EY Fudan Most Promising Companies 2023 2022 Since the beginning of this year, in the face of a severe and complex external environment and the impact of the pandemic, the Chinese economy has advanced despite difficulties, maintained stability and improved steadily, with its development quality steadily enhancing. Currently,   The concept of developing a low-carbon economy and constructing an environment-friendly development model has gradually become the main thread of China's economic development. The report of the 20th National Congress of the Communist Party of China pointed out 'deeply advancing the energy revolution and accelerating the planning and construction of a new energy system,' indicating that the exploration and progress of new energy and technologies are of utmost importance to national development. More and more emerging enterprises are accelerating their intelligence, digitization, and greening levels, seizing the new opportunities for industrial digital upgrading and green sustainable development.    2023 year 9 month 26 Today, “EY Fudan Most Promising Companies 2023 The awarding ceremony and the High-Growth Enterprise Symposium were held in Shanghai.   Frost & Sullivan Frost & Sullivan Frost & Sullivan, referred to as the 'Frost & Sullivan Group', is the co-sponsor of this selection event. Dr. Wang Xin, a global partner of Frost & Sullivan and Chairman of the Greater China Region, attended the award ceremony as a representative of the co-sponsorship and a member of the selection committee. He delivered a welcome speech for the event and presented awards to some representatives of the winning companies. There are a total of 18 The enterprise was honored with the 'Most Potential Enterprise Award'. 14 The enterprise was awarded the 'Most Potential Seed Enterprise Award'. The emerging enterprises shortlisted mainly cover new energy and robotics. / Automation systems, intelligent manufacturing, life sciences / Medical equipment, mobile travel, agricultural technology / Eight major industries: modern agriculture, new retail, health services. Among the award-winning enterprises 10 Home from Life Sciences / Medical Equipment Industry 5 I come from the new energy industry, 5 Home belongs to robots / The automation system industry, represented by intelligent manufacturing and mobile travel, has also received considerable attention. In recent years, China's progress in the field of technology is evident to all, and society as a whole is gradually fostering a favorable innovation ecosystem, policy environment, and innovation culture, cultivating fertile ground for digital and green transformation and development.   He Zhaofeng, Chairman of the EY Fudan Most Promising Companies Selection and Managing Partner of EY's Listed Companies Services in Greater China, said:   "With the rapid development in the field of technological innovation, new applications and models emerge in an endless stream. Emerging tracks represented by artificial intelligence, robotics and automation systems, new energy, intelligent manufacturing, cloud computing, smart healthcare, etc., are booming, injecting continuous vitality into our economy and driving society towards a new era of digital economy. It is these enterprises that contribute their strength, helping our country accelerate its progress to the forefront of innovative nations, fundamentally transforming the driving force for development, and significantly enhancing the level of economic and social development and international competitiveness of our country. Potential comes from continuous breakthroughs and innovation, and high growth requires strong capital support." Chair of the EY Fudan Most Potential Enterprise Selection Campaign, Partner-in-Charge for Listing Services in Greater China at EY He Zhaofeng   As a global growth consulting firm, integrating the world 62 years of consulting experience, 25 Over the past year, we have dedicated ourselves to serving the booming Chinese market, helping SMEs with a global perspective 10,000 Our clients accelerate the growth pace of enterprises, helping them achieve growth, innovation, and leading benchmarks in the industry, as well as capital operation goals such as financing and listing.   Dr. Wang Xin stated that the rapid growth of the Chinese economy has created unprecedented opportunities and challenges for enterprises. During the three years he has served as a judge, Frost & Sullivan has witnessed the rise of one promising enterprise after another. With innovative thinking and courage, they continuously break through themselves, leading industry development. They have not only achieved great success in the Chinese market but have also expanded their territory on the international stage.   Dr. Wang Xin pointed out that the 'EY Fudan Most Potential Enterprise' selection is a national award with strict criteria, significant influence, and high value. Over the years, a large number of experts from the selection committee have dedicated a great deal of effort to uncover many high-quality emerging enterprises with great development potential through layers of evaluation. It has not only identified the most investment-worthy ones at present,   It serves as an industry benchmark in the fields of new energy and new technologies, and also provides an example for other enterprises to learn from and seize new opportunities.   "The significance and social impact of the 'EY Fudan Most Potential Enterprise' award lie in inspiring more Chinese companies to dare to innovate and expand, contributing to the sustainable development of the Chinese economy," said Dr. Wang Xin.   Global Partner and Chairman of Frost & Sullivan Greater China Region Dr. Wang Xin   In addition, Lv Changjiang, a professor at Fudan University, doctoral supervisor, and deputy dean of the School of Management at Fudan University, and Zhang Fengming, president of the China Financial Information Center, also delivered speeches at the award ceremony. Professor, Doctoral Supervisor at Fudan University, Deputy Dean of the School of Management at Fudan University Lv Changjiang President of China Financial Information Center Zhang Fengming   Bis Cong, Partner-in-Chief of EY Greater China, said: "Today's China is an era of continuous change, filled with opportunities and challenges. Although the complex macro environment brings great uncertainty to business society, it has also become a driving force for enterprises to innovate in organization and technology. Currently, digitalization and greening are two major trends. Against the backdrop of our country's commitment to promoting high-quality development, the award-winning enterprises have firmly seized the new opportunities of industrial digital upgrading and green sustainable development. They continuously explore and progress in new energy and technologies, representing the corporate model of innovation in today's business world. They continuously enhance their ability to recognize, seek, and adapt to changes, rapidly growing into industry leaders, bringing more opportunities and hope to the sustainable growth of the Chinese economy and society." Dr. Wang Xin presented awards to representatives of some of the winning enterprises   "EY Fudan Most Promising Startup"   The selection adheres to professional, objective, and open evaluation principles, based on a series of key indicators such as industry attributes, development models, and innovation capabilities. It aims to discover enterprises with excellent performance, healthy growth curves, and great development potential. The purpose of this selection is to recognize and encourage the practices of emerging enterprises that have made progress in the past year by uncovering their latest achievements and highlights within the industry market space. It seeks to create a platform for emerging enterprises to connect with domestic and international capital markets, integrate diversified resources within the ecosystem, help them shine brightly, and jointly promote high-quality development in China.   In the future, Frost & Sullivan hopes to continue collaborating with global think tanks such as EY, Fudan University, and the China Financial Information Center, top professional institutions, and authoritative media organizations to jointly empower a new generation of future industry leaders to achieve all-round success! EY Fudan Most Promising Companies 2023 Group photo at the award ceremony

AIGC Seminar on the Future Development of Education   2023 year, with ChatGPT The large model technology represented has triggered a 'tsunami' in the global industry, opening up even greater imagination space for the education sector. AIGC The storm has arrived, and how to make good use of this new production method, supply energy and capabilities to enterprises, alleviate the current employment market difficulties, and cultivate technical and innovative talents has become a topic of in-depth discussion in the education sector.     To seek new development and face the new era, Tencent Cloud and Tencent Education, in collaboration with Multi Whale, 9 month 14 On the 14th, Tencent's Shenzhen headquarters held an event themed “ AIGC A closed-door salon themed 'Future Education Development' provides a platform for industry experts, scholars, and entrepreneurs to exchange and share insights, focusing on the current development status and future trends of the industry, and discussing AI+ The direction of educational development implementation.   Frost & Sullivan Frost & Sullivan Mr. Zhang Jian, Partner and Managing Director of Frost & Sullivan's Greater China Region, was invited to attend the event and delivered a presentation on   Delivered a speech on "The Development Trend of Smart Education Industry from the Perspective of Technological Empowerment". Partner and Managing Director of Frost & Sullivan Greater China Region Zhang Jian   Zhang Jiancai AIGC The industry development insight was used as an entry point for the presentation. He pointed out that, looking at AIGC The development of the industry, in recent years, accompanied AI Technological upgrades and mature algorithm models, AI Painting and Intelligent Chatbots ChatGPT The successful breaking through the circle, AIGC Technology has reached a development inflection point.   According to the generated content, AIGC Applications can be categorized into text generation, image generation, audio generation, video generation, virtual generation, code generation, multimodal generation, and more. They are gradually expanding their application implementation across industries such as finance, e-commerce, media, film and television, entertainment, and many others, demonstrating content production automation.   Zhang Jian expressed that the continuous upgrading and iteration of deep learning models and network structures have enhanced AI The learning ability of the algorithm has driven AIGC With the development of technology, large models have become the mainstream trend in the industry. Deep learning has made continuous breakthroughs in language, vision, and multimodal directions, providing AIGC The advancement of technology provides strong support and new possibilities. However, currently, there are high barriers at the underlying algorithm model level, large models have not yet achieved a closed-loop commercial value cycle, and business models are not clear. With the stabilization of models, the open-source model will enable AI Large models have become the foundation of massive applications, networks, and services, thereby driving AIGC Development of intelligent creativity. The data shows, 2022 Year in China AIGC The industry market scale is only 74 Yuan, the market has shown a rapid growth trend. With AI Technological upgrades and iterations, as well as increasingly mature algorithm models, AIGC Accelerate penetration into multiple fields such as text, images, audio and video. AIGC An application explosion period is about to arrive.   expected to be launched 2027 Year in China AIGC The industry market scale will achieve leapfrog growth to 2,674 yuan, 2022-2027 The annual compound growth rate reaches 105% . From China AIGC In terms of business model distribution, pay-per-view is the mainstream model, accounting for as high as 60% ; however, with large models and AIGC The establishment of the application ecosystem, MaaS The service will be available at 2027 The year will gradually become the mainstream model, starting from 5% The proportion has increased to 47% . Zhang Jian pointed out that currently AIGC Track participants mainly include leading internet companies, AI Tech companies, research institutions, vertical market vendors, etc. In the future B On the endpoint market, cloud vendors will provide “ MaaS + IaaS "Combination punch service, implemented." IaaS Both revenue and incremental service revenue have increased; provided by vertical industry manufacturers SDK Product monetization or integrated implementation solutions; targeting C End-market, large model vendors +SaaS Manufacturers, by building for C The end product application realizes a business closed loop. " AIGC Technology is continuously upgraded and iterated, and leading domestic internet technology manufacturers are all AIGC Deploy related workloads in this area. Future AIGC It is expected to achieve complete self-sufficiency in content generation, with continuous diversification of industry applications and product types. At the same time, AIGC It is the key to enriching metaverse content and expanding its boundaries. AIGC It will be used as an important productivity tool to drive the development of the metaverse." said Zhang Jian. Subsequently, Zhang Jianjun analyzed the development trends of the smart education industry. Smart education is a new educational model developed based on modern information technologies such as computer vision and intelligent human-computer interaction, information communication and digital media, neural networks, etc. Its aim is to provide students, teachers, and educational administrators with a more personalized, flexible, and efficient learning and teaching environment.   Zhang Jian stated that, driven by favorable policies and technological empowerment, the smart education industry has developed in a standardized manner and continues to explore new development models. Looking at industry financing, 2022 The amount and volume of financing for smart education in the year declined significantly offline, with only 13.4 100 million yuan, number of financing documents 35 pieces, a decrease in each period 65% and 90% Investment in the capital market is cautious, and industry consolidation is accelerating. Driven by the wave of informatization, profound changes are taking place in the education sector. Sub-sectors such as educational informatization, vocational education, and quality education are receiving significant market attention, accounting for approximately 2022 Annual financing events for smart education 74% Among them, education service providers have achieved technology empowerment in the education field. Their financing amount and volume rank first in the segmented track, with the financing amount reaching 6.57 100 million yuan.   Zhang Jian pointed out that current financing for smart education is still mainly focused on the early stages. Technologies such as artificial intelligence, big data analysis, and virtual reality empower the education sector, effectively improving learning outcomes and user experience, and attracting early-stage investment.   At the same time, the proportion of strategic investments has increased, mainly due to leading enterprises in the smart education sector reaching cooperation with internet companies, educational institutions, media companies, etc., through strategic investments, to achieve resource sharing. According to a study by Frost & Sullivan, OMO （ Online Merge Offline Teaching helps enterprises reduce costs and increase efficiency, expand market coverage and influence through channel penetration, lower marketing costs, provide personalized teaching, and improve teaching outcomes.   " OMO Under the model, the market share of leading enterprises will further increase, and the online education business volume of regional offline training institutions is expected to accelerate growth. 'Zhang Jian said. Finally, Zhang Jianjian conducted a detailed analysis of the three major sectors: smart campuses, smart classrooms, and adaptive education.   Smart Campus   It can make intelligent decisions to optimize campus management and integrate high-quality educational resources. Currently, the main application scenarios are reflected in smart teaching, campus security, and comprehensive management. Data shows that 2022 In China, the market scale of smart campuses reached 997 Yuan, a year-on-year increase 5.4% are expected 2023 In [Year], the market scale of smart campuses will exceed 1,000 Yuan. According to calculations by the LeadLeo Research Institute, 2025 The market scale of China's smart campus industry is expected to reach 1,133 yuan, 2023 - 2025 year CAGR Expected to be achieved 4.4% Among them, the proportion of educational hardware equipment is about 70% .   Smart Classroom   It is conducive to realizing the sharing of educational resources and personalized learning for students. The modern teaching environment that combines advanced technological means with educational concepts brings about tremendous changes and development potential to the education industry. Currently, 45.4% The hardware manufacturers of the Smart Classroom are distributed across classroom interaction devices. 39.4% The manufacturers focus on general-purpose equipment, 15.2% Production of other related equipment. Typical application scenarios of smart classrooms include dual-teacher classrooms, which combine holographic teaching by renowned teachers with offline tutoring by instructors answering questions, as well as interactive classrooms. These are based on the existing teaching network, incorporating necessary software and hardware modules to 5G The platform is highly processed and supports a large number of intelligent devices and interactive terminals.   Adaptive education   It refers to intelligent technologies such as artificial intelligence, big data, and the Internet of Things, which, through data mining + User profiling, adaptive teaching, and dynamic adjustment of teaching and practice content to provide intelligent education with efficient personalized learning strategies can be divided into four scenarios: language learning, student situation analysis, automatic evaluation, and assisted teaching. The business model is divided into TO B and TO C Mode, with diverse product modes, can be broadly categorized into adaptive content and systems / Software and hardware. In terms of market size, the overall development is stable and improving. 2022 - 2027 The average annual compound growth rates of the market scale at the government and consumer ends for the year were 17% and 24% The consumer market has taken the lead in landing, 2027 The overall market is expected to achieve 1,800 RMB 100 million scale. Group photo of the event

How do you view the increasingly competitive new energy vehicle market today? Is there still room for new car-making startups? What is your opinion on the state's tightening of new energy vehicle manufacturing qualifications? Currently, it is basically very difficult to obtain independent applications. The NIO-style contract manufacturing model may also not work with the Ministry of Industry and Information Technology's requirement for 'dual qualifications.' Some mergers and acquisitions related to qualifications have also been halted. What are the reasons behind this? Is it very difficult for technology companies to enter the car-making industry? What is the biggest obstacle? What are your expectations for the future new energy vehicle market? Zhang Zhiwei, Executive Director of Partnerships for Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), and Xu Guangcan, Consulting Director for Greater China, were interviewed by Bloomberg to discuss the development of China's new energy vehicle market.   Bloomberg   How should one view the increasingly competitive new energy vehicle market today? Is there still room for new car-making startups? Xu Guangcan Frost & Sullivan Greater China Consulting Director   The new energy vehicle market is indeed highly competitive at present, mainly due to policy incentives and technological advancements that have reduced the cost of new energy vehicles and increased consumer acceptance. Coupled with the accelerated transformation of traditional automakers and the entry of new force brands, the market has become even more competitive.   Despite the increasingly fierce competition, there is still some room for new car-making startups. Baidu, for example, is a company with a deep accumulation in autonomous driving and artificial intelligence. Luo Ke or Jishi Auto also carry the entrepreneurial genes of the internet and high-tech fields. They basically have their own characteristics and advantages, such as unique insights in autonomous driving, intelligent cockpits, and in-car services.   Firstly, from the perspective of policy environment, governments around the world have introduced strict emission restrictions for traditional fuel vehicles and a large number of subsidy policies for new energy vehicle manufacturers in order to encourage the development of new energy vehicles. This is very beneficial to new car manufacturers. In addition, the growth of the new energy vehicle market has also promoted the improvement of the supply chain and the reduction in battery costs to a certain extent, creating a better market environment for new car manufacturers.   Secondly, the founding teams of new car-making forces generally have a strong technical background. For example, Baidu has a profound accumulation in artificial intelligence and big data, which gives them more possibilities in areas such as autonomous driving and intelligent connectivity. They can introduce products that are more technologically advanced and offer a better user experience through bold innovation, thereby attracting consumers.   However, the new energy vehicle market is a capital and technology-intensive sector, and new car-making forces need more time and substantial resource investment to succeed in this area. At the same time, they must also face many challenges, such as obtaining market access qualifications, consumer acceptance, brand building, after-sales service, etc.   Overall, competition in the new energy vehicle market is becoming increasingly fierce, but there is still a certain market space for new car-making forces with innovative capabilities, technological backgrounds, and the ability to precisely solve user pain points.   How do you view the state's tightening of new energy vehicle manufacturing qualifications? We understand that it is basically very difficult to pass the independent application process. The NIO-style OEM model may also not be viable with the Ministry of Industry and Information Technology's requirement for 'dual qualifications,' and some mergers and acquisitions related to qualifications have also been halted. What are the reasons behind this?   The state's tightening of new energy vehicle manufacturing qualifications may be due to various considerations. Firstly, this measure can effectively control the development speed of the new energy vehicle market, to avoid overheating and potential risks in the market, and to prevent some companies from becoming overly dependent on subsidies. Therefore, strict qualification control has been implemented.   Secondly, tightening qualification requirements may be aimed at encouraging innovation and technological progress. By raising the entry barriers, it can prompt enterprises to increase investment in research and development, improve product quality and technical standards, ensure the safety and quality of new energy vehicles, enhance the reputation of new energy vehicles in China, and thereby promote the development of the entire industry.   In addition, the government may also have taken into account factors related to national industrial policies and strategies. The new energy vehicle industry is regarded as an important direction for national development. The government may hope to guide the industry towards a healthier and more sustainable development by tightening qualification requirements, in order to avoid excessive low-price competition and resource waste.   Regarding the dilemmas of self-application and contract manufacturing models, this may be because the government hopes to encourage enterprises to develop independently and innovate rather than relying on contract manufacturing models. The government may place more emphasis on the technical strength and independent intellectual property rights of enterprises to ensure the sustainable development of the new energy vehicle industry.   In summary, the state's tightening of new energy vehicle manufacturing qualifications may be due to various considerations, including market risk control, technological progress, and industrial policies. These measures will increase the difficulty of market entry but are also aimed at guiding the healthy development of the new energy vehicle industry and ensuring the protection of product quality and consumer rights. Enterprises should closely monitor policy changes, adapt to new rules, and continue to strive to improve their technical level and market competitiveness.   Is it very difficult for technology companies to enter the car manufacturing industry? What is the biggest obstacle? For technology companies, entering the automotive manufacturing industry is indeed a formidable task. Here are some of the main factors that may hinder technology companies from entering the automotive manufacturing sector:   1. Technical barriers: Automotive manufacturing involves complex engineering and manufacturing technologies, including chassis design, power systems, body structure, etc. Technology companies often lack the technical strength and manufacturing experience related to automotive production, which may lead to difficulties in manufacturing and mass production.   2. Capital requirements: Automobile manufacturing requires a large amount of capital investment, including research and development, production facility construction, supply chain management, etc. Technology companies may need to invest heavily in establishing manufacturing bases and supply chain systems, which can be a huge challenge for some startups.   3. Market Competition: The automotive market is highly competitive, with many traditional automakers and new energy vehicle brands already in existence. On one hand, traditional automakers possess a large market share and brand influence. On the other hand, emerging new forces are gradually maturing in terms of technology and market. Technology companies need to find their position in this highly competitive market and compete with other competitors.   4. Regulations and Compliance Requirements: The automotive industry is subject to strict regulations and compliance requirements, including safety standards, emission standards, etc. Technology companies need to understand and comply with these regulations and standards, investing time and resources to ensure the legality and compliance of their products.   5. Supply Chain Management: Automotive manufacturing involves complex supply chain management, including parts procurement, production planning, quality control, etc. Technology companies need to establish a stable and reliable supply chain system to ensure the smooth progress of production.   In summary, technology companies entering the automotive manufacturing industry face challenges in multiple aspects such as technical barriers, capital requirements, market competition, regulatory compliance, and supply chain management. However, if technology companies can overcome these challenges and possess innovative technologies and business models, they still have the opportunity to succeed in the automotive manufacturing industry.   What are the expectations for the future new energy vehicle market?   Regarding the future new energy vehicle market, there are several expectations as follows:   1. Continuous growth momentum: With the increasing awareness of environmental protection and the government's continuous support for clean energy, the new energy vehicle market will continue to maintain its growth momentum. Moreover, as production scales expand and technical costs decrease, the prices of new energy vehicles will become more competitive.   2. Technological Progress and Innovation: The new energy vehicle market will continue to embrace technological progress and innovation. Developments in battery technology, charging infrastructure, autonomous driving technology, etc., will drive the improvement of new energy vehicle performance and provide a safer and more convenient travel experience.   3. Diversified product choices: With intensified market competition, consumers will have more options. Traditional automakers, new energy vehicle brands, and technology companies will introduce a wider variety of new energy vehicles to meet the needs of different consumers.   4. Charging infrastructure construction: With the popularization of new energy vehicles, the construction of charging infrastructure will be further advanced. The government and enterprises will increase investment, improve the coverage rate and charging speed of charging facilities to solve the charging problem.   5. Policy Support and Incentive Measures: The government will continue to introduce policies and incentive measures to support the development of new energy vehicles. This includes purchase subsidies, free parking, and exemptions from vehicle purchase taxes, among others, in order to promote the sales and popularization of new energy vehicles.   Overall, it is expected that the new energy vehicle market will continue to grow in the future, with more technological innovations and product choices emerging. With the improvement of charging infrastructure and enhanced policy support, new energy vehicles will become one of the mainstream choices for future travel. *This interview was published in Bloomberg, with reporter Cao Dong. The original title was: 'China's Push to Cool EV Growth is Upending Big Tech's Ambitions'.

ICVS China Autonomous Driving Expo   On August 26, 2023, the 2023 ICVS China Autonomous Driving Expo and concurrently held China Intelligent Automotive Industry Chain Exhibition, hosted by Huamao Group and Shanghai Connected Vehicle Association, successfully concluded at the Shanghai Auto Exhibition Center. This was the world's first expo covering the entire industry chain from advanced autonomous driving solutions to autonomous driving software and hardware, intelligent chassis, intelligent cockpits, electric drive, etc.   During the same period, the ICVS Global Autonomous Driving Industry Conference was held, featuring 11 sessions and engaging talks by over 100 industry leaders. The conference focused on topics such as intelligent cockpits, radar perception, intelligent automotive industry chains, simulation testing, digitization and intelligence, AI data, intelligent networking, information security and functional safety, chassis domain control and integrated driving and parking. The expo attracted a total of 23,172 visitors, with a cumulative attendance of 27,985. Over 500+ enterprises participated, and the conference audience reached 3,757 people. It presented an unparalleled pinnacle feast of autonomous driving, promoted the display of latest achievements and exchanges on cutting-edge technologies, and injected new momentum into the industry's development.   Zhang Zhiwei, Executive Director of Frost & Sullivan Greater China, was invited to attend the conference, participate in the 'The Drivery Ecosystem' annual innovation summit, and deliver a speech on 'Automotive Industry Trends and Innovation from a Global Perspective'. Zhang Zhiwei, Executive Director of Frost & Sullivan Greater China,                                   Zhang Zhiwei pointed out that global light vehicle sales reached 79 million units in 2022. According to Frost & Sullivan's forecast, the growth rate of light vehicle sales in 2023 will be 3.3%, reaching 82 million units, with the main growth coming from North America. The North American market will recover faster than other regions, but East Asia remains the largest market for light vehicles. Zhang Zhiwei stated that in the next three years, the global automotive industry will exhibit the following development trends: 1) Sustainable supply chain development; 2) Vertical integration in electric vehicle manufacturing; 3) The automotive industry's 'New Four Modernizations' (electrification, intelligence, networking, and sharing); 4) Next-generation battery management solutions for electric vehicles; 5) The rise of smart factories, etc. According to Frost & Sullivan data, in 2022, the sales of electric vehicles in China reached as high as 6.8 million units, making China the world's largest electric vehicle market for the eighth consecutive year. Currently, the penetration rate of electric vehicles has reached 26.7%, and it is expected to continue to grow at a high rate in the future. Norway, a Nordic country, leads the world with an electric vehicle penetration rate of 79.1%. Although the penetration rate of electric vehicles in the United States is only 7.2%, its market size is the second largest in the world. Zhang Zhiwei pointed out that the main trends in the development of electric vehicles in 2023 include: 1) continuous investment by OEMs in the electric vehicle field; 2) the emergence of digital products for electric vehicles; 3) practical exploration of vehicles' integration with the power grid/virtual power plants; 4) clarity in the fair standards for electric vehicle networking; 5) the popularization of high-power/supercharging capabilities; 6) the analysis and utilization of charging data. The Automotive and Transportation Practice Group of Frost & Sullivan has long conducted in-depth research on various market segments, providing professional consulting and insights for the entire automotive industry chain, new automotive technologies and trends, as well as transformation and upgrading. The listed company clients served include all segments of the automotive and transportation industry chain, including vehicle manufacturers, auto parts suppliers, logistics and mobility services, rail transit, etc.   2023 Frost & Sullivan New Investment Conference

Recently, policies to boost the automotive industry have been frequently introduced. On one hand, these policies focus on stimulating domestic demand and promoting automobile consumption. On the other hand, they emphasize enhancing the comprehensive strength of automakers and encouraging them to explore international markets. This year, China has surpassed Japan in automobile exports and become the world's largest automobile exporter. The rapid growth in new energy vehicle exports has had a significant promoting effect. From January to April, China exported 348,000 new energy vehicles, a year-on-year increase of 1.7 times. In the same period of 2022, this growth rate was also 92%. Has China's automobile export entered an 'era of gold'? What competitive advantages does the transformation of manufacturing and intelligent industries bring to automakers? What data and indicators can intuitively reflect a car company's competitiveness? To break through the global sales channels and supply chain systems established by foreign automotive brands long ago, domestic automakers still face several pressures. What areas of effort are needed to enable Chinese automakers to hold the definition and pricing power of new energy vehicles? Yang Xiaocheng, Partner and Managing Director of Frost & Sullivan Greater China, was interviewed by Securities Daily to discuss the development of China's automotive industry. Securities Daily   Securities Daily Reporter: With the trend of export recovery this year, products such as photovoltaics, lithium batteries, and new energy vehicles have performed particularly outstandingly. What are the reasons behind the 'new three items' driving this year's export growth? What competitive advantages does the transformation of manufacturing and intelligent industries bring to automakers? Yang Xiaocheng Partner and Managing Director of Frost & Sullivan Greater China Region   In the first quarter of 2023, China's exports of photovoltaic, lithium battery, and new energy vehicle products performed very strongly. The reasons for the outstanding performance of the 'New Three' products mainly include policies, technology, cost, international cooperation, and more. For example, in terms of policies, many countries and regions have taken active measures to promote sustainable development and emission reduction targets, providing broader markets and export opportunities for photovoltaic, lithium battery, and new energy vehicle products. In terms of technological leadership, China has developed a number of new energy enterprises in fields such as photovoltaics, lithium batteries, and new energy vehicles that are at the world's leading level in technical strength, such as LONGi, Zhonghuan, CATL, BYD, etc. Their leading photovoltaic and power battery technologies have already formed certain technical barriers in the global market. In terms of cost, with continuous technological progress in areas such as photovoltaics, lithium batteries, and new energy vehicles, and leveraging mature industrial chains and established economies of scale, the production costs of China's new energy products continue to decrease, making them more competitive in price and attracting more international market demand. In terms of international cooperation, Chinese new energy vehicle enterprises have developed rapidly, accumulating rich production experience and technical strength. Through active market expansion and international cooperation, Chinese enterprises have further expanded the scale and market share of their products exports. At the same time, Chinese enterprises are also continuously improving product quality and brand influence, making their products more competitive in the international market.   In addition, the transformation of manufacturing and intelligent industries has also brought certain competitive advantages to Chinese automakers. This includes introducing advanced automation and intelligent equipment to improve production efficiency and reduce costs; highlighting technological innovation and product differentiation, providing more competitive models to meet consumer needs; vigorously developing intelligent driving and connected functions to enhance interaction with consumers; actively expanding business models and value-added services, offering value-added functions such as connected vehicles, intelligent driving, and remote control.   Securities Daily Reporter: Behind the apparent data on China's automobile exports lies the related technology exports by Chinese automakers and the construction of overseas industrial chains. Chinese automakers are upgrading from simple goods export trade to output in terms of industrial chains and supply chains. What new requirements are these posing for Chinese automakers? Which data and indicators can intuitively reflect a company's competitiveness? Chinese automakers are currently upgrading from simple goods export trade to output in the industrial chain and supply chain. To achieve a comprehensive upgrade and evolution, Chinese automakers need to enhance their capabilities in multiple aspects, including innovation, quality management, market insight, and global assistance. In terms of innovation, companies need to strengthen technology research and development and cultivate high-quality talents with foresight; in quality management, Chinese automakers need to focus on product quality management and production processes that meet international standards; in market insight, they should deeply understand the differences between domestic and international market demands and formulate targeted market entry strategies; in assistance, Chinese automakers should strengthen cooperation with suppliers and partners to promote efficient supply chain operations.   Some data and indicators that can reflect the competitiveness of automakers include not only past export volumes, but also the countries and regions from which they export, as well as the amount of exports. It is also necessary to comprehensively examine the sustainable competitiveness of automakers by analyzing multiple dimensions such as their technological innovation capabilities, quality management levels, market promotion strategies, diversified product lines, globalization strategies, pricing strategies, brand image, global R&D capabilities, and after-sales service systems.   Securities Daily Reporter: If domestic automakers want to break through the global sales channels and supply chain systems established by foreign automotive brands, what other pressures do they need to face? What areas of effort are required to enable Chinese automakers to hold the definition and pricing power of new energy vehicles? Domestic automakers face many challenges when entering the global market. In addition to establishing global sales channels and supply chain systems, they also need to cope with pressures in technology, brand, manufacturing quality, and competitive environment. In terms of technology, internationally renowned automotive brands possess outstanding technical teams and leading R&D capabilities. Therefore, domestic automakers need to increase investment in technology research and development, improve their technical level and independent innovation capabilities, and continuously innovate and upgrade new energy vehicle technologies. Brand building is also crucial; domestic automakers need to create an influential and recognizable brand image, enhancing consumer awareness and trust through brand communication and market positioning. Manufacturing quality is a key factor in international competition; domestic automakers must continuously improve their manufacturing quality and cost control capabilities to ensure that products meet high international market standards and customer expectations. Finally, the international market competition is fierce, and internationally renowned automotive brands have strong brand influence and a wide customer base. Therefore, domestic automakers need to formulate effective market entry strategies and competitive strategies to enhance their competitiveness.   To enable Chinese automakers to grasp the definition and pricing power of new energy vehicles, efforts need to be made in multiple areas. Firstly, technological innovation is key. By increasing investment in research and development, improving technical levels and independent innovation capabilities, we can promote continuous progress and upgrading of new energy vehicle technology. Secondly, resource integration is necessary, especially the integration of industrial chain resources to enhance the controllability and competitiveness of the supply chain, especially in core components such as batteries and motors. In addition, brand building is also crucial. We should focus on creating and spreading brand images, establishing influential new energy vehicle brands, and increasing consumers' awareness and willingness to purchase Chinese brands. Finally, establishing partnerships is also key. By establishing close partnerships with international automakers, technology companies, energy companies, etc., we can jointly promote the development and innovation of new energy vehicles, strengthen industry cooperation, and jointly face global market competition challenges. Through efforts in these areas, Chinese automakers will be able to gain greater voice and market competitiveness in the field of new energy vehicles. *This interview was published in 'Securities Daily', with reporter Guo Jichuan. The original title was: 'Boosting the Auto Industry with Frequent Policy Releases to Further Release Consumption Potential and Drive the Recovery of Related Industries'.   2023 Frost & Sullivan New Investment Conference

Has the demand for medical aesthetics in China increased after the relaxation of the epidemic? Who is consuming it? Is the demand for medical aesthetics positively correlated with economic growth? Does the current downward economic pressure have an impact on the industry? Besides consumer demand, how is the development of China's medical aesthetics industry chain progressing? Can domestic medical aesthetic products currently meet consumer requirements? With more and more medical aesthetics institutions emerging, however, complaints about medical aesthetics are also increasing. How should the industry be regulated? 2017 The annual scale of the cosmetic surgery industry still exceeds that of the non-surgical aesthetics industry, but in just a few years, non-surgical aesthetics has surpassed it. Why?   Frost & Sullivan Frost & Sullivan Zhang Jian, Partner and Managing Director of Frost & Sullivan Greater China, was interviewed by China Media Group. CGTN "Financial Frontline Observation" Biz Focus Program interviews focused on the Chinese medical aesthetics market, discussing the current development status and industry regulation of the market.     CGTN·BizFocus Q   Many other skincare producers are also tapping into the industry. Data from research firm LeadLeo shows that domestic brands accounted for over 27 percent of the market share for functional skin care products in China.   The growing market share also stems from Chinese consumers' increasing knowledge of chemical-based beauty care and products. Many brands are emphasizing added ingredients such as Pro-Xylane in their products, so customers then conduct research on them. The more you know about these ingredients when you buy them, the more you pay attention to whether they provide solutions to problems. Nationwide, there are over 400 companies in hyaluronic acid related businesses. And globally, 82 percent of hyaluronic acid comes from China, putting it at the center of world production. CHEN TONG CGTN Reporter: "We know China has many giants in producing raw materials for light medical procedures, do you think the domestic industrial chain is complete enough?"   Although some people may say that foreign products used to dominate the Chinese market, recently this has started to change. Very large raw material suppliers such as Bloomage and IMEIK have a sufficient supply of their products. Not only in the upstream of the industry but also in the midstream and downstream, these product suppliers, practitioners, and doctors have been well-developed. China is in the middle of a rapid development stage in the industrial chain. Q CHEN TONG CGTN Reporter: 'Do you think the economic uncertainties are affecting the industry?'   It is certain that, like other consumer industries, the medical beauty industry is positively correlated with Chinese economic growth. However, economic downturns and uncertainties are most likely to have a negative impact on the supply side. Competition among practitioners will be fiercer. Some small groups and players may go bankrupt or be merged and acquired by large groups, but we still believe that there is a favorable future for China's medical beauty business. To date, the penetration of Chinese consumers is only 2 percent compared with 10 percent in developed economies. This means there is still room for China's growth. Additionally, we can see from the first quarter of 2023 that practitioners are seeing or witnessing a significant return of their customers. Q CHEN TONG CGTN Reporter: "There are more and more hospitals offering cosmetic procedures in China, but we are still seeing places without any licenses conducting cosmetic procedures. How should the market be further regulated?"   Part one is advertising and promotion, as there are so many players advertising their benefits. Therefore, the government is regulating these players to reduce their flamboyance. Without data support, they cannot show off their benefits. The second part of market regulation is that the government is issuing a lot of approvals or licenses for regulation. In the future, the market will be well matured, with better market supply and government regulations. This is a bright future for us. * This episode of the program has been 8 month 21 day CGTN broadcast   Reporter: Chen Tong    The program theme is:    BizFocus: More affordable and accessible medical procedures gaining popularity among beauty seekers    >>    .   ◾   Extended Reading Q Has the demand for medical aesthetics increased after the relaxation of the epidemic? Who is consuming it? A :   Judging from the changes in market demand,   The epidemic has affected the terminal customer flow and customer acquisition in the medical aesthetics industry, putting pressure on the medical aesthetics industry chain in stages.     The medical beauty industry is mainly offline, and the impact of the pandemic over the past three years has been recurrent, causing varying degrees of damage to the industry. 2022 Since the beginning of this year, 3 In the third quarter, Shanghai gradually recovered while the Chengdu outbreak emerged. At the end of the fourth quarter, epidemic control measures were lifted nationwide, and infection peaks were gradually reached in various regions. Against this backdrop 2022 The overall industry prosperity in the year fluctuated with the recurring pandemic.   In the post-pandemic era, as offline stores gradually resume operations, the demand for medical beauty consumption has rapidly warmed up.   Currently published 2023 The listed medical beauty companies that reported in the first quarter of this year have achieved very gratifying growth: 1 Beautiful Countryside: Based on as of 2023 year 5 month 31 The preliminary assessment of the Group's latest unaudited consolidated management accounts for the five months ended June 30, 2019, and the information currently available to the Board of Directors, 2022 As at the end of the period, consolidated management accounts that have been audited for the same period are expected to be 2023 year 6 month 30 Six months a year ( "During that period ) The Group's revenue will grow by approximately 40% The profit attributable to the company's owners will increase by approximately 400% This surge was mainly due to an increase in customer visits during the reporting period, which was attributable to COVID-19 pandemic The recovery result amidst the adverse impacts. In addition, since the company started 2023 year 1 month 16 Since its listing on the main board of the Hong Kong Stock Exchange, the reduction in listing costs has also contributed to this growth. 2 Langzi Co., Ltd.: The medical beauty business achieved operating income 4.6 Yuan, a year-on-year increase 30.68% . 3 Upstream supplier companies also showed significant growth. Aimeike 2023 Operating revenue in the first quarter of the year 6.3 Yuan billion, a year-on-year increase 46.3% .   From the perspective of consumer profiles,   The 'elderly patient' group is gradually becoming the main force in China's medical aesthetics industry.     2022 In [year], there have been significant changes in the age composition, consumption psychology, and behavior of Chinese medical beauty consumers. In the early development stage of the Chinese medical beauty market, the main user group was 25 Individuals under the age of 18. However, this demographic structure has undergone subtle changes. 2023 The data on the proportion of paying users by age group in the first half of the year shows that the age group 26 Users aged 18 and above now account for 50% As mentioned above, the evolution of the mainstream user demographic means that the consumption psychology and behavioral preferences of the core user group in China's medical beauty industry have changed. The age range is 26 The 'aged-based' population aged 18 and above is gradually becoming the main driving force behind China's medical beauty consumption. The age group is at 26 The increase in consumers aged 18 and above indicates that the age group for medical beauty consumption is starting to shift later, especially among 26 Year-end 35 The age group of [X] years old. This trend may be related to the pressures faced by young people in terms of education, work, and daily lifestyle.   The growth of the novelty-seeking group is weak, with highly loyal customers being the main consumer group.   currently 26 year -30 The number of “prime-aged” beauty seekers is almost as high as 20 - 25 The age group of “taste-takers” is comparable to that of beauty seekers. In addition, many well-known medical beauty practitioners have their core consumer groups consisting of 35 Year 45 The main age group is around [a specific age], characterized by frequent and consistent medical beauty consumption. Data from the New Oxygen platform supports this observation, showing that medical beauty consumers who make five or more transactions dominate this age group. 2023 In the first half of the year, among five or more medical beauty treatments, age 35 - 40 The proportion of people aged 60 and above is the second highest ( 15.3% ), age in 41 The proportion of people aged 60 and above is the highest ( 17.0% ), and this proportion shows a linear increasing trend with the increase of user age. This phenomenon can be attributed to three main factors: First, as users age, their consumption psychology becomes more rational and their behavior more stable. Medical beauty consumption has become an integral part of their daily lifestyle. Second, medical beauty consumption, especially light medical beauty services, usually requires multiple sessions to achieve noticeable results. Given that users focus on achieving desired effects, they are willing to undergo frequent services to meet their beauty expectations. Third, medical beauty consumption has high unit prices and significant decision-making involvement. Once users have identified a reliable medical beauty institution and doctor, they tend to anchor their loyalty and trust, unwilling to bear the 'replacement cost.' This loyalty or trust is clearly reflected as 'user loyalty' or 'trust.'   In summary, the pandemic has affected the penetration of new customers, with demand mainly driven by high-end existing customers.   From the perspective of purchasing power and customer structure, medical aesthetics belongs to mid-to-high-end discretionary consumption, with significant differences in per capita consumption. High-end and loyal customers have relatively stronger resistance to external influences on their purchasing power and willingness to consume. The pandemic may have delayed rather than canceled project consumption due to temporary lockdowns, but post-pandemic medical aesthetics consumption will mainly be driven by such customers. Conversely, during fluctuations in the pandemic, new customers will shift their income and expenditure towards savings, basic products, or higher-value discretionary categories, leading to a weakening demand for medical aesthetics. Taking the beauty countryside as an example, 2022 Affected by the pandemic, active members, that is, existing customers, still contributed to traditional beauty services 94% Revenue, while the growth rate of active members slowed down year-on-year to +0.3%/+10.9% This slowdown may be attributed to the overall decline in passenger flow, leading to a reduction in the number of new customers, which in turn affects 'new customer - member - The conversion rate of 'active members' suppresses the consumption and repurchase intentions of new customers and non-retained customers. Q Is the demand for medical beauty positively correlated with economic growth? Is there any impact of the current economic downturn on the industry? A :   Similar to other consumer industries, medical aesthetics has consumption attributes, meaning that there is a positive correlation between medical aesthetics demand and economic conditions. The recovery of medical aesthetics is driven by the return of customer traffic, and overall, the industry's rebound prospects are promising.    Many institutions are 2023 The business plan and objectives for the year show optimism, with the expansion strategy expected to return to normal.   We expect the recovery of the medical aesthetics industry to unfold in four stages: The first stage: travel restrictions are lifted, and passenger flow rebounds; the second stage: customer visits and consumption frequency increase, leading to a recovery in institutional profitability; the third stage: demand at the institutional level recovers and is transmitted to upstream suppliers, entering a period of strong supply and demand; the fourth stage: the economy and society operate stably, per capita disposable income rises, expenditure structure changes lead to an increase in the willingness to choose discretionary consumption, coupled with an increase in the penetration rate of medical aesthetics. This will lead to a continuous expansion of demand and consumer groups, and a sustained industry dividend.   Currently, the recovery of the medical aesthetics industry has entered the first phase: recovery of existing customer traffic + The era of profit recovery.    We believe that as passenger flow recovers and profitability improves, there is hope to see an overall recovery in industry confidence for growth in the future. With economic recovery and an increase in per capita disposable income, we expect the industry penetration rate to recover at a growth rate, and we continue to be optimistic about the performance and resilience of leading companies.   From a demand perspective, against the backdrop of slowing economic growth, the overall market expansion of the industry has slowed to some extent, but has not yet reached a critical level.    .    This is mainly due to the relatively low penetration rate of medical aesthetics in China. 2021 annual about 2% far lower than that of developed countries 10% Currently, China's demand for medical aesthetics is being driven by a continuously growing penetration rate.   We believe that the economic downturn has placed more stringent demands on the supply side, specifically medical beauty institutions. The competitive landscape of the industry will show the following trends: ·            The era of large-scale medical beauty chains is upon us.   It is well known that customer acquisition costs are an important expense for medical beauty institutions. In addition, under the pressure of strictly following policies, operating costs are expected to rise significantly. At the same time, due to the maturity of the supply chain and fierce competition, the unit price of medical beauty services has been continuously decreasing, making cost reduction and efficiency improvement a common challenge faced by all industry participants. Non-surgical medical beauty categories focus on the combination of doctors' professional knowledge with product and equipment technology, and medical beauty institutions are becoming less dependent on individual doctors. It is foreseeable that compliant leading medical beauty institution enterprises will further increase their concentration, with large chains being one of the future development trends for Chinese medical beauty institutions.   The Matthew effect of leading brands is becoming increasingly prominent.   Trust will become one of the most core user decision-making factors. Large brands have a natural advantage in acquiring new users and are also the foundation for cultivating loyal customers. Q In addition to consumer demand, how is the development of China's medical beauty industry chain progressing? Can domestic medical beauty products currently meet consumers' requirements? A :   After nearly 30 With the development of the past year, China's medical beauty industry chain has entered a mid-stage of rapid development, and many stars and unicorn enterprises have emerged at various nodes of the industry chain.    For instance, the upstream of the industrial chain has given rise to many star enterprises such as Huaxi Biotechnology and Aimeike. At the same time, under the backdrop of the pandemic, investors have expressed a high enthusiasm for investment. 2022 In the year, several capital mergers and acquisitions took place in the medical aesthetics industry, with optoelectronic equipment from Lite Medical Aesthetics being a major acquisition and integration segment. The midstream of the industrial chain has given birth to many listed companies such as Hua Han, Peng Ai, Lang Zi, and Yisi, as well as large-scale enterprises like United Li Ge, Yimei'er, Yixing, and Meile. As a professional medical aesthetics service platform, New Oxygen has also 2019 Completed going public in the US in 2021. Functionally speaking, domestic medical beauty products are currently sufficient to meet consumers' needs. The products are continuously iterating with mature technology, and the structure of medical beauty services in China has also changed over the past few years: ·            The pandemic has affected the demand trend for medical aesthetics, with high-end light medical aesthetics showing resilience.   From the perspective of project structure, the options and average prices of medical aesthetics projects are ranked from high to low as follows: surgical procedures, injection fillings, and skin management. Among them, surgical procedures have seen a gradual decline in proportion due to their higher pricing, longer recovery periods, and weaker natural results in recent years, especially under the wave of light medical aesthetics. The demand for skin management is resilient but tends to be driven by high-frequency, medium-to-low-price products, which have a volume-oriented nature. The frequency of visits to clinics has been greatly affected by the pandemic. High-end, long-acting injection products have had less impact due to their better fit for the mainstream customer group and the profit-seeking needs of institutions during the pandemic.   The growth rate of traffic-oriented big products has been affected by passenger flow during the epidemic. New products & Profit-oriented products performed better.   Against the backdrop of damaged passenger flow, the growth rate of traffic-oriented big products has been affected. Hi-Tech Beauty, as one of the few compliant third-category water-based skincare products in China, has a strong traffic-oriented nature. Since its launch, it has been highly recognized by the market for its outstanding competitiveness due to product compliance and scarcity of indications. To date, the institutional coverage has also reached a certain scale. 2022 In the context of a decline in passenger flow due to the pandemic in [year], the number of solution products under Aimeike, represented by [product name], increased year-on-year. 23.5% The growth rate has slowed down; in contrast, the regenerative category, which was launched over a year ago, is still in a phase of rapid expansion. The year-on-year growth rate of gel injection products under Aimeike, represented by Ruyan Dayushi, is as high as 65.6% , The Girl's Needle brand under Huadong Medicine achieved 6.25 100 million yuan in revenue 2022 The overall renewable products segment enjoyed category dividends, with a high growth rate against the backdrop of the pandemic. Q There are more and more medical beauty institutions, but complaints about them keep emerging. How should the industry be regulated? A :   National institutions should play the primary supervisory role, with industry chain participants cooperating with supervision.    It can be seen that in recent years, the state has continuously strengthened its law enforcement efforts against the medical beauty industry, leading to a significant increase in start-up costs. In the administrative penalty information published by Junhe Law Firm and Weike Xingyuan Legal Information Database, 'medical' + "beauty" is the keyword that yielded results. 2019 The number of administrative penalty cases for medical aesthetics in the year is 4,400 Starting from, about 2018 Number of cases in the year 2 times, 2020 year and 2021 The number of medical beauty administrative penalty cases in each year is as follows: 4,679 rise and 5,956 In this process, some medical beauty institutions and platforms are also making continuous efforts, conducting strict reviews of information on their platforms, and handling and intercepting any violations of regulations by institutions, doctors, information, etc.   The regulatory trend in the medical beauty industry has further strengthened, and the regulatory system has gradually become more complete.   The main policies include those of seven ministries and commissions including the National Health Commission 2021 year 6 The 'Special Rectification Action Plan for Combating Illegal Medical Beauty Services' was released in [month]. The plan aims to rectify the beauty and medical industry, addressing issues such as illegal beauty medical services, unauthorized production and sale of drugs and medical devices, false advertisements, and information. This indicates that the government is committed to implementing stricter supervision over beauty medical services. In addition, the State Administration for Market Regulation has 2021 year 11 The 'Medical Cosmetics Advertising Law Enforcement Guidelines' released in January emphasize the supervision of medical cosmetics advertisements, highlight that consumer protection laws apply to beauty medical institutions, and recognize the consumer nature of medical cosmetic services.   2022 In [year], there were two clear trends in medical aesthetics regulation: more precise regulation, focusing on the 'true information about medical aesthetics', and comprehensive supervision covering all aspects of the industry's supply chain. Q : 2017 The annual scale of the cosmetic medical beauty industry still exceeds that of the non-surgical cosmetic medical beauty industry, but in just a few years, the non-surgical cosmetic medical beauty industry has surpassed it. Why? A :   Firstly, with the development of society and the increasing pursuit of beauty in appearance, the demand for non-surgical, non-invasive cosmetic methods has gradually increased. Light cosmetic procedures typically include injection fillings, skin management, etc. Compared to traditional major cosmetic surgeries, these procedures   It is safer, more convenient, and has a shorter recovery time.   Therefore, it is more favored by consumers. Secondly, technological progress and innovation have also supported the rapid development of light medicine and aesthetics. New medical aesthetic technologies and products are emerging continuously.   This makes the effects of light medical beauty projects more natural and the user experience better, further stimulating consumer demand. In addition,   Marketing and promotion have also played an important role in the growth of Light&Made Beauty.   Lightweight medical aesthetics projects usually show significant results in a short period, providing this immediate satisfaction to better attract consumers and encourage them to choose lightweight medical aesthetics projects. Finally,   public opinion and celebrity effects also influence the rapid growth of lightweight medical aesthetics.   Many celebrities and social media influencers publicly share their experiences with medical aesthetics, attracting more people to pay attention to lightweight medical aesthetics projects and thus promoting the expansion of the market. 2023 Frost & Sullivan's New Investment Conference and more

2023WWEC Educators' Conference 2023 year 8 month 20 day -22 day, ninth session WWEC The Educators' Conference was successfully held in Shanghai. This session of the conference   Initiated by Mr. Song Hui, with the guidance of the China Private Education Association, Shanghai Modern Service Industry Federation, and Shanghai Private Education Association, and hosted by Jiajia Youpin, with Junxue Academy, Yanchuan Book Culture Media, Duojing, Lianhehui, EMBA The Resource Center, in collaboration with Youpenglai Technology, brings together experts, scholars, and social elites from various fields such as capital, academia, education, culture, politics, and business. Centered on education, it conducts collisions and exchanges at multiple levels and dimensions through keynote speeches, roundtable forums, seminars, and sharing sessions. since 2013 starting from WWEC The Educators' Conference has been successfully held in Shanghai for eight sessions, becoming a large-scale comprehensive brand event that brings together multiple institutions, brands, elements, and forms from both inside and outside the industry. It has won widespread praise from people of all walks of life in China and abroad and has been hailed by mainstream media at home and abroad as the highest-standard annual event in the Chinese education sector.   2023WWEC The Educators' Conference focuses on 'Education Makes Life Better'. The ultimate goal of education is to serve life, and it becomes true education through the power of life. Participants will discuss how education can play a key role in personal growth, social harmony, and global sustainable development, consider how to improve the quality and fairness of education, and how to cultivate students' innovative abilities and global awareness. Education is about enabling everyone to create and also to better enjoy life. Frost & Sullivan Frost & Sullivan Liu Wenjun, Executive Director of Frost & Sullivan Greater China, was invited to attend the conference and delivered a keynote speech titled 'Strengthening Foundations, Cultivating Core Competencies, Upholding Integrity and Innovation: The Trend of Vocational Education Development in China in the New Era'. Executive Director, Greater China, Frost & Sullivan Liu Wenjun Liu Wenjun pointed out,   The three main factors driving the development of vocational education in China are: people's livelihood and economic development, which are endogenous demands for vocational education development; the government's primary role in the process of vocational education development; and social forces, which are an important supplement to modern vocational education development. past 15 During the year, due to the continuous rise in the scale of structural unemployment caused by industrial structure adjustment, solving the problem of structural unemployment has become an urgent task to improve labor skills. At the same time,   The structural unemployment population and the talent gap formed by industrial upgrading reflect the supply-demand contradiction between talent and employment. Made in China urgently needs a human resource development pattern that is compatible with industrial development, and the integration of industry and education will become the inevitable path for the development of vocational education.   The data shows,    China has the largest number of students enrolled in universities globally, nearly twice as many as in the United States, and more than ten times that of major developed European countries.    With the rapid development of the macroeconomy, higher education in China has evolved from the last century 80 The elite education phase of the era, having gone through 2002 - 2018 The popularization stage in 2019 The year officially entered the popularization stage. Different from the characteristic of developed countries where applied talent cultivation accounts for a high proportion, China has a disproportionately high proportion of research-oriented talent cultivation represented by postgraduate and undergraduate students.   In the past decade, the number of graduates from general higher education institutions in our country has doubled, and it is expected 2023 The number of college graduates reached a high in 1,158 Tens of thousands, and the continuously rising number of college graduates has also created sustained pressure on the employment side.    Liu Wenjun stated that the imbalance in talent cultivation structure has made the employment problem of college graduates under the background of higher education popularization particularly prominent. It is urgent to promote the adjustment of higher education talent cultivation structure and vocational education reform.   From the perspective of policy trends, vocational education is entering a new era of policy 'trendsetter' opportunities. As the country's emphasis on vocational education continues to rise, favorable policies have also come one after another. Especially since the 19th National Congress of the Communist Party of China, the Central Committee and the State Council have issued consecutive documents to deploy vocational education reform work at a high level. 2022 year 5 month 1 The new Vocational Education Law, which came into effect on this day, clarifies the modern vocational education system, which is defined as 'equal emphasis on vocational school education and vocational training, integration of vocational education with general education, effective connection between different levels of vocational education, and serving the lifelong learning of all citizens.'   "   The imbalance in the vocational-education-to-primary-secondary education ratio at the secondary education stage reflects, from another perspective, people's stereotypical views of vocational education and the deviation of traditional concepts in educational issues, guiding the vocational-education-to-primary-secondary education ratio at the secondary education stage to return to a more balanced state. ' Generally comparable ' It is an important step in the integration of vocational education and general education."     Liu Wenjun further added, 2010 Around the Spring Festival, the scale of vocational and general education students on campus was roughly the same, with a vocational-to-general education ratio approaching 1:1 However, in the past decade, the number of students enrolled in secondary vocational education has been on a continuous decline, and the gap between vocational and general education students has been widening over time. Especially 2021 The number of secondary vocational schools in the year decreased sharply 2,571 resulting in 2021 The annual general practitioner ratio decreased to 3:7 . In recent years, the state has guided and regulated vocational education to return to its normal proportion at the policy level on multiple occasions 1:1 . 2020 After the Spring Festival, in "On Doing a Good Job 2021 The 'Notice on the Enrollment Work of Secondary Vocational Schools in the Year' once again emphasizes 'adhering to a general proportionality between vocational and general education', and requires broadening the sources of students for secondary vocational schools.   It is expected that in the future, with various supportive national policies and investments, the scale of secondary vocational education is likely to see a significant increase. According to a Frost & Sullivan study, the scale of the vocational education market in China is from 2018 year 6,045 Yuan, increasing to 2022 year 8,719 100 million yuan, with an average annual compound growth rate 9.6% The growth rate is significantly positive; it is expected that the vocational education market in China will be 2024 The annual scale exceeded one trillion, and in 2027 Annual achievement 12,681 yuan, since 2022 Year-end 2027 The average annual compound growth rate over the five years of 7.8% . In addition, compared with academic vocational education, non-academic vocational education (vocational training) accounts for approximately 30% However, its growth is more pronounced. 2020 The market scale of annual vocational training has exceeded 2,000 yuan, 2018 Year-end 2022 The average annual compound growth rate over the five years of the year reached double digits.   Looking at the capital market as a whole, since 2017 Since the beginning of the year, investment and financing in the education industry have gradually cooled down and continued to break through their lowest points.   2022 The year is a transformative one for the education industry, with the number of financing events in the sector decreasing to 121 Beginning, insufficient 2018 One-fifth of the year, compared to its peak 2016 Decreased by [X]% annually 86% The enthusiasm for industry financing has continued to decline, with rationality and prudence becoming the main themes for capital markets in investing and financing in the education sector.     "Vocational education and vocational training have benefited from favorable policies, with active investment and financing in recent years, making them a popular track favored and pursued by capital within the entire education industry."   Liu Wenjun further explained, 2022 In the year, there were a total of 63 For online financing, the amount of a single financing can range from several million RMB to hundreds of millions RMB, and the number of vocational education investment and financing transactions is higher than 2021 Throughout the year, the number of investment and financing events has been steadily increasing.   Liu Wenjun stated that, affected by the overall activity of the capital market, vocational education and vocational training companies that have entered the capital market in the past two years have seen a vastly different scale of fundraising compared to the past few years. Moreover, due to the combined effects of the pandemic and regulatory policies, stock prices in the education sector have fluctuated significantly.    In the future, with the full relaxation of epidemic policies, economic recovery, and the country's high emphasis on vocational education, the vocational education sector will further move towards high-quality development.   2023 Frost & Sullivan's New Investment Conference

why PD-1 Are drugs relatively cheaper in China? According to Frost & Sullivan's forecast, by 2030 In [year], China globally PD-1 The market share of the product will gradually climb. Why? The reason why pembrolizumab has not been included in medical insurance and is very expensive, yet it is still selling well in China, is what?   Frost & Sullivan Frost & Sullivan Wang Yu, Project Manager of Life Sciences Business Unit in Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), replied   Bloomberg   In an interview,    China's PD-1/L1 The reasons why drug prices are much lower than those in the United States include: 1 ) Per capita consumption capacity is itself lower than that of the United States; 2 The patient population in China is much larger than that in the United States, and pharmaceutical companies also choose slightly lower pricing when considering pricing to penetrate a larger proportion of patients; 3 ) When drugs enter China's medical insurance system, they need to be reduced in price through medical insurance negotiations.   Wang Yu pointed out that at the global level, especially in developed regions, PD-1/L1 The penetration has reached a relatively high level, and the remaining permeable space is limited; in China, there are still significant untapped areas among cancer patients. PD-1/L1 The space for drug penetration, so in China PD-1/L1 The market's share globally will gradually climb. In addition, the main reason why pembrolizumab is selling very well in China is its good brand reputation. In the subconscious of the Chinese public, 'imported products' are associated with 'better quality.' Moreover, for Chinese people, it is an unshirkable responsibility to spend money on treating their family members' illnesses, and families are often willing to spend more money on purchasing imported medicines.   * Click "Read the Original Article" at the end of this text to read the full report. Bloomberg Q   Why are PD-1 drugs much cheaper in China than in the US, and why are there more options in China?   a) There are many reasons why PD-1/L1 drugs are cheaper in China. Generally speaking, drugs are inherently cheaper in China due to lower affordability of the general public. The annual per capita disposable income in China is just over 50,000 USD compared to over 500,000 USD in the US. It is a tenfold difference.   b) Moreover, the patient pool in China is absolutely huge for all these PD-1 companies. Penetrating a higher percentage of patients is financially more attractive than penetrating a lower percentage of patients but charging products cheaper.   c) Finally, over 95% of Chinese citizens are covered by the national basic medical insurance. The basic insurance reimburses on average 70% of the expenses for drugs in Class B category, which four Chinese PD-1 drugs are in. Meanwhile, the national insurance fund is under heavy burden and controlling drug prices is a must. Therefore, PD-1 drugs that entered the national reimbursement drug list all had surprisingly large price drops during their negotiations with the insurance committee.   d) Regarding your second question, there is no clear answer to that. Corporations determine their product pipelines based on their own strategic reasons. Keytruda has been a promising product since its clinical trials and has been a hot-selling product since its commercialization in 2014. My guess is that all these Chinese corporations saw this ten years ago and considered PD-1 a great opportunity. Q   Frost & Sullivan estimates that China's market share in the global PD-1 market will rise over the years towards 2030. Why is this the case?     a) Regarding the global market, one thing worth mentioning is that the PD-1 markets in developed regions account for the majority of the global PD-1 market share. It is known that Keytruda and Opdivo's key patents will expire in 2028, and a large number of generic drugs may flood in with much lower prices. At the same time, the penetration of PD-1 drugs in developed regions is already relatively high, and there is less room for further penetration compared to China around 2028. With lower prices and relatively stable sales volumes, the market size in terms of revenue is forecasted to start declining around 2028.   b) For China, although there are many players in this market, there is still room for further penetration. The price is already low and can be expected to remain stable for many years. Therefore, the market size in terms of revenue is forecasted to continue to rise, leading to a growth in China's share in the long term.   c) In summary, the China market share is growing because the Chinese PD-1 market has a larger room for further penetration compared to markets in developed countries. Q   Keytruda retains about a fifth of the PD-1 market share in China today according to PDB's sample hospital data, despite no insurance coverage and relatively high prices in the country, how could they achieve that?   a) Brand name: Both MSD's brand name and Keytruda are convenient for penetration into hospitals. 'Imported products' are often associated with 'better quality' in the public consciousness.   b) Willingness to pay: This is more of my personal view. In terms of culture, the bond within a family is very strong in China. A family can put in everything or even borrow a loan for a sick family member. To be more specific, even though disposable income is low in China, families in China are often willing to spend a relatively high percentage of their disposable income to pay a premium price for drugs with a better brand name. * This interview was published in Bloomberg   Reporter: For Hong Jinsan    Original title:    China's Drug Price Negotiations Offer a Glimpse into the Future for Companies in the US    >>    . 2023 Frost & Sullivan's New Investment Conference PHDI 2023

Recently, after its initial public offering, Atos announced the signing of an investment agreement with the Hohhot government, finalizing a significant investment project. The initial phase of the investment has reached 180 Yuan. For many years, Atos has been a leading enterprise among global photovoltaic module manufacturers, and its dynamics have, to some extent, reflected the development direction of the photovoltaic industry.   When there is a trend towards multi-crystalline to monocrystalline conversion in the industry, what factors may delay the transformation of manufacturers' production capacity? From the current situation, will there be overcapacity in the photovoltaic industry? In the future of the photovoltaic industry, will the power of discourse increasingly concentrate among photovoltaic module manufacturers?    Frost & Sullivan Frost & Sullivan Lu Jing, Partner and Managing Director of Frost & Sullivan's Greater China Region, was interviewed by Economic Observer Network to discuss the development of the photovoltaic industry.   * Click "Read the Original Article" at the end of this text to read the full report. Economic Observer Network Q The photovoltaic industry indeed goes through a process of transitioning from polycrystalline to monocrystalline. Based on your observation, when there is a trend towards polycrystalline to monocrystalline conversion in the industry, what factors may delay the capacity transformation of manufacturers?   The photoelectric conversion efficiency of single crystals is about 15% higher than that of polycrystals. 1%-2% Although many companies in the industry have continuously introduced emerging technologies such as diamond wire cutting to reduce the production cost of single crystals, the cost of single crystals remains high, hindering an increase in their market share. With further development of technology leading to cost reductions, 2017 Since the beginning of the year, leading photovoltaic module manufacturers in the industry have been deploying monocrystalline production to improve energy use efficiency. From an engineering application perspective, under the industry trend of shifting from polycrystalline to monocrystalline, market actual demand, technical barriers, and their own strategic planning will all affect manufacturers' capacity transformation between polycrystalline and monocrystalline. Q Can you introduce the specific process of the technological route transformation in the photovoltaic industry? The timing and reasons for the transition from polycrystalline to monocrystalline cells? N Type battery swap P The timing, reasons, etc., of the battery failure. The photovoltaic industry has gone through multiple technological development processes during its development. In the early stages of the photovoltaic industry, due to lower costs, polycrystalline silicon dominated the market, but it had characteristics such as low conversion rates and poor crystal quality. With the significant cost reduction brought about by breakthroughs in monocrystalline silicon production technology, monocrystalline silicon has gradually shown its advantages, possessing higher conversion efficiency, better low-light response, lower temperature coefficients, and better long-term reliability. Therefore 2019 The market share of single-crystalline silicon products has exceeded that of polysilicon, becoming the mainstream silicon wafer material in the industry. Affected by factors such as manufacturing process and cost, currently P Type battery packs remain the mainstream choice in the market. With advantages such as high efficiency, high power, and low attenuation, N Type battery packs have begun to become the best choice for large-scale projects. Under the same installation area, N Type battery packs can be installed approximately 2.5%-3% The system capacity is thus reduced, saving component quantity, array, and land area, while also lowering installation time and operational costs. In the future, the photovoltaic industry will return to the track of efficiency improvement, focusing on enhancing efficiency, power, and single-watt generation to offset rising material, transportation, and land costs and improve project economics. N Module batteries are set to become a new growth point in the photovoltaic industry, with their market share expected to continue expanding. Q Some believe that the current period is a window for expansion in the photovoltaic industry, while others worry about overcapacity among Chinese photovoltaic companies. What do you think? From the current situation, will there be overcapacity?   The photovoltaic industry is still in a period of capacity expansion, with overcapacity only existing in relatively backward production lines, while advanced capacity continues to be in short supply. Currently, the world is undergoing a critical energy transformation period. The intensification of the Russia-Ukraine war and complex international relations have led to a continuous rise in traditional energy prices. As a result, the importance of photovoltaics in the global market, especially in Europe, has further increased, and high-quality photovoltaic products will gain more market favor. Different from the previous overcapacity in the photovoltaic industry, China's photovoltaic industry now accounts for more than 80% At the same time, its industrial scale and technological level are leading other countries, and it is leading the development of the global photovoltaic industry. In addition, Chinese photovoltaic enterprises are actively deploying vertical integration into the industrial chain, aiming to alleviate cost pressures and ensure the stability of production expansion costs and supply costs. Given the rapid growth in overseas photovoltaic demand, the pivotal position of China's photovoltaic industry chain globally, and the development trend towards vertical integration among Chinese photovoltaic enterprises, future production capacity will develop towards high-end photovoltaic industrial chains. Backward and excess capacity will be rapidly phased out, and the industry will tend towards concentration and scale. Q 2021 Since the second half of the year, the price of silicon-based materials for photovoltaics has been high for a considerable period of time, causing great distress to downstream manufacturers. This year, the prices of silicon-based materials have gradually declined. Some believe that the normal state of the industry should be for photovoltaic module manufacturers to become the dominant players in the supply chain, rather than upstream raw material companies. What is your opinion on this view? Will the future of the photovoltaic industry increasingly concentrate power in the hands of photovoltaic module manufacturers? Why? Due to the significant price fluctuations in photovoltaic raw materials in recent years, the integration of the photovoltaic industry chain has become an important phenomenon and one of the main trends in China's photovoltaic industry today. Focusing on various aspects such as polysilicon materials, large-size silicon wafers, and photovoltaic solar cells, many photovoltaic module manufacturers have begun to integrate upstream silicon-based materials and silicon wafer production.   By integrating all aspects of the photovoltaic manufacturing industry chain, industrial integration can effectively reduce enterprise production costs, withstand supply chain price fluctuations, control production scheduling and supply, and achieve collaborative operations.    With the continuous advancement of industrial integration, major photovoltaic module manufacturers are able to better control raw material supply and quality, improve resource utilization efficiency, and promote the continuous enhancement of their position within the industrial chain. * This interview was published in Economic Observer Network   Reporter: Li Huaqing    Original title:    "Chaser" Atlas    >>    . 2023 Frost & Sullivan's New Investment Conference

Nucleic acid drugs are widely used in the treatment of genetic diseases, tumors, viral infections, and other diseases, and are expected to become the third major class of drugs following small molecule drugs and antibody drugs. Frost & Sullivan Frost & Sullivan The Life Sciences division of Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan') has long been focusing on the field of nucleic acid drugs. Mao Hua, Partner and Managing Director of Frost & Sullivan Greater China, authored 'The Current Development Status and Prospects of the Nucleic Acid Drug Industry', which was published in 'Zhangjiang Science & Technology Review'. Zhangjiang Technology Review The development of nucleic acid drugs can be traced back to 20 century 50 Over the past few decades, the entire field has weathered storms and faced arduous development steps. 2006 The 2018 Nobel Prize in Physiology or Medicine went to small interfering RNAs small interfering RNA molecule , siRNA ), 2018 The world's first siRNA The drug has been approved for marketing. 2020 The first messenger at the end of the year RNA （ Messenger RNA , mRNA The approval and launch of the vaccine have provided the most important weapon for COVID-19 prevention and control over the past two years, allowing the world to see the tremendous potential of nucleic acid drugs.   Nucleic acid drugs are a type of therapy that regulates gene expression after transcription and before protein translation, acting upstream of protein synthesis. They can be mainly divided into small nucleic acid drugs and mRNA There are two main categories. Compared to traditional small molecule drugs and antibody drugs, nucleic acid drugs have advantages such as simple design, short development cycle, strong targeting specificity, a wide range of therapeutic fields, and long-lasting effects. Currently, they are widely used in the treatment of genetic diseases, tumors, viral infections, and other diseases, and are expected to become the third major class of drugs after small molecule drugs and antibody drugs. 01 Big-shot Nucleic Acid Drug Products The listing has set off a wave of R&D " Technological progress brings 2016 Post-New Year surge in nucleic acid drug approvals In recent years, with the advancement of related research and technology, nucleic acid drugs have seen rapid development, and the number of nucleic acid drugs launched globally has been increasing year by year, especially 2020 In [year], the approved quantity reached 5 amount. As of now, there has been 22 A nucleic acid drug has been approved for marketing (see Table 1 ), including 16 small nucleic acid drugs, including 10 Antisense oligonucleotide antisense oligonucleotide , ASO medications, 5 model siRNA Medications and 1 A nucleic acid aptamer, and 6 model mRNA Vaccines. Genetic diseases are currently the most approved indication category, among the marketed nucleic acid drugs 12 A program targeting genetic diseases, 6 The model is targeted at infectious diseases, 2 For ophthalmic diseases, 1 Atrial fibrillation, cardiovascular disease 1 A drug for metabolic diseases. Global marketed nucleic acid drugs " Global clinical research and development of small nucleic acid drugs are in full swing, and China is expected to witness rapid development. According to Frost & Sullivan analysis, there are nearly 195 one, of which is approximately 11% Phase III clinical trials have been initiated, with most focusing on Phase I and Phase II studies. In terms of drug types, ASO and siRNA It is the small nucleic acid drug with the largest number of clinical research and development projects currently. In terms of indication distribution, tumors and genetic diseases account for the largest proportion in the clinical pipeline. Most of these genetic diseases are rare conditions, such as hereditary angioedema, Huntington's disease, congenital hyperparathyroidism, etc. At present, there are 20 The research and development of small nucleic acid drugs has entered the clinical research phase, but most of these drugs are from foreign companies. Although the domestic small nucleic acid drug industry is still in its early stages of development, due to the large base of the patient population and significant market development potential, in the future, as the R&D capabilities of domestic small nucleic acid drug development enterprises improve, it is expected to gradually enter a stage of differentiated and breakthrough innovation, and the market for small nucleic acid drugs in China is expected to experience rapid development. Clinical research pipeline of small nucleic acid drugs in China " global mRNA Drug clinical research and development are currently mainly in the vaccine field, with significant room for indication expansion in China. Currently under development mRNA Drugs can be mainly divided into three categories based on their use and type: preventive vaccines, therapeutic vaccines, and therapeutic drugs. According to Frost & Sullivan's analysis, globally mRNA Total number of drugs entering clinical pipelines 132 One, R&D is mainly concentrated in the vaccine field. In addition mRNA In addition to the emergency launch of COVID-19 vaccines, most others are still in the early stages. mRNA Its application scope is extremely wide, and currently mRNA Mainly applied to 3 Major directions: immunotherapy, protein replacement therapy, and regenerative medicine therapies. Among them, tumor immunotherapy and the application of infectious vaccines in immunotherapy are the most numerous and mature areas, with ongoing research. mRNA The pipeline mainly targets infectious diseases, tumor diseases, and rare genetic disorders.   After the outbreak of the COVID-19 pandemic, listed pharmaceutical companies in China have gone through a mRNA The company is in the midst of a boom in vaccine co-development. In terms of COVID-19 vaccines, both Phase II and Phase III clinical trials are currently underway domestically; most other indication areas are in the early clinical stages. Currently, domestically mRNA The research areas are distributed across fields such as COVID-19 vaccines and oncology drugs. However, compared to the global level, domestically mRNA There is significant room for expanding future indications of drugs. china mRNA Drug clinical research pipeline 02 The market scale of nucleic acid drugs is growing rapidly. There is considerable room for future growth " The market scale of small nucleic acid drugs has been 2016 It has been climbing continuously since [start year], and will continue to grow in the future 2016 Two per year ASO The launch of the drug has broken the silence in the nucleic acid drug market that had lasted for many years. The global market size of small nucleic acid drugs has grown from 2016 year 0.1 USD billion growth to 2021 year 32.5 billions, with an annual compound growth rate as high as 217.8% In the future, the continuous launch of clinical-stage small nucleic acid drugs, especially those for indications targeting larger patient populations, such as potential curative drugs for hepatitis B, will further drive rapid market development. Global market scale of small nucleic acid drugs " Driven by the COVID-19 pandemic mRNA Drug sales, with development still promising after the pandemic 2020 The year is mRNA A breakthrough year, led by Pfizer Pfizer ) and BioNTech Moderna Moderna ) Two products developed by the company respectively mRNA The COVID-19 vaccine has been granted emergency use authorization. 2021 years, two mRNA Global sales revenue from COVID-19 vaccines reached 587 Billion dollars, far exceeding the sales of other COVID-19 vaccines. Global on the market COVID-19 pandemic Vaccine revenue 2021 (year)   Expected future 15 In [year], preventive vaccines will mainly account for mRNA Product market. In the short term, the preventive vaccine market mainly stems from COVID-19 products; in the medium to long term, leveraging mRNA Vaccines have advantages in target number, efficacy, safety, and production technology. The preventive vaccine market will expand to include the prevention of more infectious diseases, such as influenza virus vaccines, influenza respiratory syncytial virus vaccines, malaria vaccines, and other areas. In addition to preventive vaccines, immunotherapy for tumor treatment is also a current mRNA Research hotspots in technology. In the field of tumor treatment, there are a large number of patients and unmet clinical needs, which will continue to drive the market scale of therapeutic vaccines for tumors upwards in the future.   03 The R&D challenges of nucleic acid drugs remain, Breakthroughs in key technologies drive development " Breakthroughs in core technologies drive the development of small nucleic acid drugs Small nucleic acid drugs are unstable, have large molecular structures, carry a negative charge, are easily degraded by nucleases, and are difficult to penetrate cell membranes. 2009 till 2013 The year hit a low due to security issues and delivery system problems. Different issues in the R&D process of small nucleic acid drugs require corresponding technologies to solve. According to the sequence of the small nucleic acid drug R&D process, core technologies are divided into RNA Design, chemical modification, delivery, synthesis, and formulation technologies. The most critical core technology is the delivery technology of small nucleic acid drugs. With the technological breakthroughs in key delivery systems, the small nucleic acid drug industry has witnessed vigorous development. " Promoted by Key Technology Innovation mRNA Drug development mRNA The drug targets are rich, not limited by the medicineability of target proteins, intracellular / external constraints. mRNA The sequence design is simple, utilizing the patient's own cells to produce molecules, bypassing the challenges of chemical synthesis, and the molecules produced by self-induction have stronger pharmacological effects. mRNA The production platform has strong scalability and replicability, making it suitable for large-scale production. However, mRNA The pain points that technology still needs to solve include its immunogenicity, the efficiency of protein expression within the body, and ultimately large-scale production. Therefore, innovation in key R&D technologies such as sequence design, lipid nanoparticles ( lipid nanoparticle , LNP The synthesis design of delivery systems and the optimization of production processes can promote mRNA The development of drugs. " Innovation in key technologies such as delivery systems drives industry development Delivery system technology is key to ensuring the effectiveness and safety of nucleic acid drugs, and its role in protecting RNA Structuring, enhancing targeting capabilities, reducing dosages, and minimizing adverse reactions all play important roles. In pipelines entering clinical stages, N- Acetylgalactosamine GalNAc The conjugated delivery system, with its excellent targeting performance for the liver, occupies a dominant position in small nucleic acid drugs. LNP then mRNA The most common delivery system in drugs. Lipid nanoparticles are virtually non-toxic to most cells, but they can still cause adverse reactions in the liver under certain circumstances. Future delivery systems need further optimization. Innovative breakthroughs in delivery technology help promote the development of nucleic acid drug administration routes. Continuous research and development of nucleic acid drug delivery platforms, including conjugated delivery systems, siRNA/ The different combinations of chemical drug conjugates, peptide ligands for tumor targeting, highly optimized combinations of nanoparticle carrier systems, and the use of respiratory delivery for disease treatment will drive the common development of delivery technologies and various routes of administration, including subcutaneous injection, intravenous injection, nebulization inhalation, intratumoral injection, etc.   04 The nucleic acid drug industry has a promising future In the historical process of combating diseases, traditional drugs have used proteins as drug targets. However, many 'pathogenic proteins' in the human body are unattainable therapeutic targets, and many diseases lack effective treatment methods. To solve this problem, people have developed nucleic acid drugs along the central dogma, utilizing the translation or regulatory functions of nucleic acid molecules to address the unmet clinical needs brought about by 'unattainable' targets. In recent years, several blockbuster nucleic acid drugs have been introduced, demonstrating unprecedented application value in the treatment of metabolic diseases and the prevention of infectious diseases. The COVID-19 pandemic has attracted widespread public attention to nucleic acid drugs and led to rapid development, gradually becoming a focus of biopharmaceutical investment and a hot topic in pharmaceutical company research and development. In recent years, small nucleic acid (SNNA) drugs have become a focus of research in the biomedical field due to their strong specificity, simple design, short development cycle, rich targets, and solid translational foundation. Several SNNA drugs have achieved commercial development, and the market for SNNA drugs still has good prospects in the future. It is worth noting that with the unique mechanism of action of SNNA, they have greater development potential and clinical value in many indications. Clinical trials for major diseases such as cancer, diabetes, and hepatitis B are not lacking in the pipeline, which will greatly compensate for the current weakness of commercial blockbuster drugs and support the future development of the SNNA drug market.   Currently, mRNA Technology stands out in the application of preventive vaccines, with rapid development speed and significant advantages in responding to sudden epidemiological crises. At the same time, the production capacity ramp-up is extremely fast, with batch output reaching hundreds of millions of doses. Compared to traditional vaccines, mRNA Vaccines possess excellent immune activation capabilities. By endogenously expressing antigen proteins, they can induce more extensive and effective cellular and humoral immune responses, resulting in higher protection rates. Hundreds of millions of doses mRNA The vaccination against COVID-19 has proven mRNA The security and effectiveness of technology. mRNA The technological advantage is evident, making it an important choice for the development of new vaccines. It is also expected to expand into broader therapeutic fields such as tumor treatment and regenerative medicine. In recent years, with mRNA The continuous maturation of in vitro synthesis and delivery technologies, mRNA The stability and translation efficiency of drugs have been significantly improved. mRNA Technology has developed rapidly. Meanwhile, driven by the emergence of a large number of biotech companies and the capital market investment boom, the future mRNA The pharmaceutical market will see rapid development. * This article is published in 'Zhangjiang Science and Technology Review'.   Author: Mao Hua    Original title:    Current Development Status and Prospect of the Nucleic Acid Drug Industry    >>    . 2023 Frost & Sullivan's New Investment Conference     PHDI 2023