New Shanghai Business University Health Private Board In recent years, 'going global' has become a keyword in China's innovative drug industry, with more and more Chinese innovative pharmaceutical companies embarking on a new journey of internationalization. In the context of the rapidly changing pharmaceutical industry environment, how to layout an overseas strategy has become a common topic for innovative pharmaceutical companies. 4 month 12 Today, in response to Frost & Sullivan Frost & Sullivan At the invitation of Dr. Wang Xin, Global Partner and President of Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), the seventh session of the New Shanghai Business Leaders' Private Equity Directors' Meeting was successfully held at the Frost & Sullivan China headquarters on "Breaking the deadlock “involutionary competition”, racing “going global”" In the theme of "Frost & Sullivan's Decision-Makers on Innovative Drugs Going Global", focusing on new directions in cooperation for innovative drugs going global, six heavyweight guests from biomedical enterprises including Aimephi, Shanghai Cell Therapy Group, Fosun Kite, Heptaresis Biopharma, Heyuan Bio and Lixin Pharmaceutical attended the meeting. The meeting also invited industry experts from nine institutions including the Shanghai Biomedical Science and Technology Development Center, CITIC Securities, Ernst & Young, Jindu Law Firm, Bilibili Venture Capital, PowerSquare Fund, CICC Capital, Zhongyong Financial Holdings and Fenglin Group to share their forward-looking insights on the commercialization of innovative drugs, demonstrating from multiple dimensions that Frost & Sullivan's Healthcare Business Unit has professional capabilities and rich experience in the field of life sciences. Global Partner and President, Greater China at Frost & Sullivan Dr. Wang Xin At the meeting, Dr. Wang Xin, Global Partner and President of Frost & Sullivan Greater China, expressed gratitude for the organization of the New Shanghai Businessmen's Federation. He warmly welcomed the entrepreneurs and guests present and focused on the theme of Frost & Sullivan's empowerment of biopharmaceutical enterprise investment and financing. He provided a detailed introduction to Frost & Sullivan's consulting services in Greater China, the core strengths of Frost & Sullivan's investment and financing services in the healthcare industry, and the 'New Investment' concept.   Dr. Wang Xin stated that capital investment is an indispensable and important factor in driving the growth of biopharmaceutical companies, and it is crucial for promoting research and development and accelerating commercial success in the life sciences industry.   This year marks the 50th anniversary of Frost & Sullivan's global establishment. 62 The anniversary is also the first time we have entered the Chinese market 25 On its anniversary, Frost & Sullivan has always been committed to helping businesses grow. It deeply engages in the global capital markets and corporate consulting services, providing businesses with comprehensive investment and financing as well as various other professional consulting services. As a global growth consulting company,   In the future, Frost & Sullivan hopes to join hands with LeadLeo, cloud technology, Yixin, and YUAN CAPITAL, along with many professional institutions, to create an ecological service system covering the entire lifecycle and industrial chain of enterprises. This system aims to help biopharmaceutical companies achieve growth and empower the transformation and upgrading of the biopharmaceutical industry. Dr. Wang Xin looks forward to sharing through this private board meeting with more leading biopharmaceutical companies, high-quality capital, and outstanding partners. We will delve into new trends in biopharmaceutical investment and financing, explore cutting-edge investment opportunities, jointly explore the successful path for biopharmaceutical companies in the capital market, and contribute to the development of innovative drugs in China! Partner and Managing Director, Greater China, Frost & Sullivan fattening Frost & Sullivan's Partner and Managing Director of Healthcare Business in Greater China, Mao Hua, presented 'China Biopharmaceuticals License-out of the Mainland Development and Strategy Research' theme sharing. Mao Hua briefly introduced the current situation and development trends of the innovative drug industry, and discussed pharmaceutical companies License-out of the Mainland The opportunities and challenges of the model are analyzed. He pointed out that in recent years, factors such as enhanced R&D capabilities for innovative drugs, great potential in overseas markets, gradual integration at home and abroad, and domestic pressure to reduce prices for innovative drugs have driven Chinese pharmaceutical companies to go global, actively explore international market territories, and biopharmaceutical enterprises continue to License-out of the Mainland Transactions bring domestic technology abroad, and by collaborating with multinational enterprises, we can better participate in global competition.   License-out of the Mainland The model holds strategic significance for enterprises as it boosts valuation (endorsement), can serve as the main business model, and a source of R&D funds. However, on the other hand, License-out of the Mainland The model also faces challenges such as low enterprise valuation, limited cooperation rights and interests, restricted transaction implementation, and high operational difficulties. Partner and Managing Director of Frost & Sullivan Greater China Region Yang Xiaocheng Chairman and President of Shanghai Cell Therapy Group Qian Qijun Co-Head of Investment Banking Healthcare Group and Managing Director of CITIC Securities   Liu Xiaolan Chairman of Aimebio Professor Fan Guohuang General Manager of Harmony Biosciences China Wu Minghua General Manager of Fenglin Group Wang Bo Vice President of Strategy and Business Development, Lixin Pharmaceutical Wang Yufeng Executive Director of PowerSquare Fund Hu Hongdan EY partner Li Dongxu CICC Capital Dr. Zhao Xinhao Partner at King & Dun Law Firm Xu Hui Fosun Kite CEO Yellow Sea Director of Shanghai Biomedical Science and Technology Development Center, Deputy Secretary of the Party Committee Li Jizong Director of Shanghai Cell Therapy Group Susuoliang Secretary of the Board of Directors and Deputy Director of the President's Office of Shanghai Cell Therapy Group Jiang Xiaofen General Manager of Zhongyong Jinkong Liu Yu Binlin Venture Capital Management Partner Sun Xiaolu Binlin Star Venture Capital Operation Director Wang Qian General Manager of Operations, New Shanghai Business Federation Wang Jian   Wu Minghua, General Manager of Harmony Pharma China, and Wang Yufeng, Vice President of Strategy and Business Development at Lixin Pharmaceutical, shared their experiences with overseas licensing in turn. They pointed out that with continuous policy reinforcement, the iteration and upgrading of new pharmaceutical R&D technologies, and the evolution of the global commercialization landscape, internationalization is an inevitable path for local leading pharmaceutical companies. Currently, it is an excellent time to promote innovative drugs overseas. Domestic innovative drugs going global require companies to be familiar with the rules and requirements for overseas listing. A clear global R&D strategy and real-time updates on the R&D progress of similar drugs can help companies accelerate their overseas expansion and build global influence. This private board meeting was chaired by Ms. Li Xiaoyan, Deputy Secretary-General of the New Shanghai Business Federation. The atmosphere at the scene was lively, with all parties expressing their opinions freely. The participating guests offered rich forward-looking insights on how enterprises can layout and plan to achieve high-value overseas transactions, analyzed the biggest challenges and difficulties for Chinese pharmaceutical companies going global, and fully discussed and exchanged views on the highlights and trends of future Chinese pharmaceutical companies' overseas expansion. The meeting was chaired by Li Xiaoyan, Deputy Secretary-General of the New Shanghai Business Federation.

Shenzha County is under the jurisdiction of Nagqu City, Tibet Autonomous Region Lhasa, the capital of the Tibet Autonomous Region 520 kilometer Qinghai Tuerqin City 505 kilometer Located in the plateau subarctic semi-arid monsoon climate zone The climate here is cold and dry   Annual average temperature is only 0.4 °C Although remote But the unique geographical conditions Gave birth to countless splendid natural sceneries   In recent years   Shenzha County is leveraging its local resource endowments and unique business formats   Effectively achieved the transformation of industrial poverty alleviation into a 'hematopoietic' approach   2019 year    Shenzha County has officially been removed from the list of poverty-stricken counties   But    Rural revitalization and poverty alleviation consolidation    The pace has never stopped   here    The flame of thirst for knowledge continues to burn   here    The care and warmth of nurturing talents and supporting intelligence converge now Distance from the county seat 68 kilometers, altitude 4,830 Mi Ci A school that nurtures hope and dreams   :   - Kaxiang Primary School -   The school was established in 1992 year existing 15 Famous faculty and staff Current students 100 name     4 month 8 day early morning A batch of heartwarming supplies arrived at Kaxiang Primary School Charging jacket, snow boots, double bed Laptop computers, adjustable desks and chairs .... Hundreds of learning and daily necessities arrived Adding a touch of warmth to this spring day   April 8, 2023 Recently, Frost & Sullivan Frost & Sullivan Frost & Sullivan, abbreviated as 'Frost & Sullivan', in conjunction with LeadLeo, donated to Kaxiang Primary School in Shenza County 25 laptops, 200 A bomber jacket, 200 Double snow boots, 25 Set of lifting tables and chairs, as well as 25 Set of profiles, double bed and other study and living necessities   ,    We aim to empower the learning and growth of teenagers in remote areas with knowledge, call on partners to jointly build a talent cultivation and intelligence support platform, and send warmth and blessings to children in plateau and cold regions. △ From left: Wang Xiaojing, Partner and Managing Director of Frost & Sullivan Greater China; Dr. Wang Xin, Global Partner and President of Frost & Sullivan Greater China, Founder and Chairman of LeadLeo; Co-founder of LeadLeo and CEO Yang Xiaocheng Growth creates value, and education feeds back into society As a globally renowned growth consulting firm, in the past 62 Throughout its development over the years, Frost & Sullivan has always been focused on its commitment to growth and its contribution to society. As a leading original corporate research content platform and new type of enterprise service provider in China, LeadLeo has been actively 'reciprocatious' in recent years, fulfilling its social responsibilities and promoting the development of LeadLeo's education business. Frost & Sullivan and LeadLeo have always regarded engaging in public welfare and education as an important part of their social responsibilities. Dr. Wang Xin, Global Partner at Frost & Sullivan and President of Greater China, Founder and Chairman of LeadLeo, said:   Frost & Sullivan's corporate mission is to make the world a better place through growth; LeadLeo empowers national pre-service education and innovation through LeadLeo Education, delivering high-quality research talents to society.   Enterprise growth and social responsibility complement each other and are the foundation of our existence. This targeted assistance to schools in Tibetan areas is an important part of the 'Intellectual Aid to Tibet, Talent Cultivation and Intelligence Support' initiative launched by Frost & Sullivan and LeadLeo. We hope that in the future, it can help more students from impoverished areas, enable batches of outstanding students to escape poverty, realize their ideals, empower social development, create a better future, and jointly move towards a prosperous tomorrow!   What does 'Intellectual Aid to Tibet, Cultivating Talents and Supporting Intelligence' mean? Dr. Wang Xin interpreted it as follows: 'Frost & Sullivan's Greater China region and LeadLeo's entire staff continue to pay attention to the learning and growth of teenagers in remote areas, represented by some regions in Tibet.      We will make full use of our own resources to create a public welfare initiative that integrates remote classrooms, scholarship donations, short-term teaching support, and other diversified methods. The aim is to cultivate and shape future knowledge talents and industry elites, so that these children can become more competitive and have greater growth potential when they grow up.      .     " Dr. Wang Xin pointed out that Frost & Sullivan and LeadLeo, as socially responsible enterprises, actively respond to the national strategies of rural revitalization and poverty alleviation. They invest their knowledge, skills, and resources in the fields and regions where China needs them most urgently, making positive contributions to local development.   "We also hope to call on more social forces and insightful individuals around us to join hands through practical actions to pay attention to the growth and education of teenagers in remote areas. Together, we can build a platform to nurture talent and support intelligence, empower teenagers' learning and development with knowledge, and cultivate future industry talents for society."

As of 3 At the end of the month, there were more than 3,000 Home to sleep economy-related enterprises, about 70% of which were established in the past 5 Within the year. In addition, according to data statistics from LeadLeo Research Institute, 2021 In 4,175.4 The sleep economy market size of hundreds of billions is driven by home hardware, pharmaceuticals, and sleep aids APP The three major product categories are segmented as follows, accounting for 70% , 20% and 10% At the same time, the market size is growing at an average annual rate of 9.5% The growth rate expands, expected to be in 2030 Exceeding one trillion yuan annually.     What are the reasons for the rise of the sleep economy?    From a consumption perspective, at present in the sleep economy, 70% Consumption is the driving force behind home goods.    Which specific product category within this major category is popular in the market?    Will the pattern of the sleep economy consumption market change with technological development, etc.?    In order to better seize the opportunity period in the sleep market, how should enterprises proceed?   Frost & Sullivan Frost & Sullivan Zhou Mingzi, Consulting Director of Frost & Sullivan's Greater China region, was interviewed by Securities Daily to discuss the current development status and future trends of the sleep economy. Securities Daily Q   Securities Daily Reporter: In your opinion, what are the reasons for the rise of the sleep economy? From an industry perspective, the rise of the sleep economy is inevitable. As the most important way for residents to rest, sleep is often closely linked to health quality, quality of life, and work quality. It can be said that sleep quality largely determines the mental outlook of residents. In addition, with the continuous acceleration of today's pace of life and work,   Residents' attention to their own health is also continuously increasing.   We see that for the first time, only middle-aged and elderly people are paying attention to health preservation.   More and more young people are also beginning to pay attention to health preservation and are willing to pay for improving their health status. This group not only has a higher willingness to try new things but also stronger purchasing power, which has laid the commercial foundation for the sleep economy.   At the same time, the product service forms of the sleep economy are also constantly innovating. The driving forces behind these innovations mainly include technology empowerment, product empowerment, and service empowerment to meet consumer needs. Q Securities Daily Reporter: From a consumption perspective, at present in the sleep economy, 70% The consumption of this category is contributed by home goods. In this regard, do you have any further data to explain which specific product category within this major category is popular in the market? In terms of the contribution to household goods sales, mattresses and pillows are the largest product category, accounting for more than half. On one hand, after being empowered by technology, such as becoming more dry and breathable, and having more complete functions for spinal support and back support, mattresses can better meet the optimization of the overall sleep environment for consumers. On the other hand, mattresses and pillows are products that consumers come into close contact with during sleep. Often, consumers are more aware of the sleep aid effects of these products, which makes them more inclined to favor such products when making consumption decisions. From the perspective of product trends, whether it's mattresses or pillows, comfort and support of the fabric are points that consumers pay close attention to. Q Securities Daily Reporter: In your opinion, will the pattern of the sleep economy consumption market change with the development of technology, etc.? From an industry perspective, we believe that it will change with the development of technology.   Innovative technologies can 'redefine' products. With the continuous improvement of residents' living standards, personalized needs are further highlighted and to be met.   Taking the mattress as an example, customized mattresses for groups such as children and the elderly can be 'tailored' from the design stage to meet their specific needs. In addition,   Technology can also bring new product and service opportunities, enriching the connotation and commercialization of the sleep economy.   For example, innovations in sleep monitoring technology can be integrated with the Internet of Things (IoT), digital healthcare, and other areas to achieve practical applications for smart living and health. The sleep economy consumer market has connected with China's large-scale healthcare management and service market. From these new perspectives, we believe that new players will continue to join the fray, and new products and services will continue to emerge. Q Securities Daily Reporter: From an investment perspective, how should companies proceed to better seize the opportunity period in the sleep market? From an investment perspective, in order to better seize the opportunity period of the sleep economy market,   Enterprises should 'capitalize on strengths and avoid weaknesses', choosing their best advantage points to enter the market, such as service ecosystems or product design.   . In addition, the richness of the sleep economy's connotations also means that cooperation among enterprises will further deepen.   Selecting suitable target enterprises for strategic co-creation, such as the strong alliance between technology-driven enterprises and traditional product-based companies, can not only accelerate the implementation of innovative products but also achieve market sales and promotion through existing sales channels and touchpoints, thereby achieving a win-win situation for both enterprises.   * This interview was published in Securities Daily, with reporter Tian Peng as the correspondent. Original title:    "The    2023 National Consumer Promotion Month Market Survey: Many Places Create "Characteristic Economies" with Themed Hotspots to Boost Consumption    >>    (Click "Read Full Article" at the end of the text to read the complete report).   Recommended Reading

The glory of China's fine wines is essentially a collective recognition and goal for the upgrade and transformation of domestic wines, as well as the mission and vision of related brands.   During the "golden age" of wine, domestic wines and imported wines advanced by leaps and bounds, giving rise to high-end wine brands such as Lafite, with various regions and brands taking turns to emerge. However, in the past two years, the industry has been confused by the "double decline" and the subsequent cooling-off of the boom, causing the momentum of imported fine wines to subside from its former glory. The wine industry is currently in a period of restructuring, and this stage marks a new era for Chinese fine wines to break through. Large brands centered around culture and high-quality single products will reshape the ultimate value of Chinese fine wines by transcending cycles. 4 month 8 On the day, the New Cycle & New Leap - China's Fine Wine Development Trends Forum, jointly organized by wine industry experts and Xige Guanlan Group in Chengdu, brought together enterprises, capital, distributors, industry experts, and media to discuss how Chinese fine wines can achieve new leaps. Frost & Sullivan Frost & Sullivan Mr. Qin Zhihao, a consulting advisor to Frost & Sullivan in Greater China and referred to below as 'Frost & Sullivan', was invited to attend the conference. He will be joined by Mr. Lin Xiang, Chairman of Wine Business Journal Media and Secretary-General of the Organizing Committee of the China International Liquor Exhibition, and Mr. CEO Zhou Hua, Managing Director and Chief Consumer Industry Analyst of CITIC Securities Co., Ltd., Jiang Ya, Director of CITIC Agricultural Industry Fund, Kong Mengyao, Master of Wine (   Julien Boulard MW Together with Mu Zhanjiang, Chairman of Nanjing Long Qianxi Business Trade Co., Ltd., and Chen Xianni, Global Brand Ambassador and International Affairs Director of Xige Winery, they discussed the development trends of fine Chinese wines.   Frost & Sullivan Greater China Regional Consulting Advisor Qin Zhihao Qin Zhihao pointed out that Europe and America are the main consumer regions for global wine. Countries in these regions have a high penetration rate of wine in society due to their long history of winemaking and consumption. However, their markets are already mature, with limited room for future growth and low rates of expansion. 2021 In China, the per capita wine consumption in 0.74 rise, compared to 44.6 Ascending Portugal, 37.2 There is still a significant gap between rising France and other countries.   With the improvement of living standards and the deepening popularization of wine culture, the Chinese wine consumption market is one of the few markets in the world that still have significant growth potential.   Although the Chinese wine market has experienced an adjustment period in the past period, it has already shown a turning point.   The trend of upgrading the Chinese wine industry has not changed. It has now truly entered a new stage of high-quality development and a period of profound adjustment characterized by survival of the fittest.   Currently, many domestic wine companies are facing severe homogenization competition in the existing market and low-end product markets, which provides good development opportunities for those that can offer high-quality wines. The demand for high-end products plays an important role in driving the wine industry upwards and forward. Qin Zhihao stated that the competition faced by Chinese wine enterprises is international, and products should also be considered from a global perspective, aiming to improve product quality and establish brand value.

The First Vocational Training Summit 3 month 30 On FESCO The first Professional Training Summit, organized by (the organizer), was successfully held in Chaoyang District, Beijing. This conference was guided by the Human Resources and Social Security Department of Chaoyang District, Beijing. As the employment market's demand for talent becomes more specialized and segmented, the vocational training market is embracing new development opportunities. The conference, themed 'New Development, New Opportunities, New Momentum', interpreted policies, exchanged experiences, and signed cooperation agreements. Participants included those from Douyin's mass certification... 360 Group, FESCO Top enterprises in professional training fields such as Quantum's Song, technician colleges, private vocational skill training institutions, and government departments 300 Leading experts from various fields, industry elites, and talented individuals gathered together to discuss and plan for new trends in the development of the vocational training industry and a new future of cooperation.   Frost & Sullivan Frost & Sullivan Liu Wenjun, Executive Director of Frost & Sullivan Greater China, was invited to attend this conference and delivered a speech on 'Investment Development Trends in China's Vocational Education and Training Industry'. Executive Director, Greater China, Frost & Sullivan Liu Wenjun   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 'emphasizing both vocational school education and vocational training, integrating vocational education with general education, ensuring effective connectivity between different levels of vocational education, and serving lifelong learning for all citizens.'   Liu Wenjun stated that the new era background has endowed modern vocational education with a new mission and positioning. The new Vocational Education Law plays an important role in reversing the long-standing social prejudice against vocational education and alleviating educational anxiety caused by the diversion between vocational and general education.   Source: Analysis by Frost & Sullivan Data shows that the scale of China's vocational education market has grown from 2016 year 5,167 Yuan, increasing to 2021 year 7,811 100 million yuan, with an average annual compound growth rate 8.6% The growth rate is significantly increasing;   It is expected that the vocational education market in China will be 2025 The annual scale exceeded one trillion, and in 2026 Annual achievement 10,979 yuan,   2021 Year to 2026 The average annual compound growth rate over the five years of 6.5% Compared with academic vocational education,   Non-degree vocational education (vocational training) accounts for about 30% However, its growth is more pronounced.   2020 The market scale of annual vocational training has exceeded 2,000 yuan, 2016 Year-end 2021 The average annual compound growth rate over the five years of the year reached double digits.   Liu Wenjun pointed out that the rapid development of the vocational training market is driven by favorable policies and social development, among other factors.   On one hand, the state has gradually placed more emphasis on vocational training, recognizing its status through legislation. On the other hand, with the improvement of national living standards, the acceptance of re-employment and lifelong education has also increased. Consequently, spending on training has risen. Moreover, due to the tightening employment situation in recent years in China, the number of college graduates has been increasing year by year, and the unemployment rate has continued to climb under the impact of the epidemic, increasing employment pressure and further releasing the demand for vocational training among the people.   According to a Frost & Sullivan study, the vocational training market in China is characterized by diversification, with vocational and technical training as the main body of vocational education accounting for nearly 70% share.   For the vocational education needs of college students and highly educated individuals, vocational exam training is also an important part that cannot be ignored. Source: Analysis by Frost & Sullivan 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 number of financing events in the education industry decreased further to 121 Since, compared to the peak period 2016 Decreased by [X]% annually 86% .   The enthusiasm for industry financing has continued to decline, and rationality and prudence have become 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 increasing in recent years, making them a popular track favored by capital in 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 to several hundred million RMB, and the number of vocational education investment and financing transactions is higher. 2021 Throughout the year,   The number of investment and financing events has been growing steadily. Source: Analysis by Frost & Sullivan   In terms of investment and financing amounts,   2022 In [year], the total financing amount for the vocational education industry was approximately 23.1 RMB 10 billion, and 2021 Compared with last year, the financing amount has decreased 70% The single financing amount is mainly in the tens of millions, with a considerable portion of early-stage financings being only in the millions.   From the perspective of investment and financing rounds,   Investment and financing events in the vocational education industry are mainly concentrated in the angel round and seed round, focusing on early-stage projects. B Previous financing rounds (Angel round / Seed round, Pre-A till A+ The number of financing events for (cycles) 30 Pens, accounting for nearly half of the annual investment and financing events. 2021 Compared with last year, the financing rounds for vocational education A Previously, early-stage financing, which mainly involved private placements, has gradually shifted towards strategic investment and financing. The proportion of strategic investment and financing is steadily increasing, and Pre-A till A+ The number of sessions was relatively flat. Source: Analysis by Frost & Sullivan   From a professional perspective,   In the past two years, the primary market investment and financing layout in the vocational education industry has focused on professional vertical fields (such as artificial intelligence, medicine, information technology, etc.) with vocational skills or technical training service providers. Strategic investments and IPO listing Investment and financing events with higher amounts mostly occur in content or technology service platforms, with most targets having internet or technological attributes. In contrast, mergers and acquisitions in the vocational education industry typically involve vocational training schools or institutions, as well as offline vocational education schools with substantial physical assets or online vocational education service platforms.   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 previous years. Moreover, due to the combined effects of the pandemic and regulatory policies, the stock prices in the education sector have fluctuated significantly.    " 2023 The annual listing of Pinknote and Quantum Education, which entered the capital market, respectively set new market values for the vocational education sector in Hong Kong and US stocks listed on Chinese exchanges. From a valuation perspective, A The stock market has a greater valuation advantage for the vocational education sector, while the Hong Kong stock market provides a commendable valuation for vocational training. ' ' Liu Wenjun said. Finally, Liu Wenjun summarized 3 What are the development trends of modern vocational education in China:   1 onlineization "Internet + The 'Education' model is gradually expanding. Leveraging its technological attributes for flexibility, high cost-effectiveness, and rich resources, it can provide teaching and training services to students more efficiently.   2 Branding and high quality Major training institutions are vigorously developing branded and high-quality content to enhance their visibility and recognition. By increasing investment in curriculum research and development, forming strong teaching teams, and expanding and innovating product forms, they aim to break through the 'homogenization' phenomenon and stand out in fierce competition.   3 ) School-Enterprise Cooperation and Industry-Education Integration School-enterprise cooperation and industry-education integration are the most strategic development trends in the industry, which can effectively assist students with employment. By introducing the most advanced methodologies and up-to-date practical skills from various industries, combined with the practical experience of industry veterans, they can bridge the last mile of education and training, truly solving employment problems.

The 7th China Pharmaceutical Innovation and Investment Conference To promote the integration of social capital with pharmaceutical innovation and enhance pharmaceutical innovation capabilities, 3 month 29 day -3 month 31 On the 7th, the 7th China Pharmaceutical Innovation and Investment Conference (hereinafter referred to as the 'Venture Capital Conference') was grandly held by the banks of Jinji Lake in Suzhou. This year's Venture Capital Conference was co-hosted by the China Pharmaceutical Manufacturers Association, Hong Kong Exchanges and Clearing Limited, Aimeida Consulting, and Dingxin Medicine. 7 Over the past year, the Venture Capital Conference has received strong support from Suzhou Industrial Park and has also attracted high attention and widespread praise from the domestic and international industry and investment communities. It is hailed as the 'most highly regarded pharmaceutical innovation and investment cooperation platform in the Asia-Pacific region'. This conference focuses on the integration and innovation of the pharmaceutical industry with capital under new circumstances, aiming to stimulate the source technological innovation vitality of China's pharmaceutical innovation entities and to shape a high-quality development pharmaceutical innovation ecological environment. A total of 12 Industry-themed forums, as well as 8 A themed roadshow session featuring over a hundred cutting-edge project roadshows. Additionally, the China Pharmaceutical Innovation and Investment Conference's special exhibition area has invited top domestic clinical research institutions, the most innovative R&D enterprises in China, and local industrial parks dedicated to the development of biomedicine to participate.   Frost & Sullivan Frost & Sullivan Mao Hua, Partner and Managing Director of Frost & Sullivan's Greater China Region, Zhu Yi, Senior Consulting Director of the Healthcare Business Unit at Frost & Sullivan's Greater China Region, and Li Qian, Consulting Director of the Healthcare Business Unit at Frost & Sullivan's Greater China Region, jointly attended the 'Capital Market Innovation Services Forum' of the conference. They shared and exchanged views with experts from various listed service institutions on hot topics such as the opportunities and challenges faced by biopharmaceutical companies, the strategic choices for listing biopharmaceutical companies, key areas of focus for listing, and the future development trends of the capital market for the biopharmaceutical industry. Keynote Partner and Managing Director, Greater China, Frost & Sullivan fattening At the conference site, Mao Hua, Partner and Managing Director of Frost & Sullivan Greater China, delivered a keynote speech on 'The Current Situation and Development Trends of the Nucleic Acid Drug Market'. According to him,   Compared to small molecule drugs and antibody drugs, nucleic acid drugs have the advantages of strong targeting specificity, long-lasting action, simple design, short development cycle, and a rich variety of candidate targets. They are currently one of the most popular new therapies alongside cell and gene therapy. Mao Hua pointed out that globally, most marketed nucleic acid drugs are used for the treatment of rare diseases and the prevention of COVID-19. With the expansion of indications and the continuous development and improvement of technology platforms, the sales of the vast majority of nucleic acid drugs are currently showing an upward trend. At the same time, multinational pharmaceutical companies have also actively deployed nucleic acid drugs, covering a wide range of disease areas including cardiovascular, hepatitis B, neurological, metabolic, and oncology.   In the future, with the continuous maturation and commercial success of related key technologies, driven by policy support, multi-party R&D cooperation, and capital investment, the nucleic acid drug market has great potential.   "    The development and maturation of any pharmaceutical market do not happen overnight; the industry's explosion still requires the exploration of major indications.    For example, tumors, metabolic diseases, and autoimmunity, we also expect nucleic acid drugs to make breakthroughs in these indications as soon as possible. 2021 In the year mRNA The sale of vaccines has brought about explosive growth to the global nucleic acid drug market.   However, against the backdrop of the global relaxation of COVID-19 lockdowns, the nucleic acid drug market urgently needs new growth points.   "Texturing is emphasized," said ” Mao Hua. Subsequently, Mao Hua analyzed small nucleic acid drugs and mRNA R&D progress and future trends of vaccines and drugs. According to a study by Frost & Sullivan, in   In the field of small nucleic acid drugs, there are currently 127 The drug is in clinical and Non-Disclosure Agreement Stage, mainly comprising ASO and RNAi drugs, and most are still I period and II Phase clinical trial stage,    Therefore, the development of the small nucleic acid drug market as a whole still faces the test of pharmaceutical efficacy. Mao Hua said that the indications for small nucleic acid drugs are extensive, currently mainly focusing on anti-tumor, nervous system, cardiovascular and cerebrovascular fields. Moreover, due to the dual characteristics of small nucleic acid drugs, which combine gene modification with traditional drugs, their application prospects in the field of rare diseases are broad.   "   "In the future, the small nucleic acid drug market will develop towards trends such as technological innovation, expansion of market scale and demand, multi-party collaboration, industrial clusters, and increasingly complete R&D capabilities," said Mao Hua.   And mRNA In the fields of vaccines and drugs, data shows that there are currently 77 The drug is in clinical development, mainly comprising mRNA vaccines, and most are still I period and II In the phase clinical stage, the indications for the investigational products mainly focus on anti-tumor, treatment of infectious diseases, and other areas. In addition, liposomal nanoparticles LNP ) is the most widely used delivery system currently, accounting for about mRNA pipeline 89% .   Mao Hua pointed out that the COVID-19 pandemic has accelerated it mRNA With the popularization and commercialization of technology, countries have increased their investment in mRNA The investment in technology has promoted mRNA Construction and improvement of the technology platform.   In the future, as technology applications gradually mature, it is expected mRNA The field of vaccines and drug treatments will continue to expand, with a gradually complete R&D system. Efficacy and safety will also be continuously improved, and the industry is expected to achieve synchronous development through cooperation for mutual benefit.   Roundtable Forum Senior Consulting Director, Healthcare Business Unit, Frost & Sullivan Greater China Zhu Yi (second from the left)   Zhu Yi, Senior Consulting Director of the Healthcare Practice Group at Frost & Sullivan Greater China, participated in a session on 'Capital Winter's Impact on M&A and IPO Destination Selection'. IPO listing Policy Roundtable Discussion Session    Under the chairmanship of Fei Fan, the Audit Services Partner in charge of the Central China region and co-lead partner for Life Sciences and Healthcare in Greater China at EY Hua Ming Accounting Firm, together with Qiu Yumin, a partner at Shangwen Capital, Tang Zhoujun, a partner at Zhong Lun Law Firm, Ji Lihua, the sponsor representative of the Healthcare Industry Department at Huatai United Securities Co., Ltd., and Zhu Bin, a partner at EY Tax and Business Consulting, we discussed the strategic choices for listing biopharmaceutical companies and the key areas of focus for listing. Zhu Yi said,   The choice of listing location should take into account multiple factors such as investors, market environment, and the progress of core products.   after 2022 In the first wave of adjustments in the year, there have been profound changes in market preferences for risk and innovation standards.   Biotech companies need to create their own differentiation to remain invincible and have more flexible options in the capital market. Consulting Director, Healthcare Business Unit, Frost & Sullivan Greater China Li Qian (second from the left)   Li Qian, Consulting Director of the Healthcare Business Unit of Frost & Sullivan Greater China, participated in the roundtable discussion session themed 'Financing Challenges and Valuation of Biotech Companies in the New Environment'.    Under the chairmanship of Liang Fangyuan, Deputy Director of the Healthcare Industry Group at Huatai United Securities Investment Banking, together with Zhang Yiqiang, Audit Services Partner at EY Hua Ming Accounting Firm, Gao Xin, Partner at Zhong Lun Law Firm, and Su Hua, Head of the Life Sciences and Healthcare Industry in Greater China at EY Patton & O'Connor, they discussed the current investment and financing trends in the biopharmaceutical industry under the current environment.   Li Qian believes that the valuation decline of biotech companies is not due to a cold winter, but rather a rational return to value. 2017 Since the reform of the annual review and approval system, innovative biotech companies have emerged in an endless stream. The market is optimistic, but subsequently there has been industry competition and severe homogenization of targets. The development of the industry has always moved from leniency to strictness. 2021 year, CDE The promulgation of the 'Guiding Principles for Clinical Research and Development of Antitumor Drugs Oriented towards Clinical Value' has set higher requirements for candidate drugs entering clinical development. It has also brought the market back to an evaluation based on clinical value and patient benefits, squeezing out bubble components.   Regarding valuation restoration, Biotech It is necessary to grasp innovation, patient benefits, market, and profitability, expand the valuation ceiling, be value-oriented, navigate industry cycles, and achieve Biotech towards Biopharma company Transformation.   Exhibition area   Frost & Sullivan has always regarded the global health industry as one of its core areas of focus. With a global perspective, it is committed to providing full life-cycle services for investment and financing stages to enterprises in the healthcare industry. It helps clients accelerate their growth pace, assist them in achieving growth, innovation, and leading benchmarks within their industry. Frost & Sullivan is also considered one of the most powerful, professional, and influential industry research institutions in the sector.   This time, Frost & Sullivan made an appearance at the China Healthcare Innovation & Investment Conference, attracting the attention of many professional audiences and media. In the exhibition area, through various forms such as display boards and brochures, the company's corporate philosophy and business operations were comprehensively introduced to the visiting guests. At the same time, the latest releases of Frost & Sullivan's Healthcare Business Unit in Greater China were showcased.    Several industry development blue books,    For example, 2023 China Rare Diseases Industry Trend Observation Report》, Medical Devices CRO firm Industry Status Quo and Development Trends Report, Blue Book on the Current Situation and Development Trends of China's Artificial Liver Industry, Report on the Current Situation and Development Trends of the Modified New Drug Industry CDMO company Research Reports on the Current Development Status and Future Trends of the Industry, etc., aiming to provide important reference perspectives for market stakeholders. About Frost & Sullivan's Healthcare Practice   The Healthcare Practice of Frost & Sullivan has professional analytical capabilities and extensive project experience in the life sciences sector. Leveraging the global think tank resources of Frost & Sullivan and its cross-industry business development platform in Greater China, Frost & Sullivan Healthcare has unique core advantages in investment and financing services for the healthcare industry. Frost & Sullivan Healthcare has a wide range of corporate clients in China and in the past 20 In the year, a vast customer network was established, and a wealth of project experience in various medical sub-fields was accumulated. Project types include Knowledge Center projects (in-depth content, promotional activities). Pre-IPO financing project DCF model Valuation, Business Plan Services), IPO listing We provide listed projects (industry consulting, clinical audits, fundraising and investment writing), market research, market value management and strategic consulting. We also cooperate with well-known domestic and international information platforms and investment and financing institutions, offering one-stop solutions for enterprises in specialized fields such as pharmaceuticals and medical devices. Our services have received wide attention from investors.  

The State Administration for Market Regulation has issued the 'Administrative Measures for the Supervision and Administration of Online Drug Sales', which will significantly impact the market for online drug sales worth hundreds of billions and will activate huge potential incremental growth in online prescription drug sales. Over the years, the state has proposed and deployed internet-related policies in multiple policy documents. + Medicine, Internet + Medical care, Internet + medical insurance, internet + Health, in particular, has driven the explosion of the pharmaceutical e-commerce and prescription drug online market. The data shows, 2021 Online pharmacy sales scale in China in 2234 Yuan billion, an increase compared with the previous year 40.2% Total revenue of JD Health, Alibaba Health, and Pharmacist Assistant 307 yuan, 206 yuan, 101 Yuan billion, a year-on-year increase 58.3% , 32.6% , 66.4% The market capacity is huge, it will continue to grow in the future, online weight is increasing, and the gross profit margin of online drug sales is relatively high. Pharmaceutical e-commerce has been developing rapidly for many years. However, how to select products and channels, how to promote and operate, how to maintain online prices well, have become real difficulties faced by many pharmaceutical companies. Against this backdrop, 4 month 1 - 2 On 11 The China Medicine Internet Conference was successfully held in Nanjing. With the theme of 'From Traffic to Content', the conference invited many industry market experts to exchange and share their experiences.   Frost & Sullivan Frost & Sullivan Mao Hua, Partner and Managing Director of Frost & Sullivan's Greater China Region, was invited to attend the conference and delivered a speech on 'New Changes and Trends in Pharmaceutical E-commerce'. Partner and Managing Director of Frost & Sullivan Greater China Region fattening Mao Hua pointed out that the current Chinese healthcare ecosystem faces pain points such as uneven distribution of medical resources, the unbalanced accessibility and supervision of drug and device circulation and traceability, and the lack of safeguards for the single largest payer in the healthcare system.   The pharmaceutical system, medical service system, and healthcare insurance system lack an organic platform for data interconnection and interoperability, making it difficult to support the coordinated and efficient operation of the entire healthcare system, as well as the purpose of supervising and serving a large number of patients.   The development of China's digital healthcare industry has gone through stages from medical informatization, internet healthcare to digital healthcare platforms, gradually evolving from addressing local pain points to systemic ones. China's digital healthcare industry consists of six major sectors: pharmaceutical e-commerce, digital consumer healthcare, digital insurance, digital diagnosis and treatment, digital enterprise services, digital health infrastructure, and digital health management. As the most mature and largest sector, pharmaceutical e-commerce holds a prominent position in the industry. According to a study by Frost & Sullivan, the market size of digital healthcare in China has been growing at a significant rate over the past few years. 2017 Year to 2021 The compound annual growth rate reaches 34.5% , is expected to arrive 2025 The market size will grow to 15,630 yuan, 2021 Year-end 2025 The compound annual growth rate will exceed 35% Among them, the proportion of pharmaceutical e-commerce is also continuing to grow, reaching 2021 In [year], the proportion of traditional Chinese medicine e-commerce in China's digital healthcare market has exceeded 56% .   "Compared to industries such as tourism, retail, and catering, the current digital migration rate in the pharmaceutical sector is still at a relatively low level, and there is significant potential for growth in the digital migration rate in the pharmaceutical field in the future."   Mao Hua further explained that, benefiting from the development of mobile internet, Chinese consumers have gradually developed the habit of online drug purchasing. It is expected that this will drive a continuous increase in the digital migration rate in the pharmaceutical industry in the future. In addition, policy regulation and the healthy development of the industry will also bring the next dividend to pharmaceutical e-commerce. In the future, with the upgrade of medical logistics and the improvement of operational capabilities, pharmaceutical e-commerce will further meet patients' deeper needs for medication and healthcare. According to Mao Hua, in recent years, the evolution of pharmaceutical e-commerce B2B , B2C , O2O model The three business models have digitally innovated the interaction methods within the pharmaceutical industry chain, saving on circulation costs and improving circulation efficiency, thereby greatly promoting the rapid operation of pharmaceutical distribution. And these three different business models can solve different accessibility pain points, such as B2B Achieve efficient pharmaceutical distribution, improve communication and transaction efficiency between sales terminals and pharmaceutical companies, and significantly reduce drug circulation costs; B2C In the model, sellers can directly face end consumers, while buyers can expand their range and variety of consumption choices, enabling online price comparison and making transaction prices public and reasonable. O2O model It achieves specialized and timely distribution within the drug area through an organic combination of online and offline methods, efficiently meeting consumer needs.   "But regardless 2B (Medicine circulation) or 2C (Medical e-commerce) all require empowerment through digital technology for development 1+X "By creating new value-added service items, we aim to enhance market competitiveness," Mao Hua said. Mao Hua said that looking at the Chinese pharmaceutical e-commerce market, there is currently a competitive landscape where four major categories are advancing side by side and internet giants dominate the market. JD Health and Alibaba Health account for more than 80% The market share is mainly in over-the-counter (OTC) drugs, with the category expected to see more significant growth driven by the liberalization of online prescription sales in the future. About Frost & Sullivan's Healthcare Practice The Healthcare Practice of Frost & Sullivan has professional analytical capabilities and extensive project experience in the life sciences field. Leveraging the global think tank resources of Frost & Sullivan and the cross-industry business development platform in Greater China, Frost & Sullivan Healthcare has unique core advantages in investment and financing services for the healthcare industry. Frost & Sullivan Healthcare has a wide range of corporate clients in China and in the past 20 In the year, a vast customer network was established, and a wealth of project experience in various medical sub-fields was accumulated. Project types include Knowledge Center projects (in-depth content, promotional activities). Pre-IPO financing project DCF model Valuation, Business Plan Services), IPO listing We provide listed projects (industry consulting, clinical audits, fundraising and investment writing), market research, market value management, strategic consulting, etc. We also cooperate with well-known domestic and international information platforms and investment and financing institutions to provide one-stop solutions for enterprises in specialized fields such as pharmaceuticals and medical devices. Our services have received wide attention from investors.

The 4th Xinyuanli Forum 4 month 1 day -2 On the day, the Fourth New Original Power Forum was successfully held in Hangzhou, Zhejiang Province. The New Original Power Forum was initiated by Dr. Yu Guoliang, the founder of the New Original Power Industrial Cluster. Each session has always adhered to the mission of empowering the innovative upgrading of China's biopharmaceutical industry, placing discussions on science, technology, and industry within the broad context of society, environment, and humanities. It brings together top scientists, entrepreneurs, and investors from the global biopharmaceutical field for in-depth discussions and exchanges. As a highly influential life science industry conference in the industry, this year's conference lasted for two days, with an unprecedented scale of forums, attracting nearly a thousand participants online and offline. 4 month 1 The event features keynote speeches and forums, presented by Nobel laureates Bruce Beutler , DEFTA The original patriarch and others unfolded, 4 month 2 Three parallel sub-forums on the same day, covering RNA Technology, synthetic biology, FDA New policy, CGT and CXO Five major topics, with top industry guests discussing hot topics together.   Frost & Sullivan Frost & Sullivan Mao Hua, Partner and Managing Director of Frost & Sullivan's Greater China Region, was invited to attend the conference and delivered a presentation on 'China CXO Delivered a speech on "Market Current Situation and Development Trends". Partner and Managing Director of Frost & Sullivan Greater China Region fattening   Mao Hua pointed out, entrust CXO has become an important path for pharmaceutical companies in drug research and development and production, capable of enhancing R&D efficiency, reducing costs, and promoting technological iteration. Both large pharmaceutical companies and startups can utilize CXO Benefit from the high-quality services provided. Data shows, China CRO company Market scale has shifted from 2017 year 43 USD billion growth to 2021 year 99 billions, expected to 2025 The market size will grow to 242 billions of dollars; while China CDMO company Market scale is determined by 2017 year 2 USD billion growth to 2021 year 73 billions, expected to 2025 This number will grow to 244 billion dollars.   china CRO company and CDMO company Service providers are playing an increasingly important role in the global market, relying on advantages such as talent, cost, and capital, with their share in the global market steadily increasing. According to a study by Frost & Sullivan, segmented by clinical stage, in China CRO firm In the market, with the acceleration of the domestic innovative drug market and CRO company Accelerated overseas business expansion of the company, drug discovery CRO company It has developed most rapidly in recent years. However, in order for more Chinese innovative drugs to go global through self-development,   Domestic clinical trials CRO firm The company will continuously enhance its capabilities, enter the global market, and is expected to conduct future clinical CRO company The market scale will grow rapidly at the highest rate. In the field of small molecule drugs, the success rate of developing new molecular entity drugs is low, the development difficulty is high, market competition tends to be fierce, and pharmaceutical companies tend to CDMO company Cooperation enhances efficiency and reduces product process development costs. Small molecules CDMO company Continuously provide services with high added value to meet the changing needs of drug R & D and production, targeting raw materials with high upstream and downstream technical barriers API Penetration at the formulation end continues to grow, and its market size continues to expand.   2017 Year to 2021 The annual compound average growth rate exceeds 32% , is expected to arrive 2025 Year, Chinese small molecules CDMO The market scale will exceed 1,100 1000 million RMB 2021 Year-end 2025 Annual compound average annual growth rate is nearly 37% .   "In the biopharmaceutical field, the rapid development of the domestic biopharmaceutical market and the increase in overseas orders have driven the growth of China's biopharmaceutical CDMO company Rapid rise. ”   Mao Hua further explained that, on one hand, the Chinese biopharmaceutical market is growing rapidly, accounting for a continuous rise in the global pharmaceutical market share, which has driven up the demand for outsourcing services for biopharmaceutical research and development and production. On the other hand, the National Medical Products Administration's Center for Drug Evaluation ( CDE ) on 2017 Year-end 2021 Biopharmaceutical innovation drugs accepted during the year IND The surge in volume has continued to drive up the interest in innovative biopharmaceutical research and development, which has also led to CDMO company The demand is constantly growing,   2017 Year to 2021 In [year], China's biopharmaceuticals CDMO company The compound annual growth rate of the market scale exceeds 52% , is expected to arrive 2025 In [year], the market size will reach 468 1000 million RMB. at CGT field   CGT The R&D and production barriers of products are high, and they rely more on outsourced R&D and production process services than traditional drugs. Moreover, the R&D costs of products are much higher than those of traditional drugs. R&D enterprises have a strong willingness to reduce costs and tend to entrust tasks. CDMO company Cooperate.   R&D enterprises and CDMO company Grow together, drive CGT The clinical progress of the product effectively reduces R&D costs. China CGT CDMO The market scale is 2017 year 7 RMB 10 billion, an increase of 2021 year 18 100 billion RMB, expected by 2025 In [year], the market size will reach 96 1000 million RMB 2021 Year-end 2025 The annual compound average growth rate exceeds 50% .   Mao Hua believes that the future CXO The following development trends will be presented:   1 ) CXO Enterprises are extending vertically along the drug R&D industry chain to enhance customer stickiness and achieve a diversion effect; 2 ) CXO Leading enterprises have started the pace of global expansion, further absorbing orders from home and abroad; 3 small and medium-sized CXO Enterprises choose to deeply cultivate niche markets, strive to build distinctive and differentiated technological advantages, and seek development space in areas with technological strengths; 4 ) CXO While the industry develops endogenously, it extends its industrial chain and optimizes strategic layout through external acquisitions and mergers to expand business scope and capacity.   About Frost & Sullivan's Healthcare Practice The Healthcare Practice of Frost & Sullivan has professional analytical capabilities and extensive project experience in the life sciences sector. Leveraging Frost & Sullivan's global think tank resources and cross-industry business development platform in Greater China, Frost & Sullivan Healthcare has unique core advantages in healthcare industry investment and financing services. Frost & Sullivan Healthcare has a wide range of corporate clients in China, and in the past 20 In the year, a vast customer network was established, and a wealth of project experience in various medical sub-fields was accumulated. Project types include Knowledge Center projects (in-depth content, promotional activities). Pre-IPO financing project DCF model Valuation, Business Plan Services), IPO listing We provide listed projects (industry consulting, clinical audits, fundraising and investment writing), market research, market value management, and strategic consulting. We also cooperate with well-known domestic and international information platforms and investment and financing institutions to offer one-stop solutions for enterprises in specialized sub-sectors such as pharmaceuticals and medical devices. Our services have received wide attention from investors.

Huawei held its 2022 annual report press conference in Shenzhen on March 31, 2023. Analysts from Frost & Sullivan's Greater China region participated as special invitees.   Highlights of the Conference 1. Huawei's Strategic Measures During the 2022 annual report press conference, Xu Zhijun, Huawei's rotating chairman, proposed five strategic measures:   First, empower digitalization, intelligence, and green development to create growth opportunities;   Second, optimize the industrial portfolio to enhance resilience;   Third, strengthen collaboration among chips, software, hardware, terminals, networks, and cloud to create differentiated advantages;   Fourth, win by quality and continuously make Huawei synonymous with high-quality ICT industry standards;   Fifth, invest heavily in research and development to ensure high-quality business continuity and enhance product competitiveness;   Finally, Xu Zhijun stated that Huawei faces immense pressure but has growth opportunities, portfolio resilience, differentiated advantages, trust from customers and partners, and the courage to invest heavily. Huawei is confident in overcoming difficulties and achieving sustained survival and development. 2. Release of Huawei's Annual Report   On March 31, Huawei released its 2022 annual report. The report shows that: In 2022, Huawei achieved total sales revenue of 642.3 billion yuan, a year-on-year increase of 0.9%; net profit was 35.6 billion yuan, a year-on-year decrease of 68.69%. Specifically in terms of business segments, Huawei's operator services revenue was 284 billion yuan, up 0.9% year-on-year; Consumer services revenue was 214.5 billion yuan, down 11.9% year-on-year; Enterprise services revenue was 133.2 billion yuan, up 30% year-on-year.   As a key to the industry's digital transformation, benefiting from opportunities in digitalization, intelligence, and green transformation, Huawei's digital energy and cloud computing businesses are also experiencing rapid development. Among them, the digital energy business achieved sales revenue of 508 billion yuan, and the cloud computing business achieved sales revenue of 453 billion yuan. It is worth mentioning that, Huawei continues to assist in the industry's digital transformation, serving 267 of the world's top 500 enterprises and promoting over 100 digital transformation solutions, at the same time, Huawei helps global customers achieve green and low-carbon development, generating 659.1 billion kWh of green electricity, reducing carbon emissions by 340 million tons, equivalent to planting 470 million trees.   In addition, Huawei has a robust capital structure and ample cash reserves. In 2022, Huawei's asset-liability ratio also stabilized at 58.9%, with net cash reaching 176.3 billion yuan. It can be seen that the asset-liability ratio is at a low level, indicating strong debt repayment capabilities. Ms. Meng Wanzhou, Chief Financial Officer of Huawei, mentioned that the ample net cash is sufficient to support the company's investments for the next few years.   At the same time, Huawei continues to increase investment in research and development to enhance product competitiveness. The financial report shows that, in 2022, Huawei's total R&D investment was 161.5 billion yuan, about 25.1% of the annual revenue. In 2022, R&D expenses and the R&D expense ratio continued to be at their highest levels in nearly a decade. Continuous investment has also made Huawei one of the world's largest patent holders, as of the end of 2022, Huawei held more than 120,000 valid authorized patents globally.   Finally, Ms. Meng Wanzhou pointed out, "In 2022, Huawei's operations still faced significant pressure. Overall, the operating results met expectations. After the snow, the plum blossoms are pressing against the branches; when spring comes, the morning sun is already shining brightly. We have pressure but also confidence."   Interpretation by Frost & Sullivan Huawei achieved total sales revenue of 642.3 billion yuan for the year, with operating results meeting expectations. Compared to 636.8 billion yuan in 2021, there has been a stable growth. Huawei's revenue increase benefits from opportunities in digitalization, intelligence, and low-carbon transformation, with rapid development in digital energy and cloud computing businesses; in addition, the ICT infrastructure business has maintained stable growth, and the HarmonyOS ecosystem for terminals has thrived. Overall, Huawei's business lines have demonstrated strong resilience and elasticity, ensuring the continuity of operations.   Under the wave of industry digitalization and intelligent transformation, Huawei has established a Legion organization to integrate resources and assist in the high-quality development of the industry. At the same time, Huawei Cloud adheres to the principle of serving everything, building a digital cloud foundation and enablers for the industry, providing high-quality innovative cloud services across the stack, aiming to develop over one million partners and connect tens of millions of developers and users.   Huawei's sales revenue has been steadily growing, and the profitability of its main business has gradually improved, shifting from seeking 'survival' to seeking 'development'. Ms. Meng Wanzhou mentioned, "Continuous existence and operation are the interpretations of financial stability." Huawei has created growth opportunities, possesses development resilience, builds differentiated advantages, and has the trust and strong investment from customers and partners, which will enable it to achieve sustained survival and high-quality development.

2023 Vocational Education Private Board of Directors With the country's high emphasis on vocational education, the vocational education industry is undergoing rapid development and transformation. Currently, the market scale of vocational education is expanding year by year, and the deep integration of educational technology and artificial intelligence has injected new vitality into vocational education. At the same time, with changes in industrial structure and labor markets, vocational education is also playing an increasingly important role in improving labor quality and alleviating employment pressure. In pursuit of new development and in the face of a new situation, 3 month 28 On the same day, Multi Whale Capital, in collaboration with Tencent Education, jointly hosted a private board meeting on vocational education in Beijing. The event aimed to provide a platform for industry experts, scholars, and entrepreneurs to exchange and share ideas, focusing on the current development status and future trends of the industry, and discussing how to promote the transformation and upgrading of vocational education.   Frost & Sullivan Frost & Sullivan Liu Wenjun, Executive Director of Frost & Sullivan Greater China, was invited to attend this event and delivered a speech on 'New Trends and Policy Prospects in the Vocational Education Industry'. Executive Director, Greater China, Frost & Sullivan Liu Wenjun   Liu Wenjun stated that in today's era, where China is promoting deepening reforms and high-quality development of the economy, the new historical backdrop has endowed modern vocational education with new missions and positioning.   2022 year 12 In the month, the General Office of the Communist Party of China Central Committee and the General Office of the State Council issued the 'Opinions on Deepening the Reform and Construction of the Modern Vocational Education System' (hereinafter referred to as the 'Opinions'). The 'Opinions' reaffirm the positioning of vocational education, which is to serve the all-round development of individuals and lifelong learning for all citizens. 'Establish and improve a gradient vocational education and training system that connects in various forms, grows through multiple channels, and is sustainable. Promote the coordinated development and integration of vocational education and general education, so that students with different talents and needs can make multiple choices and grow diversely.' This plays an important role in reversing the long-standing social bias against vocational education and alleviating educational anxiety caused by the diversion between vocational and general education.   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. such as 2019 year 2 The 'National Vocational Education Reform Implementation Plan' issued in January mainly clarifies and improves the national vocational education system; 2021 year 4 In the month, the National Vocational Education Conference made a series of major arrangements to accelerate the construction of a high-quality modern vocational education system; 2021 year 10 In the month, the 'Opinions on Promoting the High-Quality Development of Modern Vocational Education' issued by the General Office of the Communist Party of China Central Committee and the General Office of the State Council clarified the goal framework, key tasks, and schedule for constructing a modern vocational education system; 2022 year 4 In the new month, the newly revised Vocational Education Law has clarified that vocational education is an educational type of equal importance to general education, recognizing its status at the legislative level. This 'Opinion' further deepens the reform of the system construction, focusing on solving and answering three major issues: the development concept of vocational education, the development path, and the main responsibility.   Liu Wenjun cited Chen Ziji, Director of the Vocational and Adult Education Department of the Ministry of Education of China, who explained the 'Opinions' by mentioning five 'turnovers' in the construction of modern vocational education: The functional orientation of vocational education has shifted from 'seeking employment' to 'people-oriented', placing more emphasis on serving the all-round development of individuals; the focus of vocational education reform has shifted from 'education' to 'industry-education integration', placing more emphasis on serving economic and social development; the service domain of vocational education has shifted from 'region' to 'overall situation', placing more emphasis on supporting the new development pattern; the development path of vocational education has shifted from 'classification' to 'coordination', placing more emphasis on coordinating the collaborative innovation of three types of education; and the main body of vocational education has shifted from 'single' to 'diverse', placing more emphasis on the participation of social forces. According to a study by Frost & Sullivan, the scale of the vocational education market in China has changed from 2016 year 5,167 Yuan, increasing to 2021 year 7,811 100 million yuan, with an average annual compound growth rate 8.6% The growth rate is significantly accelerating;   It is expected that the vocational education market in China will be 2025 The annual scale exceeded one trillion, and in 2026 Annual achievement 10,979 yuan, 2021 Year-end 2026 The average annual compound growth rate over the five years of 6.5% .   Compared with vocational school education, that is, academic vocational education, non-academic vocational education (vocational examination training and vocational skills training) accounts for approximately 30% However, its growth is more pronounced. 2020 The market scale of non-degree vocational education has exceeded 2,000 yuan, 2016 Year-end 2021 The average annual compound growth rate over the five years of the year reached double digits.   "To change the stereotype of vocational education in society and among parents, it is necessary to continuously broaden the upward mobility of vocational education, continuously improve its competitiveness and attractiveness. This requires the integration of vocational education with general education, ensuring effective connectivity between different levels of vocational education."   Liu Wenjun further added, 'Ten years ago 2010/2022 The scale of vocational and general education students is roughly the same across the year, with a vocational-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 jobless rate dropped to 3:7 . From the perspective of education policy, the state has guided and regulated the return ratio of vocational to general education 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 education.   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. 2014 Since the beginning of this year, our country has actively explored comprehensive reform methods for vocational undergraduate programs, aiming to solve bottlenecks in the development of vocational colleges and enhance the quality and attractiveness of vocational education.   The key to 'Vocational and General Education Integration' lies in constructing a new pathway that connects secondary vocational, higher vocational education to professional degree postgraduate education, forming a systematic mechanism for integrated cultivation of technical and skilled talents.   at the same time,   The establishment of vocational undergraduate programs has also broken the 'ceiling' that vocational education has traditionally stopped at, providing a new path for the future development of students trained by vocational education. Liu Wenjun pointed out that the development of modern vocational education in China presents the following 3 Trend   :   1 ) Online trend,     "Internet + The 'Education' model is gradually expanding, leveraging its technological attributes to provide more efficient teaching and training for students;   2 ) Trend towards branding and high quality   The institution vigorously develops branded and high-quality content, aiming to break through the 'homogenization' phenomenon and stand out in fierce competition;   3 ) Trends in School-Enterprise Cooperation and Industry-Education Integration   School-enterprise cooperation and integration of industry with education are the most strategic development trends in the industry, aiming to bridge the last mile of education and training and truly solve employment problems.