China Biopharmaceuticals Annual Report Conference   Co-hosted by the Chinese Association of Medical Biotechnology, the journal Chinese Medical Biotechnology, and the People's Government of Tonglu County The 'Fuchunshan China Biopharmaceutical Industry Annual Report Meeting and Top Ten Advances in China Biopharmaceutical Technology (2023)' was held from January 12th to 14th, 2024, in Tonglu, Hangzhou.   Affected by various factors such as global social politics and the COVID-19 pandemic, global economic development has continued to fluctuate. The fields of biopharmaceutical research and investment have been significantly impacted, causing certain negative effects on the development of biopharmaceutical research, especially in the areas of innovative drugs and new therapies. To objectively analyze and understand the current situation at home and abroad and actively respond, this event has specially designed The special forum 'Ice-breaking Journey - Seizing Opportunities in Biomedical Development and Investment' has invited relevant academicians and experts, heads of well-known enterprises, representatives from investment institutions, and representatives from renowned consulting agencies to attend. The forum aims to jointly discuss how to seize opportunities in an ever-changing environment, formulate practical strategies, and achieve healthy development in the field of pharmaceutical biotechnology.   Frost & Sullivan frost  & Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan's Greater China Region, was invited to attend a special forum. He reported and exchanged ideas with leaders, experts, entrepreneurs, and researchers on 'how to seize opportunities in biopharmaceutical development and investment'.   Dr. Wang Xin (first from left), Professor Wang Yu (second from left), President of the China Foundation for the Prevention and Control of Hepatitis and former Director of the Chinese Center for Disease Control and Prevention, Academician Chen Kaixian (second from right), an expert in drug research at the Shanghai Life Sciences Institute of the Chinese Academy of Sciences, and Professor Cai Jiangnan (first from right), Executive Chairman of Chuangqi Health Research Institute   Dr. Wang Xin's main viewpoints are as follows:     The development trend of the global biopharmaceutical industry is shifting towards personalized, precision medicine, and preventive healthcare.    With the rapid development of technologies such as gene sequencing and cellular immunotherapy, the biopharmaceutical industry is expected to make significant breakthroughs in areas such as cancer and genetic diseases. At the same time, with the application of artificial intelligence and big data technology, the biopharmaceutical industry will also enter an era of greater intelligence and efficiency.   In China, the biopharmaceutical industry is also developing rapidly. The Chinese government has increased its support for the biopharmaceutical industry, encouraged innovation and R&D investment, and accelerated the development of the industry. At the same time, China's population aging and increasing health awareness have also provided broad market space for the biopharmaceutical industry. In the next few years, China's biopharmaceutical industry will continue to maintain a high growth rate and is expected to become one of the important centers in the global biopharmaceutical industry. In terms of market size, the current market size of China's biopharmaceutical industry is about RMB 1.6 trillion, expected to exceed RMB 2.8 trillion by 2030. The main growth in the market comes from the rapid development of generic drugs, which will maintain a 10% rapid growth rate over the next five years.     Overall, the development trends of the global and Chinese biopharmaceutical industries in the coming years are very clear. Technological innovation and market demand growth will jointly drive the development of the industry. At the same time, further strengthening is also needed in aspects such as government policies, capital investment, and talent cultivation to promote the sustainable development of the industry.       Dr. Wang Xin pointed out, comparison From 2019 to 2021, the Chinese biopharmaceutical capital market was booming. However, since the second half of 2022, the activity of the Chinese biopharmaceutical market has indeed declined.    From the perspective of capital investment, compared with In 2021 and the first half of 2022, investment generally exceeded 8 billion US dollars. In the first half of 2023, investment in the biopharmaceutical sector in the Chinese market has fallen back below 6 billion US dollars.   Source: Analysis by Frost & Sullivan     However, from an industrial perspective, China's biomedicine industry is still moving forward on its development path.    In 2023, a large number of innovative biopharmaceutical companies that were previously listed as unprofitable entities have now launched commercial products. Companies such as BeiGene, CanSino Biologics, CStone Pharma, and Fosun Pharma have all seen their commercial product revenues grow by more than 50%.     Not only that, but a large number of local companies have also started to The pace of 'going global' has also seen enterprises no longer solely rely on capital investment from the pure capital market for R&D.    According to statistics, as of At the end of October, there were a total of 28 domestic innovative drug projects going global through license-out arrangements, with a total upfront payment exceeding $2.1 billion and a total transaction amount reaching $227 billion. The product forms included small molecules, antibodies, ADCs, CAR-Ts, etc., among which ADC was the most popular track and area of deployment. For example, Fosun Pharma, Hengrui Medicine, Rongchang Biologics, and Yilian Biotech have successively disclosed their global equity cooperation arrangements.     Dr. Wang Xin said, looking at The Chinese biopharmaceutical market after 2015 is essentially one of continuous innovation, with more new and effective drugs beginning to enter clinical trials.    In the past few years, the newly revised 'Drug Registration Management Measures' and 'Drug Production Supervision and Administration Measures' implemented by the state have laid a solid foundation for the development of China's biopharmaceutical market.   On one hand, the state has made its policies on new drug regulation more stringent and standardized to ensure the safety and effectiveness of drugs. On the other hand, it has also increased supervision over generic drugs, raised the quality standards for generic drugs, and created a better market environment for the research, development, and marketing of innovative drugs.   Secondly, the government has simplified the approval and marketing process for new drugs, accelerating their launch speed. For instance, the country has implemented a priority review and approval policy, giving priority to eligible new drugs in terms of approval, shortening the approval cycle, and accelerating the launch process of new drugs. In addition, the government has established a special approval channel for innovative drugs, providing more convenient services for the research, development, and marketing of innovative drugs.   In addition, the Chinese government has introduced support policies for biopharmaceutical innovation enterprises, such as tax exemptions and financial support, to encourage companies to increase investment in innovative drug research and development. At the same time, the government also encourages enterprises to collaborate with universities and research institutes for industry-university-research cooperation, promoting the R&D process of innovative drugs.     "Although the performance of biomedicine in the capital market has slightly declined in the past year, considering the national development direction, the favorable policies continue to support the Chinese biomedicine market in its development and exploration into deeper areas," said Dr. Wang Xin.       Dr. Wang Xin further emphasized the importance of patents, pointing out that like most technology industries in China, early patent layouts of Chinese biopharmaceutical companies were not perfect. In the face of global patent challenges, they also lack suitable talent and mechanisms to ensure compliance.    For example, Zanubrutinib, an innovative drug independently developed by BeiGene, a leading domestic innovative drug company, encountered setbacks in the US with AbbVie The incident of AbbVie's subsidiary suing for patent infringement is essentially a global market challenge to Chinese pharmaceutical companies using patent tactics for business purposes.   Going global is one of the main focus areas for biopharmaceutical companies at present, and it is also an important moment for Chinese domestic biopharmaceutical companies to prove their R&D capabilities in the global market. This poses a significant challenge to local enterprises. There are differences in the originality and protection regulations of pharmaceutical patents among different countries. Chinese companies not only need to strengthen their internal awareness of intellectual property protection but also establish and maintain their intellectual property rights internationally. At the same time, they should better understand international legal situations to adapt to complex litigation procedures in countries such as the United States.     Finally, Dr. Wang Xin concluded, "In the year 2023, due to the pressure brought about by the external macro environment, China's biopharmaceutical industry faces numerous challenges and uncertainties. 'Seeking change within the midst of stability, and preparing for a comeback after a period of stagnation,' biopharmaceutical companies are finding new support and balance amidst periodic fluctuations. With the industry's development stabilizing, corporate strategies maturing, and resource allocation becoming more perfect, I believe that more industry opportunities and market opportunities will eventually emerge in the coming year."     Dr. Wang Xin (left) and Academician Chen Kaixian (right), an expert in drug research and a member of the Chinese Academy of Sciences, from the Shanghai Life Sciences Institute of the Chinese Academy of Sciences

China Medicine Developers Conference " 722 "Restarting China's pharmaceutical R&D, accelerating review and approval processes, medical insurance reforms, policy incentives, capital support, the pressure of centralized procurement, and joining ICH Under the favorable situation of aligning with international standards, China's pharmaceutical research and development has accelerated. CDE accepted 1 New drug-like IND Number of Varieties 2017 year 208 The number has increased to 2021 year 953 one, 4 An increase of 3.6 After that, it enters a stable state. Over the years, by introducing international advanced scientific research achievements, China has rapidly enhanced its pharmaceutical R&D capabilities. However, now, China's pharmaceutical research is shifting from mere input to a combination of input and output. Pharmaceutical products independently developed by Chinese enterprises are frequently going global, recognized by international leading pharmaceutical companies and purchased at high prices. Currently, China's pharmaceutical R&D has entered a new stage. With the increasing market launch of innovative drugs, the commercialization and internationalization of these drugs have become focal points. Only by quickly recovering research costs and achieving profitability can a virtuous cycle of R&D be realized.   In order to further promote the R & D technology level of domestic pharmaceutical enterprises, Pharmaceutical Knowledge 2024 year 1 month November - December The China Medicine Developers Conference is held in Chengdu on the day 2024 The 'Western China Innovation Summit' includes a main forum and nine sub-forums held concurrently, focusing on new drug research and development and process studies of protein drugs, antibody drugs, and small molecule chemical drugs.   Frost & Sullivan Frost & Sullivan Chen Zhenrong, Consulting Director of the Life Sciences Business Unit of Frost & Sullivan in Greater China, was invited to attend the conference and participate in the development sub-forum of conjugated drugs. He also shared his views on “ ADC Keynote speech on "The Global Market Structure and Trends of Pharmaceuticals".   Chen Zhenrong briefly introduced the current global and Chinese situation ADC Overview of drug research and development. From the currently approved ones ADC In terms of drug status, as of now, globally 15 model ADC The drug has been approved for marketing, starting from 2019 Since the beginning of this year, with outstanding clinical manifestations, ADC The drug has seen a peak in intensive approvals and launches. At the same time, globally, there are currently more than 300 an ADC Candidate drugs have entered or completed clinical trials. Although most drugs are still in the early research and development stages, globally, ADC Drugs have demonstrated a rich diversity, covering multiple classical and emerging targets. In recent years, China ADC The number of clinical trials for drugs stands out particularly in the global proportion. In terms of target distribution, China's overall trend is highly consistent with that of the world. Domestic clinical research is ongoing ADC Among the companies with a large number of new drugs, Hengrui Medicine relies on its HER2 and Trop-2 has attracted much attention due to rapid progress at the target site. Meanwhile, companies such as Duoxi Biotech and Bio-Thera have also ADC The field has made remarkable progress. In terms of specific indications, all of China's current ADC Clinical trials are concentrated in the field of oncology treatment. Chen Zhenrong pointed out that since 2020 starting from year ADC Investments in the sector have begun to enter a stage of explosive growth. Especially in China. ADC The primary market financing in the sector has always maintained a high enthusiasm. Even in a more severe market environment, there is still capital willing to invest in outstanding ADC Drug R&D enterprise support. In addition, globally ADC The authorization and licensing transactions in the field are also showing an active trend. Judging from the data of the past few years, ADC The number of events for domain authorization licensing transactions since 2021 It has been increasing continuously since year "Enter 2023 year, ADC The development of the field shows new trends, such as target innovation becoming mainstream, combined immunotherapy, and the continuous expansion of multinational enterprise layouts. ADC Medications are known for their precise targeting. It is believed that with the joint efforts of pharmaceutical companies, the future ADC Drugs can not only be further developed in the field of tumor treatment but also make breakthroughs in other treatment areas." said Chen Zhenrong.   Finally, Chen Zhenrong mentioned that Frost & Sullivan is preparing to write the 'Blue Book on the Current Situation and Development Trends of the Conjugated Drug Industry', aiming to provide an overview of the conjugated drug field (including ADC , RDC , PDC , SMDC Conduct in-depth analysis, comprehensively elaborate on its structure, mechanism of action, marketed drugs, research pipelines, market scale, capital enthusiasm, etc., from multiple dimensions. Track the development context of the industry and technology, explore the huge potential for industry development, and analyze the driving factors behind market development.   Frost & Sullivan's Life Sciences Practice is now inviting partnering pharmaceutical companies to participate in the Blue Book Jointly explore the development direction and prospects of conjugated drug fields.       👉 Cooperation Invitation | Frost & Sullivan to Release 'Blue Book on the Current Situation and Development Trends of the Conjugated Drug Industry'     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 science 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 extensive project experience in various subfields of life sciences. Project types include Knowledge Center projects (in-depth content, promotional activities). Pre-IPO financing project DCF model Valuation, Business Plan Services), IPO listing We provide listed projects (industry consulting, clinical audits, fundraising writing), market research, market value management, strategic consulting, etc. 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, attracting widespread attention from investors.

2024 Innovation Summit on Investor Relations of Listed Companies 2024 year 1 month 11 Today, from the roadshow and its subsidiary brand EXCELSIOR IR Co-hosted “Dawn in the East· 2024 Innovation Summit on Investor Relations of Listed Companies and the 7th China Excellence IR The awarding ceremony ” was successfully held in Shenzhen, Excellence IR Gather together. China Ping An, BYD, BGI, China Unicom, Foxconn Industrial Internet, and others 200 Representatives of listed companies attended, including those from PetroChina, Clarendon Arbitrage Swiss Bank, China Ship Lease, etc., nearly 20 Key industry guests gather in Shenzhen to celebrate the industry's grand event.   "China excels IR The annual selection ” results were announced at the 7th China Excellence IR The award ceremony was grandly unveiled. As a global growth consulting firm, Frost & Sullivan specializes in global capital markets and corporate consulting services. 2023 In [year], Frost & Sullivan continued to work hand in hand with [company name] on roadshows across sectors such as industry collaboration, strategic partnerships, and research support, achieving excellence IR Provides in-depth support for the investor relations work of listed companies, and IR Workers grow and are empowered. After being reviewed by multiple authoritative experts, Frost & Sullivan has been awarded the title of 'The 7th China Excellence in... IR Selecting the Best Partner" The selection is based on the roadshow and its subsidiary brand, EXCELSIOR. IR Initiated, it is the only annual award in China that focuses on frontline practitioners in investor relations of listed companies and outstanding investor relations projects. In the past six editions of the selection, over a thousand IR Workers participated in the evaluation. Dozens of mainstream financial media reported throughout the process, with the exposure reaching tens of millions across the internet. This selection has also become a focal point for domestic listed companies. IR One of the most influential sectoral selections. Wang Chenhui, Partner-in-Chief and President of Frost & Sullivan Greater China, and Co-founder and President of LeadLeo, was invited to attend the summit and participate in roundtable discussions. Founder at the roadshow, CEO Under the hosting of Chen Ying, together with TradeGo and Wan Yong, Chairman of Cloud Technology, and the Founder of Kuanbang Technology, CEO Liang Ju, Founder and CEO Li Luodan together, Discuss relevant topics of "Digital Financial Ecosystem and Financial Technology Innovation" together. Wang Chenhui Managing Partner and President of Frost & Sullivan Greater China Region, Co-founder and President of LeadLeo With the advent of the digital age, fintech has become an important trend in the industry. It has changed the business model and operational methods of the industry, having a profound impact on aspects such as the efficiency of financial services, risk control, security assurance, and user experience. Regarding the connotations and boundaries of concepts such as digital finance and fintech, there have also been many discussions in academia and industry recently. During the roundtable discussion, the guests shared their experiences related to fintech, as well as their revolutionary innovative applications in the field of fintech; they also discussed the perspectives on listed companies IR Speaking of which, what are the most valuable things for the company you work for, and at the same time AI What the times can be acquired by investors. Wang Chenhui's main viewpoints are as follows: Current research efforts on empowering investor relations of listed companies include three forms: value mining, value sorting, and precise communication. In response to the core pain points and needs in uncovering the value of listed companies, Frost & Sullivan has joined hands with LeadLeo to provide value discovery and precise communication solutions tailored to the content forms and distribution channels that institutional and individual investors pay attention to. This aims to enhance individual stock attention in the secondary market, expand corporate influence, shape investors' positive expectations for the company's future, and maximize corporate value in investors' minds.   Wang Chenhui pointed out, in the wave of a new round of technological revolution, AI Riding on the wave that's sweeping through all industries. How to leverage it AI Enable the transformation and development of our own businesses, through AI Combining with research to empower listed companies better IR The work is an important area that Frost & Sullivan and LeadLeo are exploring. Wang Chenhui introduced that currently, Frost & Sullivan's Greater China region is taking the lead in promoting innovation in research models in China, moving from closed to open-source research. This allows the market to see both the research conclusions and the research tracing process, truly realizing the guidance of production and investment based on research, breaking free from the bondage of 'emphasizing brands over research', and establishing a system of 'emphasizing research over brands'. Based on advanced digital technologies such as big data, artificial intelligence, blockchain, and cloud computing, 2020 In [year], Frost & Sullivan, in collaboration with LeadLeo, pioneered an open-source, multi-party collaborative, scalable AI-based research platform - 'BrainPower' Knowlengine ™”Knowledge Management and Research Assistance KaaS The system can assist analysts in conducting research efficiently, intelligently outputting research reports, and managing knowledge and tracking data throughout the research process, ensuring that both research efficiency and quality are simultaneously improved. 2022 In [year], Frost & Sullivan, in collaboration with LeadLeo, built China's leading original enterprise research content multimodal search engine and entry database - the LeadLeo entry report. Wang Chenhui pointed out, 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. This is from a research perspective. AI How to Empower IR One of the areas that is very worth exploring and paying attention to in terms of work. Finally, Wang Chenhui stated that with the popularization of digital research tools and research capabilities, listed companies' IR Work will also develop in a direction that pursues higher quality, sustainability, and transparency. It is believed that truly valuable listed companies will stand out, and more small and medium-cap listed companies will be recognized.   "Rather than worrying AI The rapid development of large models is subverting research and consulting firms. It would be better if we take the initiative to get involved right away. In the future, Frost & Sullivan and LeadLeo will continue to explore. AI Research on listed companies IR The potential for work empowerment is continuously optimized and innovated. With more solid content and data, in more diverse forms, we help investors focus on and grasp the core value of enterprises, thereby enhancing their future expectations of the companies." said Wang Chenhui.

openGauss Summit 2023 2023 year 12 month 28 On the same day, themed "Gathering the Innovative Forces of Databases to Build the Data Foundation for All Industries", openGauss Summit 2023 Held at the Beijing Wangjing Kempinski Hotel. This conference is guided by the Software Institute of the National Industrial Information Security Development Research Center, the China Software Industry Association, and the Database Professional Committee of the Chinese Computer Federation. openGauss Hosted by the community. The conference site gathered a group of industry leaders, with continuous highlights. Participants came from various fields including industry, academia, research, and application. 20+ Key speakers will discuss together openGauss Technological innovation for multiple scenarios, sharing based on openGauss Industry joint innovation achievements and business practices.   At the meeting, Frost & Sullivan Frost & Sullivan Frost & Sullivan, the market research and consulting firm, has officially released its 'Research Report on Database Applications in Key Industries'. Yang Xiaocheng, Partner and Managing Director of Frost & Sullivan Greater China, attended the meeting and interpreted the report, sharing insights into the development and industry applications of relational database industries in China. Partner and Managing Director of Frost & Sullivan Greater China Region Yang Xiaocheng   Yang Xiaocheng first analyzed the current situation of relational databases. He pointed out that currently, the database industry in China is in a state of flourishing diversity and competition among various brands. Local brands are beginning to rise in prominence, and the total share of the top five domestic manufacturers has increased from 2018 year 27.1% rise to 2022 year 55.4% .   Domestic manufacturers mainly adopt three development routes: second-party development based on overseas open-source code (upstream compatibility), independent self-developed routes, and routes based on domestic free open-source technology and independent root communities to develop domestic databases. To further promote the independent innovation and development of independent intellectual property rights for domestic databases, domestic manufacturers have begun to build independent open-source root communities and create database products and industrial ecosystems with independent intellectual property rights. Source: Analysis by Frost & Sullivan Data shows that as of 2022 At the end of the year, there were nearly 260 Enterprises have joined openGauss Community, through Huawei's openGauss This non-cloud database is at 2023 In China, the number of new installations of non-cloud offline centralized databases in industry applications reached 3.09 Ten thousand sets, and they dominate 21.9% From the market share, we learned that currently openGauss The open-source community has become an important aspect that cannot be ignored for domestic databases. Source: Analysis by Frost & Sullivan   Subsequently, Yang Xiaocheng analyzed the development trends of database technology. He stated that the development of databases in the era of big data faces multifaceted challenges, but it also provides more development opportunities for database technology. Firstly, in order to meet the needs of modern computing environments such as cloud computing and big data processing, as well as the unified management requirements for structured, semi-structured, and unstructured data, future database architectures will evolve towards separation of storage and computation, resource pooling, and multimodal development. Second, it can be supported simultaneously OLTP and OLAP database Transaction analysis and processing of scenarios HTAP Both databases and distributed databases capable of handling large-scale data processing and implementing data updates will see rapid development opportunities. Thirdly, in addition, AI Enabling databases to be an important direction for the future development of technology, integrating machine learning with data management functionally to achieve automated processing of various tasks. At the same time, each database is utilizing hardware acceleration, and the synergy between software and hardware has become the key to improving database efficiency. Source: Analysis by Frost & Sullivan   According to Yang Xiaocheng, the application trend of domestic databases in industries such as finance, telecommunications, government, and manufacturing in China is becoming increasingly evident, and the share of domestic products is also increasing year by year.   Among them, the financial industry is also the largest industry user of database markets in China, with domestic databases accounting for 48.5% The core database platform of the telecommunications industry can adopt advanced database platforms such as database integrated machines, and the general system localization rate accounts for 45.3% The government industry database market sales scale ranks second in the entire industry, only behind the financial industry, accounting for 20.7% In terms of industry market share, the proportion of general system domestic databases is as high as 53.3% Databases play a crucial role in the digital transformation of manufacturing. The proportion of general system domestic databases can also reach 42.3% .   With the transformation and in-depth development of the digital economy across various industries in China, the demand for database markets continues to grow, and domestic databases will further accelerate their replacement of foreign brands. Source: Analysis by Frost & Sullivan When talking about the application trend of relational databases in various industries in the future, Yang Xiaocheng pointed out that, first of all, at present in China 14 Key industry customers have started innovative transformation of application systems, and database applications in key industries have penetrated from general systems to core systems. Secondly, centralized databases remain the mainstream, while distributed databases can meet high data processing requirements and have become a rising star in the database field. In addition, how to manage data flowing through various applications has become one of the most urgent challenges for enterprises. Finally, there are more and more database migration engineering cases, and migration solution theories are becoming increasingly mature. Source: Analysis by Frost & Sullivan   "Currently, the challenges faced in deepening industry applications include the difficulty of migrating and replacing industry applications, the scattered layout of industrial ecosystem forces, as well as the urgent need to solve industrial risk issues and the shortage of professional R&D talents in databases."   Yang Xiaocheng further added, 'Specifically, in response to the issue of insufficient core technical capabilities, we can strengthen original technological innovation to promote the development of new technologies and models. Regarding the pain point of great difficulty in migrating and replacing industry applications, this can be solved by deepening the industry application traction mechanism. To improve the dilemma of scattered industrial ecosystem forces, we can optimize the industrial development environment and encourage all participants to collaborate in advancing industrial ecosystem construction. There is an extreme shortage of high-end talents engaged in core design domestically, and we need to increase the cultivation of R&D personnel to promote an increase in talent in the database industry.' Source: Analysis by Frost & Sullivan

Artificial Intelligence 2023 The year belongs to large models.   2022 year 11 month, United States AI company OpenAI Publishes its large language model-based AI chatbot program ChatGPT Within just two months after its release, ChatGPT Monthly active users exceed 1 Yi has become the consumer app with the fastest user growth rate in history. As a result, the technology industry has seen a surge in large models.    Chinese technology companies are quickly catching up. Data from the CCID Research Institute of the Ministry of Industry and Information Technology shows that currently, there are more than 19 A language large model R&D provider, among which, 15 The model products of the home manufacturer have passed the filing process, and it is expected 2023 The market scale of language large models in China will reach 132.3 Yuan, with a growth rate that will reach 110% . Is the application direction of large models an advantage for domestic enterprises?   Since the second half of the year, there has been an increased emphasis on application implementation. What are the common difficulties in commercialization? How do you view the future development trend of large domestic models? Frost & Sullivan Frost & Sullivan Li Qing, Director of Frost & Sullivan Greater China, was interviewed 21 Financial interview, jointly discussing the future development of large models in China. 21 Finance and Economics Q Is the application direction of large models an advantage for domestic enterprises? In fact, this should be a point that domestic enterprises need to address. Compared with Europe and America, the penetration rate of software-based applications in China is still relatively low. Overseas, applications based on large models are already very rich. However, domestically, people are currently focusing on optimizing based on large models themselves. On one hand, applications integrate the capabilities of large models with existing products, and on the other hand, they are re-platforming scenario-based applications related to large models. Currently, we see many applications choosing the second approach, but the second option faces the problem of weak data foundations in the early stages. Precisely because of this, it also AI The application market has brought about tremendous development opportunities. Q Since the second half of the year, more emphasis has been placed on application implementation. What are the common difficulties in commercial implementation? First and foremost, we still need to solve the chip problem. If there is no breakthrough in computing efficiency and computing power, in some highly difficult and complex scenarios, AI The optimization and upgrade iterations of large models still have a certain gap compared to overseas. Globally, large models are evolving rapidly with frequent iterations. At the same time, development tools based on large models are also becoming increasingly sophisticated, which is an area that needs strengthening in China. In terms of commercialization itself, although the emergence of large models has reduced AI The threshold for applications, but how to align your business and commercial scenarios with AI The logic matches, and how to seek AI Value innovation, rather than merely reflecting efficiency, may be an issue that needs consideration in current advancement. If large models cannot be used flexibly or fully adapted to one's own business scenarios, it may be difficult to achieve the goal of cost reduction and efficiency improvement to a certain extent. Q What is your view on the future development trend of large models in China? Firstly, after large models emerge, there will gradually be an oligopoly trend. Due to limited computing power and the homogenization of large models, computing and data resources will become concentrated in the future. Some large models with low value will also gradually be phased out. Secondly, in the field of text creation, a number of related applications will emerge, as the demand for text creation in China is currently high, which benefits from the country's vast understanding and application scenarios of text. At the regulatory level, there may still be an appropriate allowance. When large models were first introduced, due to their relatively vague understanding and future applications, a strict strategy was adopted at the beginning. However, as applications emerge and differences between domestic and international practices become apparent, the regulatory authorities may provide appropriate flexibility to support the development of the industry. *   This interview was published in 21 Finance and Economics The reporter is Dong Jingyi, and the original title is:   Surge AIGC | The Battlefield of Technological Competition: As the Bubble Erupts, Where Lies the Future for Domestic Large Models?   ">

GLP-1 Separation and Purification Technology Symposium With the continuous growth in demand for hypoglycemic and weight loss treatments, coupled with the expansion of more indications for chronic diseases, Novo Nordisk's semaglutide and Eli Lilly's tiraparib have become the most sought-after treatments this year. Behind them GLP-1 The track has received unprecedented attention. domestic GLP-1 The target track is filled with the smoke of war, and the weight-loss concept stocks in the secondary market have also seen a surge in stock prices amidst the attention of many investors. However, under the fierce competition where the SGLP-2 brand has taken root in people's hearts and telboprost has been approved not long after, how can one find market opportunities? FDA , EMA warning GLP-1 How can we balance security risks? 12 month 23 On the same day, Tongxie United with NavInfo Technology held the “ GLP-1 The Symposium on Separation and Purification Technology" was specially invited 70 Industry leaders discuss together GLP-1 The development strategy aims to assist the local polypeptide drug industry in achieving more substantial development in the future.   Frost & Sullivan Frost & Sullivan Mao Hua, Partner and Managing Director of Frost & Sullivan's Greater China Region, was invited to attend the event and delivered a keynote speech on 'Analysis of the Current Situation and Development Trends of the Global Peptide Drug Market'. Partner and Managing Director of Frost & Sullivan Greater China Region fattening   Mao Hua pointed out that peptide drugs have high specificity and safety. With the continuous development of synthesis technology and the reduction in production costs, more blockbuster products will emerge.   Looking at the development of peptide drugs globally, peptide drugs were initially used in the field of diabetes treatment. However, with the development and innovation of new peptide drugs, their application areas have been continuously expanding. In recent years, they have gradually extended to the field of obesity, achieving an important transformation. In China, peptide drugs have started from insulin and moved towards new GLP1R In the development of pharmaceuticals, Huadong Medicine's liraglutide has been approved for both diabetes and weight management, aligning with international standards in peptide drug research and development in China.   According to Frost & Sullivan research, in the disease area, oncology and digestive system diseases are developing steadily, while interest in immunology, neurology and reproductive system diseases is on the rise. Among the research and development targets GLP1R Highest popularity.   global GLP1R The peptide drug market is growing rapidly, 2021 Annual achievement 170 billion US dollars, and it is expected to 2030 Will reach in 908 billion dollars. GLP1R The growth rate of the peptide drug market has driven rapid expansion in this sector. 2021 Already reached 677 billion dollars, in GLP1R Under the continuous impact of peptide drugs, it is expected that the overall peptide drug market 2030 Annual reach 2,108 billion dollars.   At the same time, the market scale of peptide drugs in China has been increasing year by year with the global market scale, and its proportion in the global peptide drug market scale has remained at a constant level for many years. 15% left and right. The Chinese peptide drug market started relatively late. As of now, a total of 37 The number of new peptide drugs in China, including multiple peptides 5 model "Although there are fewer domestically approved peptide drugs, the dual increase in the number of equivalence studies and local companies' clinical applications proves that China's peptide drug industry is booming, and local peptide bulk drugs and CDMO company Leading enterprises have also developed global competitiveness. Due to China's large population base with broad demand, coupled with limited production capacity of imported products, there is still a significant gap in the demand side. It is expected that with the approval of new products and the launch of generic drugs, the future development space for China's peptide drug market is broad,” Mao Hua said.   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 the global think tank resources of Frost & Sullivan 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 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, promotional activities). Pre-IPO financing project DCF model Valuation, Business Plan Services), IPO listing We provide listed projects (industry consulting, clinical audits, fundraising writing), market research, market value management, strategic consulting, etc. We also cooperate with well-known domestic and international information platforms and investment and financing institutions to provide one-stop solutions for enterprises in specialized fields such as pharmaceuticals and medical devices. Our services have received wide attention from investors.

An official report shows that "high-quality development" and " ChatGPT "Elected separately 2023 The annual domestic and international terms echo the development process of China's semiconductor industry this year. After Huawei, which has been subject to US sanctions, made advanced process breakthroughs, the Chinese semiconductor industry aims for higher-quality development in order to compete more effectively in the increasingly fierce artificial intelligence ( AI ) Take the lead in the competition. For independently developed in China AI What are your views on the chip landscape and progress? As AI With technological progress, including the release of numerous large models by Google and many manufacturers, the industry landscape has 2024 What are the prospects for the New Year?   AI The advancement of the revolution, 2024 What is the outlook for the impact of the year on China's capital market? Frost & Sullivan Frost & Sullivan Cui Nan, Executive Director of Frost & Sullivan Greater China, was interviewed by Reuters to discuss the wave of artificial intelligence industry development in China. Reuters News Q AI The chip is currently a 'strategic battleground' that all countries compete for. Regarding the self-developed chips by China, AI What are your views on the chip landscape and progress?   Chinese government and enterprises AI A large amount of resources have been invested in technological innovation and research and development in the chip field, promoting China's technical strength in independently developing chips. A number of focused efforts are underway AI The emergence of startups in chip R&D and manufacturing has driven AI The competition in the chip industry has stimulated industry innovation and achieved remarkable breakthroughs in some areas. At the same time, these enterprises have realized through cooperation with universities, research institutions, and other enterprises, AI Joint innovation in the chip field. This collaboration helps accelerate technological progress and improve the overall industry level. At the same time, China has built a vast and complete AI The industrial ecosystem includes chip design, manufacturing, algorithm development, and application. This integration helps to form competitiveness across the entire industrial chain and enhance China's AI The independent innovation ability of the field. However, from the perspective of short-term development, although China AI Significant progress has been made in the chip field, but there are still some challenges, including the gap with international leading companies, the complexity of chip design, and the improvement of manufacturing processes. Q as AI With technological progress, including the release of numerous large models by Google and many manufacturers, the industry landscape has 2024 What are the prospects for the New Year? Industry competition will become more intense as giants like Google and other manufacturers release more large models, intensifying competition but also driving continuous innovation in the industry. This process will inevitably lead to some smaller companies being marginalized or acquired. To remain competitive, companies may seek more cooperation and partnerships, especially in technology development and market expansion. Q AI The advancement of the revolution has an impact on China's capital market, 2024 How should we view the year? Which sectors are promising?   Outlook 2024 year, AI It will be fully implemented and continue to drive investment in China's capital market into technology and digital economy sectors. The investment direction will be focused AI The industrial chain, especially outstanding enterprises in basic computing power and industry applications, are also paying attention to development opportunities for domestic substitution in the industrial chain this year 10 The Action Plan for the High-Quality Development of Computing Power Infrastructure, issued by six departments including the Ministry of Industry and Information Technology, proposes that computing power is a new type of productive force that integrates information computing power, network carrying capacity, and data storage capacity. It aims to provide services to society through computing power infrastructure and plans to 2025 In [year], the computing power scale of our country exceeded 300 EFLOPS , with intelligent computing power accounting for 35% Therefore, domestic AI In terms of computing power, broader development opportunities will emerge. At the same time, with the continuous upgrade of large models in China, AI The development of technology will further integrate with different application scenarios, achieving multi-point blossoming by combining software applications with vertical scenarios. At the same time, it can also be integrated with SaaS The integration of business models unleashes greater market development potential. Q Policies for technological innovation, especially AI What other relatively important and specific supports might there be?   It is mainly reflected in the following aspects: First, by providing financial support, including R&D funds, innovation funds, and tax incentives, to encourage enterprises to AI Innovation in the field helps enterprises reduce R&D costs and encourage more companies to invest in high-risk innovation projects. Secondly, it is necessary to formulate and implement regulations to protect intellectual property rights, ensuring that innovative achievements are fully protected, thereby enhancing the enthusiasm of enterprises for investing in research and development. Thirdly, it supports the training of more technical talents, including providing education and training courses related to artificial intelligence. The government can also take measures to attract high-level international scientific and technological talents and promote technological innovation. Fourthly, the construction of science and technology parks and innovation centers is necessary to provide a favorable environment for research and development and innovation. This attracts talent and enterprises to gather together, promoting cooperation and exchange in technological innovation. Fifthly, enterprises are encouraged to cooperate with international institutions, other enterprises, and research organizations, sharing research findings, experiences, and resources. Open innovation helps accelerate scientific and technological progress and promote coordinated development in the global technology field. *   This interview was published in Reuters News The reporter is Lin Yuhuan, and the original title is:   After Huawei's 'breakthrough' in overcoming US chip sanctions, AI Where will empowered Chinese semiconductors advance?   ">

Recently, IPO Early Knowledge released the "Top 100 Best IPO Investment Institutions of 2023", "Best Investment Institutions of 2023" and "Best IPO Service Providers of 2023" lists. Frost & Sullivan has been awarded 'Best Industry Research and Consulting Firm for IPOs 2023'.   Meanwhile, according to LiveReport's big data statistics, Frost & Sullivan is the industry advisor that has completed the most IPO projects in the Hong Kong stock market in 2023, leading the 2023 Hong Kong IPO intermediary service provider rankings.   As a global growth consulting firm, Frost & Sullivan integrates 63 years of consulting experience across the world. Over the past 26 years, it has dedicated itself to serving the booming Chinese market with a global perspective, helping clients accelerate their business growth, achieve industry-leading benchmarks in growth, innovation, and technology, and realize capital operation goals such as financing and listing.   Frost & Sullivan deeply engages in global capital markets and corporate consulting services. By pioneering 'Total Investment Management (TIM)', it provides comprehensive investment and financing as well as various other professional consulting services for enterprises, including investment and financing CDD, valuation services, technology consulting, financial consulting, ESG, fundraising and investment feasibility studies, bond issuance industry advisory, industry advisory, assessment services, award services, industry white papers, strategic and management consulting, planning consulting, and technology insights.   As early as 2003, Frost & Sullivan pioneered the provision of industry advisory services for Hong Kong and overseas listings. It also took the lead in establishing and standardizing the business processes and service standards for industry advisory services in the field of investment and financing, making outstanding contributions to the standardized development of the industry.   In 2023, Frost & Sullivan continued to excel in the field of investment and financing advisory services.   In 2023, a total of 73 new companies were listed on the Hong Kong stock market. Frost & Sullivan assisted a total of 57 enterprises in going public in Hong Kong. In terms of the number of projects, Frost & Sullivan accounted for nearly 80% of the Hong Kong IPO market share in 2023 and is a leader in assisting enterprises with their listing in Hong Kong. From 2014 to 2023, Frost & Sullivan has maintained its leading position as the industry research advisor with the largest market share for Chinese companies listing in Hong Kong.   In addition to the Hong Kong capital market, Frost & Sullivan has also performed impressively in overseas IPO markets. In 2023, Frost & Sullivan assisted a total of 34 companies in going public overseas, including traditional IPOs, SPACs, and GDRs; the listing locations covered the NASDAQ Stock Exchange, New York Stock Exchange, Swiss Securities Exchange, London Stock Exchange, Singapore Stock Exchange, and Luxembourg Stock Exchange.   Among them, Frost & Sullivan has assisted a total of 28 enterprises in going public in the US, with 19 being Chinese companies. In terms of the number of projects, Frost & Sullivan accounts for more than 50% of the market share of Chinese enterprises going public on the US stock market in 2023.   From 2014 to 2023, Frost & Sullivan has maintained its leading position as the industry research advisor with the largest market share in overseas IPO markets. Over the past nine years, it has served more than 1,000 companies planning to go public domestically or internationally, occupying an absolute leading position as an industry advisor for companies seeking overseas IPO listings.   In 2023, there were a total of 9 IPOs in the Hong Kong market raising over HK$1 billion. The two IPO projects with the largest fundraising amounts were Wuxing Hualian (2268.HK) , Jitu Express (1519.HK) In the US market, including NASDAQ and New York Stock Exchange, there were only 2 companies raising over about RMB1 billion, and 13 raising over about RMB100 million. The IPO project with the largest fundraising scale was Hesai Technology (NASDAQ:HSAI) The projects with the largest fundraising scales mentioned above are all supported by Frost & Sullivan.   In addition, Frost & Sullivan's research reports are also widely cited in the prospectuses of listed companies such as A-share companies and those on the Sci-tech Innovation Board, as well as in primary and secondary market research reports and other public documents of capital markets. The brand's awareness and influence are increasing day by day. In 2023, Maolai Optics (688502.SH) , Kanglex (833575.BJ) , Rilian Technology (688531.SH) , Nanjing Xinxin Semiconductor (688484.SH) , Jinghe Integration (688249.SH) , Guangge Technology (688450.SH) , Fuyera (301371.SZ) , Zhejiang Rongtai (603119.SH) , Zhongyan Research Institute Co., Ltd. (688716.SH) , Parallel Technology (839493.BJ) The research reports of Frost & Sullivan are used in the prospectus documents of listed companies.   In 2024, Frost & Sullivan will closely follow national policy guidance, seize the opportunities of the times, continuously improve service quality, and extend its services from high-quality enterprise selection to professional knowledge empowerment, from corporate growth consulting to initial public offerings, from investment and financing matchmaking to market value management. Relying on over sixty years of profound research accumulation in various industries and rich experience in capital market services, it will continue to provide more professional, higher-level, and competitive knowledge services to assist enterprises throughout their entire lifecycle of growth.   In the future, Frost & Sullivan will continue to collaborate with investment banks, accounting firms, law firms, investment institutions and major exchanges to help more high-quality enterprises successfully list on the capital market, jointly create social value and promote the healthy development of the Chinese economy!

Recently, the National Food Safety Standard Review Committee issued 21 National Food Safety Standard (Draft for Soliciting Opinions), which includes three categories of food products: 'Pasteurized Milk', 'Ultra-high Temperature Sterilized Milk', and 'Sterile Milk'. Why are these three food standards being revised? What impacts are expected to arise? What are the significant implications? The draft for soliciting comments has removed the restriction on 'beef and mutton' from the product definition. What positive effects does this have on the development of the dairy market? What is the significance of the revised draft for soliciting comments on the national standard for 'Ultra-high Temperature Sterilized Milk'? What are the advantages of dairy products mixed with reconstituted milk compared to pure fresh milk or pure cow's milk?   Frost & Sullivan Frost & Sullivan Frost & Sullivan's consulting advisor in Greater China, Zhu Renjie and Liu Yaoqian, were interviewed by Blue Whale Finance and jointly interpreted    Draft for Soliciting Opinions on the Revision of Three National Standards for Dairy Products and Their Implications   * Click "Read the Original Article" at the end of this text to read the full report. Blue Whale Finance Q Recently, the National Food Safety Standard Review Committee issued 21 The National Food Safety Standard (Draft for Soliciting Opinions) includes three categories of food products: 'Pasteurized Milk', 'Ultra-high Temperature Sterilized Milk', and 'Sterile Milk'. Why are these three food standards being revised? What impacts are expected to arise as a result? What are the significant implications? The purpose of revising these three food standards is to improve food safety and quality standards, ensuring that consumers obtain safer and higher-quality dairy products. The revised standard content mainly includes clarifying terms and definitions, sensory requirements, physical and chemical indicators, and microbial limits. This will affect production enterprises, who need to adjust their production processes to comply with the new standards. For consumers, it is expected to bring higher-quality and safer dairy product options, increasing consumer trust in products. For the entire dairy industry, these standard revisions will promote healthy development of the industry, improve product quality and safety levels, and facilitate diversified product development. Q The draft for soliciting opinions has removed the 'cattle and sheep' restriction from the product definition. What are the positive impacts on the development of the dairy market? Pasteurized milk and sterilized milk are defined based on cow and goat milk raw materials and can no longer meet market demand. This revision removes the 'cow and goat' restriction from the product definition and adds physical and chemical indicators as well as microbial limits for special dairy products such as buffalo milk, yak milk, camel milk, horse milk, donkey milk, and other specialty dairy animals. Currently, the market demand for special dairy products is gradually increasing in proportion to the products available. After the indicators are refined, it will be conducive to having clearer standards for special dairy products and will also make production and operation more standardized. This move will have four positive impacts on the development of the dairy market: ·          Product innovation and diversity increase: Removing the restriction on 'cattle and sheep' will encourage the use of a variety of milk sources, promote the production of more specialty dairy products, and meet consumers' diverse needs. ·          Market competition enhancement: Expanding product range motivates dairy companies to compete, driving improvements in product quality and innovation capabilities. ·          Local characteristic development: Supporting special dairy livestock and products may become a local characteristic industry, promoting local economic growth and employment opportunities. Increased consumer choice: Consumers now have more options to taste different milk sources, enhancing their satisfaction and loyalty. Q What is the significance of adding "reconstituted milk is prohibited in pure milk"? Does it have a significant impact on the current market of pure milk?   The biggest highlight of the revision of the national standard for 'Sterile Milk' is the removal of the use of reconstituted milk as a raw material. , That is, the statement "add or not add reconstituted milk" has been deleted, clarifying that "only raw milk of a single variety" will be used as the raw material. At the same time, the identification regulations regarding reconstituted milk have also been removed. And pasteurized milk has long been 2005 The 'Notice on Issues Concerning the Labeling of Reconstituted Milk' issued in [year] proposed that no reconstituted milk should be added to pasteurized milk, and the use of raw milk was encouraged. Reconstituted milk, also known as reduced milk, refers to a liquid made by adding a certain amount of water or milk to dried milk powder. Although there is a certain loss in bioactive substances, it was often used in the past to replace scarce milk sources. However, this situation is now relatively rare. This revision has not had a significant impact on pure milk on the market, as it is not common to find pure milk products that contain reconstituted milk. Q I visited some offline supermarkets and found that there are not many cases of using pure milk made from reconstituted milk. Why is this? Firstly, in recent years, the prices of domestic raw milk (fresh milk, dairy sources, raw milk powder) have been declining. Large dairy companies do not need to reconstitute milk powder into liquid milk for production, which leads to increased costs. Therefore, there are not many enterprises that use reconstituted milk to produce pure milk. Secondly, research has confirmed that the higher the degree of thermal damage, the lower the active nutrients in milk. Compared to other types of liquid milk, the bioactive substances such as immunoproteins, active enzymes, and active peptides are relatively severely lost in reconstituted milk. Q Currently, is there a situation within the industry where 'super milk' follows its own corporate standards? What are the drawbacks to such practices? What is the significance of the revised draft for soliciting opinions on the national standard for 'high-temperature sterilized milk'?   There are indeed instances in the industry where individual company standards are implemented. "Ultra-pasteurized milk" is a common industry term, and there are ambiguities regarding which standards it should follow. Due to the lack of a unified standard, "Ultra-pasteurized milk" sold in the same refrigerated area as traditional pasteurized milk actually follows enterprise standards, and the product's outer packaging generally indicates "high-temperature sterilized milk" (based on the State Administration for Market Regulation). 2020 year 2 The "Announcement on Revising and Announcing the Classification Catalogue of Food Production Licenses" issued in [month]: "Ultra-high temperature sterilized milk". However, there are no clear limit values for the sterilization intensity and microbial indicators of such products. For example, some dairy companies stipulate in their enterprise standards for "ultra-high temperature sterilized milk" that it needs to be heated to at least 100 Centigrade Celsius and sterilization should be maintained for a very short time; there is no specified upper limit for sterilization temperature. Some other dairy companies specify that the sterilization temperature for high-temperature sterilized milk is 85 - 132 ℃, maintain 1 Seconds 15 Seconds, etc. The enterprise standards implemented are very broad. The revised draft for soliciting opinions on the national standard for 'High Temperature Sterilized Milk' has clarified the index definitions, equivalent evaluation methods, testing methods, etc., for such products. It provides an important reference and basis for enterprises in the industry to standardize production and fills a gap in domestic standards. Q What parts of the draft for soliciting opinions on the new national standard for 'High Temperature Sterilized Milk' do you think need to be revised?   The draft for soliciting opinions on the new national standard for "High Temperature Sterilized Milk" has been 3.3 The physical and chemical indicators specify cow's milk (3.3.1) and other milks (3.3.2) Physical and chemical indicators for high-temperature sterilization that should be met. Frost & Sullivan believes that following the deletion of the 'animal' restriction in product definitions from this draft for soliciting opinions, more differentiated and refined indicator standards can be introduced for specialty milks (water buffalo milk, yak milk, camel milk, horse milk, donkey milk) in the future. Considering the different characteristics that dairy products from different protein sources may possess, it is considered necessary to develop more targeted high-temperature sterilized milk indicators (such as pollutant limits, mycotoxin limits, microbial limits, etc.) for each type of dairy product to ensure that the standards are more scientific, reasonable, and practical. Q What are the advantages of dairy products mixed with reconstituted milk compared to pure fresh milk or whole milk? During the period when domestic raw milk prices are high, dairy products mixed with reconstituted milk may offer a more competitive price and be an economical choice. Reconstituted milk is processed more thoroughly, making it easy to transport and store; whereas pure fresh milk requires cold-chain storage, which has higher transportation costs and process requirements, thus making it the most expensive; room temperature pure milk has lower storage requirements and its price is at a moderate level. In addition, although reconstituted milk does not match the taste and flavor of fresh milk, it can supplement some of the basic nutrients in milk. *   This interview was published in Blue Whale Finance The reporter is Zhang Jinglun, and the original title is: 'Three   National Standard Revision for Dairy Products: 'A Mixed Bag' of Specialties Will Be Regulated, and Ultra-Fortified Milk Will Face Its First National Standard   ">