Measuring the market through real research, predicting the future with AI intelligence On May 24th, co-hosted by Gaodun Education & SULLIVAN & Alibaba Cloud Frost & Sullivan & LeadLeo Research Institute "2026 4th National College Students Future Prediction Research Competition" the national finals concluded successfully at Hangzhou Alibaba Cloud Valley Park. Starting from 1,743 teams gathering, to 579 teams advancing to the semi-finals, and finally reaching the top ten finals, this top-tier college student industry research competition that lasted nearly two months finally reached its highlight moment. This year’s competition continued the core concept of “AI + Industry Research”, focusing on real business challenges and cutting-edge industry trends, and innovatively introduced virtual-real combined market research, Workflow workflow and Skills system construction, and practical sessions such as AI question answering. The event was co-hosted by Gaodun Education, SULLIVAN, and Alibaba Cloud, led by LeadLeo Research Institute with support from brands and media including Xintu, Juzi Biology, Harvard Business Review, FT China, Shinrui Technology Review . College students from various universities responded to contemporary issues through professional research, exploring future directions in real markets and industry changes, showing the deep understanding and forward-thinking of contemporary college students in the business world. 01 Highlights of the finals: A young expression on “future research” At the finals, representatives from hosts Gaodun Education, SULLIVAN, and Alibaba Cloud, along with many guests from universities, industries, and media, attended. Mr. Wang Chenhui, Partner and President of SULLIVAN China presented a talk titled “Black Boxes, Responsibility Absorbers and Poland’s Paradox: Three Barriers and Trust Restoration in AI Implementation in Consulting Industry”, discussing industry trust and talent core competitiveness under AI technological changes. *Mr. Wang Chenhui, Partner and President of SULLIVAN China Professor Cui Lili, Deputy Dean of the Digital Economy Research Institute at Shanghai University of Finance and Economics, also attended and delivered a speech titled “Be the Anchor of Value in the AI-Reconstructed Era”, offering three practical suggestions for college students in the AI era. *Professor Cui Lili, Deputy Dean of the Digital Economy Research Institute at Shanghai University of Finance and Economics Ms. Li Zhujun, Head of AI Talent Development for Universities at Alibaba Cloud not only recognized the innovative insights and practical potential of the participating teams, but also pointed out the advanced direction for business analysis and research implementation based on real industry needs. *Ms. Li Zhujun, Head of AI Talent Development for Universities at Alibaba Cloud With the start of the competition, the top ten teams conducted final presentations around their research topics, presenting a fascinating exchange on industry trends, business insights, and future consumption. The participants not only produced high-quality industry research reports but also, within limited time, using PPT and HTML visual web pages presented the research logic, core viewpoints, and innovative results on-site, and answered sharp questions from judges and AI judges on-site . Professional judges from enterprises, media, and industry fields participated in scoring, making the competition closer to real business environments. *Presentations of the ten finalists *Presentations of the ten finalists After more than three hours of exciting competition, finally, Mr. Nan Shan, Market Media Director of Juzi Biology, and Ma Zhenmin, Editor-in-Chief of Harvard Business Review’s New Media, provided a deep review and summary of the participants’ performance. *Mr. Nan Shan, Market Media Director of Juzi Biology *Ms. Zhuang Nana, Brand Strategy Director of Xtep This competition is not only a arena for abilities but also a growth classroom where young students engage in dialogue with industry frontiers and connect with the real business world. *Ms. Ma Zhenmin, Editor-in-Chief of Harvard Business Review’s New Media 02 The honorable list is announced, Congratulations to all winning teams Below are the winners of the “2026 Future Prediction Research Competition” finals. Once again, congratulations to all winning teams and participants! Once again, congratulations to all outstanding participating teams! We believe every late-night effort and every thought exchange is a breakthrough for oneself. 03 Why are more and more college students participating in the Future Prediction Research Competition? Today’s young people are no longer satisfied with just “knowing about industries”. They hope to understand industry logic, identify consumer trends, build business thinking, improve data analysis skills, and truly think in a real market environment. And the AI Future Prediction Research Competition provides such a platform connecting campuses and industries. Perhaps the most significant aspect of this competition lies not only in the “research findings” but also in what we are witnessing—the redefinition of industry research methods and young students’ learning abilities in the AI era. From AI-assisted industry information collection, to workflow construction and skill system development, to AI question answering and visual expression, this competition makes “AI + industry research” go beyond concepts and become an important tool for college students to understand industries, analyze markets, and enhance decision-making capabilities. END 2026 GOLDEN FINANCE Thus, the 4th National College Students Future Prediction Research Competition 2026 officially concludes. Thank you to all partners, judges, teachers, university staff, and participants. Also thank you to every college student who invested time, studied the industry diligently, and continuously explored the future. We look forward to meeting you again at the next Future Prediction Research Competition. But at the same time, we can see more clearly: AI can improve efficiency, but cannot replace true insight; models can generate answers, but industry judgment, business logic, and independent thinking always come from human understanding and reasoning. More highlights

Frost & Sullivan Insight AI High prosperity of PCB and technological iteration have led to a sharp increase in the consumption of drill bits for production consumables and price rises, prompting listed companies to expand production significantly. Under this context, what is the current supply and demand situation in this industry? As server technology continues to evolve, how will the mainstream technical routes for drill bits change? Where are the industry barriers? What will be the future development trend? … … Frost & Sullivan Frost & Sullivan, hereinafter referred to as "Frost & Sullivan", Senior Partner and Managing Director Jia Pang gave an interview with Cailian News, discussing AI server PCB micro-drill bits: a real bottleneck or a false proposition. Daily Economic News Q: Recently, some market voices have suggested that the biggest bottleneck in global AI computing power is not chips, optical modules, or advanced packaging, but a drill bit with a diameter of less than 0.2 millimeters—high-layer PCB boards used to carry GPUs rely heavily on high-end micro-drill bits with a length-to-diameter ratio of over 30 times during drilling, and such drill bits are currently extremely scarce. How do you view this assessment? In actual supply chains, does the shortage of these drill bits truly pose a major bottleneck to the mass production of AI servers (such as NVIDIA GB200 series)? Jia Pang Senior Partner and Managing Director of Frost & Sullivan China This assessment has its industrial logic, but the wording needs adjustment —It accurately captures that the manufacturing of AI server PCBs is entering a precision processing bottleneck stage. However, labeling the drill bit as the “biggest single bottleneck” is an exaggeration. From the demand side, Represented by GB200 and NVL72, the new generation of AI servers have 24 to 40 layers of PCBs compared to 12 to 16 layers in traditional servers. Combined with the widespread use of ultra-low loss materials such as M8 and M9, as well as quartz fiber cloth, the material hardness increases, and drill damage becomes more severe, leading to a doubling of drill bits per board. The supply side is highly concentrated, with only a few high-end micro-drill bit manufacturers globally capable of mass production, mainly Japanese companies like Union Tool and Taiwanese Topoint. The tight supply is an objective fact. But from the perspective of overall production, the drill bit is “an implicit bottleneck” rather than a “main bottleneck”. Currently, the core constraints in AI server mass production still lie in CoWoS advanced packaging capacity, HBM supply, high-speed optical modules, and advanced CCL materials. The real impact of drill bits is that as PCBs evolve toward ultra-high layers and high density, the delivery delays and yield fluctuations of drill bits systematically amplify the PCB manufacturing bottleneck, which then affects the delivery timeline of complete machines. It is one of many “long-tail bottlenecks” in the AI hardware industry chain, and its strategic importance is increasing, but it has not yet become a single variable determining the global AI computing power expansion rate. Q: It is reported that The M9 high-frequency material used in AI servers significantly reduces the service life of PCB drill bits, leading to a sharp increase in drill bit consumption and driving price and volume growth in the high-end drill bit market. Compared to ordinary drill bits, what is the price premium and trend of these high-end drill bits? Jia Pang Senior Partner and Managing Director of Frost & Sullivan China High-frequency high-speed materials like M9 improve the fiberglass density, material hardness, and processing difficulty compared to traditional FR-4. During processing, drill bits are more prone to wear, breakage, and rough hole walls, forcing AI server PCB manufacturers to switch to ultra-small diameter, high-length-to-diameter ratio, and coated high-end drill bits. From a price perspective, the premium is considerable. The unit price of ordinary standard drill bits is around 1 to 2 yuan, while high-end products with ultra-small diameter and high-length-to-diameter ratio for AI server PCBs generally cost more than ten yuan, with a premium of ten times or more. Some extreme specification products have even higher premiums. The pricing logic is that high-end drill bits require high-precision cemented carbide substrates, precise coating processes, and strict micro-hole size control, making the manufacturing barrier much higher than traditional products. Judging from trends, high-end drill bits are currently in a channel of both volume and price growth. On the demand side, As the number of PCB layers in AI servers continues to increase and the penetration of M9 materials rises, both factors drive up drill bit consumption per board. On the supply side, global production capacity for ultra-small diameter high-end drill bits is mainly held by Japanese manufacturers, and significant expansion is difficult in the short term. The supply-demand mismatch provides continuous support for prices. Q: How do you view the future growth potential of the high-end drill bit market? What is the key to the next round of competition among the main players in the PCB drill bit industry? Jia Pang Senior Partner and Managing Director of Frost & Sullivan China High-end The medium- to long-term growth logic of the PCB drill bit market is clear and sustainable. The core drivers come from three parallel trends: the generational leap in the number of PCB layers in AI servers, the increase in the penetration of high-frequency materials like M9, and the growing demand for high-layer, high-density PCBs from emerging applications such as high-speed switches and automotive electronics. Compared to traditional consumer electronics scenarios, AI-related PCBs require higher precision, yield stability, and consistency in drilling. Drill bits are evolving from “low-value consumables” to “key tools that affect yield”, and their value and strategic importance are increasing systematically. In terms of product direction, Ultra-small diameter drill bits below 0.2 millimeters, high-performance coated drill bits, and high-length-to-diameter ratio products suitable for high-layer boards will be the main growth areas in the future. The dividing line of the next round of competition has shifted from simply capacity scale to the integrated strength of “materials, processes, and customer validation”. Specifically: coating technology determines the wear resistance and service life of drill bits, which is the core differentiation of products; ultra-small diameter and high-length-to-diameter ratio products require extremely strict requirements for cemented carbide formulations, processing accuracy, and yield control, and process expertise cannot be quickly replicated; high-end drill bits entering the supply chain of leading PCB manufacturers must go through a long certification process. Once introduced, customer stickiness is very high, and the replacement cost for competitors is extremely high. Additionally, the high construction pace of the AI industry chain requires suppliers to have stable delivery and rapid response capabilities—manufacturers with high-end technology, large-scale production, and agile delivery capabilities will occupy a more advantageous position in the reshaped market landscape. *This interview was published by Cailian News. The author is Lu Tingting. The original title is: PCB Drill Bit Volume and Price Growth Industry experts believe the shortage will persist in the next two years Shortage of tungsten rods may limit production expansion | Fax

In 2026, the market for Chinese medical aesthetics injectables is at a critical stage of structural transformation. Overall, the industry is shifting from the expansion of a single material to a new cycle of multi-material collaboration, technological innovation, and compliance focus. Various injectable products continue to make progress in material science, bioengineering, and clinical applications, expanding the clinical boundaries of facial rejuvenation and tissue repair. At the same time, the systematic improvement of regulatory systems is reshaping industry operating rules. Deepened implementation of tax regulations, pharmaceutical and medical device traceability, and special governance measures have significantly raised compliance requirements, establishing a institutional foundation for long-term healthy development. Technologically, the auxiliary value of artificial intelligence in diagnostic and treatment decisions is becoming increasingly evident, and the potential for synthetic biology to innovate raw material supply methods is also being realized. On the consumer side, markets at different levels and differentiated demands are growing simultaneously, providing diverse value opportunities for the industry. Based on long-term tracking and in-depth research in life sciences and cutting-edge medicine, Frost & Sullivan (hereinafter referred to as "Frost & Sullivan") plans to officially release the '2026 Blue Book on Medical Aesthetics Injectables' in 2026. We invite outstanding enterprises and industry partners in the industry to participate together, promoting the standardization and innovative development of the Chinese medical aesthetics injectables industry. Research Content The Blue Book will systematically analyze the development pattern and evolution trend of the Chinese medical aesthetics injectables industry in 2026, focusing on core categories such as hyaluronic acid, collagen, botulinum toxin, regenerative materials, exosomes and emerging materials. It will conduct research from aspects such as material science progress, clinical application expansion, regulatory policy evolution, industry competition landscape, and consumer demand changes, providing a structural understanding of the overall industry situation, aiming to offer professional references to industry participants. 1. Material Science Progress The Blue Book will deeply analyze key technological breakthroughs of various injectable materials in 2026: Hyaluronic Acid field, the refined iteration of cross-linking processes and low-modification technology routes continuously enhance product performance; Collagen field, the recombinant expression system has made substantial progress in expression amount, biological activity, and batch consistency, while animal-derived extraction processes are continuously optimized in terms of immunogenicity control and activity retention; Botulinum Toxin field, the recombinant preparation path and differential development of new serotypes expand clinical options; Regenerative Materials field, large-scale production of raw materials is changing the supply structure; Emerging Materials in terms of the industrialization feasibility of various new biopolymers under synthetic biology pathways has been verified. 2. Core Application Scenarios The Blue Book will conduct in-depth interviews with medical aesthetic institutions and end consumers, combining clinical literature and industry data to systematically examine the current application status of injectable products in core scenarios such as facial volume filling and contour shaping, dynamic wrinkle management, tissue regeneration and skin quality improvement, and composite treatment plans. Special attention will be given to the trend of the indication system expanding to more precise areas. Institutional interviews will focus on decision-making logic for product selection, treatment plan design, joint treatment strategies, complication management experience, and compliance procurement considerations; Consumer interviews will cover information acquisition paths, product awareness levels, decision-making factors, expected efficacy and actual satisfaction, repeat purchase and recommendation intentions, price sensitivity, and acceptance of emerging materials. The goal is to present the value positioning and optimization space of injectable products in real clinical scenarios and consumer decisions from both supply and demand perspectives. 3. Industry Development Drivers The Blue Book will focus on analyzing multiple drivers of the industry: the evolution of the age structure and aesthetic concepts of consumer groups creates differentiated demands, the increase in penetration in lower markets brings incremental space, the cross-empowerment of synthetic biology and AI technologies reshapes research and development efficiency and supply methods, the systematic improvement of regulatory frameworks helps the industry enter a standardized development track, and continuous attention from capital to innovative materials and platforms provides motivation for industry integration. 4. Industry Competition Landscape The Blue Book will comprehensively present the competitive ecosystem of the Chinese medical aesthetics injectables market. With product type as the main line of research, it will cover hyaluronic acid, collagen, botulinum toxin, regenerative materials, emerging materials field technical routes, product pipeline layout, clinical registration progress, and commercialization strategies. Through specific cases, the competition logic and development trends in this field will be revealed. The aim is to provide readers with structured insights that combine industry breadth and depth. 5. Regulation and Access Policies The Blue Book will systematically review the updates to the regulatory framework for Chinese medical aesthetics injectables products, including newly issued registration review guidelines in 2026, requirements for the establishment of pharmaceutical and medical device traceability systems, special governance measures for key categories, and comparisons of regulatory dynamics in major international markets. This provides a reference basis for compliant development and market access of products. 6. Representative Enterprises Presentation The Blue Book will analyze the capital market performance of global and Chinese medical aesthetics injectables fields, including corporate financing, product licensing transactions, and industry integration events. In addition, the Blue Book will include a special section on enterprises to provide in-depth introductions to representative domestic and foreign enterprises, covering technical routes, product pipelines, commercial progress, and strategic layouts. Differentiated positions and core competitiveness will be presented in the industry panorama. Frost & Sullivan invites outstanding enterprises in the field of medical aesthetics injectables to participate in the Blue Book. Together with multiple parties in the industrial chain, we will jointly participate in research and release processes, forming a rational expression and consensus accumulation regarding industry development under a professional analysis framework, and working together to promote the standardization and sustainable development of the Chinese medical aesthetics injectables industry. Release Highlights 1. Global Release of Blue Book to Enhance Industry Visibility through Technical Strength As a systematic research achievement in the field of medical aesthetics injectables, the Blue Book will be widely released through Frost & Sullivan’s official website, global media matrix, and life science vertical channels. The report will deeply present the core advantages of participating enterprises, focusing on the innovation of technical platforms, depth of product pipeline layout, key data, regulatory milestones, and large-scale production capabilities. By presenting differences, it helps the market establish a clear understanding of enterprise technical strength and industrialization capabilities, enhancing industry influence and brand credibility, and providing an authoritative platform for enterprises to express themselves and be displayed collectively. The English version will also be published by globally renowned news agencies (such as The Associated Press), mainstream financial media (such as Yahoo Finance), North American financial media and websites (such as Business Insider, Dow Jones Market Watch, Benzinga, Wall Street Insider), and regional media channels around the world, further expanding the brand visibility of enterprises in the international market and helping Chinese medical aesthetics injectables enterprises promote global brand building and technical cooperation. 2. Connecting the Industrial Ecosystem and Expanding Cooperation Network The Blue Book will establish a communication platform connecting multiple entities in the medical aesthetics injectables industry chain, promoting deep interaction and resource matching between enterprises with different positions. Raw material enterprises, product enterprises, medical aesthetic institutions, etc. can present their businesses differently, facilitating complementary integration through precise matching, enhancing mutual understanding with investment institutions and industry partners, and creating more possibilities for technical collaboration, resource integration, and business expansion. 3. Strengthening Professional Positioning and Creating Brand Recognition With the systematic analysis of medical aesthetics injectables technology, commercial conversion paths, and regulatory science by the Blue Book, the professional accumulation of participating enterprises will be objectively presented. Through the deep presentation of research content, the recognition and influence of enterprises in technical platforms, product progress, or production capacity will be enhanced, strengthening differentiated market positioning. 4. Connecting with Diversified Capital and Seizing Strategic Opportunities With Frost & Sullivan’s network of investment institutions and industry partners in the life science field, the release of the Blue Book effectively enhances the industry visibility of medical aesthetics injectables enterprises. It precisely connects with various types of capital: enterprises in the early research and development stage can attract venture capital funds focused on breakthrough in underlying materials with the innovation of their technical platforms; enterprises in the clinical or registration stage can connect with medical professional capital and large enterprise BD departments focused on product pipeline value and approval expectations; enterprises that have obtained certifications and started commercialization can attract strategic investors and industry acquirers with their product portfolio and market share. The Blue Book aims to build an efficient communication bridge between enterprises and diversified capital, helping them gain an advantage in financing, technology licensing, mergers and acquisitions, and strategic cooperation. 5. Deepening Long-Term Cooperation and Creating Industry Value Together Based on the deep communication established through the Blue Book, Frost & Sullivan can explore multiple collaborative directions with participating enterprises, including brand promotion, investment and financing consulting, growth strategy, etc. Both parties are expected to establish a long-term partnership based on this cooperation, jointly addressing industry changes and working together to promote high-quality development of the medical aesthetics injectables industry. Participate in Cooperation Please contact us Frost & Sullivan Medical Health Division Knowledge Center Email: HCknowledgecenter@frostchina.com Frost & Sullivan China Medical Health Division Consulting Director Wang Peng Email: aaron.wang@frostchina.com Frost & Sullivan China Medical Health Division Project Manager Lü Xiaotong Email: xiaotong.lv@frostchina.com Long press to scan the QR code below We will contact you

To fully implement the decisions of the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China and General Secretary Xi Jinping’s series of important instructions on new productive forces and high-quality development in the food and drug industry, the island of Hainan Free Trade Port has been officially opened for trade operations, and our organization has successfully held the event. Frost & Sullivan Frost & Sullivan China LeadLeo Research Institute LeadLeo YUAN CAPITAL SULLIVAN TELE-TREND CLOUD TECHNOLOGY TradeGo MagnaTEC Automotive & Mobility Environmental Protection & Energy Saving Technology Logistics & Supply Chain MATERNAL AND INFANT Education & Training Real Estate & Property Catering & New Retailing Advanced Materials Healthcare & Life Sciences Semiconductor & Chip COMMERCIAL AVIATION Technology, Media and Telecom LANDSCAPING Big Data & AI Infrastructure Construction & Utilities Culture & Entertainment AGRICULTURE, FORESTRY ANIMAL HUSBANDRY AND FISHERY Food & Beverage Fintech SHIPPING AND PORTS Dual Carbon & New Energy Mining & Metals Public Sector Cross-Border E-commerce Trade Building Technology, Construction & Decoration Beauty & Fashion Smart Homes Digital Infrastructure Enterprise Services Consumer Electronics 2025 Under the background of the "China Food & Drug, Medical Devices and Cosmetics New Productivity and High-Quality Development Conference", Frost & Sullivan China serves the national development strategy, witnesses the remarkable achievements achieved through isolation, gathers resources and wisdom related to new productivity, and continues to support the modernization of Hainan Free Trade Port. 2026 The China Food & Drug, Medical Devices and Cosmetics New Productivity and High-Quality Development Conference held in 2026 Year 5 Month 8 Today 11 Held successfully in Sanya, Hainan Province, in YYYY/MM/DD, and 10 Frost & Sullivan holds the ''LeadLeo''' on that day mRNA Where are the application boundaries of technology? "Parallel Forum. The key topics discussed at this parallel forum include the foundation for breaking through application boundaries." mRNA Underlying technologies and boundary breakthrough engines – AI Innovation, 818 How Orders Affect... mRNA Frost & Sullivan invites renowned academicians, experts, and business elites from domestic and international fields such as pharmaceuticals and medical devices to discuss cutting-edge scientific achievements worldwide, establish a integrated development platform involving government, industry, academia, research, finance, and application, seek policy benefits for development, share global technological resources, and effectively promote high-quality and safe development of new productive forces in the "three products and one equipment" sector. Frost & Sullivan) Frost & Sullivan & Sullivan, Hereinafter referred to as 'Frost & Sullivan'）Frost & Sullivan China’s Medical Health Division Consulting Director Chen Xiaorui was invited to attend and delivered a speech. Chen Xiaorui, Consulting Director of Frost & Sullivan Frost & Sullivan China’s Medical Health Division 818 Orders and 828 Frost & Sullivan has established a dual-track regulatory framework for biomedical innovation, ranging from clinical research to commercialization. 818 Orders and 828 The guidelines correspond to the "Clinical Research Registration–Translational Application" path and the drug registration and approval path of biomedical new technologies: The former focuses on the clinical validation and translational application of new technologies within compliant medical institutions, while the latter emphasizes the registration, market launch, and nationwide distribution of standardized drugs. These two paths differ significantly in terms of regulatory bodies, fee structures, and approval timelines, collectively forming a dual-track regulatory framework that covers biomedical innovation from early exploration to large-scale commercialization. Chen Xiaorui stated that Frost & Sullivan, along with Frost & Sullivan China, established a standardized pathway from "clinical research registration" to "translational application" while strengthening regulatory constraints, providing a institutional foundation for the clinical validation and translational application of cutting-edge technologies such as mRNA therapies within a compliant framework. This pathway operates parallel to the existing drug registration and approval process, offering differentiated implementation options for technologies varying in maturity and standardization levels. Order 818 specifies the evaluation and approval timelines for clinical translational applications, providing a more efficient path for the translation of advanced technologies. The implementation of Order 818 will standardize and promote clinical research and application of new biomedical technologies, thereby accumulating valuable preliminary data resources for the entire biopharmaceutical industry. These safety and efficacy data obtained from real-world studies can serve as important references for subsequent drug applications once technology matures, reducing the cost of repeated trials and improving overall R&D efficiency and success rates. Additionally, the development of new technologies will drive innovation in upstream industrial chains, enhancing the standardization and replicability of the entire technology system. The relationship between technology and product development is not separate but can form a positive cycle where "technology incubates products, and products optimize technology." mRNA technology features a short development cycle and strong platform characteristics, allowing it to complete the entire process from sequence design and in vitro validation to GMP clinical sample preparation within a short time. Under the "clinician research registration—transformation application" pathway established by Order 818, tertiary medical institutions can conduct early clinical exploration within compliance frameworks, and collaborate with GMP-capable technical service providers to complete preparation and quality control, thus accelerating the clinical validation process of candidate products while meeting ethical and regulatory requirements. Compared to traditional development models that rely solely on drug registration, this mechanism provides a more operational clinical transformation pathway for advanced technologies like mRNA, helping to shorten the period from scientific research to clinical validation. Chen Xiaorui further stated that The introduction of Order 818 will accelerate the differentiation within the mRNA industry: Projects lacking compliant clinical pathways and real data support will face greater elimination pressure, while companies with platform capabilities, a complete development system, and standardized clinical translation capabilities will further strengthen their competitive advantages. Meanwhile, capital evaluation criteria will shift from solely focusing on technical potential to emphasizing clinical feasibility, compliance, and commercial conversion capabilities. Chen Xiaorui concluded that Frost & Sullivan Order 818, while providing a standardized implementation pathway for cutting-edge technologies such as mRNA, also enhances the ethical compliance, safety management, and data reliability of clinical research through clear responsibility assignments, zero-fee research periods, regulatory constraints, and full traceability. In the short term, this policy will impose pressure on research and development timelines, commercialization strategies, and small enterprise operations, but in the long run, it will help streamline the industry, concentrate resources in companies with platform and systematic capabilities, and drive the mRNA industry toward high-quality, sustainable, and international development.

In recent years, under the combined influence of technological innovation and clinical needs in regenerative medicine, the extracellular matrix ( Extracellular Matrix, ECM) is accelerating its transition from basic research to clinical application and industrial production. On the technical side, continuous breakthroughs in decellularization processes have significantly addressed the core conflict between natural biomaterials "antigen removal and structural preservation"; synthetic biology technologies enable the prevention of immunogenicity at the source through recombinant expression, combined with engineered cross-linking modifications, allowing the degradation and tissue regeneration rates of materials to be coordinated and controlled, thus establishing a solid technical foundation for large-scale production and full-lifecycle quality control. On the application side, ECM-based bionic three-dimensional in vitro microenvironments are deeply integrated with biological response systems, continuously expanding their applications in clinical medicine, medical aesthetics, and cutting-edge life sciences. Currently, with the increasingly clear regulatory pathways in both global and Chinese markets, the surge in demand for healing wounds with complex complications, and the explosion in Dual Carbon & New Energy market for regenerative medical aesthetics, the Chinese ECM industry is in a critical window period transitioning from "laboratory production" to "standardized, scaled, commercialized, and compliant applications." How to seize development opportunities during the iterative process of technology and improving regulatory science has become a major strategic issue that R&D companies, research institutions, and investors are focusing on together. Based on long-term tracking and in-depth research in life sciences and cutting-edge medicine, Frost & Sullivan ( Frost & Sullivan, hereinafter referred to as "Frost & Sullivan") plans to officially release the "2026 Global ECM Industry White Paper" in 2026 and invites outstanding companies, research institutions, and industry partners in the industry to participate, working together to promote the standardization and innovative development of the Chinese ECM industry. Research Content This white paper will systematically review the current status and future trends of the ECM industry, focusing on ECM technology iteration, core application scenarios, driving factors, industry competition landscape, and regulatory and access policies, providing a structural understanding of the overall industry pattern and offering professional references for industry participants. First, ECM technology path The report will deeply analyze the balance and breakthroughs in traditional decellularization processes ( dECM) between "antigen removal and structural preservation," and in conjunction with synthetic biology advancements, discuss the quality control consistency of recombinant ECM proteins, thereby clarifying the industrial path for ECM materials to evolve toward high purity and low risk. Second, ECM core application scenarios The research will extend beyond surgical wound repair and tissue engineering patches to include regenerative medical aesthetics injections, as well as in vitro bionic tumor microenvironments and high-throughput organ-on-a-chip drug screening in cutting-edge fields. · Surgical wound repair : ECM materials promote tissue regeneration and reduce scar formation; · Tissue engineering patches : ECM materials are used to repair or replace damaged tissues, providing mechanical support and cell growth scaffolds; · Medical aesthetics injection products : ECM materials activate fibroblasts to induce collagen regeneration; · Construction of in vitro bionic tumor microenvironment Simulating the in vivo ECM environment, used for studying tumor invasion, metastasis, and drug response; · High-throughput organ-on-a-chip drug screening Using ECM hydrogels to culture organ-on-a-chip, improving the accuracy and efficiency of drug screening. Third, Driving factors for ECM industry development The white paper will focus on analyzing multiple macro drivers of the ECM industry: population aging creates a demand for chronic difficult-to-heal wounds, consumption upgrades drive growth in regenerative medical aesthetics and high-end repair markets, mature underlying biotechnological equipment provides benefits for large-scale production, clearer regulatory science paths release compliance incentives, breakthroughs in synthetic biology and engineered cross-linking technologies provide opportunities for product expansion, and continuous inflow of global capital accelerates industrial integration. Fourth, Global competition landscape of the ECM industry The report will analyze the multi-center clinical data accumulation of European and American companies, as well as the differentiated industrial advantages built by Chinese companies in the recombinant protein sector through synthetic biology, presenting a comprehensive view of the competitive and cooperative situation in the global ecosystem. 第五， ECM regulation and access policies The white paper will systematically review the ECM implant-level product regulations and access policies of major global countries and regions such as China, the United States, and the European Union, providing authoritative scientific references for the compliant application of advanced materials and cross-border BD licensing. 第六， Capital performance and representative companies in the ECM industry The report will analyze the capital market performance in the ECM sector globally and in China, including financing situations of R&D companies, licensing transactions, and mergers and acquisitions events. Finally, the white paper will include a special section on companies, providing in-depth introductions to domestic and foreign ECM R&D companies, covering company development history, business layout, technical advantages, and latest research progress, highlighting the differentiated positioning and core competitiveness of companies within the industry panorama. Frost & Sullivan invites outstanding companies in the ECM field to participate in this white paper, working together with multiple parties in the industry chain to engage in research and release processes, forming a rational expression and consensus accumulation regarding industry development under a professional analysis framework, and jointly promoting the standardization and sustainable development of the Chinese ECM industry. Release Highlights 1. Global release of the white paper to enhance industry visibility through technical strength As a systematic research achievement in the ECM field, this white paper will be widely released through Frost & Sullivan's official website, global media networks, and life science vertical channels. The report will deeply present the core advantages of participating companies, focusing on the innovation of technical platforms, depth of product pipeline, key data, regulatory milestones, and large-scale production capabilities. Through differentiated presentation, it will help the market establish a clear understanding of companies' technical and industrial capabilities, enhance industry influence and brand credibility, and provide a platform for authoritative voice and concentrated display for companies. The English version will also be published simultaneously in world-renowned news agencies (such as The Associated Press), mainstream financial media (such as Yahoo Finance), North American financial media and websites (such as Business Insider, Dow Jones Market Watch, Benzinga, Wall Street Insider, etc.), as well as global regional media channels, further expanding the brand visibility of companies in the international market and helping Chinese ECM companies promote global brand building and technical cooperation. 2. Linking the industrial ecosystem and expanding cooperation network The white paper will establish a communication platform connecting multiple entities in the ECM industry chain, promoting deep interaction and resource matching among enterprises with different positions. R&D companies, manufacturing companies, etc. can present their businesses differently, facilitating complementary integration of R&D and production capabilities through precise matching, enhancing mutual understanding with investment institutions and industry partners, and creating more opportunities for technical collaboration, resource integration, and business expansion. 3. Strengthening professional positioning and enhancing brand recognition Based on the systematic analysis of ECM technology, commercial transformation paths, and regulatory science by the white paper, the professional expertise of participating companies will be objectively presented. Through the in-depth presentation of research content, the recognition and influence of companies in terms of technical platforms, product progress, or production capabilities will be enhanced, solidifying their differentiated market positioning. 4. Connecting with diverse capital and seizing strategic opportunities With Frost & Sullivan's network of investment institutions and industry partners in the life sciences field, the release of the white paper will effectively increase company visibility and connect with various types of capital. Early R&D companies can reach VCs/PE that focus on the innovation of technical platforms; Clinical-stage companies can connect with industry capital and Big Pharma BD that focus on later clinical assets and commercial potential; large-scale manufacturing companies can attract strategic investors interested in manufacturing capabilities. A communication bridge will be established between companies and diverse capital, enabling them to take an active position in financing, technology licensing, mergers and acquisitions, and strategic cooperation. 5. Deepening long-term cooperation and creating industry value together Based on the deep communication established through the white paper cooperation, Frost & Sullivan can explore multiple collaborative directions with participating companies, including brand promotion, investment and financing consulting, growth strategy, etc. The two sides are expected to establish a long-term partnership based on this cooperation, jointly addressing industry changes and promoting the high-quality development of the ECM industry. Participate in cooperation Please contact us Frost & Sullivan Medical Health Division Knowledge Center Email: HCknowledgecenter@frostchina.com Frost & Sullivan China Medical Health Division Consulting Director Wang Peng Email: aaron.wang@frostchina.com Frost & Sullivan China Medical Health Division Project Manager Lv Xiaotong Email: xiaotong.lv@frostchina.com Long press to scan the QR code below We will contact you

Frost & Sullivan Insight Since 2026, China’s battery industry has witnessed a surge in fast charging and ultra-fast charging trends. Does this help solve the problem of long charging times for new energy vehicles, thereby further affecting the sales of gasoline vehicles? Additionally, some consumers question whether fast charging and ultra-fast charging damage batteries. Can this be resolved? Chinese battery manufacturers have improved charging speed by reducing resistance. However, increased current may place high demands on battery heat dissipation. Moreover, as battery usage time increases, does it lead to increased resistance, which in turn affects battery heating? How should we view the development of sodium-ion batteries? If they reduce costs through scale advantages, will this help fill the gap in relatively low-end markets, as well as fields like AIDC that require high discharge rate performance? Will sodium-ion batteries pose a threat to lithium batteries in the future? Frost & Sullivan Frost & Sullivan (hereinafter referred to as "Frost & Sullivan") Senior Partner and Managing Director Jia Pang gave an interview to the Daily Economic News to discuss how battery technology can break through and thrive under the wave of ultra-fast charging. Daily Economic News Q: Since 2026, China’s battery industry has witnessed a surge in fast charging and ultra-fast charging trends. Does this help solve the problem of long charging times for new energy vehicles, thereby further affecting the sales of gasoline vehicles? Additionally, some consumers question whether fast charging and ultra-fast charging damage batteries. Can this be resolved? Fast charging and ultra-fast charging significantly shorten charging time. With high-voltage platforms (800V) and the popularization of high-rate cells, the charging experience has become similar to that of gasoline vehicles, effectively alleviating users' range concerns and accelerating the replacement of gasoline vehicles by new energy vehicles. However, its impact is currently limited by factors such as charging network density, grid load, and vehicle penetration rates. Traditional graphite negative electrodes may experience lithium precipitation and dendrite growth under fast charging and ultra-fast charging conditions, leading to capacity degradation and safety risks, thereby damaging the battery. Current improvements through material system optimization (such as silicon-carbon negative electrodes and low-resistance electrolytes), enhanced thermal management, and BMS precise control have already mitigated some of the lifespan degradation caused by high-rate charging. In addition, the new national standard issued by the Ministry of Industry and Information Technology (GB38031-2025 “Safety Requirements for Power Battery Cells Used in Electric Vehicles”) will take effect in July 2026. For ultra-fast charging batteries, it requires passing external short-circuit tests after 300 fast charging cycles, and the fast charging performance between 20% and 80% SOC must remain stable, further ensuring the safety of fast charging and ultra-fast charging. Q: Chinese battery manufacturers have improved charging speed by reducing resistance. However, increased current may place high demands on battery heat dissipation. Moreover, as battery usage time increases, does it lead to increased resistance, which in turn affects battery heating? Improving charging speed by reducing internal resistance essentially enhances the current-carrying capacity. Heat generation is proportional to the square of the current, which significantly increases heating, placing higher demands on the thermal management system, including thermal interface materials and integrated vehicle thermal management design. High-rate charging and discharging accelerate the breakdown of electrode material particles and the thickening of the solid electrolyte interphase membrane (SEI membrane), and internal resistance tends to increase over time, further exacerbating thermal issues. Therefore, the industry is optimizing cell structures, improving material stability, and implementing more precise BM strategies to slow down internal resistance growth, while using vehicle-level thermal management to mitigate thermal risks associated with high rates. Q: How should we view the development of sodium-ion batteries? If they reduce costs through scale advantages, will this help fill the gap in relatively low-end markets, as well as fields like AIDC that require high discharge rate performance? Will sodium-ion batteries pose a threat to lithium batteries in the future? Sodium-ion batteries offer advantages such as abundant resources, large cost potential, and good low-temperature performance. After scaling up, they are expected to fill the “gap” in lower-end passenger vehicles, two-wheelers, and energy storage applications where lithium batteries are cost-competitive. Their high-rate performance has potential in areas requiring high power output, such as AIDC. However, in terms of energy density, sodium batteries are still significantly lower than mainstream lithium batteries, making it difficult for them to enter mid-to-high-end passenger vehicle markets in the short term. Thus, they are likely to form a “local structural substitute” and coexist with lithium batteries across different price ranges and application scenarios in the long term. In the long run, their competitiveness depends on cost reduction through scale and continuous optimization of cycle performance.

In Healthy China 2030 Under the background of strategic advancement and the focus on the Health Industry in the 15th Five-Year Plan, the Chinese health food industry is facing dual opportunities for structural growth and high-quality development. The market is rapidly evolving from traditional "nutritional supplements" to functional, precise, scenario-based, and long-term solutions, covering core areas such as dietary supplements, chronic disease management, sports nutrition, weight management, gut health, sleep health, and senior health. As the regulatory framework continues to improve, along with innovation in raw materials and evidence-based medicine, and intensive investment by industry capital, the industry is moving from rapid growth to a new stage of high-quality development. At this critical point, Frost & Sullivan Frost & Sullivan & SULLIVAN In collaboration with LeadLeo Research Institute, Frost & Sullivan Frost & Sullivan China officially launched the 'White Paper on the Development of the Chinese Health Food Industry'. 2026 'Frost & Sullivan Frost & Sullivan China LeadLeo Research Institute LeadLeo YUAN CAPITAL SULLIVAN TELE-TREND CLOUD TECHNOLOGY TradeGo MagnaTEC Automotive & Mobility Environmental Protection & Energy Saving Technology Logistics & Supply Chain MATERNAL AND INFANT Education & Training Real Estate & Property Catering & New Retailing Advanced Materials Healthcare & Life Sciences Semiconductor & Chip COMMERCIAL AVIATION Technology, Media and Telecom LANDSCAPING Big Data & AI Infrastructure Construction & Utilities Culture & Entertainment AGRICULTURE, FORESTRY ANIMAL HUSBANDRY AND FISHERY Food & Beverage Fintech SHIPPING AND PORTS Dual Carbon & New Energy Mining & Metals Public Sector Cross-Border E-commerce Trade Building Technology, Construction & Decoration Beauty & Fashion Smart Homes Digital Infrastructure Enterprise Services Consumer Electronics' Report research content This white paper provides a systematic industry framework based on professional insights, extensive data, and high-quality case studies, offering forward-looking decision-making references for enterprises, capital, regulators, and all stakeholders in the industry chain. Core Research Content 1. Industry Overview Analysis: Defining industry boundaries and regulatory systems, reviewing development history and market evolution, analyzing the progression from The transformation logic toward functionalization, precision, and scenario-based approaches of "single supplementation", analyzing the industrial chain ecosystem, investment and financing trends, and key driving factors. 2. Focus on Key Sectors: Concentrate on high-growth niche areas such as intestinal health, immune regulation, weight management, sports nutrition, senior health, and women’s health, to reveal consumer demand, technological innovation, and market potential. 3. Full-Link Enabling Path: Covering four key stages including R&D innovation, efficacy evaluation, commercial operation, and cross-tech integration, this analysis explores methods for building core competitiveness through raw material development, synthetic biology, AI formula optimization, and full-link traceability. 4. Benchmark Company Cases: Include high-quality enterprise practices, presenting an overview of product strategies, technology platforms, supply chain advantages, compliance capabilities, and global expansion efforts, to serve as a replicable model for the industry. 5. Future Trend Analysis: Forecasting industry technology trends, policy directions, consumer changes, and global opportunities to guide corporate strategic planning. Enterprise Core Rights 1. Industry Content Co-creation Rights: Deep participation in white paper research directions, key topics, and trend analysis discussions, providing professional advice for industry analysis and sector interpretation, highlighting corporate industry leadership. 2. Rights to Customized Business Case Displays: Incorporate customized content in the core sections of white papers and business case special chapters, comprehensively presenting the company’s development history, core products, technological innovations, supply chain advantages, and global expansion strategies, highlighting unique competitive strengths and obtaining authoritative endorsement. 3. Global Full-Media Distribution Rights: The white paper will be released simultaneously through Frost & Sullivan’s Chinese media network and vertical media; the English version will be available on Frost & Sullivan’s global website and disseminated in multiple languages via mainstream financial and industry media worldwide. 4. Rights to Participate in Industry Conferences: Invited to attend online and offline white paper release events. Corporate representatives can attend the release ceremony, participate in roundtable forums, and provide keynote speeches, allowing direct interaction with industry experts, investment institutions, and industry chain partners to enhance professional influence. 5. Precise Access to Capital Markets through Rights Issues: Leveraging Frost & Sullivan and LeadLeo’s comprehensive resources, targeted partnerships are established with consumer funds, industrial capital, securities firm research institutes, and leading channel platforms, helping companies increase their visibility in capital markets and expand investment and financing opportunities as well as industry chain collaborations. Our Advantages: Authoritative Endorsement +Rich Experience +Comprehensive Resources 1. Endorsement from authoritative institutions Frost & Sullivan was established In 1961, with 65 years of global consulting experience and 28 years of expertise in the Chinese market, Frost & Sullivan is a leading investment and business growth consulting firm worldwide. LeadLeo Research Institute is a well-known industry research platform in China, and the collaboration between these two organizations ensures the professionalism and credibility of the reports. 2. Deeply involved in the field of grand health Frost & Sullivan has published the 'China Healthcare Industry Development White Paper' for several years. Frost & Sullivan has released several significant reports, including ‘White Paper on the Current Status and Future Trends of Gut Microbiome Industry’ and ‘White Paper on the Chinese Probiotic Market in 2025’, demonstrating a mature research system and practical experience. 3. Comprehensive Resource Empowerment Integrates domestic and international media networks 300+ investment institutions, 1,000+ industry chain partners, and research institutions provide one-stop profit support including "brand promotion, capital connection, and industrial cooperation". White Paper Release Plan Project launch date Frost & Sullivan Frost & Sullivan China LeadLeo Research Institute LeadLeo YUAN CAPITAL SULLIVAN TELE-TREND CLOUD TECHNOLOGY TradeGo MagnaTEC Automotive & Mobility Environmental Protection & Energy Saving Technology Logistics & Supply Chain MATERNAL AND INFANT Education & Training Real Estate & Property Catering & New Retailing Advanced Materials Healthcare & Life Sciences Semiconductor & Chip COMMERCIAL AVIATION Technology, Media and Telecom LANDSCAPING Big Data & AI Infrastructure Construction & Utilities Culture & Entertainment AGRICULTURE, FORESTRY ANIMAL HUSBANDRY AND FISHERY Food & Beverage Fintech SHIPPING AND PORTS Dual Carbon & New Energy Mining & Metals Public Sector Cross-Border E-commerce Trade Building Technology, Construction & Decoration Beauty & Fashion Smart Homes Digital Infrastructure Enterprise Services Consumer Electronics 2026/05/01 Full version of the report released Frost & Sullivan Frost & Sullivan China LeadLeo Research Institute LeadLeo YUAN CAPITAL SULLIVAN TELE-TREND CLOUD TECHNOLOGY TradeGo MagnaTEC Automotive & Mobility Environmental Protection & Energy Saving Technology Logistics & Supply Chain MATERNAL AND INFANT Education & Training Real Estate & Property Catering & New Retailing Advanced Materials Healthcare & Life Sciences Semiconductor & Chip COMMERCIAL AVIATION Technology, Media and Telecom LANDSCAPING Big Data & AI Infrastructure Construction & Utilities Culture & Entertainment AGRICULTURE, FORESTRY ANIMAL HUSBANDRY AND FISHERY Food & Beverage Fintech SHIPPING AND PORTS Dual Carbon & New Energy Mining & Metals Public Sector Cross-Border E-commerce Trade Building Technology, Construction & Decoration Beauty & Fashion Smart Homes Digital Infrastructure Enterprise Services Consumer Electronics Frost & Sullivan Frost & Sullivan China LeadLeo Research Institute LeadLeo LeadLeo Participating in collaboration Please contact us We sincerely invite leading enterprises in various aspects of the health food industry, including raw materials, research and development, production, branding, and distribution channels, to collaborate in creating a authoritative white paper for 2026, and together embark on a new journey of high-quality development! Frost & Sullivan China Senior Partner and Managing Director Yang Xiaocheng Email: jacky.yang@frostchina.com Frost & Sullivan China Consulting Manager Jing Jing Email: jing.jing@frostchina.com Long press and scan the QR code below, and we will contact you.

Frost & Sullivan China is currently in a critical stage of transitioning from following to competing and leading in the medical device industry. To support the high-quality development of the medical device sector in China and accelerate innovation and resource integration within the industry, 5 Month 8-9 2023/01/15, 2026 MDI-China “Frost & Sullivan Frost & Sullivan China the ‘Medical Device Innovation & Cooperation Conference’ (Third Session)” MDI The conference was successfully held in Wuxi. Frost & Sullivan Frost & Sullivan & Sullivan, Hereinafter referred to as 'Frost & Sullivan'）Frost & Sullivan China’s Medical Health Division Consulting Director Wang Peng was invited to attend and delivered a speech. Frost & Sullivan China’s Health Care Division Consultant Director Wang Peng Wang Peng pointed out that due to factors such as economic development, improved living standards, accelerated information dissemination, and changes in concepts, The pursuit of appearance has become deeply embedded in the minds of every consumer, leading to the emergence of the 'Appearance Economy'. Medical aesthetics has received widespread attention in recent years. Both surgical medical aesthetic procedures such as plastic surgery and liposuction, as well as non-surgical medical aesthetic treatments involving injections and audio-visual technologies, have seen increasing penetration rates, along with rising acceptance and recognition. The safety and effectiveness of non-surgical medical aesthetic treatments have significantly improved, and they are favored by consumers due to their minimally invasive and quick nature. In terms of the regulatory environment, Wang Peng emphasized that compliance has become a consensus in the beauty industry, representing both a challenge and an opportunity. Since the Ministry of Health issued the "Management Measures for Medical Aesthetic Services" in 2002, the Chinese medical aesthetics industry has gone through two phases: the establishment of regulatory frameworks and the period of compliance and standardization. In recent years, multiple departments including the National Health Commission have continuously carried out special actions to severely crack down on illegal medical aesthetics activities, standardizing medical aesthetic services and strengthening industry regulation. In 2023, eleven departments including the State Administration for Market Regulation issued the "Guiding Opinions on Further Strengthening Regulatory Work in the Medical Aesthetics Industry,” providing comprehensive regulations regarding access management and comprehensive supervision during and after services. The improvement of regulatory policies has accelerated industry restructuring, reduced unfair competition, enhanced consumer trust, and improved the overall industry environment. However, the upgrading of technical equipment and strict registration standards have increased compliance costs, raised pricing pressures, optimized industry resources, increased market concentration, improved product safety, and boosted consumer recognition. Wang Peng explained that the global non-surgical beauty market size is The growth from $21 billion in 2017 to $32.1 billion in 2021 indicates that the figure will reach $72.3 billion by 2025 and exceed $159.4 billion by 2030. The growth rate was as high as 22.5% between 2021 and 2025, and it will continue at an annual compound growth rate of 17.1% thereafter. The non-surgical medical aesthetics market in China also expanded rapidly, rising from 59.5 billion yuan in 2017 to 157.3 billion yuan in 2021, with an estimated value of 401.4 billion yuan by 2030. Among these, injectable treatments are particularly significant, as their market size increased from 19.4 billion yuan in 2017 to 50.5 billion yuan in 2021, and is expected to reach 98 billion yuan by 2025, roughly matching the non-injectable treatments (accounting for 50.1%) for the first time. By 2030, this figure will further rise to 196.8 billion yuan, representing nearly half of the non-surgical medical aesthetics market. Overall, injectable medical aesthetics projects are shifting from a supplementary role to a core growth driver in the Chinese market. Although the growth rate has slowed due to expanding base sizes (CAGR from 2025 to 2030 is 15.5%), the absolute increase remains substantial, driving continued expansion of the non-surgical medical aesthetics market in China and globally. Wang Peng further analyzed the market landscape of medical beauty injectable products. Currently, medical beauty injectable products mainly include hyaluronic acid, collagen, regenerative materials, and botulinum toxin. Multiple factors drive rapid development in this field. The acceptance of medical beauty consumption increases, and consumer levels improve; improved policies promote healthy industry growth; technological advancements facilitate product upgrades; digital marketing channels support, and consumer education is enhanced. The thriving development of medical beauty injectable products activates continuous improvement across all stages of the supply chain. Many companies expand their operations upstream and downstream to strengthen their positions in the industry. Downstream demand feedback and upstream raw material innovation work together to drive revenue growth for midstream products. Regarding the dominant category of hyaluronic acid, Wang Peng explained that hyaluronic acid is formed by sugar units linked together and is widely distributed in the human body. Its viscoelasticity and strong water retention properties play an important role in lubricating joints, regulating blood vessel permeability, and promoting wound healing. It is widely used in medical, cosmetic, and functional food industries. Molecular weight is an important parameter of hyaluronic acid, and it can be divided into high molecular weight hyaluronic acid based on molecular weight. ≥1×10⁶ Da) and low-molecular-weight hyaluronic acid (with a molecular weight of 1×10⁴–1×10⁶ Between Da and oligo hyaluronic acid (molecular weight ≤1×10⁴) The degree of cross-linking also results in different performance characteristics: products with high cross-linking have greater mechanical strength and better shaping ability, making them suitable for shaping hard areas such as the nose and chin; products with medium cross-linking are ideal for filling wrinkles and depressions; products with low cross-linking are softer and better suited for dynamic filling, such as the lips. Low molecular weight, low-cross-linking/non-cross-linking hyaluronic acid is often injected into the dermis as a "hydrating injection" to improve skin condition through its moisturizing and hydration effects. In the industrial competition landscape, Wang Peng noted that as the manufacturing level continues to improve, local hyaluronic acid production companies are highly competitive globally. The industrial production of hyaluronic acid primarily relies on two methods: animal tissue extraction technology and microbial fermentation technology. Compared to animal tissue extraction, microbial fermentation does not depend on animal resources, allowing free hyaluronic acid to be directly produced during large-scale fermentation processes, thereby simplifying and enhancing purification efficiency, reducing production costs, and better meeting the demands of large-scale industrial production. Additionally, since it avoids animal-derived materials, it eliminates the risk of potential pathogenic virus contamination. Cross-linking technology, as one of the core technologies of hyaluronic acid companies, has led various enterprises to develop their own cross-linking technology patents to achieve more precise control over cross-linking degree, mechanical strength, and viscoelasticity. Regarding regenerative preparation materials, Wang Peng stated that these materials exert beauty effects by stimulating the regeneration of human collagen, and have gained attention due to their advantages such as long-lasting effect, natural results, and biodegradability. In the field of botulinum toxin, China already has... Seven medical beauty injectable botulinum toxin products have been approved for market release, and several domestic companies are accelerating their development efforts, with many products currently in the application stage for market launch or Phase III clinical trials. In terms of innovation trends, Wang Peng stated that breakthroughs in advanced materials, developments in new technologies, and the introduction of new concepts are providing the market and consumers with more innovative ways to enhance appearance. Precision medicine enables customized "beauty enhancement" solutions, combining genetic testing and AI analysis to create personalized treatment plans based on individual skin types, genetic predispositions, and allergy history. Through AI algorithms analyzing facial proportions and 3D scanning, along with VR/AR technology,美容 effects can be previewed in advance, enabling doctors and clients to communicate expectations more effectively. The continuous emergence of new materials and products is driving new trends in the medical beauty industry. Innovations such as exosomes and stem cells for anti-aging treatments, as well as the expansion of indications for sound, light, and heat-based treatment devices like Ultherapy, Gold Microneedling, and Thermage, will further stimulate the interest of beauty enthusiasts and set new trends in medical beauty. Additionally, the integration of medical beauty and health management to achieve scientific "beauty enhancement" is leading to the development of one-stop health and beauty centers that include health checks, energy management, physical therapy, and psychological counseling, helping consumers achieve scientific beauty enhancement more effectively.

When technological explosion and turmoil intersect, what kind of leadership is truly trustworthy? How does a top-tier consulting firm with 65 years of history define the "spirit of pioneer innovators" of this era? When technological innovation and instability coexist, what kind of leadership is genuinely reliable? How does a premier consulting organization with 65 years of history define the "spirit of pioneer innovators" of this time? The world has never been more complex, nor more abundant. The world has never been so intricate, nor so rich in resources. Fields such as AI, new energy, and biotechnology are experiencing rapid innovation, with technological breakthroughs shining like fireworks—each area promising a new future. However, the acceleration of technology and international fluctuations are intertwined, making it harder for people to determine the right direction in the information overload: the more opportunities there are, the more afraid they are of making the wrong choice; the more voices there are, the stronger their desire for guidance. In areas like AI, new energy, and biotechnology, innovation is emerging in fierce competition, with technological breakthroughs blooming as brightly as fireworks—each direction offering a new future. Yet, the speed of technology and international changes are intertwined, making it difficult for people to find their way in the information chaos: the more opportunities there are, the greater the fear of making the wrong decision; the more voices there are, the stronger the need for guidance. What development directions deserve attention? Which companies are trustworthy? Which areas of development require focus? Which enterprises are reliable? This year marks the 65th anniversary of Frost & Sullivan, which has chosen "Trust" as its annual theme. This growth consulting firm, which has helped tens of thousands of enterprises go public, transform, and evolve, always focuses on eliminating information asymmetry through in-depth research to provide the most credible assessments for the capital market. This year marks the 65th anniversary of Frost & Sullivan, which has selected "Trust" as its annual theme. This growth consulting firm, which has assisted thousands of enterprises through IPOs, transformations, and changes, consistently aims to reduce information asymmetry through thorough research, offering the capital market the most reliable insights. Since 2025, Forbes China and Frost & Sullivan have jointly organized the Awards of Pioneer Innovators in Industry Development, trying to answer the question: amidst noise and confusion, what kind of leadership is truly trustworthy? Since 2025, Forbes China and Frost & Sullivan have collaborated to present the Awards of Pioneer Innovators in Industry Development, aiming to answer the question: in the midst of chaos and uncertainty, what kind of leadership is truly reliable? Recently, the 2026 Forbes China Pioneer Innovators in Industry Development Selection Gala Banquet concluded successfully. Before the official award ceremony, we had a discussion with Dr. Neil Wang, Global Senior VP, Co-Chairman of Asia Pacific, and Chairman of China at Frost & Sullivan, to discuss the significance of "pioneering" and why trust has become the most valuable asset of this era. Recently, the 2026 Forbes China Pioneer Innovators in Industry Development Selection Gala Banquet was successfully held. Before the official award ceremony, we spoke with Dr. Neil Wang, Global Senior VP, Co-Chairman of Asia Pacific, and Chairman of China at Frost & Sullivan, to explore the meaning of "pioneering" and why trust has become the most essential asset of this era. 01 A small lotus bud just shows its tip. The Lotus Bud Just Showing Its Tip On the morning of March 18, outside the ballroom of the Bvlgari Hotel Shanghai. The red carpet was already set up; security personnel in suits patrolled the area, and dozens of staff members were rushing with their run-of-show sheets, creating an atmosphere of tension yet anticipation. On the morning of March 18, outside the ballroom of the Bvlgari Hotel Shanghai. The red carpet had been laid out; security personnel in suits were patrolling, and dozens of staff members were hurriedly handling their run-of-show sheets, producing an atmosphere of tension mixed with anticipation. The tension comes from the fact that this important event cannot afford any mistakes. The anticipation arises because tonight, several outstanding individuals in their fields will take the stage. Frost & Sullivan will formally introduce to the world the pioneer innovators who can lead China’s future development. The tension stems from the fact that this significant event cannot tolerate errors. The anticipation is due to the fact that tonight, several individuals who have achieved great success in their fields will take the stage. Frost & Sullivan will introduce to the world the pioneer innovators capable of leading China’s future development. Dr. Neil Wang explained the meaning of "pioneering": "'Ling' means leading. Being the first to eat the crab requires risk-taking and being a pioneer, but it also means there are huge opportunities. We believe that every industry needs leading figures and companies that act as pioneers in niche markets and even in broader industry sectors. 'Chuang' means innovation—preferably something completely new. It could be a new business model, a new trend, or a new idea. Most importantly, it means saying 'no' to old ways and breaking free from those constraints." Dr. Neil Wang explained the meaning of "pioneering": "‘Ling’ means leading. Being the first to eat the crab requires risk-taking and being a pioneer, but it also means there are great opportunities. We think every industry needs leaders and companies that serve as pioneers in specific areas and even in larger industries. ‘Chuang’ means innovation—preferably something completely new. It could be a new business model, a new trend, or a new idea. Most importantly, it means saying ‘no’ to old ways and breaking free from those restrictions." The selected pioneer innovators this year are precisely such enterprises and individuals. Most of them are innovative growth-stage companies deeply involved in niche markets, and there are also new forces with core technologies. Although they haven’t yet become industry giants, they have become pioneers in their fields thanks to their forward-looking vision and innovative abilities. The selected pioneer innovators this year are precisely such enterprises and individuals. Most of them are innovative growth-stage companies deeply involved in specialized markets, and there are also new entities with core technologies. Though they haven’t yet become industry giants, they have become pioneers in their fields due to their vision and innovative capabilities. A nine-story tower starts with a pile of earth. Whether it’s a giant multinational company or a century-old enterprise, everything is built up little by little; only small streams can form a vast ocean. Therefore, Dr. Neil Wang believes that these growth-stage and start-up enterprises are the foundation of industrial development and even the creators of future business landscapes. A nine-story tower begins with a pile of earth. Whether it’s a large multinational corporation or a company that has existed for a century, all are built up step by step; only gentle flows can merge into a vast ocean. Thus, Dr. Neil Wang firmly believes that these growth-stage and start-up enterprises are the basis of industrial development and, more importantly, the incubators of future business environments. Growth based on foundations is often fragile. According to extensive research by Frost & Sullivan over the years, nearly 97% or more of start-up enterprises face high failure risks in the first two or three years. "It’s like a newborn bird that can’t withstand strong winds. In the first two years, it needs a lot of attention, support, help, and recognition from partners and customers." Growth based on foundations is often fragile. As shown by extensive research by Frost & Sullivan over many years, almost 97% or more of start-up enterprises face high failure risks in the first two or three years. "It’s like a newborn bird that can’t withstand strong winds. In the first two years, it needs a lot of attention, support, assistance, and recognition from partners and customers." He quoted a line of poetry: "The lotus bud just shows its tip, and already a dragonfly perches atop." Frost & Sullivan wants to be the "dragonfly," collecting nectar and pollinating for the "lotus bud." He quoted a line of poetry: "The lotus bud just shows its tip, and already a dragonfly is perched on it." Frost & Sullivan wishes to be the "dragonfly," gathering nectar and pollinating for the "lotus bud." Compared to 2025, the profiles of this year’s selected pioneers are more distinct. Many judges noticed that returnees from abroad, youth, and high education levels are key features of this group. "This is different from the early days of reform and opening-up, when many entrepreneurs started from the ground up. These people have a global perspective and are especially skilled in interpreting cutting-edge high technology," Dr. Neil Wang said. Compared to 2025, the profiles of this year’s selected pioneers are more distinct. Many judges observed that returnees from abroad, youth, and high education levels are prominent traits. "This is different from the early days of reform and opening-up, when many entrepreneurs started from the ground up. These people have a global perspective and are particularly skilled in interpreting cutting-edge high technology," Dr. Neil Wang said. But technological leadership doesn’t guarantee everything. Dr. Neil Wang added a key point: "Good technology doesn’t necessarily mean a good market or promising promotion prospects. Top-tier technology may not always bring huge market or investment benefits." However, technological leadership does not equate to everything. Dr. Neil Wang added a crucial point: "Good technology doesn’t necessarily mean a good market or promising promotion prospects. Top-tier technology may not automatically bring substantial market or investment returns." Beyond technology, what the capital market is really looking for is another answer. Beyond technology, what the capital market is truly seeking lies in another answer. 02 The Essence of Entrepreneurship The Essence of Entrepreneurship The capital market seeks profit, but high returns often come with high risks—they are inseparable. Those who can turn technology into sustainable business value often know how to manage risks. Therefore, a true pioneer who can navigate through economic cycles must possess entrepreneurial spirit beyond mere technology. The capital market moves in pursuit of profit, but high returns often come with high risks; the two are the outward and inward aspects of the same entity, inseparable. Those who can transform technology into sustainable commercial value typically understand how to manage risk even better. Therefore, a pioneer innovator who can truly navigate cycles must possess an entrepreneurial spirit that transcends technology itself. Wang Xin believes: "Entrepreneurial spirit is not reflected in the ability to develop a good product, but in the capacity to integrate resources." Dr. Neil Wang believes: "Entrepreneurial spirit is not manifested in one's ability to develop a good product, but rather in the capacity to integrate resources." An outstanding entrepreneur must find ways to fully utilize all social resources and commercial ecosystem resources, integrating different stakeholders to form a team. This team does not refer only to the internal enterprise team, Dr. Neil Wang said: "The outside world is extraordinarily vast. If an entrepreneur can mobilize external social resources, enabling commercial partners, the ecosystem, and even government functional departments, policymakers, and regulatory agencies to support him and attach importance to his concepts, products, services, as well as his market entry strategies, marketing layouts, and globalization strategies, then the value of the enterprise will more easily be widely seen and recognized." An outstanding entrepreneur must find ways to fully utilize all social resources and commercial ecosystem resources, integrating different stakeholders to form a team. This team does not refer only to the internal enterprise team, Dr. Neil Wang said: "The outside world is extraordinarily vast. If an entrepreneur can mobilize external social resources, enabling commercial partners, the ecosystem, and even government functional departments, policymakers, and regulatory agencies to support him and attach importance to his concepts, products, services, as well as his market entry strategies, marketing layouts, and globalization strategies, then the value of the enterprise will more easily be widely seen and recognized." At the 2026 Forbes China Industry Development Pioneer Innovators Award Ceremony, Frost & Sullivan deliberately invited representatives from industry, academia, research, investment, and media to attend the event. For entrepreneurs, this was precisely a rare opportunity for resource integration and ecosystem linkage. At the 2026 Forbes China Pioneer Innovators in Industry Development Selection Gala Banquet, Frost & Sullivan deliberately invited figures from industry, academia, research, investment, and media to gather at the event. For entrepreneurs, this was precisely a rare opportunity for resource integration and ecosystem linkage. The "outside world" that Dr. Neil Wang mentioned requires a global perspective. He said: "Today's competition is competition within the global village. The international nature of competition is something we must never forget." The "outside world" that Dr. Neil Wang spoke of requires a global perspective. He said: "Today's competition is competition within the global village. The international nature of competition is something we must never forget." He told a true story. An entrepreneur from a listed company with a market value in the tens of billions said he wanted to go overseas. An expert asked: "Which country do you want to go to?" The entrepreneur replied: "I want to go to Africa." The expert asked again: "There are over fifty countries in Africa. Which one do you want to go to? The languages, cultures, levels of openness, and economic development vary enormously. You don't even know what you're asking, so how can you talk about answers?" He told a true story. An entrepreneur from a listed company with a market value in the tens of billions said he wanted to go overseas. An expert asked: "Which country do you want to go to?" The entrepreneur replied: "I want to go to Africa." The expert asked again: "There are over fifty countries in Africa. Which one do you want to go to? The languages, cultures, levels of openness, and economic development vary enormously. You don't even know what you're asking, so how can you talk about answers?" Dr. Neil Wang is well aware that entrepreneurs are not omnipotent, especially before the complex subject of globalization, no one is a born top student. But that is all right; Frost & Sullivan can provide systematic methodologies. Recently, Frost & Sullivan has reached a cooperation with a top-tier Chinese publisher and will soon launch a book titled "企业出海增长指南" (with the English title "GO GLOBAL: The Growth Coaching Book"). He believes that the momentum of globalization is unstoppable by anyone. Dr. Neil Wang is well aware that entrepreneurs are not omnipotent, and especially before the complex subject of globalization, no one is a born top student. But that is all right; Frost & Sullivan can provide systematic methodologies. Recently, Frost & Sullivan has reached a cooperation with a top-tier Chinese publisher and will soon launch a book titled "企业出海增长指南" (with the English title "GO GLOBAL: The Growth Coaching Book"). He believes that the momentum of globalization is unstoppable by anyone. He vividly explained: "Going overseas is like sailing. You cannot set out to sea in a small sampan; you might not get a few kilometers before a wave capsizes you. You must have nautical charts to tell you where the reefs are, and GPS to guide you. This is not groping about in the dark like a blind man touching an elephant, but rather having established approaches and mature methodologies recognized globally." He vividly explained: "Going overseas is like sailing. You cannot set out to sea in a small sampan; you might not get a few kilometers before a wave capsizes you. You must have nautical charts to tell you where the reefs are, and GPS to guide you. This is not groping about in the dark like a blind man touching an elephant, but rather having established approaches and mature methodologies recognized globally." He has great confidence in Frost & Sullivan, because using professionalism to empower enterprises is something Frost & Sullivan has been doing for 65 years. He has great confidence in Frost & Sullivan, because empowering enterprises with professionalism is something Frost & Sullivan has been doing for 65 years. 03 65 Years of Nurturing Trust 65 Years of Nurturing Trust The consulting industry experiences cycles of rise and fall, with a reshuffle of the landscape occurring every 10 to 20 years. Frost & Sullivan is one of the few professional consulting institutions globally that has remained active throughout more than half a century. The consulting industry ebbs and flows, with its landscape reshuffled every 10 to 20 years. Frost & Sullivan is one of the few professional consulting institutions globally that has remained proactive across more than half a century. Currently, Frost & Sullivan has nearly 50 branches worldwide, covering all developed countries, emerging economies, and major capital markets, becoming the trusted choice of countless clients. Trust is its trump card. Currently, Frost & Sullivan has nearly 50 branches worldwide, covering all developed countries, emerging economies, and major capital markets, becoming the trusted choice of countless clients. Trust is its trump card. "Now, massive amounts of information are a mix of fish eyes and pearls, of uneven quality. The cost of obtaining information has dropped enormously, but its quality is also cast into doubt," Dr. Neil Wang said. "Internet water armies, fake news, AI-generated forgeries, short-term behavior by unscrupulous individuals or small institutions... they have no historical lineage, no concept of long-term operation, and do not place brand and quality first. Therefore, trust is universally scarce." "Now, massive amounts of information are a mix of fish eyes and pearls, of uneven quality. The cost of obtaining information has dropped enormously, but its quality is also cast into doubt," Dr. Neil Wang said. "Internet water armies, fake news, AI-generated forgeries, short-term behavior by unscrupulous individuals or small institutions... they have no historical lineage, no concept of long-term operation, and do not place brand and quality first. Therefore, trust is universally scarce." The keyword chosen for Frost & Sullivan's 65th anniversary is "Trust," and Dr. Neil Wang often reminds his team to do their daily work carefully and steadily, understanding that slow and careful work yields good results, and that one cannot achieve instant success. The keyword chosen for Frost & Sullivan's 65th anniversary is "Trust." Dr. Neil Wang frequently reminds his team to do their daily work conscientiously and steadily, with the understanding that slow and careful work yields fine results, and that one cannot pursue instant success. He explained that Frost & Sullivan builds trust on three levels: first, by providing credible methodologies—a set of standard operating procedures accepted by the vast majority of parties, with a degree of formality aligned with global standards; second, through historical lineage—over 65 years, the company has maintained an excellent industry reputation, covering hundreds of niche industries globally, and through sustained research has formed databases and industry knowledge bases to ensure information accuracy; third, by selecting only top-tier partners. The Awards of Pioneer Innovators in Industry Development co-hosted with Forbes China were born from such standards. He elaborated that Frost & Sullivan builds trust on three levels: first, by providing credible methodologies—a set of standard operating procedures accepted by the vast majority of parties, with a degree of formality aligned with global standards; second, through historical lineage—over 65 years, the company has maintained an excellent industry reputation, covering hundreds of niche industries globally, and through sustained research has formed databases and industry knowledge bases to ensure information accuracy; third, by selecting only top-tier partners. the Awards of Pioneer Innovators in Industry Development co-hosted with Forbes China were born from such standards. It is precisely this persistence that has won Frost & Sullivan's reports widespread recognition from major institutions worldwide. Dr. Neil Wang said: "In the process of serving as an exclusive IPO industry advisor over the years, our research conclusions must enter prospectuses and continuously undergo multiple scrutiny by regulators, investors, and the market. Over the past decade, Frost & Sullivan has consecutively maintained its leadership in market share as the professional industry advisor for Chinese enterprises listing in Hong Kong and overseas. In 2025, Frost & Sullivan's market share as a Hong Kong IPO industry advisor reached as high as 73%. This highly concentrated market recognition is itself a mechanism of trust." It is precisely this persistence that has won Frost & Sullivan's reports widespread recognition from major institutions worldwide. Dr. Neil Wang said: "In the process of serving as an exclusive IPO industry advisor over the years, our research conclusions must enter prospectuses and continuously undergo multiple scrutiny by regulators, investors, and the market. Over the past decade, Frost & Sullivan has consecutively maintained its leadership in market share as the professional industry advisor for Chinese enterprises listing in Hong Kong and overseas. In 2025, Frost & Sullivan's market share as a Hong Kong IPO industry advisor reached as high as 73%. This highly concentrated market recognition is itself a mechanism of trust." Frost & Sullivan pursues long-termism, and its systematic methodology applies to tracking cutting-edge technologies. In response to the AI wave, as early as seven or eight years ago when LeadLeo科创网 was founded, Dr. Neil Wang proposed the concept of "AI+HI" (Artificial Intelligence + Human Intelligence) in advance, and he has implemented it consistently. Frost & Sullivan adheres to long-termism, and its monitoring of cutting-edge technology follows this systematic approach. Facing the AI wave, as early as seven or eight years ago when establishing LeadLeo Science and Technology Innovation Network, Dr. Neil Wang proposed the visionary concept of “AI + HI” (Artificial Intelligence + Human Intelligence), and has consistently applied it. “AI can process large amounts of data and, under human guidance, filter out mathematical models—something beyond human capabilities,” he explained. “It’s like weeding: how many weeds can you pull by hand? But using a weeder, efficiency increases significantly. It’s not that humans are unable, but rather we assign tasks we aren’t good at to AI, which excels at them.” “AI can process massive amounts of data and, under human direction, screen out mathematical models—this is beyond human capability,” he explained. “It is like weeding: how many weeds can you pull by hand? But driving a weeding machine, efficiency soars. It is not that we humans are incapable, but rather we entrust tasks we are not good at to AI, which excels at them.” He then changed his tone: “AI has its limitations. For example, when one leaf falls, the wise know that autumn is coming; when a machine sees a leaf drop, it doesn’t understand what it means. Another example: an apple falling on Newton’s head and an apple falling on an ordinary person’s head produce two completely different results.” He then shifted his tone: “AI has its shortcomings. For example, when one leaf falls, the wise know that autumn is coming; when a machine sees a leaf drop, it doesn’t know what it means. Another example: an apple falling on Newton’s head and an apple falling on an ordinary person’s head produce two entirely different results.” Thus, at Frost & Sullivan, AI provides efficiency and breadth, while humans provide depth and judgment. Only by combining the two can truly trustworthy conclusions be achieved. Therefore, at Frost & Sullivan, AI provides efficiency and breadth, while humans provide depth and judgment. Only by combining the two can truly trustworthy conclusions be delivered. His technical philosophy aligns with China’s current AI development strategy and deployment. In China, Frost & Sullivan has operated continuously for 28 years. It has consistently maintained a high degree of localization, with its mission being to serve the nation and society, promote economic development, and enhance people’s well-being. It actively responds to China’s industrial policies and strategic transformation directions, contributing to major strategic initiatives such as the Belt and Road Initiative, dual circulation, dual carbon, enterprise globalization, brand empowerment, and Digital China. His technological philosophy resonates in frequency with China’s current AI development strategy and deployment. In China, Frost & Sullivan has operated continuously for 28 years. It has consistently adhered to a high degree of localization, with its operational mission being to serve the nation and society, promote economic development, and enhance the well-being of the people. It actively responds to China’s industrial policies and strategic transformation directions, contributing industry strength to major strategic layouts such as the Belt and Road Initiative, dual circulation, dual carbon, enterprise globalization, brand empowerment, and Digital China. Dr. Neil Wang believes: “The space in which we can exert influence in the future is enormously vast.” Because this company, having traversed 65 years, moves with light steps and remains full of curiosity about the future—“Top 50 Technologies Shaping the World,” “China’s Next 50 Years”… Frost & Sullivan has never stopped sharing its gaze toward the future with its readers. Dr. Neil Wang believes: “The space in which we can exert influence in the future is enormously vast.” Because this company, having traversed 65 years, moves with light steps and remains full of curiosity about the future—“Top 50 Technologies Shaping the World,” “China’s Next 50 Years”… Frost & Sullivan has never stopped sharing its gaze toward the future with its readers. Perhaps this is the most scarce and precious meaning of “trust” in this era: it is not a slogan, but a verifiable promise accumulated through long-term, steady perseverance. It comes from the practice of mutual benefit and win-win outcomes, from concern for people’s well-being, and from faith in long-termism. Perhaps this is the most scarce and most precious meaning of the word “trust” in this era: it is not a slogan, but a verifiable promise accumulated bit by bit through long-term, steadfast persistence. It comes from the practice of mutual benefit and win-win outcomes, from concern for the well-being of the people, and from faith in long-termism. Whether they are pioneers or those who support them, all must ultimately return to this simple yet indestructible truth. Whether pioneer innovators or those who support them, all must ultimately return to this simple yet indestructible truth. This article is licensed to Forbes and reproduced with authorization.

stand "At the new starting point of the 15th Five-Year Plan," 2026 The 'Annual Government Work Report' clearly states that it is necessary to cultivate and strengthen emerging and future industries, and promote industries such as biomanufacturing to become new economic growth points. Synthetic biology, as follows DNA The discovery of the double helix structure “and the third life science revolution following the “Genomic Technology Revolution” are leading the biomanufacturing industry into accelerated advancement 4.0 The era has become an important strategic fulcrum for reshaping the global material production mode. In the future, it will deeply reconstruct the development paradigms of industries such as biomedicine, advanced materials, consumer goods, energy, environmental protection, and agriculture. Vigorously developing synthetic biology and bio-manufacturing industries is not only a strategic opportunity to seize the global high ground but also an important path to accelerate the formation of new productive forces and achieve high-level scientific and technological self-reliance. Based on its long-term insight into the global cutting-edge technology and biomanufacturing industries, Frost & Sullivan frost  & Sullivan Frost & Sullivan, hereinafter referred to as 'Frost & Sullivan'), will launch the Global Synthetic Biology and Bio-manufacturing Industry Development White Paper ( 2026 The preparation and compilation of the white paper. This white paper will cover “government - give birth - learn - research - gold - The close collaboration and in-depth research results presented in this report aim to provide forward-looking structured insights and references for government agencies, investment institutions, industry sectors, and all sectors of society. Research content This white paper systematically reviews the global development landscape of synthetic biology and biomanufacturing industries. Through a detailed industrial chain map, it deeply analyzes the current development status of upstream tool layers, midstream platform layers, and downstream diversified application scenarios. From dimensions such as technological evolution, business logic, and market structure, it elucidates the strategic value of synthetic biology in reconstructing production logic, ensuring supply chain security, and driving green sustainable development.   In addition, we will focus on sorting out the industrial ecosystems and regulatory frameworks of major global countries such as China and the United States, comparing the differences in industrial ecosystems and development stages under different policy environments, and analyzing The synergistic relationship between 'regulatory innovation' and 'industry source development' includes promoting green and low-carbon transformation, ensuring supply chain security, and reshaping the industrial landscape. At the same time, the report will systematically deconstruct the development stage and industrial structure characteristics of the industry in light of the actual development situation of the Chinese market, and deeply explore the core driving forces behind the future leapfrog development of China's synthetic biology and biomanufacturing industries, so as to gain insights into future development trends.   Among them, for the chapters on upstream and downstream of the industrial chain, benchmark cases (parks, enterprises, industrial platforms, etc.), we sincerely invite relevant enterprises to cooperate. By sharing their first-person perspectives on how to face existing challenges and seize business opportunities, enterprises can showcase their core competitiveness such as business models, technology platforms, advanced processes, and ecological cooperation. These empirical cases will provide authoritative voices and focused dissemination windows for cooperative enterprises, as well as references for capital providers, research institutions, industries, etc., attracting upstream and downstream partners to actively join the enterprise ecosystem. Participating in the cooperation of this white paper will help enhance the brand voice of cooperative enterprises in the global market and assist in global brand building and product layout. Enterprise participation value   1. Global brand voice building and authoritative endorsement   The English version of the white paper will be made available simultaneously on well-known global news agencies (such as The Associated Press), mainstream financial media (such as Yahoo Finance), North American financial media and websites (Business Insider, Dow Jones MarketWatch, Benzinga, Wall Street Insider, etc.) and media from various regions around the world.   Relying on Frost & Sullivan's global media matrix and brand influence, the company will enhance its strategic position in the global synthetic biology and biomanufacturing sectors, helping to build brand influence and business credibility for the international market.   2. Establishing industry image and industry discourse power   This white paper will deeply integrate enterprise market research, technical insights, and industry practice cases. Relying on systematic and professional research results, it will help enterprises consolidate their professional image and strategic positioning in niche markets, highlight their leading edge in technology understanding, enhance their professional recognition and voice, and improve their visibility and influence within the industry and external markets.   3. Empowering ecological connectivity and capital value transmission   The white paper will serve as a core link connecting the industrial end and the capital end, accurately reaching investors in the primary and secondary markets, relevant government agencies, and upstream and downstream partners of the industrial chain. By deeply analyzing a company's business layout and core capabilities, it transforms the company's business potential into a 'logical language' understandable by the capital market, creating a high-value foundation for subsequent investment and financing matchmaking, government resource implementation, and strategic cooperation. White Paper Release Schedule   Project start time      : May 2026   The full report is now available.      : 2026 Global Growth, Innovation & Leadership Summit by Frost & Sullivan and the 5th New Investment Conference, August 4-5, 2026   Release channel   The Frost & Sullivan group has a creative matrix comprising over 30 financial platforms and financial media, operating accounts including Frost & Sullivan, LeadLeo, LiveReport (a big data platform), and more. The network has over 500,000 highly knowledgeable and affluent fans composed of investors, analysts, entrepreneurs, media professionals, and more.   Participate in cooperation     Please contact us     Frost & Sullivan China   Senior Partner and Managing Director   Yang Xiaocheng   Email: jacky.yang@frostchina.com   Frost & Sullivan China   Chief Medical Analyst   Sun Rong   Email: skyler.sun@frostchina.com   Long press to scan the QR code below, and we will contact you.