iMFG Intelligent Manufacturing Summit Currently, China's manufacturing industry is at a critical stage of digital transformation. On the technology supply side, software and hardware products have gradually covered all aspects of production and manufacturing; on the demand side, most manufacturing enterprises have successfully established entry points in application practices such as supply chain, production management, and data analysis, laying a certain foundation for transformation. Against this backdrop, 11 month 23 day, iMFG The Intelligent Manufacturing Summit was held in Shanghai. The summit specially invited senior managers from leading manufacturing enterprises at home and abroad, responsible persons for digitalization, technology companies and manufacturers with innovative cases and excellent solutions in the fields of steel, energy, machinery, automotive, light industry, etc. The summit focused on intelligent manufacturing, connected with the latest digital projects in the intelligent manufacturing industry, and made early arrangements for the future large market.   Frost & Sullivan Frost & Sullivan The executive director of Frost & Sullivan Greater China region, Mr. Xiang Wei, was invited to attend the summit and delivered a presentation titled   "Intelligent Manufacturing, the Core Engine Driving Future Industry" Executive Director, Greater China, Frost & Sullivan To power Data shows that as of 2022 In [year], China's GDP exceeded 121 trillion yuan, a year-on-year increase 3.0% , among which industry in China as a whole GDP Contributed the most, in China GDP In the industrial structure, 2010 Year-end 2022 Percentage of each year 40% , 34% , 31% and 33% Relying on the support orientation of government and marketization, as well as the development of industrial clusters, China's industrial added value 2022 Year-over-year 40 Trillion yuan. Xiang Weili said that the strong resilience of the manufacturing industry can provide a development foundation for future economic growth. Intelligent manufacturing, which can empower the digital upgrading of traditional industries and manufacturing, is in a stage of increasing demand. Its importance and necessity are becoming increasingly prominent. Pointing out to Wei Li, compared with traditional manufacturing processes, intelligent manufacturing processes have introduced different digital technologies into each link. At the same time, they can empower the manufacturing system with multi-organization collaboration and directly reach or manage terminal demands at each link, whereas traditional manufacturing processes only reach terminals after the product is launched. "The development of intelligent manufacturing is driven by factors such as rising labor costs, declining profitability, and the rapid development of foundational industries." Xiang Weili further explained that the continuous growth in the aging population leads to a reduction in the number of working-age people and manufacturing workers, thereby indirectly increasing labor costs and prompting enterprises to use intelligent manufacturing technology to cope with labor shortages; in the post-pandemic era, traditional manufacturing faces severe loss risks. Against this backdrop, the manufacturing industry has introduced intelligent manufacturing digital tools such as big data analysis and robotics to offset profit declines; upstream core hardware in the industrial chain, such as intelligent sensors and lasers, is in a stage of rapid iteration and innovation, accelerating large-scale applications. The localization rate of core software continues to rise, helping to facilitate full-process digital manufacturing. To consolidate their position in the global manufacturing industry, major countries are actively formulating intelligent manufacturing strategies, which has become a major trend in the development of global manufacturing. Looking at the upstream and downstream of the industrial chain, the upstream industries of the intelligent manufacturing sector mainly include basic hardware and basic software; the midstream industries consist of intelligent manufacturing equipment suppliers and intelligent manufacturing solution providers, among other system integration service providers; the downstream sector is primarily for market demand, including different industries such as automotive, electronics, and pharmaceuticals. Subsequently, he briefly analyzed the development overview of the cornerstone industries of intelligent manufacturing for each region. He pointed out that intelligent manufacturing integrates information technology, artificial intelligence technology, advanced manufacturing technology, and automation technology. Among them, the Internet of Things (IoT), big data, cloud computing, and artificial intelligence technology are the cornerstone industries of intelligent manufacturing. None of these can be dispensed with, and they jointly empower and support the intelligent transformation of manufacturing. As the underlying ecosystem, the Internet of Things has a huge market volume and helps to jointly improve intelligent manufacturing efficiency and returns. As the core region for global Internet of Things development, China's proportion of global connections remains stable at 40% Left and right, the market has a leading and guiding role. Cloud computing has gradually developed into an important driving force for national economic growth, further supporting the development of intelligent manufacturing. With the deepening of digital transformation, cloud computing has gradually become an important driving force for national economic growth and has been elevated to an important national strategic goal. The cloud computing market in our country 2027 It is expected to reach approximately RMB 1.9 trillion yuan, accounting for the global market share will be from 2022 year 15.2% Rise to 2027 year 23.4% . The big data industry is developing rapidly, empowering intelligent manufacturing to efficiently capture, manage, and analyze massive amounts of data. In recent years, policies have promoted the expansion of the big data industry. 2022 The market scale of data management solutions in China reached RMB 507 yuan 2018 Year-end 2022 The annual compound growth rate reaches 14.3% estimated 2023 Year to 2027 The year will continue to maintain stable growth. With the support of policies such as the 'Guiding Opinions on Accelerating Scenario Innovation to Promote High-Quality Economic Development through High-Level Applications of Artificial Intelligence' and the 'Guiding Opinions on Promoting the Deep Integration of Artificial Intelligence and the Real Economy', artificial intelligence is developing alongside computing power, data, and algorithms, accelerating the popularization of intelligent manufacturing. 2022 In [year], the market scale of artificial intelligence in China reached RMB 3,716 Yuan billion, expected 2023 Year-end 2027 The compound annual growth rate will exceed 30% . Further elaborates on the empowering role of intelligent manufacturing in the new energy vehicle industry, electronics industry, steel industry, and energy industry, with a focus on its potential impact on power. With the intensification of competition in the automotive market and the upgrading of consumer demand, low cost, high quality, and rapid delivery have become the goals pursued by major automakers and auto parts companies for transformation and upgrading. Intelligent manufacturing is driving the automotive production method towards gradual transformation and upgrading in the direction of flexibility, digitization, and intelligence, becoming a major development trend in the new energy vehicle industry. The electronics industry is an important area of international competition. The development of the electronics industry is related to a country's status and influence in international competition. In recent years, China's electronics industry has achieved rapid development and occupies an important position in the global electronics industry. With the continuous deepening application of intelligent manufacturing, various emerging technologies are contributing to information-based, automated, and intelligent production methods. In the future, intelligent manufacturing will become the core driving force for the high-quality development of the electronics industry. Steel, as an important basic industry of the national economy, is a crucial support for building a modern powerful country. The intelligent transformation of the steel industry is the core path for the high-quality development of the industry in the future. Intelligent manufacturing empowers all aspects of steel production, such as smelting, monitoring, pouring, management, and energy efficiency, helping the steel industry transform and upgrade, achieving production process automation, cost control, and marketing optimization. The Chinese energy and power industry has a huge market volume and is facing pain points such as serious environmental pollution, low energy utilization rates, reverse distribution of supply and demand, and significant safety hazards, which urgently require transformation. Intelligent manufacturing helps to build a green energy industry system, realize the vision of high-quality and low-carbon development of the entire industrial chain, empower the construction of an energy circular economy development model, and promote multi-faceted transformation and upgrading of the energy industry.

IFFM 2023 With the support of national policies, China's innovative medical device market is developing rapidly. For life science companies, it usually requires a significant investment in research and development costs upfront. From the start of R&D to final market launch, there are common challenges such as long product registration approval cycles and high initial investment costs. With the improvement of local medical device companies' innovation capabilities, intellectual property disputes and infringement lawsuits have become frequent in the field of medical devices both domestically and internationally in recent years, making the layout and protection of intellectual property increasingly important. Against this backdrop, 11 month 15 day -17 On the day of the 3rd China Intellectual Property Frontiers Medical Devices Forum IFFM 2023 ) was successfully held at Shenzhen Marriott Grand Hyatt Shenzhen Wanyue. This event was organized by YIP Events Intellectual Property Frontline New Media, Compliance Plus Co-hosted and received strong support from the Guangdong Medical Device Industry Association and the Shenzhen Patent Association. The two-day conference and half-day pre-conference workshop were held under the theme of 'Intellectual Property Risk Prevention and Control to Boost Innovative Development of Medical Devices', attracting 35+ Domestic and international medical device enterprises, “Internet + Medical & rdquo; Enterprises, research hospitals, court departments, industry patent lawyers / Presentation and sharing by proxy experts, 150+ Domestic and international medical device, smart healthcare enterprises, and 30+ Leading domestic and international law firms and agencies are actively participating. The attending guests mainly exchanged views on hot topics of public concern, including data compliance in the medical device industry, enterprise intellectual property risk prevention and management strategies, enterprise business secret and compliance system construction, analysis of investment trends in the medical device industry, hot issues and countermeasures in patent infringement litigation in the medical device field, etc.   Frost & Sullivan Frost & Sullivan Mao Hua, Partner and Managing Director of Frost & Sullivan's Greater China Region, was invited to attend the forum and delivered a speech on 'Exploring the Development Path of Innovative Medical Devices in China'. The speech covered the latest development trends and industry opportunities in China's medical device industry. Partner and Managing Director of Frost & Sullivan Greater China Region fattening Mao Hua pointed out that although China's medical device market has a large total volume, per capita consumption is still relatively low. Moreover, compared to the global market, the market share of high-value specialized medical devices in China needs to be increased. In recent years, the state has continuously introduced favorable policies to promote the development of innovative medical devices. At the same time, the normalization of centralized procurement of medical consumables is also forcing medical device companies to achieve breakthroughs through technological innovation. The medical device sector has received continuous capital attention, as shown in the data: 2019 Year-end 2021 In China, the number of medical device investment and financing transactions continued to grow, although 2022 The number has decreased annually, but the overall trend remains positive. A large number of investment and financing transactions are focused on the early stages. 2019 Year-end 2023 year 10 month 31 On the day, medical device investment and financing were concentrated in A Prior to this, the number of investment and financing transactions reached 1,158 rise.   "Overall, in the primary market, investments are made early-stage startups, platforms, incubators, and niche sectors. In the secondary market, companies choose listing more diversely, placing greater emphasis on commercialization capabilities and their own self-sustaining abilities," said Mao Hua. In addition, the accelerated return of overseas talents has provided rich talent resources for the development of innovative medical devices. The diversified cooperation model has injected vitality into China's medical device innovation. It is worth mentioning that driven by the pandemic, domestic device companies have made new breakthroughs in going global, with significant growth in China's medical device exports. In particular, the performance of in vitro diagnostic products has been particularly outstanding, and domestic high-end medical devices have gradually gained international recognition. Looking at the development of China's innovative medical device sector, in recent years, the leading tracks for medical device investment and financing have been relatively stable, with some tracks experiencing significant growth. As of 2023 year 10 month 31 On the same day, robotics, cardiovascular intervention, and medical imaging ranked among the top in terms of number of investment and financing transactions Top 3 , the most favored medical device sector by capital. According to Mao Hua, the robot era is subverting various traditional surgeries and presenting development trends such as informatization, intelligence, and minimally invasive techniques; the field of cardiovascular intervention is innovating in multiple dimensions including procedures, materials, and technology; in the medical imaging field, big data, intelligence AI The application trend of intraoperative image fusion technology is significant.   Finally, Mao Hua stated that medical devices belong to the high-end manufacturing industry and require innovative development alongside manufacturing collaboration. Manufacturing is one of China's strongest areas, with competitive advantages already established. After innovation catches up, China's medical device industry has moved from imitation to independent innovation, and in the future, it will further expand globally.   More wonderful moments from forums   About Frost & Sullivan's Life Sciences Practice   The Life Sciences Practice of Frost & Sullivan has professional analytical capabilities and extensive project experience in the field of life sciences. Leveraging Frost & Sullivan's global think tank resources and cross-industry business development platform in Greater China, the Life Sciences Practice has unique core advantages in investment and financing services for the life sciences industry. The Life Sciences Practice has a wide range of corporate clients in China and in the past 20 In the year, a vast customer network was established, accumulating a wealth of project experience in various subfields of life sciences. Project types include Knowledge Center projects (in-depth content, promotional activities). Pre-IPO financing project DCF model Valuation, Business Plan Services), IPO listing We provide listed projects (industry consulting, clinical audits, fundraising and investment writing), market research, market value management, and strategic consulting, among others. We also cooperate with well-known domestic and international information platforms and investment and financing institutions, offering one-stop solutions for enterprises in specialized sub-fields such as pharmaceuticals and medical devices. Our services have received widespread attention from investors.

China High-End Instruments, Testing and Measurement & Control Innovation and Development Forum 11 month 16 - 17 day, 2023 The High-End Instruments and Testing, Measurement & Control Innovation and Development Conference was grandly held in Wuxi. The conference is themed 'Innovation Collaboration, Self-reliance and Self-improvement', widely inviting forces from central enterprises in the instrumentation field, high-level universities, research institutes, private enterprises, financial institutions, etc., to jointly discuss deepening the innovation-driven development of the instrumentation industry and industrial collaboration, exploring new business forms that integrate various innovation elements; expanding the broad development space for major national strategic needs and economic battlefields, consolidating common foundations, aggregating 'four chains' resources, and strengthening the strategic scientific and technological strength of instrumentation through a new approach.   11 month 16 On the afternoon of the same day, Frost & Sullivan analyst Wen Shang was invited to give a speech at the China High-End Instruments and Testing & Measurement Innovation Development Forum under the theme of 'Strong demand for autonomy and control, and opportunities for domestic substitution of mid- to high-end electronic measuring instruments'. Frost & Sullivan analyst Wen Shang The report points out that the Chinese electronic measurement instrument market is one of the fastest-growing markets in the global market. Affected by favorable factors such as the booming downstream new energy vehicle market and the continuous advancement of digital and intelligent reforms in manufacturing, the scale of the Chinese electronic measurement instrument market 2018 Year-end 2022 Year-on-year at a high 12% The annual compound growth rate has increased. 2023 In [year], affected by fluctuations in downstream consumer electronics and semiconductor markets, the growth rate of the Chinese electronic measurement instrument market slowed down. However, it is expected that the overall market size will still be within 2023 Year-end 2027 Exceeding 10% The annual compound growth rate continues to rise. Judging from the investment and financing situation, the annual investment and financing of China's instrumentation industry 30 - 50 Between. Due to 2021 The year marks the beginning of the '14th Five-Year Plan' period, with active implementation of policies for domestic substitution of mid- to high-end products, and a high level of investment and financing interest in instrumentation. Currently, the instrumentation industry is in its early stages of financing. A Most are wheel and angel round financings, with the majority of financing enterprises located in Guangdong Province and Jiangsu Province. Specifically in terms of investment and financing for electronic measuring instruments: 2022 In 2023, the market heat rose slightly due to industry impacts. Currently, the heat is not high, but it is also a good time for bottom fishing. In US dollars, the market size of China's electronic measuring instrument industry is 2018 - 2022 The annual compound growth rate for the year 12.0% Among them, the oscilloscope segment has the fastest growth rate, with an annual compound growth rate of 14.9% . 2023 In [year], affected by fluctuations in downstream consumer electronics and semiconductor markets, the growth rate of China's electronic measurement instrument market slowed down. However, with favorable factors such as the booming development of the downstream new energy vehicle market and the continuous advancement of digital and intelligent reforms in manufacturing, the overall market scale is expected to remain at 2023 Year-end 2027 Exceeding 10% The annual compound growth rate continues to rise. In the market of electronic measuring instruments divided into different grades, prices for mid- to high-end products show an upward trend year by year. Although the demand is relatively small, the prices are high, thus accounting for a relatively large market share. Taking oscilloscopes as an example, 2022 In China, the market share of high-end oscilloscopes reached 52.6% It is expected that the high-end market scale will continue to expand, by 2027 The proportion of annual contributions has expanded to 60.0% , the high-end market is profitable. The document indicates that the changing trend in the global electronic measurement instrument market size is similar to that of the Chinese market. 2023 After the market growth rate slowed down in the year, it is expected to resume rapid growth in the following years. Global market 2018 - 2022 The compound growth rate for the year is 7.5% Compared to the slower growth rate of the Chinese market, China's share in the global electronic measurement instrument market is gradually expanding. 2022 The annual proportion reached 37.7% estimated 2027 Year-on-year growth to 40.0% . Wen then introduced the industrial chain of the electronic measurement instrument industry. The upstream of the industry is raw materials, mainly consisting of IC chips, electronic components, PCB board The display screen, packaging materials, etc., which are composed of, taking the raw materials of domestic leading enterprises as an example, IC The proportion of chip materials exceeds 50% Among them, the proportion of chip imports is in 45%-55% between; IC The most critical chip in the chipset is ADC chip, currently ADC The domestic self-sufficiency rate of chips is relatively low. 2022 Annual data is 13 - 14% In addition, high-end chips have been affected by the trade war, leading to a certain degree of bottlenecking. In the downstream market, high-end demand mainly comes from communications, aerospace, defense, etc. High-end customers have high brand loyalty and are not sensitive to price; they focus more on product performance and indicators. Mid-range customers have certain technical threshold requirements for products and also rely on brand reputation. The application end of basic-level products mainly includes daily-use instruments, with lower technical barriers. Looking at the competitive landscape of the overall Chinese market, the top five market shares are held by international companies. CR5 for 43% The companies are: Advantech, Rohde & Schwarz, Tektronix, LeCOS and ABB. Domestic enterprises including Lianxun Instruments, Puyuan Precision Instrument, and Dingyang Technology are mainly active in the mid-range and basic market segments and have a clear price advantage. With the continuous advancement of the domestic substitution process in the market, domestic enterprises have great development potential. The document indicates that from an international perspective, the development path of domestic high-end products mainly starts from two aspects: hardware and software. The most core aspect of hardware is chips, and leading international companies have autonomous chip layouts, especially in indium phosphide technology, which is a unique high-end chip technology globally. Taking Puyuan Precision Electric's use of its own-developed chips as an example, 2022 After the year when self-developed chips were installed, chip costs decreased 41.4% Gross profit margin increased 19% The average price of oscilloscopes has risen. 26% Revenue from products equipped with chips increased 94.5% . Therefore, local enterprises entering the high-end market need to improve hardware and bandwidth, as well as the corresponding supporting probes. In addition, software is equally important for high-end products; single measurements are difficult to meet the testing requirements of high-end users. The high-end market requires software to shorten development cycles and improve efficiency, as well as enhance the reusability of technology. Moreover, hardware products need to be softwareized; hardware is only responsible for signal acquisition and storage, while software is used for signal analysis and result display, accelerating the construction of testing systems and solving problems caused by hardware limitations.

Quanjude, which had made it onto the hot search list due to consecutive losses for three years 002186.SZ ), and this year's performance has clearly warmed up. Quanjude got rid of the past this year 3 Is the annual loss indicative of a warming up in the chain restaurant industry this year? What are the reasons for the industry's recovery? Have time-honored brand chain restaurant enterprises represented by Quanjude emerged from the downward trend? What challenges will they face in the future? What challenges do time-honored brand enterprises still need to face in the future?   Frost & Sullivan Frost & Sullivan Zhang Jian, Partner and Managing Director of Frost & Sullivan's Greater China Region, was interviewed by Time Weekly to discuss the development of the Chinese chain restaurant industry.   * Click "Read the Original Article" at the end of this text to read the complete report. Time Weekly Q Quanjude got rid of the past this year 3 Does the year-over-year loss indicate that the chain catering industry has seen a recovery this year? What are the reasons for the industry's recovery?   The recovery of Quanjude from losses not only indicates a significant release of catering consumption demand in China, with a noticeable rebound in the catering market, but also reflects the success of the company's own strategy. During the reporting period, Quanjude focused on the strategic positioning of a leading diversified catering industry group in China, promoting the completion of various tasks. In the catering segment, profitability was further consolidated, with significant achievements in dish innovation and adjustment; in the food segment, the foodization project of catering products was advanced in an orderly manner, continuously creating star hot-selling items. Both segments showed a healthy development trend in operations.   Reasons for the continuous recovery of the catering industry: （ 1 consumer promotion policies 2023 year 7 month 31 On the day, the National Development and Reform Commission issued the 'Notice on Resuming and Expanding Consumption Measures' (hereinafter referred to as the 'Notice'). According to the 'Notice', in terms of expanding consumption in catering services, relevant departments will focus on the following four areas: 1 Advocate healthy dining consumption, oppose food waste, support localities in hosting food festivals, create distinctive food districts, and carry out activities to promote dining consumption. 2 Optimize catering venues according to local conditions and extend operating hours in accordance with relevant regulations. 3 ) Cultivate “ breeding and planting bases + central kitchen + cold chain logistics + The 'Catering Store ” model aims to tap into the potential of the pre-prepared food market, accelerate the construction of pre-prepared food bases, fully embody the principles of safety, nutrition, and health, and improve the quality of catering and the standardization of distribution. 4 Promote transparent kitchens to ensure consumers can eat with confidence. Overall, the policies mainly focus on creating food events, developing the nightlife economy, promoting the construction of prefabricated dishes, and facilitating open kitchens and cooking areas to expand dining service consumption. （ 2 ) Recovery of the tourism market Since the optimization of epidemic prevention and control policies this year, the Ministry of Culture and Tourism has been continuously working on both supply and demand sides, introducing a series of policies to boost cultural and tourism consumption. These measures have promoted the concentrated release of tourism market demand and a significant increase in residents' travel frequency, playing a huge comprehensive role in driving up related consumption. Statistical data shows that 2023 In the first half of the year, the total number of domestic tourist visits reached 23.84 Yi, an increase compared with the same period last year 9.29 100 million, a year-on-year increase 63.9% ; Achieve domestic tourism revenue (total tourism expenditure) 2.3 trillion yuan, an increase compared with the same period last year 1.12 trillion yuan, growth 95.9% The number of tourist arrivals and revenue both reached the expected target of 'double growth' year-on-year. （ 3 Self-rescue of catering enterprises Since the beginning of this year, despite facing various unfavorable factors, major catering enterprises have still been actively seeking self-rescue through various means such as takeout, carry-out orders, ready-made dishes, and product structure adjustments. Q Are the time-honored brand chain catering enterprises represented by Quanjude out of the downward trend? What challenges will they face in the future? What other challenges do time-honored brand enterprises still need to face? Post-pandemic era, big data + Empowered by technologies such as artificial intelligence, supported by supply chain transformation and the new retail wave, brand catering chains have advanced with great momentum. Many entrepreneurs have found new entrepreneurial opportunities both within and outside local service giant platforms. Compared to these 'newcomers' in the catering market, established brands such as Quanjude are gradually emerging from their downward phase and beginning to innovate and develop. As the traffic dividend gradually subsides and customer acquisition and operational costs continue to rise, how catering brands build their own traffic pools and manage them has become a hot topic of concern across the industry. However, the formation and subsequent operation of traffic pools ultimately depend on the brand. The concept of a brand is not only about mental possession and trust endorsement; a good brand image itself is a huge traffic source. This is precisely the advantage that established brands possess.   Future challenges may include:     （ 1 (Catering consumption pays more attention to food safety and nutritional health.) Food safety and nutritional health are the cornerstones of the catering industry. After the pandemic, consumers' attention to their own health and demand for healthy diets have reached a new level, placing greater emphasis on the healthiness and nutritional balance of ingredients. Therefore, businesses need to focus on solving the problem of unpalatable nutrition and vice versa, providing more delicious and healthy food. （ 2 Return to the mainstream price range Currently, the competition in China's chain catering industry seems to have entered the second half. After the adjustment of epidemic policies and the industry's recovery, only brands within the mainstream price range can continue to develop and grow. This is because large-scale expansion is fundamental to the development of chain fast-food brands. （ 3 Diversification After three years of the pandemic, China's rapid growth has slowed down, and the demographic dividend is gradually disappearing. However, competition continues to increase, and Chinese catering has entered a period of stockpiling. Returning to the mainstream price range is not enough to support a brand's long-term development; a healthier approach is to enhance store growth, leading to repeat purchases, that is, to expand product categories. （ 4 ) into a new operating model Driven by consumption upgrading and the construction of new infrastructure, Chinese restaurants have entered an era of new operational models centered on serving new customer groups' needs, with new product services and technologies as breakthrough points. Unlike traditional restaurant operations, Chinese restaurants under the new operational model have achieved digital management of their stores, introduced intelligent technology equipment, effectively reduced labor costs, and enhanced store operational capabilities. Under the new operational model, catering enterprises should continuously innovate and transform. On one hand, they should innovate infrastructure construction. As SaaS systems, mobile payments, big data, and AI With the development and popularization of digital technology, the digital upgrading and transformation of catering businesses is of great importance. On the other hand, innovate operational models. Catering enterprises need to constantly innovate in product and service design, continuously improve quality, and utilize big data AI Optimize marketing methods and business models, explore new business forms, build an 'multi-level, diversified' product system, and achieve scale growth. （ 5 ) Transform marketing methods In marketing, Chinese catering enterprises need to not only focus on product quality but also pay attention to store decoration and corporate cultural image. The interior decoration style and atmosphere of Chinese catering brands have a direct impact on attracting customers. Creating a meaningful corporate brand culture can make the enterprise more popular among consumers. *   This interview was published in Time Weekly Reporter: Guo Peng, original title:    After three consecutive years of losses, Quanjude's net profit in the first three quarters of this year soared 140% Queuing at Beijing Qianmen Store for the Spring Festival 232 table    ">

As of 11 month 7 day, since the beginning of this year 9 The company has newly launched an issuance GDR Planned, Cumulative 21 home A Equity listed company issuance GDR Successfully accessed the European securities market, raising a total of over 110 billion US dollars. In terms of industry distribution, issuance GDR Enterprises have further expanded from traditional fields such as finance and power to new economy-related areas. Currently, successful issuances GDR of 21 home A Among listed companies, industries such as power equipment, machinery and equipment, and pharmaceutical biology rank at the forefront. And those that are planning and advancing GDR of 27 In terms of companies, there are more in industries such as household appliances, automobiles, and food and beverages.   why GDR Focusing on industries such as pharmaceuticals and new energy, which other sectors are expected to join in the future? What are the major needs in terms of overseas layout, financing, and attracting overseas investors? From the perspective of the secondary market, GDR Why is there insufficient liquidity after the issuance? How can we better attract long-term overseas investors?    Frost & Sullivan Frost & Sullivan Lu Jing, Partner and Managing Director of Frost & Sullivan's Greater China Region, was interviewed by Securities Daily to discuss Chinese enterprises GDR Development path.   * Click "Read the Original Article" at the end of this text to read the complete report. Securities Daily Q From an industry perspective, why GDR Focusing on industries such as pharmaceuticals and new energy, which other industries are expected to join in the future? What are the major needs in terms of overseas layout, seeking financing, and introducing overseas investors? As of now GDR The issuance is mainly in manufacturing sectors such as pharmaceuticals and new energy. Part of the reason is that most leading Chinese enterprises in these related fields have already played an important role in the global industrial chain. For example, in the new energy sector, China's overall production capacity and shipment share in various links of the lithium battery industry chain already account for a significant proportion globally. 50% In summary, expanding overseas market demand by going global is urgent. It has a significant impact on future sustainable business growth and enhancing global competitiveness. To further strengthen the international competitiveness of Chinese enterprises, attract international capital, experience, and teams, with continuous policy support, it is expected that more leading enterprises in various industries will explore GDR Issuance opportunities, such as high-end equipment manufacturing, ESG Industrial chain enterprises, etc. Overseas layout is crucial for leading enterprises in various industries in China. The migration of the supply chain and the overseas expansion of upstream and downstream enterprises have gradually shifted the overseas strategies of many industry leaders from consideration to necessity. Overseas localization service networks, production system construction, and the establishment of R&D centers are not only important foundations for enterprises in the fields of new energy, pharmaceuticals, and high-end equipment manufacturing to enhance their international influence and service capabilities, but also crucial for maintaining a keen insight into market demand and making judgments on future development directions. Q From the perspective of the secondary market, GDR Why is there insufficient liquidity after the issuance? How can we better attract long-term overseas investors? GDR There are several reasons for insufficient liquidity after issuance. Firstly, local investors from Switzerland, the UK, Germany, and other regions are relatively unfamiliar with Chinese enterprises and their products, which to some extent constrains their investment decision-making. Chinese investors also know less about the European market and are unfamiliar with processes, policies, and trading rules. The introduction of overseas long-term investors has an important impact on Chinese enterprises in enhancing their international market competitiveness. Long-term investors value complementary targets and businesses, the future development prospects of industries, and corporate values. Therefore, Chinese enterprises seeking overseas long-term investors can consider cooperation opportunities based on coordination and complementarity in upstream and downstream businesses and resources, such as jointly establishing R&D centers. At the same time, they should establish a complete and efficient communication feedback mechanism. Deeply integrate the values of both parties on the basis of mutual benefit and win-win results, in order to achieve long-term common development. *   This interview was published in Securities Daily Reporters: Xie Ruolin and Mao Yirong. Original title:    Issued on the Hong Kong Stock Exchange GDR Add one more example multiple A Share company consulting on issuance matters    ">

Recently, the innovative offline course 'Mastering Industry Research, Exploring Business Laws' jointly offered by the School of Innovation and Entrepreneurship at Peking University, Frost & Sullivan (Frost & Sullivan, abbreviated as 'Frost & Sullivan'), and LeadLeo Research Institute came to a successful conclusion.   This course is presented by Mr. You Haokun, the Chief Analyst of TMT at Frost & Sullivan LeadLeo Research Institute. Dr. Jin Yaoguang, a member of the Frost & Sullivan & LeadLeo Science and Technology Innovation Expert Committee and a member of the Employment and Entrepreneurship Education Steering Committee for General Higher Education Graduates of the Ministry of Education, as well as Mr. Yang Xiaocheng, Partner and Managing Director of Frost & Sullivan Greater China, serve as expert advisors to guide the course. The event has attracted more than a hundred students from various departments at Peking University to sign up for participation.   On the morning of October 29th, the opening ceremony of the course was successfully held. Liu Deying, Dean of the Innovation and Entrepreneurship College at Peking University, recounted the bond between the Innovation and Entrepreneurship College and Frost & Sullivan in his opening speech. He described how the two sides went from initial acquaintance to later cooperation and then to current in-depth exchanges. After many trials and tribulations, they finally created this course. He mentioned that during this process, based on consensus, both sides made many efforts for innovation and entrepreneurship education. Dean Liu Deying's words were filled with expectations for the students of Peking University and confidence in the future. He mentioned that the cooperation between the Innovation and Entrepreneurship College and Frost & Sullivan meets the career development needs of the students of Peking University, cultivates more innovative talents, and contributes to the development of innovation and entrepreneurship education and the future development of China.   Subsequently, Mr. Yang Xiaocheng, Partner and Managing Director of Frost & Sullivan Greater China, Co-founder and CEO of LeadLeo, briefly introduced the overall situation and development history of Frost & Sullivan, and shared with the students the significance of offering this course and mastering industry research theories and methodologies based on his own experiences. Learning industry research is crucial for students in setting their entrepreneurial targets, career planning, and finding the right direction in life.   Dr. Jin Yaoguang, a member of the Frost & Sullivan & LeadLeo Science and Technology Innovation Expert Committee and a member of the Employment and Entrepreneurship Education Steering Committee for Graduates from Regular Higher Education Institutions under the Ministry of Education, used projects such as Luckin Coffee and LeadLeo of China Agricultural University as examples to vividly illustrate the market value and social value of industry research, as well as its importance for personal ability enhancement, entrepreneurship, and employment.   In the formal course, Mr. You Haokun first introduced the course structure and requirements to the students, and explained the 8D research framework refined from years of project experience at the LeadLeo Research Institute, helping entry-level analysts quickly master research skills. Subsequently, Mr. You Haokun went deeper into analyzing industry definitions and classifications, introducing the 'five-step method' for sorting out the development history of industries to guide students into the field. Then, Mr. You Haokun shared how to analyze the current industry situation and predict industry trends from three dimensions: industrial chain, market size, and competitive landscape. In the final stage of today's course, students learned how to use the 'BrainPower' intelligent research writing platform for report writing and engaged in an in-depth Q&A session based on the course content.   On the morning of November 5th, Mr. You Haokun gave a special presentation titled 'Insight into Industry Macro Trends and Understanding the Context of Economic Development', helping students construct an overall understanding of the Chinese economy. Following last week's course, he further taught the methodology of policy and industry characteristic analysis. Finally, he shared with the students skills in creating research report PPTs and conducting first-hand surveys.   On the afternoon of November 5th, Mr. You Haokun shared two research cases. The first case analyzed how various industries can carry out digital and intelligent exploration in the new era of industrial digitization with simple explanations. The second case dissected the reasons for the formation of regional industrial clusters and the construction ideas of ecological cities under the concept of sustainable development. Finally, Mr. You shared the research findings of the Frost & Sullivan global 360° research team on the main trends driving transformational growth in 2023 (a year of resilience), broadening the students' global perspective and helping them better grasp development opportunities in the future era.   In addition to offline teaching, this course has specially set up an online Q&A session for students and formed six research groups on major topics. Senior analysts from the LeadLeo Research Institute, including Hao Shichao, Zheng Minyi, Liu Guiren, Yuan Xucong, Chen Xialin, and Tan Zhijian, have been invited to further introduce the core research methodologies in consumer entertainment, healthcare, metaverse technology, artificial intelligence, new energy vehicles, and finance sectors to the students. The students have actively participated and benefited greatly. Online live streaming sharing   The theoretical learning session of this course has been successfully concluded. To consolidate their knowledge, students will use the 8D research framework and course theory to independently write an industry research report on the 'BrainPower' intelligent research and writing platform. Those who complete the report will receive a completion certificate jointly issued by the School of Innovation and Entrepreneurship at Peking University, Frost & Sullivan, and LeadLeo Research Institute. In addition, the review team will select outstanding students based on their classroom participation and report quality, and issue them with a research report inclusion certificate. Excellent research reports will be included by Frost & Sullivan and LeadLeo and published publicly under the student's name on platforms such as Wind and Orient Fortune.   In the future, Frost & Sullivan and LeadLeo will continue to leverage their strengths in industry research, deeply empower the development of university-based innovation and entrepreneurship initiatives, and vigorously promote the integration of industry and education.   Peking University School of Innovation and Entrepreneurship   The Peking University School of Innovation and Entrepreneurship was officially established on December 13, 2017. It is a national-level innovation and entrepreneurship college construction unit, responsible for coordinating the construction of the National Mass Entrepreneurship and Innovation Demonstration Base at Peking University. The college serves as both a talent cultivation unit and a functional department of the university, responsible for formulating and implementing policies related to innovation and entrepreneurship education and practice at Peking University. It coordinates the planning and construction of the university's innovation and entrepreneurship ecosystem and resources, explores and constructs sustainable development innovation and entrepreneurship curriculum systems and education models, and cultivates leading talents in innovation and entrepreneurship with Peking University characteristics, Chinese sentiment, international perspective, and world-class standards.

2023 year 10 month 26 On the afternoon of the same day, the Shanghai Information Service Industry Association held its fifth session's fourth general meeting of members and the eighth council meeting of the fifth session at the Chuangzhi Tian Di Conference Center. Zhao Guangjun, deputy director of the Comprehensive Planning Department of the Shanghai Municipal Commission of Economy and Informatization, and other invited guests attended. Representatives of association member units were nearly 200 People attend the meeting,   Wang Chenhui, Managing Partner and President of Frost & Sullivan Greater China, was invited to attend this conference.     At this membership meeting and council meeting, the association was reviewed and approved 2023 Annual Report of the Secretary-General, Association 2023 Annual Supervisory Board Work Report, Association 2023 Annual financial report, 'Association Supplementary Council Member Election Procedures', 'Association Election of Directors and Supervisors List', list of newly added (exempted) council members, 'Shanghai Information Service Industry Association Membership Standards and Management System', 'Association Supplementary Vice President Election Procedures', list of newly added (exempted) vice presidents; the work of the association's Party committee was also notified; at the meeting, the Shanghai Information Service Industry Association Digital Music Audio Professional Committee was established. After a vote by the Council, Frost & Sullivan was appointed as the vice-chairing unit of the Shanghai Information Service Industry Association.   The election this time is an affirmation by the Shanghai Information Service Industry Association of Frost & Sullivan's expertise in capital market research and corporate consulting services, as well as its brand influence.   Second from the right: Wang Chenhui, Partner-in-Chief and President of Frost & Sullivan Greater China Region Driven by national digital economy policies, artificial intelligence technology and industry are in a stage of rapid development. This year 9 In January, Frost & Sullivan, in collaboration with the Shanghai Information Service Industry Association, LeadLeo Research Institute, Every Economy Technology, Shanghai Jingwen, SenseTime, Tencent Cloud, Shanghai University of Finance and Economics, Harbin Institute of Technology, and other institutions, jointly launched AI Text Creation Application Intelligent Capability Level Recommendation Book》, hoping to better address AI The challenges in the field of text creation are addressed by building bridges, providing competency levels, and guiding developers and users to collaborate more closely. This improves text creation quality and usability, benefiting AI Text creation tools development provides a clear blueprint to promote innovation and sustainable development in this field. 2023 The year marked the global establishment of Frost & Sullivan. 62 The anniversary is also the first time we have entered the Chinese market 25 Anniversary. As a global growth consulting firm, 25 Over the past year, Frost & Sullivan has pioneered 'Full-Service Investment Management (Total Investment Management, TIM "Providing comprehensive investment and financing services as well as various other professional consulting services for enterprises has made us a leading company in the field of investment and financing strategy consulting in China. We have served over ten thousand enterprises in listing and financing in all aspects; established a market position confirmation system, and pioneered “" FSBV The 'Frost & Sullivan' brand value model” has been translated into over 500 The enterprise provides market position confirmation and brand valuation services, and is considered one of the most powerful, professional, and influential comprehensive industry research institutions in the industry. Over the past decade, Frost & Sullivan has maintained its leading position as the industry research advisor with the largest market share for Chinese companies listing in Hong Kong and overseas; since 2019 year 7 Since the first batch of companies on the Sci-tech Innovation Board were listed, Frost & Sullivan reports have also been widely cited by industry leaders. A In the prospectus documents of a listed company. In the future, Frost & Sullivan will continue to uphold its corporate mission of 'Making the World a Better Place through Growth'. Based on the multiple guarantees of global brand heritage, strong professional expertise and high service standards, it will actively apply the new concepts and models of 'Omni-Channel Investment Management' and give full play to 5R (in other words PR Public Relations, IR Investor Relations GR government relations AR Analyst relations VR Value relationship) management advantages, achieving efficient collaboration with investment institutions, investors, industry-related parties, stakeholders, etc., to help Chinese enterprises actively explore sustainable development paths and achieve growth. At the same time, Frost & Sullivan will actively respond to the call of the Shanghai Information Service Industry Association, further leverage the active role of its vice-chairman unit, strive for collaborative innovation and win-win cooperation. It will join hands with the association and its members to actively explore on the path of 'serving enterprises, regulating the industry, and developing the sector'. The association aims to play a unique role and make due contributions to Shanghai's information service construction, thereby boosting the high-quality development of Shanghai's information service industry.   Shanghai Information Service Industry Association The Shanghai Information Service Industry Association (hereinafter referred to as the 'Association') was established in 2001 year 1 month 18 RIO is a non-profit social organization voluntarily formed by Shanghai information service industry enterprises, and its social organization assessment level in China is AAAAA level. It is reported that among the association members are traditional internet leaders such as telecom, mobile, unicom, Ctrip, and Shanda, as well as online new economy leaders and new generation internet companies such as Meituan, Ucloud, Rednote, iStock, Hala Travel, Liulishou, Fandeng Reading Club, iReader Group, Toutiao, Shumi City, Dataland, and more. 300 Home Membership Units. Since its establishment, the association has successively won national honors such as National Advanced Civil Organization, National Advanced Collective in the Information Industry System, National Advanced Grassroots Party Organization in Striving for Excellence, National Advanced Collective in Online Reporting Work, Shanghai Advanced Social Organization, Shanghai Women's Civilized Post, Shanghai Five-star Social Organization Party Organization, Shanghai New Economic Organization, and Five Good Party Organizations of New Social Organizations at both national and municipal levels. In recent years, the association has undertaken and carried out various major activities and industry exchanges, such as the Shanghai International Information Consumption Festival, Shanghai Radio Publicity Month, selection of top ten Internet entrepreneurs and new talents in Shanghai, Shanghai Digital Transformation Week, Shanghai Industrial Youth Innovation Competition, Shanghai Smart City Experience Week, 'One Network Connects Ten Million Citizens to Find Faults', Shanghai Information Consumption Cloud Summit, etc. These have created a favorable industrial development atmosphere and promoted the development of information service industries in Shanghai. For a long time, the association has been dedicated to serving enterprises, regulating the industry, and developing industries. It safeguards the market order of the information service industry and the legitimate rights and interests of its member units, enhances the level of integrity and self-discipline management in Shanghai's information service industry, and promotes the healthy development of the information service industry.

9th Real-Time Internet Conference   10 month 24 Today, by SoundCloud and RTE Co-hosted by the developer community RTE 2023 The 9th Real-Time Internet Conference opened in Beijing. With the theme of "Intelligence & HD", the conference launched a series of initiatives that cover the entire real-time internet ecosystem. 20 The remaining sessions of the forum and related activities include multi-dimensional content sharing such as technology development, trend insights, industry observations, and venture capital investment, covering AIGC Discussions on the hottest topics nowadays such as going global and digital transformation are held with technology elites from all over the world to jointly explore the future development trends and industrial directions of real-time internet.   Looking back at recent years, the education industry has been undergoing continuous changes. Policy adjustments have cooled down capital in the education sector, leading to a return to 'rationality' in education and an emphasis on the quality development of services. Additionally, artificial intelligence, real-time interaction, AR , VR The effective application of technologies such as AI in the field of education has come at an opportune time, driving the innovative development of educational services.   at RTE2023 At the education forum of the Real-Time Internet Conference, speakers from Frost & Sullivan ( Frost & Sullivan Industry experts from companies such as Frost & Sullivan, iQiyun, Tongcheng Tongmei, and Himalaya, including those in the education sector, AIGC The application in different tracks and teaching scenarios, as well as an in-depth exploration of the value and trends of future education, were discussed.     Mr. Zhang Jian, Partner and Managing Director of Frost & Sullivan Greater China, was invited to attend the event with the following presentation:   A speech titled "New Trends and Challenges in Educational Innovation under Capital Contraction" was delivered, sharing perspectives from various dimensions such as the educational dilemmas under capital contraction, the wisdom of educational innovation that breaks free from constraints, vocational education, and the challenges on the path of educational innovation. Partner and Managing Director of Frost & Sullivan Greater China Region Zhang Jian Zhang Jian stated that since the introduction of the 'Double Reduction' policy, the capitalization path for education and training institutions has faced numerous difficulties. Financing in the primary market has cooled down, and the market value of listed education companies in the secondary market has significantly evaporated. According to statistics, 2022 Annual financing for the education industry 121 Yield, year-on-year 2021 Decreased by [X]% annually 49.8% While traditional discipline-based educational institutions are seeking transformation, other tracks in the field of education are also gearing up. 2022 In the year, despite the poor performance of the overall industry, the vocational education sector achieved 43 Start financing, exceeding 2019 and 2020 The financing level for the year. It is also worth noting that educational informatization, vocational education, and quality education have become 2022 Highlights of the year, accounting for approximately 2022 Annual financing events for smart education 74% Despite the tightening overall financing environment, the field of smart education is gradually developing in a positive direction.   Educational innovation is mainly reflected in intelligent education innovation driven by technology and diversified vocational education innovation.   Smart education combines information technology with education and teaching, providing students, teachers, and educational administrators with a more personalized, flexible, and efficient learning and teaching environment. Zhang Jian pointed out that 2019 Since the beginning of this year, the infrastructure and equipment environment for smart education in our country has been basically established, innovative applications based on digital teaching have begun to emerge, and the number of innovative applications based on scenarios has gradually increased.   "Although the education sector has faced some challenges in the capital market, 5G , AR , VR , AIGC The evolution of technology is opening up a new path for intelligent education. From the perspective of the intelligent education industry ecosystem, whether it's upstream providers like SoundCloud, midstream consumer and enterprise-level electronic device suppliers, or downstream channel partners and users, everyone is contributing to the entire intelligent education industry chain. 'Zhang Jianshang said.   In the education market, smart education and AI , AR/VR The integration of technology will provide more possibilities for teaching, such as more three-dimensional and intuitive teaching content, personalized virtual learning environments, interactive learning, reduced teaching risks, and improved teaching efficiency.   Meanwhile, AIGC as AI The extension of technology, with its capabilities in various application scenarios such as text, audio, image, video, virtual environments, and code generation, may empower the development of the education sector in the future. Zhang Jian believes that with ChatGPT Representative large models will replace more and more scenarios in the future, ranging from simple drawings, language, writing to interactive dialogue, virtual teachers, virtual classrooms, virtual laboratories, and more. AIGC The future integrated with education.   In terms of vocational education, it can be seen from the many policies introduced by the state to promote the high-quality development of modern vocational education that the future vocational education market will receive more attention.   According to Frost & Sullivan research    Data shows that the vocational education market for academic qualifications in China has been growing steadily in the past few years. 2022 The scale of the annual vocational education market for academic qualifications has reached 5,994 Yuan billion, expected 2026 Year is coming 7,662 Yuan billion; in terms of revenue, the market scale of non-degree vocational education and training industries 2022 Annual achievement 2,445 Yuan billion, expected 2026 The year will grow to 3,317 100 million yuan.   Zhang Jian pointed out that vocational education will promote the realization of a closed-loop flow of individuals, enterprises, and society.   Many professionals in the workplace can obtain knowledge and skill enhancement beyond education and learning; enterprises can quickly acquire high-quality talent; society, based on solving employment issues, can gain a large number of enterprises with improved production efficiency, thereby contributing to the rapid development and stability of society.     Finally, Zhang Jian summarized,   The development potential of educational innovation is enormous, but it also faces various challenges such as educational inequality, lack of high-quality teaching staff, educational quality and supervision, the carrying capacity of new educational services, data security and privacy issues. It requires relevant policies for management, regulation, and support to achieve true educational innovation.

Against the backdrop of the wave of enterprise digital transformation and the booming demand for cloud computing, SaaS (Enterprise Services) Companies flock to Hong Kong for listing. 10 month 18 Today, Zhongqi Cloud Chain submitted its listing application to the Main Board of the Hong Kong Stock Exchange. Since the beginning of this year, Beisen Holdings, Fourth Paradigm, and Pharmacist Assistant have successfully listed in Hong Kong. In addition, many companies such as Qiniu Cloud, Baiwang Cloud, Huicaijiao, Yunzhisheng, Shengtong Technology, and Yingshi Intelligence have also submitted listing applications to the Hong Kong Stock Exchange.   why SaaS Companies have risen in prominence one after another and are vying to go public in Hong Kong? Applications have been submitted to the Hong Kong Stock Exchange this year. SaaS What advantages does the enterprise possess? From the perspective of policy background and industry demand, high-quality SaaS What elements do enterprises need to possess to successfully enter the capital market? Some believe that most SaaS The company's performance is still incurring losses. Coupled with increasingly difficult financing in the primary market, even if it goes public, the performance in the secondary market is also cause for concern. How do you view this? SaaS The development of the industry? Frost & Sullivan Frost & Sullivan Frost & Sullivan's Greater China regional consulting director, Zhou Mingzi, was interviewed by Wall Street Journal Insights to discuss China SaaS Enterprise development.   * Click "Read the Original Article" at the end of this text to read the complete report. Securities Daily Q why SaaS Companies have risen in prominence one after another and are vying to go public in Hong Kong? Applications have been submitted to the Hong Kong Stock Exchange this year SaaS What are the strengths of the enterprise? From the demand side, the government provides support for the digital transformation of small and medium-sized enterprises, and sub-sectors such as electronic signatures and finance and taxation also face rapid development opportunities. From the product side, GPT The emergence also brings SaaS Commercialization empowerment. The Hong Kong Stock Exchange has become SaaS The primary reason for companies going public is their lenient listing conditions and policy support for technology innovation enterprises. SaaS In enterprises, we observe companies that can provide integrated and systematic solutions, as well as those specialized in specific industries. SaaS The company has strengths. Q From the policy background and industry demand perspectives, high-quality SaaS What elements do enterprises need to possess to successfully enter the capital market? In light of current circumstances, some homogeneous companies that had previously gained market momentum through marketing within the industry are gradually being optimized by the market. Only companies with high-quality products can attract customers to continue paying, thereby increasing customer retention rates and further securing stable cash flow. In addition, vertical companies demonstrate better industry expertise, can provide more professional and personalized services, and form certain competitive barriers in specific industries, enabling them to more smoothly enter the capital market. Q Some believe that the majority SaaS The company's performance is still incurring losses. Coupled with increasingly difficult financing in the primary market, even if it goes public, the performance in the secondary market is also cause for concern. How do you view this? SaaS The development of the industry? In the current context of changing financing environments, low-price competition and marketing tactics can no longer provide a competitive advantage for enterprises. In their development, companies need to rely more on product strength and their own advantages for differentiated competition. In the future, the development direction of 'broad and comprehensive' enterprises may shift towards vertical integration, enhancing product capabilities in specific fields. Although the current industry background has put forward higher requirements for the development of companies, it has also promoted a healthier future industry. *   This interview was published in 'Securities Daily', with reporters Xie Ruolin and Mao Yirong. The original title was:    Software service companies flocked to Hong Kong for listing within the year Vertical companies have more advantages    ">

Recently, driven by Dr. Wang Xin, a global partner at Frost & Sullivan and Chairman of the Greater China Region, Frost & Sullivan has been approved as a liaison member of the China Listed Companies Association. This membership is a high recognition by the China Listed Companies Association of Frost & Sullivan's professional consulting services and brand influence.   China Listed Companies Association China Association for Public Companies , CAPCO ,hereinafter referred to as the 'Association'), on 2012 year 2 month 15 The establishment of the China Securities Investor Education and Research Association (CSIEER) was based on the 'Securities Law of the People's Republic of China' and the 'Regulations on the Registration and Management of Social Organizations', among other relevant provisions. It is a national self-regulatory organization formed by listed companies and related institutions, using the unified standardization of the capital market as a link to safeguard the legitimate rights and interests of its members. It is a non-profit social organization with legal person status. The China Securities Regulatory Commission (CSRC) is its business supervisory authority. As of 2023 year 10 Month, the association has council members 579 Name, Standing Director of the Membership 174 Name, member of the Supervisory Board 14 Name; Ordinary Member 2,962 Name, contact member 20 name. 2023 The year marked the global establishment of Frost & Sullivan. 62 The anniversary is also the first time we have entered the Chinese market 25 Anniversary. As the best growth partner with industry depth and breadth, 25 Over the past year, Frost & Sullivan has pioneered 'full-service investment management (Total Investment Management, TIM "Providing comprehensive investment and financing services as well as various other professional consulting services for enterprises has made us a leading company in the field of domestic investment and financing strategy consulting. We have served over 10,000 enterprises in their listing and financing needs in all aspects; we have established a market position confirmation system and pioneered the ' FSBV The 'Frost & Sullivan' Brand Value Model&rddquo; has been adopted by over 500 The enterprise provides market position confirmation and brand valuation services, and is considered one of the most powerful, professional, and influential comprehensive industry research institutions in the industry. Over the past decade, Frost & Sullivan has maintained its leading position as the industry research advisor with the largest market share among Chinese companies listing in Hong Kong and overseas; since 2019 year 7 Since the first batch of companies on the Sci-tech Innovation Board of China were listed, Frost & Sullivan reports have also been widely cited by industry leaders. A The prospectuses of listed companies such as stocks and ChiNext, research reports from primary and secondary markets, and other capital market disclosure documents. Frost & Sullivan has long cooperated closely with globally renowned investment banks, financial audit firms, law firms, top investment institutions, and industry-leading enterprises to build the most effective domestic investment and financing demand matching platform, capable of quickly forming comprehensive consulting service teams. In the future, Frost & Sullivan will continue to uphold its corporate mission of 'making the world a better place through growth'. With multiple safeguards including global brand heritage, strong professional expertise and high service standards, it will follow the guidelines of the China Listed Companies Association. The basic responsibilities of "service, self-discipline, standardization, and improvement", actively applying the new concepts and models of "pan-region investment management", and giving full play to 5R (in other words PR Public Relations IR Investor Relations GR government relations AR Analyst relations VR Value relationship) management advantages, achieving efficient collaboration with investment institutions, investors, industry-related parties, stakeholders, etc., enabling Chinese enterprises to actively explore sustainable development paths, jointly promote the high-quality development of listed companies, create long-term value for the country and society, and contribute to building a trustworthy and sustainable business world.