving has decreased from 2016 year 18.2% increased to 2022 year 55.6% , L1/L2 The proportion of each level accordingly 81.8% descend to 44.4% But at a higher level of driving automation L4/L5 The phase still requires a long process of technological maturation and has a long way to go. At the policy level, governments in many countries and regions have recognized the potential of intelligent driving and have taken a series of policy measures to support its development. For example, this year 11 The 'Notice on Carrying Out Pilot Work for the Access and Road Use of Intelligent Connected Vehicles', recently released by four departments including the Ministry of Industry and Information Technology, mainly targets vehicles equipped with national standards 3 level L3 levels) and 4 level L4 The pilot work on the access of intelligent connected vehicle products with Level 4 autonomous driving capabilities has been carried out. This signifies a crucial step forward in the development of China's intelligent connected vehicle industry and also implies that there is greater room for exploration in policy and legislative practices related to intelligent driving. Additionally, on the demand side, the sales of new energy vehicles in China have driven the development and application of intelligent driving technology. As is well known, electrification and intelligence are two major trends in the development of the automotive industry, and these two trends are closely intertwined. Under these trends, new energy vehicle companies, especially domestic and international new car makers, are using autonomous driving as a selling point to form differentiated advantages. They have stronger motivation to develop intelligent driving and a greater willingness for users to adopt it, making them important drivers of the development of intelligent driving. Moreover, the huge potential of intelligent driving in the market has attracted a large amount of investment. In China, financing in the field of autonomous driving has been 2015 It started to grow rapidly at the beginning of 2015 Year-end 2021 Financing events during the year 402 Amount of financing 939.91 yuan, of which 2021 Annual financing events 111 Amount of financing 497.8 Yuan. The substantial investment in capital has catalyzed the rapid development of intelligent driving technology and an increased market acceptance. More and more vehicle models are equipped with intelligent driving functions, which has also promoted the rapid development of a number of automakers that attach importance to intelligent driving. In summary, the overall market prospects for intelligent driving are very optimistic, and it is expected that growth will continue in the coming years. However, the maturity and widespread application of intelligent driving technology still require overcoming some technical, legal, and social challenges. Q DJI started with drones and has entered the intelligent driving in-vehicle market. What are its technical advantages and what disadvantages does it face? As a leading manufacturer in the field of drones, DJI actually has many drone technologies that can be applied to current in-vehicle intelligent driving, forming a unique technical advantage. First is sensor technology. As early as 2020 year 1 month 7 day, CES 2020 (Digital World Expo) At the exhibition, DJI's internally incubated subsidiary Livox Two lidar products specifically designed for autonomous vehicles were also released. Horizon and Tele-15 In the field of drones, technologies such as cameras, lidar, and ultrasonic sensors can be applied to intelligent driving in-vehicle systems, providing accurate environmental perception and obstacle detection capabilities. Secondly, DJI has strong technical capabilities in image processing and computing power. The drone industry has a high demand for real-time image processing and efficient computing capabilities, especially DJI's inertial navigation binocular vision. bv Construction, local map technology, integrated with BIM bv Perception technology, deep campus-wide estimation technology, 4D Scene Streaming Technology and 4D Technologies such as fully visual self-labeling can be applied to intelligent driving in-vehicle systems, providing fast and accurate decision-making and control capabilities. Additionally, DJI has profound research and development experience in algorithms and artificial intelligence. The return-to-home and automatic obstacle avoidance functions of aircraft require advanced algorithms and artificial intelligence technologies. These technologies can be applied to the path planning layer of in-vehicle intelligent driving, as well as precise altitude control and fixed-point hovering for drones, which can be perfectly replicated into the vehicle's powertrain and steering control of intelligent driving systems. The disadvantages and challenges faced by DJI mainly come from three aspects: security, industry experience, and fierce competition. DJI's technical advantages in the field of drones are mainly reflected in its low cost and excellent experience achieved through high cost-effectiveness. Compared to vehicles, drones have relatively lower computing power and are less capable of supporting more advanced intelligent driving. The more complex road conditions in airspace pose higher safety requirements for DJI's technology. Entering the intelligent driving in-vehicle market is DJI's attempt at new fields. However, currently DJI is still in its rookie stage and does not have much accumulated market resources. Facing market tests, there are still significant challenges ahead. Some vehicle manufacturers have stated that DJI's investment in autonomous driving is an attempt into a new field, but it is currently still in its infancy, lacking substantial market resources. Facing the test of the market, there are significant challenges ahead. Moreover, the intelligent driving vehicle market already has many competitors, including traditional automakers and technology companies. These competitors also possess strong capabilities and resources in intelligent driving technology. Therefore, DJI needs to invest a significant amount of capital and resources to gain a firm foothold in market competition. In summary, whether DJI can find its own position and play an important role in the field of intelligent driving with its technical strength and innovation capabilities still requires time to be tested. Q Currently, in addition to DJI Auto, the domestic intelligent driving technology camp also includes Huawei's recently spun-off intelligent vehicle business unit. Additionally, there are companies such as Pony.ai, Waymo ATOM, and Baidu Apollo. L4 Players are also working on solutions for autonomous driving penetration. What are their respective characteristics and competitiveness? Where is the opportunity for DJI? As a globally renowned communication technology company, Huawei possesses strong network and communication technology capabilities. Huawei in 5G Huawei has rich experience in communication, Internet of Things (IoT), edge computing, and other areas, which can provide high-speed and reliable data transmission and processing capabilities for intelligent driving vehicle systems. In addition, Huawei also has a wide network of partners and market channels in the passenger car market, such as SAIC Li Auto, BAIC Cybertruck, Changan AVAT, etc., which provides opportunities for the development of its intelligent driving business. Xiaomao ZhiXing is a leading autonomous driving technology company in China, focusing on L4 Level 4 autonomous driving solutions, with a focus on Robotaxi Concept. Pony.ai has strong technical capabilities in perception, decision-making, and control, and its independently developed autonomous driving platform can be applied in fields such as travel, logistics, and public transportation. Pony.ai has carried out a series of commercial deployments in the Chinese market and established strategic partnerships with multiple partners, including automakers such as Toyota, Geely, and GAC, as well as operators such as Meituan, Ruyiqi Mobility, CaoCao Mobility, and Jinjiang Taxi. Wenyuan Zhixing is an innovative company focusing on autonomous driving solutions. Its corporate philosophy is similar to Pony.ai's, covering smart mobility, smart freight, and smart sanitation. Its core technologies include perception, decision-making, and control. Wenyuan Zhixing owns independent intellectual property and core algorithms in areas such as high-precision maps, assisted driving, and autonomous driving. It has cooperated with multiple automakers and urban operators, including the Renault-Nissan-Mitsubishi Alliance, Yutong Group, GAC Group, Bosch, etc. Wenyuan Zhixing's strengths in the field of intelligent driving include technological innovation and its ability to collaborate with the industry. Qingzhou Intelligent Navigation is an autonomous driving solution provider under Baidu, with its own independently developed Apollo The platform is one of the largest open-source autonomous driving platforms in China. Qingzhou Intelligent Navigation has strong technical capabilities in perception, decision-making, and control, and has already cooperated with several automakers and partners, with mass production deployment imminent. Baidu, with its rich experience in artificial intelligence and big data, provides support for Qingzhou Intelligent Navigation's development in the field of intelligent driving. The opportunities for DJI's in-vehicle solutions in the intelligent driving market mainly lie in its advantages in sensor technology and image processing, as well as its accumulated technical strength and global market channels in the field of drones. At the same time, DJI can further expand its influence in the intelligent driving domain by leveraging its brand recognition and reputation in the drone industry. Additionally, DJI can collaborate with other intelligent driving technology camps to jointly promote technology towards more powerful computing power and higher levels of automation. L3/L4 Rank progression. *   This interview was published in     "The   Time Weekly   Reporter: Guo Meiting, original title:   DJI's in-vehicle acceleration "Get in the car" campaign: More than 10 million views this year 20 The car will be equipped with... BYD and FAW have thrown out an olive branch?

In recent years, Chinese fast food has become increasingly popular, especially Chinese hamburgers. What are the reasons for its continuous rise in popularity? Is it related to the resurgence of nationalist consumption? Why have they been able to maintain strong growth momentum despite the economic slowdown? What key strategies have businesses adopted? What are the well-known brands in the Chinese fast food industry? Are there potential risk factors for franchise operations?   Frost & Sullivan Frost & Sullivan Lou Lei, Executive Director of Frost & Sullivan Greater China Region (hereinafter referred to as 'Frost & Sullivan'), was interviewed   The Wire China Interview, jointly discussing the development of the Chinese catering industry. The Wire China Q In recent years, Chinese fast food, especially hamburgers, has become increasingly popular among the public. What has led to their popularity? Is this related to the rise of national trends or nationalist consumption? Why can they still maintain a strong growth momentum despite the economic slowdown? This is the result of multiple factors converging: （ 1 The economic growth rate has slowed down, and there has been structural adjustment in the economy. Consumers have an increasing demand for cost-effective products. This type of local fast food, including Chinese hamburgers, happens to meet this demand. （ 2 China's catering supply chain has experienced rapid development over the past few decades. The upstream and downstream of the industrial chain have built a very complete industrial chain in terms of raw material supply, distribution, and the preparation of intermediate products. To a certain extent, this is also inseparable from the contributions of KFC and McDonald's, which have cultivated a group of modern suppliers. This has enabled Chinese fast food to easily find suitable, competitive-priced, and standardized product suppliers and quickly establish their own supply chain systems. （ 3 In recent years, new social tools, especially products represented by Douyin, have provided catering brands with new traffic channels. Some emerging brands have taken advantage of their understanding of consumer new needs by applying for delivery services first, diverting traffic to offline stores and thus reaping the benefits of development. （ 4 Many emerging brands are local fast-food chains or those targeting the lower-income market. For a long time, the lower-income market has not formed a leading enterprise sector, with a large number of traditional and fragmented catering businesses. This has provided space for the development of these emerging fast-food chains. We believe that although the rise of Chinese-style hamburgers in recent years has been aided by national trends and local consumption, their sudden surge is essentially the result of a combination of various comprehensive factors. Consumers are not simply paying for national trends. The economic slowdown mainly affected some consumer goods industries that were previously relatively priced higher. These Chinese-style hamburgers are known for their cost-effectiveness and affordability, so they were not greatly impacted. Q with Tastien For example, the number of its stores has increased from 30 The company rapidly expanded to 6000 Multiple locations. How has this expansion rate been achieved? What key strategies have been adopted by the company to drive this growth? In summary, the rapid rise of Taster's is due, on the one hand, to macroeconomic background and era dividends such as new changes in economic structure and vast market space in the lower-tier markets (more than half of its stores are located in third- and fourth-tier cities), and on the other hand, to its unique products and flavors (Chinese-style hamburgers, freshly baked bread rolls). + Standardized and quality-controlled products + The full application of Douyin's traffic monetization strategies is the reason for his success. Q besides Tastien What other well-known brands in the Chinese fast-food industry are similar to Paila Burger and Jia Guolong? In addition to hamburgers, other fast food options are also worth noting. This includes noodle restaurants (such as Hefu Lao Mian and Chenxianggui), as well as rice-based fast food (such as Yu You Yi Zhi, Miyamura Bunmi). For a long time, these sub-sectors have been characterized by large category sizes and a lack of leading brands, but there is significant room for large-scale and chain development in the future. Drawing on Japanese examples, when the economy underwent structural changes, large-scale chain enterprises such as Sushiya and Salad Bar emerged. They have carved out a niche by offering cost-effective, standardized products that are delicious but not expensive. Q In terms of the number of branches, Tastien It is rapidly catching up with competitors such as McDonald's. What changes have taken place in its market share? Is there a possibility that it could threaten the market positions of traditional brands like KFC, McDonald's, and Wallace in the future? We believe that at the current stage, everyone is still competing in a misaligned manner, as there are significant differences in terms of customer unit price, location selection, and urban distribution. Companies like Tastin mainly develop in lower-tier cities and generally do not directly compete with KFC and McDonald's in the same locations when entering high-tier cities. The target customer groups also vary. However, in the long run, it is inevitable that KFC and McDonald's will continue to expand downward while Chinese-style hamburgers develop upward. We believe that more players and richer product innovation are beneficial for the long-term development of the industry. We can also see that KFC has recently launched some products similar to Chinese-style hamburgers. The rise of Chinese-style hamburgers is also inseparable from KFC and McDonald's transformation of the Chinese catering supply chain. Q At the operational level, Tastien Are there any potential risk factors? For example, last year Tastien There have been food safety issues at Hamburg, with some branches found using expired ingredients. Are these incidents isolated cases or reflect deeper problems? For this type of catering business that primarily relies on franchisees, the management of franchisees, especially in terms of food safety, has always been one of the most fundamental and important aspects. This is also the reason why many of the earliest Chinese franchise enterprises have seen a decline in their performance. The company needs to find a balance between development speed and quality control. During rapid development, issues with quality and store management are most likely to arise, such as exceeding the original store density and transitioning to more intensive encryption, franchisees not complying with the company's food safety regulations, etc. We have also seen leading enterprises continuously strengthening management and investment in this area. The improvement of electronic tools now also provides relevant guarantees, but there is still much room for improvement here. For thousands of franchisees, many of whom are individual businesses, certain security issues can sometimes arise and are difficult to avoid. However, whether this proportion can be controlled and continuously improved is the fundamental for a company's longevity. KFC and McDonald's have also gone through nearly a century of development before achieving today's success. *   This interview was published in   The Wire China   Reporter for Rachel Cheung Original title:   Patriotic Patties — A new wave of domestic fast-food upstarts has emerged by touting Chinese burgers .

Since the 1980s, China has actively promoted the development of biotechnology industries. Favorable policies, national special funds, and inflows of private capital have greatly facilitated the progress of China's biotechnology industry. Basic research and applied transformation research achievements have advanced side by side, and remarkable results have been made in several mainstream fields of frontier biotechnology. In recent years, with the reform of China's drug review and approval system and the integration of biotechnology R&D with international standards, outstanding Chinese biotechnology enterprises have gradually gained international recognition and embarked on an internationalization strategy of going global.   The internationalization strategy of Chinese biotech enterprises is an inevitable path for future development. The internationalization strategy can not only help enterprises open up global markets and maximize the value of products, technologies, and platforms, but also enable Chinese companies to learn from advanced management experience and technology in competition and cooperation with outstanding international biotech enterprises and multinational corporations. Currently, a series of excellent Chinese biotech enterprises have begun to go global, gradually exploring various types of cross-border cooperation models in independent research and development and commercial licensing, to promote their own internationalization strategy.   Frost & Sullivan (Frost & Sullivan, abbreviated as 'Frost & Sullivan') was established in 1961, with its global headquarters located in New York, USA. It connects to Wall Street financial markets, reaches over 1,000+ financial industry companies, and has offices in major regions around the world. Over its 63-year development history, it has provided consulting services to more than 10,000 international companies in various fields, becoming a globally renowned growth consulting firm with extensive influence and brand power in multiple industry sectors and financial markets.   Frost & Sullivan's professional research reports and industry insights have attracted attention from media worldwide. It has established deep collaborations with top global communication agencies (such as The Associated Press and United Press Syndicate), mainstream financial media (such as Yahoo Finance), top North American financial media and websites (including Business Insider, Dow Jones MarketWatch, Benzinga, Wall Street Insider, etc.), as well as top regional media around the globe. Leveraging Frost & Sullivan's professional industry analysis, global distribution network, and global industrial resource network, it effectively assists Chinese biotech companies in their internationalization strategy. Greg Caressi Partner, Global Client Leader & Senior Vice President, Frost & Sullivan   "Frost & Sullivan is a global growth consulting firm with a 63-year history. We are delighted to leverage our influence and global resource network to assist more Chinese biotech companies in realizing their internationalization strategies, to foster the integrated development of the global healthcare sector."   Dr. Wang Xin Global Partner and Chairman of Frost & Sullivan Greater China Region   "Since entering the Chinese market in 1998, Frost & Sullivan has always been proactive in helping Chinese enterprises achieve capital operation goals such as financing and listing, with a global perspective. It has helped numerous Chinese brands go global. In recent years, the R&D capabilities and technological innovation of domestic biotech companies have gradually gained international recognition, further encouraging them to actively explore new models of international development, open up broad overseas markets, and seek new incremental growth. In the future, we will continue to leverage our expertise and influence to help Chinese biotech companies seize certainty in the global wave and realize their international strategic ambitions." Jiangsu Frost & Sullivan Biotechnology Co., Ltd. (referred to as Frost & Sullivan Biotechnology) is an industry-leading platform enterprise in synthetic biology driven by innovation, deeply involved in the field of collagen. Frost & Sullivan, in collaboration with Frost & Sullivan Biotechnology, has released the report globally. Recombinant Type XVII Collagen Whitepaper Combining Frost & Sullivan's professional database and expert team, the report conducts an in-depth analysis of the current situation and development trends of the Chinese collagen market. It provides a detailed analysis of the Chinese XVII-type collagen market, its applications, and development prospects. The report is also published in collaboration with several globally renowned media outlets to raise global awareness of the collagen industry and showcase the technical and platform advantages of outstanding enterprise, Chuangjian Medical, thereby promoting the internationalization of the Chuangjian Medical brand.   Recombinant Type XVII Collagen Whitepaper Global release   The white paper was published on the Frost & Sullivan global website and included in the global database. Since its establishment in 1961 and development to date, Frost & Sullivan has become a global growth consulting firm covering various industries and regions. The Frost & Sullivan database contains research reports and in-depth insights from nearly 50 offices around the world, integrating professional knowledge to provide a global perspective. It tracks over 1,000 emerging technology fields and analyzes industry development and application prospects.   The Frost & Sullivan Global Database covers various sub-industry directions, with the life sciences sector being one of the most important. The research reports included in the Frost & Sullivan Global Database enjoy a high level of recognition in the global life sciences industry and serve as a window for biopharmaceutical companies, medical device companies, biotech firms, government agencies, financial institutions, investment companies, university research centers, and other organizations to understand industry growth opportunities. With the help of the Frost & Sullivan Global Database, the global biotechnology industry can gain close insights into the development of China's biotechnology industry, recognize the technical platforms and product R&D capabilities of Chinese biotech enterprises, as well as their latest progress. It is also an important platform for Chinese biotech enterprises to promote their internationalization. Published by 10+ global core media Published by several globally influential media, including Associated Press, one of the world's largest communication agencies; Yahoo Finance, a mainstream financial media; Business Insider, a top North American financial media and website; Dow Jones Market Watch, Benzinga, Street Insider, and others.   Included in over 700 global media outlets Based on Frost & Sullivan's global brand influence and professional analysis capabilities, the published content has been included in multiple media outlets. This helps enterprises further enhance their brand awareness globally, deepen their understanding of enterprise technology and products, and facilitate the internationalization of their brands.  …… Scan the QR code to get the report now   About Chuangjian Medical   Jiangsu Chuangjian Medical Technology Co., Ltd. (Chuangjian Medical) was established in 2015. It is a platform enterprise that drives the entire synthetic biology industry with innovation. It owns a biosynthesis platform and a medical device transformation platform, focusing on the research, development, production, and sales of new biomaterials, innovative proteins, nucleic acid drugs, and food products. It holds 5 authorized core sequence patents for recombinant collagen in the field of recombinant collagen. In July 2022, Chuangjian Medical successfully completed nearly 200 million yuan in Series A financing, led by the Capital Joy Fund exclusively funded by Zishengtang China, with Huafang Capital, Dinhui Bafu, and Huali Medicine participating as follow-on investors. In September 2023, it completed over 200 million yuan in Series B financing, jointly led by L Catterton (Chinese name: Lu Weikaiteng) and CITIC Lyon Capital, with Chuangfang Investment and Mingfeng Capital participating as follow-on investors.   Chuangjian Medical adheres to an independent innovation development path, has successively participated in national '13th Five-Year Plan' and '14th Five-Year Plan' key research and development projects as well as multiple provincial and municipal research topics. It has been rated as a high-tech enterprise and has received multiple honors including the national/provincial 'Little Giant' enterprise for specialized expertise and innovation, Jiangsu Postdoctoral Innovation Base, Jiangsu Engineering Technology Research Center, and potential unicorn enterprise in Jiangsu Province.   About Frost & Sullivan   Frost & Sullivan (Frost & Sullivan, abbreviated as 'Frost & Sullivan') is a global growth consulting company. For over 63 years, Frost & Sullivan has been deeply involved in global capital markets and corporate consulting services through its nearly 50 offices around the world. Utilizing a powerful database and expert network, rich professional knowledge, and consulting tools, it has helped more than 10,000 clients (including Fortune Global 1000 companies, top domestic and international financial institutions, and various other leading enterprises) accelerate their business growth, helping them achieve growth, innovation, and leading benchmarks within their industries.   About Frost & Sullivan's Life Sciences Practice in Greater China   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 the 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 has established a vast client network over the past 20 years, accumulating extensive project experience across various sub-sectors of life sciences.   Project types include Knowledge Center projects (in-depth content, promotional activities), Pre-IPO projects (DCF valuation, business plan services), IPO listing projects (industry consulting, clinical audit, fundraising and investment writing), market research, market value management, and strategic consulting, etc. In addition, we cooperate with well-known domestic and international information platforms and investment and financing institutions to provide one-stop solutions for enterprises in professional niche fields such as pharmaceuticals and medical devices, attracting wide attention from investors.

8 month 28 day 2024 The 18th Frost & Sullivan China Growth, Innovation and Leadership Summit and the 3rd New Investment Conference (hereinafter referred to as " 2024 The 'Frost & Sullivan New Investment Conference' was grandly inaugurated at the Jing'an Ruiji Hotel in Shanghai. Frost & Sullivan Growth, Innovation and Leadership Awards, coinciding with the conference 2024 The annual award ceremony and VIP reception were grandly held.   The event site was packed with distinguished guests, bustling with activity. Representatives from various sectors including the government, academic associations, capital institutions, industry leaders, mainstream media, and higher education institutions gathered together to celebrate this grand occasion. As the best growth partner with industry depth and breadth, 26 Over the past year, Frost & Sullivan has pioneered 'Full-Service Investment Management (Total Investment Management, TIM "Providing comprehensive investment and financing services as well as various other professional consulting services for enterprises has made us a leading company in the field of domestic investment and financing strategy consulting. We have served over 10,000 enterprises for listing and financing in all aspects. We have established a market position confirmation system and pioneered “" FSBV The 'Frost & Sullivan' brand value model” has been translated into over 1,000 The enterprise provides market position confirmation and brand valuation services. Frost & Sullivan in the Chinese market 26 The vigorous development over the past year has been inseparable from the trust, support, and assistance of all customers and partners. In particular, we would like to express our sincere gratitude to the expert consultants for their meticulous guidance and professional leadership. To express our heartfelt thanks, we are especially awarding the “ 2024 Frost & Sullivan's Greater China Special Contribution Award&rddquo;. Mr. Zou Yaru, Global Partner and Executive Director of the Board at Frost & Sullivan Aroop Zutshi Dr. Wang Xin, Global Partner at Frost & Sullivan and Chairman of the Greater China Region, together with Mr. Xu Shilong, Chairman of Shanghai Port Group and President of the National Committee of the Chinese People's Political Consultative Conference and Chairperson of the New Quality Productivity Expert Committee at Frost & Sullivan, Mr. Wu Gang, Member of the New Quality Productivity Expert Committee at Frost & Sullivan and Chairman of the Asia Independent Non-executive Directors Association, and Dr. Fan Renda, Member of the New Consumption Expert Committee at Frost & Sullivan and Founding President of the Hong Kong Independent Non-executive Directors Association and Chairman of the Asian Independent Non-executive Directors Association, presented certificates and medals to the recipients. 2012 In [year], Mr. Xu Shilong received three highly prestigious international awards— the highest invention award, the 'Best Invention Gold Medal', awarded by the United Nations World Intellectual Property Organization; the highest honor for green inventions, the 'Green Invention Honorary Award', awarded by the World Invention Association; and the 'Bogueux Invention Support Award', which has been awarded to individuals who have made significant contributions to society in the field of invention and innovation, including the President of Croatia, Princess of Thailand, and the Director-General of the World Intellectual Property Organization. He is the first Chinese person and the tenth globally to receive this honor. Mr. Wu Gang is the incumbent CCTV-1 Chief Producer of "Great Power Brands"   Graduated from Communication University of China with a degree in Television Journalism, Tsinghua University EMBA Cheung Kong Graduate School of Business DBA Once served as a reporter for the 'Economic Half Hour' program on CCTV Channel 2, mainly responsible for IT Special reports on industries such as investment, automobiles, and real estate have won various awards more than ten times, and the author has also received honors such as Outstanding Reporter and Producer of CCTV on multiple occasions. once served as CCTV-2 Financial and Economic Channel reporter and editor-in-chief, interviewing hundreds of important Chinese and foreign political figures, experts, scholars, and entrepreneurs, while also planning and leading projects including 'Shanghai APEC 》、'China Economic Annual Figures', 'China's Annual Brands', 'Corporate Credit Transfer in China', CCTV Station Several important national communication projects, including the National Brand Program. 2017 year 7 month 1 Today, Mr. Wu Gang, as the Chief Producer, officially launched CCTV Station "Great Power Brands", and it has been broadcast on China Central Television's Comprehensive Channel every day 3 time, each time 3 Minutes tells the world and China the stories of outstanding Chinese brands emerging in the new era.   The 'Chinese Brand' proposed by Mr. Wu Gang World Sharing", has become " 5.10 The official theme for 'China Brand Day'. For over two decades, Mr. Wu Gang has been dedicated to doing one thing well: telling the stories of Chinese and global brands. After several years of practice and exploration, 'Great Brands of China' has successfully assisted CRRC, TCL The significant development of hundreds of brands such as the Group, Anta Group, Libai Group, Jiumu Bathroom Ware, Shangpin Home Furnishings, Sanke Tree, Shounong Group, Vinoona, etc., along with their novel and innovative communication and marketing methods, have become the focus of attention from all sectors, and the program has repeatedly won awards. His expertise includes corporate management, corporate finance, mergers and acquisitions, venture capital, corporate consolidation and restructuring, among other areas. Previously, Dr. Fan has held senior positions at several international financial institutions and served as Managing Director of a listed company on the Hong Kong Stock Exchange Limited. 30 He serves as a member of the board of directors of the company. His experience includes listed companies, family businesses, and non-profit institutions. Dr. Fan holds a Master of Business Administration degree from the United States and a Doctor of Economics degree. Partners are the most important supporters and drivers of Frost & Sullivan's growth and development, and they are also the most treasured asset that Frost & Sullivan has ever had. Looking to the future, Frost & Sullivan will, with gratitude, a spirit of cooperation, and a vision for mutual success, sincerely look forward to advancing hand in hand with all partners. We will live up to the times, never forget our original aspirations, and jointly create an even brighter tomorrow!