3 month 24 Today, the Exchange of Hong Kong Limited's wholly-owned subsidiary, the Hong Kong Exchanges and Clearing Limited (HKEX), announced the launch of a new listing mechanism for technology-specific companies. At the same time, the Main Board Listing Rules (hereinafter referred to as the 'Listing Rules') will be 3 month 31 Daily additions 18C The regulations come into effect on the 1st, and companies intending to apply for listing can submit their formal applications from that day onwards. What is the significance of these new regulations for main board listings? What are the expected impacts on the structure of the Hong Kong stock market and its international status? The allowance for tech companies without revenue or profit to list in Hong Kong has implications for mainland tech companies seeking to go global in Hong Kong. IPO listing What are the impacts, and what are the expected benefits and risks?   2018 The Hong Kong Exchanges and Clearing Limited has added it to the listing rules 18A , 8A and 19C Three chapters, 5 What has been the reform's effectiveness over the past year? What impacts are expected on this new main board regulation reform due to previous reforms?    Frost & Sullivan Frost & Sullivan Dr. Wang Xin, Global Partner and President of Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), was interviewed by Securities Daily to discuss the impact of the new regulations on the Hong Kong Stock Exchange. Securities Daily Q What is the significance of these new regulations for main board listings? What impacts are expected on the structure of the Hong Kong stock market and its international status? The allowance for tech companies without revenue or profit to list in Hong Kong has implications for mainland tech companies seeking to go global to Hong Kong IPO listing What are the impacts, and what are the expected benefits and risks? Dr. Wang Xin Global Partner and President, Greater China at Frost & Sullivan   The significance of the new listing rules for the Hong Kong Main Board on the Hong Kong Stock Exchange lies in enabling early-stage technology companies to enter the Hong Kong capital market earlier and raise equity through the public market. The implementation of these new regulations will help expand investment opportunities in the Hong Kong market, enhance the vitality of the Hong Kong Stock Exchange, increase the variety of listed companies in Hong Kong, make the Hong Kong Stock Exchange more diversified, and further strengthen Hong Kong's competitiveness with other markets such as the United States, Singapore, and the Chinese mainland. In addition, the Hong Kong Stock Exchange allows technology companies without revenue or profit to go public, which is of great help in promoting the upgrading of the science and technology innovation industry in the Greater Bay Area. However, this also tests the market's ability to withstand risks and investors' stock selection skills. Q Some Mainland enterprises have already started preparations to meet 18C The industry requires listing on the Hong Kong stock market. Are your company prepared to serve mainland clients? Which industries are mainly involved? How long does the listing process on the Hong Kong stock market typically take? Dr. Wang Xin Global Partner and President, Greater China at Frost & Sullivan   It is expected that new economic sectors such as digital technology, new energy and environmental protection, and advanced hardware manufacturing will be the main beneficiaries of this reform. These industries have high growth potential and investment value. The general process of listing in Hong Kong involves preliminary listing preparation, submission of an application for listing, passing the Hong Kong Stock Exchange's hearing, and market promotion. Depending on the progress of the project, it generally 6 reach 12 A month's time. Frost & Sullivan has made sufficient preparations to serve mainland clients. Our investment and financing business has achieved full industry coverage of the Chinese national economy, and we have extensive experience serving mainland clients in the aforementioned industries. Frost & Sullivan has entered China. 25 Since 2019, relying on our nearly 50 The office, utilizing a powerful database and expert database, and applying rich professional knowledge and consulting tools, has helped nearly a thousand companies successfully list on the Hong Kong and overseas stock exchanges. With a global perspective, it assists clients in accelerating their growth pace, helping them achieve growth, innovation, and leading benchmarks within the industry. Q 2018 The Hong Kong Exchanges and Clearing Limited has added it to the listing rules 18A , 8A and 19C Three chapters, 5 What has been the reform's effectiveness over the past year? What impacts are expected on this new main board regulation reform due to previous reforms? Dr. Wang Xin Global Partner and President, Greater China at Frost & Sullivan   The main board new regulation reform item this time is following 2018 Annual Main Board Listing Rules of the Hong Kong Stock Exchange 18A Zhang “Allow biotech companies to go public”, No. 18B After the 'Special Purpose Acquisition of Companies', the Hong Kong Stock Exchange has once again established a special listing system. 2018 The annual listing reform has led to more companies from the healthcare (pharmaceuticals, biotechnology, healthcare equipment, etc.) and information technology (electronic devices, system development, Internet of Things, e-commerce, etc.) sectors going public in Hong Kong. The information technology sector is currently the largest industry on the Hong Kong Stock Exchange market, and currently, healthcare and information technology industries together account for more than one-third of the total market value in the Hong Kong market. Previous reforms have set a good example for the new main board regulations, helping the Hong Kong Stock Exchange become a financing hub for start-ups. While bringing more trading volume and capital inflows to the exchange, they have further expanded its influence in global markets.   * This interview was published in 'Securities Daily', with reporters Li Wenshan and Mao Yirong.    "The     HKEX: New listing rules for technology-specific companies will be 3 month 31 Effective from today    >>    (Click "Read Full Article" at the end of the text to read the complete report).

2023 year 3 month 25 day -26 On 2023 The China Improved Innovative Drugs Pearl River Summit Forum was held in Guangzhou. This summit invited managers from the domestic pharmaceutical industry, powerful pharmaceutical companies, and renowned academicians respected in the industry to gather together. Experienced and knowledgeable experts discussed and exchanged views on topics such as the interpretation and implementation of new policies and regulations, R&D project establishment strategies, formulation technology and clinical trials, analytical quality control and registration, pediatric medications, excipients and packaging materials, investment, etc. Frost & Sullivan Frost & Sullivan Li Qian, Consulting Director of the Healthcare Business Unit at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), was invited to attend the event and delivered a speech on the current development status and future trends of improved new drugs. Consulting Director, Healthcare Business Unit, Frost & Sullivan Greater China Li Qian Li Qian pointed out that improved new drugs are based on the original drug and have better clinical application effects. Compared with already marketed drugs, improved new drugs can enhance drug efficacy, improve drug safety through process improvements, and make them more convenient for patients to use through the improvement of formulation technology, thereby increasing compliance. The research data of known active ingredients in improved new drug candidates can be used to shorten the clinical research and development cycle, offering a higher 'cost-effectiveness' in terms of pharmacoeconomics. The success rate of their research and development is as high as that of new molecular entities. 2.3 Multiple times the input-output ratio is superior, and several products have already demonstrated promising commercial prospects. For example, AbbVie's leuprorelin acetate microspheres. 2021 Global sales 17.9 billion US dollars, with a market share of approximately 64%-82% .   According to a Frost & Sullivan study, improved new drugs started their journey in the Chinese pharmaceutical market relatively late. However, driven by factors such as growing and upgrading treatment needs, favorable policies, and advancements in innovative formulation technologies, they have now entered a stage of rapid growth.   . 2020 In China, the market scale of improved new drugs reached 3,239.9 RMB 10 billion, accounting for 22.4% , is expected to arrive 2030 The market scale will reach 7,951.7 RMB 10 billion, accounting for 26.6% In addition, companies engaged in innovative new drug development are also favored by the capital market. There are already many innovative new drug companies with market values in the global arena 10 For companies with over hundreds of millions of dollars, the investment and financing in China's improved new drug pipeline are also very active. Data shows that in recent years, the number of registrations for improved new drugs has been on the rise year by year. As of 2023 year 3 month, and there are currently 33 Several improved new drugs have been approved for marketing, mostly 2.2 New dosage forms and routes of administration, yes 185 An improved new drug is in the clinical trial and marketing application stages, with therapeutic areas mainly focusing on anti-tumor drugs, cardiovascular system drugs, nervous system drugs, and anti-infective drugs.   "Innovative formulations are an important factor driving the growth of the market for improved new drugs," Li Qian further explained.    Compared to traditional dosage forms, innovative formulations can improve medication compliance, enhance drug therapy, fill medication gaps, and reduce toxic side effects. Therefore, they account for the largest proportion in both approved and research portfolios.   2020 In China, the market scale of innovative preparations reached 1,326.7 RMB 10 billion, accounting for 41% , is expected to arrive 2030 In 2024, innovative formulations will account for nearly half of improved new drugs. The administration routes of innovative formulations are diverse, meeting the clinical needs of different patients. Currently, the development of dosage forms for innovative formulations is diversified, with injections, sustained-release tablets, ophthalmic preparations, orally disintegrating films, and conventional tablets accounting for a relatively large proportion in the pipeline. According to Li Qian, the indications for innovative formulation products under research are extensive, mainly including anti-tumor drugs, nervous system drugs, and cardiovascular system drugs. However, unlike half of the approved innovative formulations that are only used BE experiment ( Most are orally disintegrating film agents ) , Among the innovative preparations under research 4 A drug does BE experiment. Since BE The results of trials do not necessarily prove that a drug has clinical advantages. In the future, improved new drugs will only be approved BE The difficulty of conducting trials to support market launch will increase. Li Qian pointed out,   Innovative formulation products are continuously upgrading and iterating towards longer duration of efficacy and lower dosing frequencies. While enhancing the clinical advantages of products, they also help enterprises continuously occupy market share and extend the product lifecycle.   At the same time, there will be more products of different new technology types for the same active ingredient, potentially   In the future, it will change the market landscape of innovative preparations in our country. In addition, there is an obvious gap in the development of innovative formulations in China compared to foreign countries. There are fewer domestically produced varieties of high-end formulations such as microspheres on the market. Under the premise of policy subsidies and equivalence,   Domestic innovative formulations are expected to replace original research products with their price advantage. "The development opportunities and challenges of innovative formulations coexist," said Li Qian. On one hand, after the launch of innovative formulations, their impact on collection is relatively limited.   Can maintain high gross margins for a relatively long time,   And as patients' payment levels improve,   More and more patients are able to choose products with better efficacy and more convenient medication.   At the same time, compared with innovative drugs,   The innovative formulation is more in line with the hospital's medication habits.    Conducive to the clinical promotion of domestic products after they are launched on the market.   On the other hand, there are certain technical barriers to innovative formulations, and it is difficult to industrialize their technology research and development.   It will test the enterprise's large-scale production capacity. Recommended Reading ↓&darr>Long-press the QR code below to obtain the report ↓&darr> About Frost & Sullivan's Healthcare Practice The Healthcare Practice of Frost & Sullivan has professional analytical capabilities and extensive project experience in the life sciences. Leveraging Frost & Sullivan's global think tank resources and the 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, accumulating extensive project experience in various medical sub-sectors. 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 official website of 'Frost & Sullivan' has been newly launched www.frostchina.com   Announced! The official website of 'Frost & Sullivan' has been officially launched! Website address 🔍  www.frostchina.com   Website coverage Insights, industries, services, Media Center, About Us, Join Us 6 Major sections Completely and three-dimensionally presenting Frost & Sullivan Business areas, research findings, company news Come and take a look first!   Insights   Including Industry research, best practices, market trends Three sections, updating the latest research findings of Frost & Sullivan, awarding best practices, and A-share market news. (Only partial screenshots, details can be found on the official website) 👉 www.frostchina.com)   Industries   As a global growth consulting firm, Frost & Sullivan has 62 years of consulting experience. Frost & Sullivan's research covers thirteen sectors including finance, automotive, chemicals, pharmaceuticals, mining, education, and consumer goods, as well as their vertical sub-sectors. Through this section, you can visualize the services, strengths, and past service cases provided by Frost & Sullivan for each industry.   Services   Frost & Sullivan specializes in global capital markets and corporate consulting services, providing comprehensive investment and financing as well as various other professional consulting services for enterprises, including due diligence services, valuation services, assessment services, strategic consulting, management consulting, planning consulting, technical consulting, financial consulting, industry consulting, etc.   In this section, you can gain an in-depth understanding of the main work content of each service and the achievements of Frost & Sullivan. (Only partial screenshots, details can be found on the official website) 👉 www.frostchina.com)   Media Center   Enter the Media Center to stay updated on the latest company news and media interviews with Frost & Sullivan. (Only partial screenshots, details can be found on the official website) 👉 www.frostchina.com)   About Us   2023 marks the 62nd anniversary of Frost & Sullivan's global establishment and the 25th anniversary of entering the Chinese market. In this section, you can learn about the company's introduction, management team, and strategic partners in Greater China. (Only partial screenshots, details can be found on the official website) 👉 www.frostchina.com)   Join Us   Frost & Sullivan provides one-stop comprehensive consulting and data services to clients through nearly 50 offices located in major global capital markets, approximately 3,000 consultants and analysts, as well as seven offices in Greater China with about 500 consulting and research team members.   We welcome all elites who graduated from top universities at home and abroad, possess rich industry research experience, and have a rigorous work attitude. (Only partial screenshots, details can be found on the official website) 👉 www.frostchina.com)   Contact Us   Since entering China in 1998, Frost & Sullivan has established offices in Beijing, Shanghai, Hong Kong, Shenzhen, Nanjing, Chengdu, and Taipei in Greater China.   In this section, you can directly obtain the addresses and contact information of each branch of Frost & Sullivan in Greater China. New and old customers are welcome to come for cooperation and negotiation.   The content on the official website of 'Frost & Sullivan' will continue to be updated Everyone is welcome to follow us! 🔍  www.frostchina.com

In March, the much-anticipated reform plan for State Council institutions was officially released, proposing six important measures including the establishment of a National Financial Supervision and Administration Commission. As the integration of modern technology with the financial industry becomes increasingly high, this reform plan highlights the country's ability and determination to prevent and resolve risks, as well as to improve digital transformation and upgrading. For financial institutions that have weathered the pandemic, digital transformation is facing challenges such as accelerating international and domestic technological iterations, economic dual circulation stimulation, domestic compliance operations, regulatory scrutiny, and the increasingly prominent contradiction between changing financial demands and long software development cycles. They urgently need to adapt to the situation, tailor their strategies to local conditions, address current pain points, and maintain a sustainable development pace. This also means that the application and growth space of fintech is still very broad, with enormous market potential. 3 month 23 day Insight Organizing Committee in Partnership 400 Leaders from mainstream financial institutions and outstanding technology representatives empowering the financial industry held their annual Insight Summit in Beijing. The summit focused on 'Insight, Influence, Integration, and Innovation,' and discussed topics such as the new global fintech regulatory trends, 'Revitalizing the Banking and Securities Industry with Technology,' 'Striving at the forefront of insurance technology to revitalize the industry,' and delved into industry hotspots to strengthen exchanges and cooperation within the sector.   Frost & Sullivan Frost & Sullivan Cui Nan, Executive Director of Frost & Sullivan Greater China, was invited to attend the event and delivered a speech on the future development trends of financial new technologies. Executive Director, Greater China, Frost & Sullivan Cui Nan Cui Nan stated that the financial industry is the 'goldmine' in the field of digital transformation. 2017 Year-end 2022 In the year, the added value of the financial industry was 6.5 trillion yuan, increasing to 9.7 trillion yuan, and every 1% The improvement of output efficiency will bring 970 Yi-billion added value. In recent years, the financial industry IT The expenditure scale is growing steadily. Driven by factors such as customer 'digitization', increasing demand, technological progress, and favorable policies, it is expected that by 2026 Total annual expenditure will exceed 3,800 100 million yuan.   "The digital transformation of the financial industry has unique advantages," Cui Nan further explained, such as in the financial industry IT The infrastructure is complete, with a large amount of data accumulated in business systems and a high degree of standardization. Moreover, due to factors such as high industry concentration and average volume, the industry has a strong awareness of digital transformation and the ability to conduct digital transformation payments. Currently, emerging digital technologies in the financial field include artificial intelligence, blockchain, cloud services, big data, and the Internet of Things. Cui Nan focused on analyzing the market development status of these three areas: artificial intelligence, cloud services, and big data. According to a study by Frost & Sullivan, the market scale of China's artificial intelligence market is 2017 Renminbi in [year] 545 RMB billion growth to 2021 Renminbi in [year] 2,603 Yuan, with an average annual compound growth rate of 48% In the future, it will maintain stable growth, with an expected 2026 In [year], its market size will grow to RMB 17,504 yuan, 2021 Year to 2026 The annual average compound growth rate reaches 46% . Cui Nan pointed out that the new generation of artificial intelligence is gradually upgrading from perceptual intelligence to cognitive intelligence.   Perceptual intelligence refers to the ability of computers and different devices to possess human-like perceptual abilities such as vision, hearing, and touch. By structuring and processing multi-source heterogeneous data and communicating with humans through these means, cognitive intelligence draws inspiration from brain-like research and cognitive science on top of perceptual intelligence. It combines technologies such as cross-domain knowledge graphs to endow computers and different devices with human-like thinking and cognitive capabilities. From a technical perspective, computers have evolved from simple rule-based judgments at the beginning to statistical machine learning, and then further to deep learning. Different neural network algorithms enable robots to recognize data such as text, images, and sounds. Pre-trained models achieve the goal of learning with few samples through transfer learning and enhance their application capabilities in various complex scenarios by integrating with knowledge bases from different industries. Among them, large-scale pre-trained language models LLM Based on Tramsformer The model, along with a vast amount of online corpora, can acquire knowledge from massive datasets to achieve capabilities such as recognition, summarization, translation, prediction, and text generation. UGC , PGC Then there is a brand-new content production model — AIGC .   future AIGC The market has broad development space. The market scale of cloud services in China is 2017 Renminbi in [year] 860 RMB billion growth to 2021 Renminbi in [year] 2,933 Yuan, with an average annual compound growth rate of 36% , is expected to arrive 2026 In [year], this number will grow to RMB 9,042 100 million yuan. Take the banking industry as an example.   Cloud-related technologies are the most important investment direction for digital transformation in banking. In the past two years, approximately 80% Related to cloud computing, according to the 'Banking Industry Cloud Adoption Survey Report' by Bank of China, the application of financial clouds in Chinese banking mostly remains at the operational level, accounting for nearly 40% ,   It is less applied in higher-level and more important areas such as data governance, risk control, and technology research and development. In the future, with policy requirements for risk control, data security protection, disaster recovery, etc., high-level applications related to research and development, data, and risk control will increase. The market scale of big data in China is 2017 Renminbi in [year] 412 RMB billion growth to 2021 Renminbi in [year] 849 Yuan, with an average annual compound growth rate of 20% , is expected to arrive 2026 In [year], the market size will grow to RMB 2,195 yuan, 2021 Year to 2026 The annual average compound growth rate reaches 21% . Cui Nan stated that solutions based on traditional databases or big data architectures often face challenges such as lack of scalability, data silos, data integrity, and data governance, making it difficult to meet the increasingly flexible needs of data analysis. However, the data cloud (Data Cloud) The service is built on a cloud-native architecture, which, compared to   Data cloud services offer advantages such as driving business with data, ensuring data uniqueness and usability, flexibility brought by data sharing, activating untapped data value, benefiting from multi-cloud strategies, and low deployment and management costs. They can solve the problems of data silos and high-cost data management that are difficult to address with traditional database architectures and big data architectures, maximizing user convenience in accessing, sharing data, and mining data value. Data shows that banks with a higher proportion of technology investment grow faster, while those with an insufficient proportion see less growth. 3% The average annual compound revenue growth rate of banks over the past decade was 10.2% , and the proportion of investment exceeds 4% The bank's annual compound revenue growth rate over the past decade has exceeded 11% Digital transformation has led to a significant 'Matthew Effect' across the entire industry.   "In the future, the application of new financial technologies will shift from addition to multiplication, from superposition to integration, further empowering the digital transformation and upgrading of the financial industry." said Cui Nan.

On March 19th, the Gujia Home WinFresh Refresh Technology and New Asian Games Mattress Release Conference was successfully held in Ningbo. At the conference, focusing on the current national sleep situation in the post-pandemic era, the 'Healthy Living in the Post-Pandemic Era: Technology Deep Sleep White Paper' (hereinafter referred to as the 'Report') was released and interpreted.   The 2023 'Healthy Living in the Post-Pandemic Era: A Tech-Savvy White Paper' (hereinafter referred to as the 'Report') was jointly released by Frost & Sullivan (Frost & Sullivan, abbreviated as 'Frost & Sullivan'), in collaboration with Gujia Mattresses, the Chinese Sleep Research Society, JD Health, BrainCo, a leading brain technology professional institution, and top enterprises. The report delves into four major chapters: In-Depth Sleep IASA, namely National Sleep Insights, National Behavior Analysis, Sleep Solutions, and Social Advocacy Calls. It aims to provide beneficial information and data on sleep for the Chinese people through a tech-savvy, rational, and professional analytical perspective and sleep solutions.   Zhou Mingzi, Consulting Director of Frost & Sullivan Greater China, was invited to attend the event. At the press conference, she provided an in-depth interpretation of the report and hosted and participated in the themed forum 'Deep Sleep in Technology Leads to a New Ecosystem in the Sleep Industry'. Together with industry experts such as Wang Yong, Deputy General Manager of the Mattress Product Business Unit at Gujia Home Furnishings, Zou Chuan, Assistant General Manager of the Jiangsu-Zhejiang Marketing Business Unit at Gujia Home Furnishings, Yuan Xiangshan, Deputy Secretary-General of the Chinese Sleep Research Society, Liu Haoran, Strategic Development Director of BrainCo, and Professor Lu Yehu from Soochow University, we discussed the value of deep sleep technology. Zhou Mingzi, Consulting Director of Frost & Sullivan Greater China   Zhou Mingzi pointed out that in the post-pandemic era, people at home and abroad are paying increasing attention to sleep issues, and everyone is the primary responsible person for their own health.   According to a Frost & Sullivan user survey, the average sleep duration of Chinese residents is only 6.8 hours, with nearly one-fifth of respondents reporting an average sleep duration of less than 6 hours. Approximately 44% of the population has an average or insufficient sleep market. Among them, individuals aged 18-24 have the longest sleep duration, while service industry workers have the shortest average sleep duration. In terms of sleep quality, over 80% of Chinese people suffer from sleep problems, with light sleep being the primary issue for most respondents.   The sleep cycle of humans consists of the wakefulness period, light sleep period, moderate to deep sleep period, deep sleep period, and rapid eye movement sleep period. To improve sleep quality, it ultimately depends on the duration of deep sleep. According to BrainCo's popular science on brain technology, the cerebrospinal fluid inside the brain can clear neurotoxic substances produced by brain metabolism during sleep. For example, beta-amyloid, which causes Alzheimer's disease, can effectively prevent damage to brain cells and make one more energetic when waking up the next day.   According to JD Health's relevant data, the number of consultation orders related to sleep on JD Health has exceeded 7 million, a year-on-year increase of 40%. Insufficient sleep has become a 'epidemic' in contemporary times. Topics such as 'sleep', 'insomnia', and 'improving sleep' have received extensive attention and discussion on social media platforms, indicating that 'sleep' has long been a national concern. Source: Analysis by Frost & Sullivan   In response to the current sleep situation of the nation, most citizens have launched a sleep-saving campaign. Help improve sleep through four major dimensions: a healthy lifestyle, good sleep habits, a comfortable sleeping environment, and effective sleep aids.   According to consumer research data, consumer-oriented sleep solutions are the mainstream means of self-help with sleep, accounting for 52.1% of total consumers. Younger consumers are more willing to pay for sleep, with the range of 1,000-4,999 yuan being the most affordable amount for them. This shows that people are not only willing to spend money on good sleep but also willing to spend a lot of it. The increase in price ranges is due, on one hand, to consumers' strong desire to improve their sleep, and on the other hand, it also indicates that consumers have higher requirements for sleep aids. They are more rational in terms of sleep aid concepts, product design, and scientific principles, and pay more attention to the functionality and safety of healthy sleep products.   According to the purchase category statistics, sleep products with strong technological attributes are more popular among consumers, with about 83.4% of respondents choosing home technology products as their main choice for improving sleep.   Zhou Mingzi then briefly analyzed the current situation of technology sleep solutions. Among many sleep improvement products, sleep aid pillows and mattresses, sleep aid fragrances, sleep monitoring apps, and sleep aid beverages enjoy a higher acceptance among consumers.   Technology products are closely related to consumers' sleep environment and experience, with mattresses being the preferred product category. For mattress-based sleep aids, consumers value the comfort, breathability, and spine support and waist-boosting functions of the mattress; among experiential technology products, sleep aid scents are particularly favored. Sleep aid scents are favored by consumers for their ability to help them fall asleep quickly, maintain sleep continuity, and improve sleep quality. Sleep apps, which use digital means to collect and visualize human sleep data, are also popular among consumers.   Data shows that among those who have purchased a fitness tracker, 75% believe that wearing it is effective for sleep; among those who have purchased or used a sleep monitoring app, 61.5% believe that the app is effective for sleep monitoring. Source: Analysis by Frost & Sullivan   It is worth mentioning that the intelligent sleep aid and stress relief solution has also become a new trend. The principle is based on hardware, with the intelligent head-mounted device integrating EEG brainwave detection and PPG optical heart rate monitoring. It can synchronously collect triple physiological dimensions of brainwaves, heart rate, and blood oxygen. Through biofeedback meditation, it achieves brainwave frequency reduction - beta > alpha > theta (sleeping) > delta (deep sleep), thereby assisting in falling asleep and improving sleep quality. On the software side, artificial intelligence algorithms quantify brain state into multiple dimensions such as mindfulness index, calmness, and awareness, assisting with sleep guidance and high-quality meditation music to relieve stress and aid sleep.   Zhou Mingzi stated that in recent years, consumers have become more concerned about sleep quality, and everyone hopes to be their own 'health champion'. Health cannot be achieved without everyone's effort. In life, reasonable sleep and exercise habits not only consolidate one's health but also make life and career better.   At the end of the white paper, Frost & Sullivan, together with many industry authorities, calls for advocacy that for businesses, good sleep is never an individual matter but the result of collective efforts by home furnishing companies, technology firms, sleep institutions, and other stakeholders. Whether it is a home furnishing company or a health sleep technology company, as industry leaders, everyone is committed to exploring deep sleep technologies and developing product performance, using better technological products to improve the lives of the nation, and empowering national deep sleep health with better technological concepts. The combined efforts of these high-quality companies will jointly push national health to a new level.    

Emerging Technologies Future Analysis Cloud Lecture Hall 3 month 16 On the day of April 10th, the ninth lecture of the 'Emerging Technologies Future Analysis Cloud Lecture Hall', co-hosted by the Emerging Technologies Future Analysis and Management Special Committee of the Chinese Enterprise Management Research Society and organized by the Technology Foreseeing Professional Committee of the Chinese Science and Technology Policy Research Society, was successfully held.   Frost & Sullivan Frost & Sullivan Dr. Wang Xin, Global Partner and President of Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), was invited to be the keynote speaker for this event, delivering a presentation titled 'The Current Situation and Outlook of the Global Digital Health Industry'. 01   Background related to the digital health industry Dr. Wang Xin pointed out that the world's population has now reached 80 Yi, which refers to the total population in the mid-20th century 3.2 times. Among them, China and India are populous countries in the world, with both having populations exceeding 10 Yi, the combined population proportion of the two countries reaches 35.7% .   Urbanization development, improved medical standards, and gradually extended human lifespan are driving rapid population growth worldwide. It is estimated that by 2050 In [Year], the world's population will reach 97 billion. In terms of age structure, the number and proportion of the world's elderly population are gradually increasing. 2019 The world's elderly population reached 7 1000 million, accounting for 9.6% , 2022 The world's elderly population reached 8 1000, accounting for 10.0% , expected to be reached by 2050 In that year, the world's elderly population reached 15 1000, accounting for 16% Among them, the aging rate in developing countries is increasing significantly. Taking China as an example, the proportion of the elderly population in China has changed from 2016 year 10.9% Grew to 2021 year 14.2% , with an annual compound growth rate of 5.6% The degree of population aging exceeds the world average.   Population aging is an inevitable trend in world population development, and the demand side in the future has higher requirements for medical and health services in terms of quantity and quality. 02   Current Situation of the Digital Health Industry   Dr. Wang Xin stated that in terms of market size, the global healthcare market has been showing a steady growth trend in recent years.   , 2015 Year-end 2021 In the year, the global healthcare market size grew from 7.3 Trillions of dollars grow to 9.5 trillion dollars, with an annual compound growth rate of 4.4% , is expected to arrive 2030 The annual market scale reaches 13.7 trillion dollars 2021 Year-end 2030 The annual compound growth rate for 4.2% . 2015 Year-end 2021 In [year], the market scale of healthcare in China grew from 4.1 trillion yuan grew to 7.6 trillion yuan, with an annual compound growth rate of 10.7% , is expected to arrive 2030 The annual market scale reaches 16.7 Ten thousand yuan, 2021 Year-end 2030 The annual compound growth rate for 9.2% Due to the stage of industrial development, the Chinese market has seen a significant growth rate, with its share of the global market 2015 year 8.2% Upgrade to 2021 year 11.6% It is in a period of rapid growth.   The global healthcare market is showing a steady growth trend, and its development has become mature. Currently, the global healthcare industry has become one of the world's largest pillar industries, accounting for approximately GDP of 1/10 It will become an important engine driving global economic development. Dr. Wang Xin believes that the traditional healthcare industry faces issues such as uneven distribution of medical resources, low management efficiency, high medical costs, low quality of healthcare services, cumbersome patient care processes, and the leakage of medical privacy.   The digital health industry not only breaks the traditional medical system structure, but also enables market participants such as patients, hospitals, and doctors within the healthcare system to communicate information through digital means and online platforms. This enhances the efficiency and quality of medical services, as well as the efficiency in pharmaceutical research and development, medical diagnosis, health management, and other aspects. It provides solutions for various scenarios of healthcare needs. For example, the digital health industry can achieve the sharing and optimized allocation of medical resources through remote healthcare, mobile healthcare, and other methods, making medical resources more equitably distributed. It can also meet the medical needs of patients in remote areas and those with special diseases, providing a solution to the problem of uneven distribution of medical resources in traditional healthcare industries. Digital health is an interdisciplinary concept that combines medical health with modern digital technology. It integrates modern digital technology into the field of medical health, digitizing the entire healthcare process through the generation, collection, analysis, and application of big data in healthcare. This achieves dynamic linkage among all parties involved in healthcare, thereby providing patients with convenient, efficient, and intelligent healthcare services and management, and bringing new value to all parties involved in the healthcare industry.   Digital technology has promoted development and model transformation in the field of healthcare, endowing digital health with three core values: equity and accessibility, precision and effectiveness, and efficiency improvement.   Dr. Wang Xin further stated,   The content covered by digital health mainly includes six aspects: digital medicine, digital diagnosis and treatment, digital enterprise services, digital health management, digital health platforms, and digital insurance. With the deepening of digital applications in healthcare, the digital health industry will better meet the multi-level and diverse healthcare needs in the future.     Dr. Wang Xin pointed out that, looking at the development trajectory of digital health, over the past three years, the global COVID-19 pandemic has challenged the world's health systems and is undergoing profound changes in the global health sector.   AI The development of digitization has driven the transformation of traditional healthcare industries. In the 'post-pandemic era', the application of digital health technologies to strengthen healthcare systems and vigorously develop the digital health industry has become a consensus among countries around the world.   With the rapid development of digital technology, the world is in an era of information explosion, and the integration of digital technology with healthcare has gradually become mainstream.   In recent years, the World Health Organization has issued several global strategies related to the digital health industry, such as 2019 In 2019, the World Health Organization released the Global Strategy on Digital Health 2020 - 2024 for the first time clarified the definition of digital health, officially called on countries around the world to actively formulate national-level digital health construction transformation plans, and 2020 In 2019, the 'Guidelines on Strengthening the Application of Digital Technologies in the Health System' and the 'Draft Global Strategy for Digital Health Care' were released 2020 - 2025 In [year], guidelines were provided for the digital health construction of various countries, and a series of promotion strategies and measures were proposed. Looking at the national level, countries around the world have formulated different development policies for the digital health industry based on their own economic development and digital healthcare technology levels. For example 2016 In the United States 21 The Century Cure Act proposes to develop combined products of health software and mobile medical applications, providing clearer and consistent reasonable regulatory norms; several strategies encourage and regulate the 'interconnection' of healthcare data; 2021 The European Digital Agenda for the Decade 2030 ) actively promote digital construction, improve the electronic health records of all citizens, and ensure that every citizen can obtain medical and health services or healthcare under a secure online environment; 2022 In 2018, the UK's 'Data Saves Lives: Reimagining Health and Social Care with Data' policy proposed a national healthcare data strategy, covering multiple aspects such as enhancing trust in healthcare data systems, collecting medical information, and providing decision support with healthcare data.   Dr. Wang Xin stated that, in terms of common development policy characteristics, all development policies share the same development goal, which is to deeply integrate digital and healthcare, resulting in 1+1>2 The role is to deeply mine and widely apply data on the basis of eliminating data barriers and constructing a medical big data system, thereby promoting the healthy development of national healthcare.   At the same time, Dr. Wang Xin also pointed out that the digital health industry is 2022 A globally co- attention the hot area. In terms of the distribution of investment hotspots, countries with high investment enthusiasm themselves possess a good digital foundation, and a country's digital health investment boom can radiate and drive the development of the digital health industry in neighboring countries, thereby promoting the vigorous development of the global digital health industry. 2022 In 2021, the five countries with the most healthcare financing events globally were the United States, China, the United Kingdom, Israel, and India. Among them, Israel and India have risen as healthcare innovation forces in Asia. Especially, the enthusiasm for healthcare financing in Israel and India has surged significantly, making them one of the five hotspots. Like India, digitization is also an important factor contributing to healthcare innovation in Israel. 2022 In 1,257 Matters related to financing, 440.0 US$10 billion in financing leads the world, closely followed by China; both China and the US account for the total financing of all countries 75.0% financing event 81.0% .   Looking at single financing events,   The average financing amount per deal in the United States is 0.35 Billions of dollars, ranking first. As a leading country in digital health, it can be seen that the digital health industry in the United States is highly active and proactive in the capital market, which will further fuel the development of the industry. Although the average financing amount per deal in China is only 0.13 The economy is worth hundreds of billions, but with continuously strengthened technological innovation and rising international competitiveness, more investment opportunities will emerge in the high-quality development of China's economy. The capital market development prospects for China's digital health industry are long-term positive. "The digital health industry encompasses numerous sub-industries, mainly including intelligent software and hardware supporting digitization, platform providers, and participants from the traditional healthcare sector. Existing healthcare enterprises have formed an inseparable connection with digital health. "Dr. Wang Xin said."   Subsequently, Dr. Wang Xin further introduced the digital health market situation. The data shows that 2020 The global digital health market size is 965.0 billions, expected 2021 year -2028 Year will be 15.1 Compound annual growth rate of % increases.    The scale of the digital health market is continuously growing, mainly driven by population aging, an increase in chronic diseases, the popularization of mobile internet, AI Driven by multiple factors such as the application of big data technology and policy support, these factors provide a broad development space and opportunities for the digital health market:   1 Population aging As the global trend of population aging continues to intensify, the demand for medical services from the elderly is also growing. Digital health technologies can help the elderly access medical services more conveniently, such as telemedicine and intelligent health monitoring. According to data from the US Census Bureau, it is estimated that by 2050 Year, global 65 The population aged 65 and above will account for 16% than 2018 year 11% There has been a clear increase, which will further drive the development of the digital health market.   2 Increase in chronic diseases With the change in lifestyle and the aggravation of environmental pollution, the incidence of chronic diseases is constantly rising. Digital health technologies can help patients better manage and control their diseases, such as through intelligent monitoring and telemedicine. According to data from the World Health Organization, the number of chronic disease patients worldwide will continue to increase in the coming decades. 2030 Will reach in 5.6 hundreds of millions.   3 The popularization of mobile internet The popularization of mobile internet has provided favorable conditions for the development of the digital health market. More and more people are using smartphones and other mobile devices to obtain medical information, manage their health, and receive healthcare services. According to eMarketer data 2019 The global smartphone penetration rate is about 55.7% The smartphone penetration rates in Singapore, South Korea, and other economically developed countries have reached 88.9% and 88.4% , India and other countries are expected to reach 63.3% and 39.0% The increase in smartphone users in emerging markets will drive the growth of the digital health market.   4 The application of artificial intelligence and big data technologies The application of artificial intelligence and big data technologies has brought more opportunities and challenges to the digital health market. These technologies can help medical institutions and patients better manage and analyze medical data, thereby improving the quality and efficiency of healthcare services.     5 Policy support Government support and regulation are crucial for the development of the digital health market. An increasing number of governments and regulatory bodies are beginning to formulate relevant policies and regulations to promote the development of the digital health market and protect the rights and interests of patients. For example, in the United States FDA Several digital health products and services have been approved, bringing a favorable development environment to the digital health market. 03   Digital health industry sub-sectors   Dr. Wang Xin further elaborated on the promising niche segments in the digital health market.     First is medical informatization, which is also a focal point in the digital health sector. It includes hospital core management systems, data centers, electronic medical records, HIS The system consists of inspection information systems, emerging medical informatization systems, etc. In terms of market scale, the US market is mature and developed. 2016 Year-end 2021 In [year], the market scale of healthcare informatization in the United States was from 107.1 USD billion growth to 129.7 billion US dollars, with an annual compound growth rate of 3.9% , is expected to arrive 2025 The annual market scale reaches 147.6 billion dollars 2021 Year-end 2025 The annual compound growth rate for 3.3% The US healthcare information market has matured, with a relatively concentrated market share and an oligopoly situation. The top three companies are Epic Games , Cerner and Meditech , its 2019 The combined annual market share is close to 70% ranked first Epic Games Market share exceeds 30% . 2022 year 6 Month, Oracle Bone Script Company 283 $100 million price to complete the acquisition Cerner The acquisition involves one of the world's largest software providers and another leading company in the US healthcare information industry. This epic merger reflects the international giants' future layout for the digital health industry.   Compared with the US market, the Chinese market is in a period of rapid development. 2016 Year-end 2021 In [year], the market scale of China's medical informatization industry grew from 67.5 RMB billion growth to 175.9 Yuan, with an annual compound growth rate of 21.1% , is expected to arrive 2025 The annual market scale reaches 474.3 yuan, 2021 Year-end 2025 The annual compound growth rate for 28.1% . In comparison, the market concentration in the Chinese market is relatively low, and there are no truly leading enterprises.   There are many reasons for this result. Cognitive limitations, product form, and other factors have constrained the 'growth and strengthening' of Chinese healthcare information technology enterprises. Currently, leading companies have achieved economies of scale in basic information construction such as medical record systems, forcing emerging companies to focus on developing new systems. This has also made emerging smart system products one of the hot topics in the primary market.   Dr. Wang Xin pointed out that the global healthcare informatization market has great development potential, with broad prospects for innovative applications in the new generation of healthcare informatization. Cloud computing, big data, and artificial intelligence technologies are gradually integrating into clinical medical practice, and cloud computing platforms will become the focus of industry growth.   It supports the application of artificial intelligence technology, virtual reality, robotics, and other technologies in various fields such as telemedicine, remote surgery, integration of healthcare and elderly care, drug research and development, and health management, ultimately promoting the intelligentization of healthcare services.   Next is digital therapeutics, which has seen rapid development alongside the digital health market, with global digital therapeutics DTx The market scale is also constantly climbing. 2020 In [year], the global digital therapy market size was 35.0 billions, expected 2028 The annual market scale increased to 191.0 billion dollars 2020 - 2028 The annual compound annual growth rate will reach 23.6 %. With the increasing popularity of mobile internet, the demand for healthcare cost control continues to grow. The incidence of chronic diseases and mental health disorders is gradually climbing. Coupled with the COVID-19 pandemic, which has fundamentally changed people's attitude towards healthcare intervention software, the global digital therapy industry has entered a fast development phase amidst the interweaving of various factors. Currently, many countries and regions still lack a comprehensive understanding of digital therapeutics. Coupled with concerns about patient data privacy, the market growth for digital therapeutics may be limited. However, in the long run, this represents high-growth potential in unexploited markets, which will bring key profit opportunities to digital therapeutics companies.   Dr. Wang Xin stated that the digital therapy market is still in its early stages of development globally, and digital therapy companies with evidence-based digital interventions will drive market growth.   For example, 'game prescription drugs' Akili Interactive Labs Psychological digital therapy Pear Therapeutics Digital therapeutics for smoking cessation CureApp Digital Therapy for Cancer Patient Health Management Vine Health And based on AI Developer of multi-domain digital therapy solutions on the platform GAIA wait.   Although digital therapeutics are emerging medical approaches to improve clinical outcomes, the commercialization of digital therapy products still faces challenges due to the lack of payer reimbursement pathways that match their value.   Currently, the main digital therapy business models globally include in-hospital prescriptions, corporate employer offers, insurance payments, pharmaceutical company offers, and user self-payment.    And can be combined in a diversified manner. Digital therapy companies typically start with a business focus on a specific payment channel, and only after gaining market acceptance do they expand into other areas. For example, digital therapy providers for chronic disease management Dario Health In the early stages, the service was directly delivered to users through software and achieved success. In the later development phase, service examples and data support were provided by expanding models such as enterprise employer payments and commercial insurance premiums.   Against the backdrop of higher demands for digital healthcare solutions, it is essential for both payers and digital therapeutics companies to explore potential payment options. "Dr. Wang Xin said."   Furthermore, Dr. Wang Xin analyzed AI Drug R&D track.    In recent years, driven by capital, the world AI A development boom has swept through the field of drug research and development. From the perspective of the primary market, AI The total financing for drug research and development is from 2014 year 2.2 USD billion growth to 2020 year 18.4 billions, compound growth rate 42.5% From the perspective of corporate financing rounds, 2015 The proportion of enterprises with seed round as their annual financing round is 51 %, whereas 2020 In FY2019, this proportion dropped to 30 %, whereas B wheel C There are more and more financing round events.   The main reason is AI The integration trend in the drug R&D industry is evident, with some AI Entrepreneurial companies have achieved a substantial lead in resources and technology and developed accordingly, while lagging companies are forced to focus on the early service-oriented areas of drug discovery, which further hinders their development. From the perspective of the secondary market, globally AI The pharmaceutical R&D industry has made significant breakthroughs in the capital market, with substantial advantage companies moving towards listing. This further strengthens the confidence of both capital and entrepreneurs, which is conducive to promoting further market development.   Finally, there is the remote medical device track.    As an interdisciplinary field involving multiple industries such as medical devices, information and communication, and healthcare, the development and application of remote medical devices play a leading role in driving the in-depth development of related industries such as medical imaging, medical robots, and remote monitoring. Countries around the world have introduced policies to encourage the development of remote medical devices. In terms of market size, the global remote medical device market is continuously climbing, especially in the two sub-sectors of medical imaging and surgical robots.   First, medical imaging equipment.    Globally, medical imaging devices with diagnostic or therapeutic guidance capabilities have been widely used, and the industry has matured. 2015 Year-end 2021 In [year], the global market size of medical imaging equipment was 365 USD billion growth to 447 billions, with an annual compound growth rate of 3.4% , is expected to arrive 2027 The annual market scale reaches 567 billion US dollars 2021 Year-end 2027 The annual compound growth rate for 4% In the future, the medical imaging equipment track will be in 5G , AI Digital transformation is being driven forward through technologies such as cloud services.   Second, surgical robots.    Surgical robots differ from the medical imaging equipment market, as the market volume is not yet large enough to form a scale, and the industry has shown a rapid development trend in recent years. 2015 Year to 2021 In [year], the global surgical robot market size was 30 USD billion growth to 118 billions, with an annual compound growth rate of 25.6% , is expected to arrive 2027 The annual market scale reaches 403 billion dollars 2021 Year-end 2027 The annual compound growth rate for 22.7% .   In the field of minimally invasive surgery, products that use surgical robots to assist humans in precise control of medical devices have advantages such as reducing surgical wounds, high precision, and low learning and promotion difficulty. In the future, the key development point of the industry will be the revolution brought about by the popularization of surgical robots, which will transform surgical operations and develop towards precision medicine, telemedicine, and smart healthcare.   accompany 5G , AI With the development of cloud services and other technologies, the transmission speed of large volumes of data and the level of real-time high-definition video remote interaction have rapidly improved. This has resolved industry pain points such as latency in information transmission and low quality of information file transfers. In the future, the global remote medical device industry will grow rapidly. 04   Frost & Sullivan and LeadLeo empower the digital health industry Finally, Dr. Wang Xin introduced:   " 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 For decades, Frost & Sullivan has been playing the role of a bridge connecting China's digital health market with the global capital markets. In the past five years, it has assisted many digital health companies in listing on Hong Kong and US capital markets. Frost & Sullivan is an important client and partner for these domestic and overseas listed companies.   Relying on the global think tank resources of Frost & Sullivan and its cross-industry business development platform in Greater China, the Frost & Sullivan Greater China office has unique core strengths in investment and financing as well as strategic development support services for the digital health industry.   Frost & Sullivan can assist enterprises in writing in-depth articles and industry white papers, as well as conducting multi-channel dissemination. For example, Frost & Sullivan recently plans to jointly release 'Hong Kong Stock 18A 2023 The white paper "Biotechnology Industry Development" aims to provide 18A Biotechnology service providers IR/PR Platform. Moreover, it can also help shareholders of companies planning to go public or those that have already listed, capital market intermediaries, and market investors gain a more comprehensive and in-depth understanding 18A The biotechnology sector provides breakthrough ideas for investment and financing in related capital markets. In the future,    TradeGo, together with Frost & Sullivan's LeadLeo Research Institute and cloud technology, will continue to provide customers with comprehensive and high-quality services. As an important witness and participant in the development of the global and Chinese economic landscape, we will always place a strong emphasis on China and look forward to the future development of its industries.     "  

In recent years, as offline channels have gradually shrunk, e-commerce channels have become an important driving force for industry growth. With changes in channels and consumer demand, traditional beauty brands are facing the need to update their products and operational models to adapt to the times and seek performance growth. What are the main reasons for the differentiation among traditional beauty brands during the transformation process? What are the key factors in rejuvenating traditional brands? With the recovery of offline consumption, what changes will it bring to the beauty industry? Will it impact e-commerce channels? Traditional beauty brands that have not successfully completed their transformation are still trying to open up new prospects through online transformation. Is there still a chance? What new difficulties may they face? Liu Danni, Executive Director of Frost & Sullivan Greater China, was interviewed by Bullet Finance View to discuss the future development direction of traditional beauty brands. Bullet Finance View   During the process of rejuvenating traditional brands, there has been a clear differentiation. Some brands, such as P&L, have more efficiently updated their brands and occupied a larger market share, while brands like Mary Kay and Shanghai Cosmetics are facing difficulties in scale and profitability. What are the main reasons for the differentiation among traditional beauty brands during the transformation process and what are the key factors in rejuvenating traditional brands? Liu Danni Executive Director of Frost & Sullivan Greater China   In the past two decades, China's beauty industry has developed rapidly, with changes in channels, marketing, and product upgrades intertwined. Moreover, with the continuous influx of industry participants and competitors both domestically and internationally, competition has become fierce. Additionally, traditional brands have been impacted by foreign big brands and emerging brands. During the transformation process of traditional brands, many brands failed to seize new opportunities and keep up with the times, relying solely on high marketing investment rather than continuous product research and development to occupy the market, ultimately falling into many difficulties during the transformation process.   The key factors in rejuvenating traditional brands mainly include the following three:   1) Continuously developing innovative products: The Chinese cosmetics industry has moved from channel-driven and marketing-driven to product-driven. Traditional brands must continuously develop new products to remain youthful during the transformation process. Nowadays, most local brands have stable sales and growth through online, offline, or WeChat business channels, accumulating a certain amount of capital strength. They are gradually entering the stage of establishing their own R&D teams/laboratories/own factories, or further increasing R&D investment, thereby continuously developing new products to occupy the market.   2) Continuously innovating product appearance: Today, the younger generation, especially Generation Z, plays an important role in consumer markets such as beauty. For them, appearance is justice, and they are willing to pursue things related to high appearance. This has also made the "appearance economy" popular among the young generation in the new era, with many high-profile beauty products being sought after. Therefore, some traditional beauty brands might as well be more creative in product appearance updates, bringing a different visual experience to the young consumer group.   3) Empowering with technology: Technology is changing people's consumption patterns and behaviors. Traditional beauty brands can also seize this key point of technological innovation, using technology to empower transformation, continuously providing consumers with a more "intelligent" beauty experience, so as to gain more consumer favor during the transformation process. For example, at the 3rd Import Expo, Estée Lauder Group launched two major black technologies: an expert-level skin diagnostic instrument and an Aveda professional scalp hair quality detector; at the same time, the group's makeup brand M&M's launched a 3D technology customization service; the group's Clinique also demonstrated its intelligent skin diagnostic system.   With the optimization of epidemic control, offline channels will gradually release new vitality. In 2023, with the recovery of offline consumption, what changes will it bring to the beauty industry? Will it impact e-commerce channels?   In 2023, with the recovery of offline consumption, it mainly brings two aspects of changes to the beauty industry:   The first development direction is: offline beauty stores are committed to expanding new marketing methods to attract more consumer groups.   In the post-pandemic era, the operation of offline stores will gradually recover, and the competition for traffic among online brands is becoming increasingly fierce. Against this backdrop, many beauty brands are expanding new marketing methods through offline stores to attract more consumer groups. Only by visiting the store offline can consumers experience "five senses and six perceptions," which is currently an experience that cannot be replaced by online shopping. For example, in December 2022, the first global flagship store “Unbounded Red Pavilion” opened by Amore Beauty at the Shenzhen Zhuoyue Center attracted many consumers to check it out through the store inspired by art, technology, modernity, and nature, as well as the constantly changing digital exterior walls outside the flagship store.   The second development direction is: more and more beauty brands are opening stores in important business districts to enhance their image.   In the future, more beauty brands will open stores in important business districts such as the core business districts of first- and second-tier cities, which is also a reflection of the brand's high-end image. Especially some trendy beauty brands that have developed online need to demonstrate the diversification of their brands through high-end transformation to enhance their overall competitiveness.   New trendy beauty brands that started online have always been labeled as offering discounts and low prices. If these brands can open stores in city center business districts like Shanghai's O'Reilly Department Store and Beijing's Sanlitun, they can not only prove their strength and status in the beauty industry but also facilitate high-end transformation for the brand in the future.   The recovery of offline consumption may cause a temporary impact on e-commerce channels, but in the long run, the important position of e-commerce channels will not be shaken. According to data from the National Bureau of Statistics, in 2022, the national online retail sales reached 1,3785.3 billion yuan, a year-on-year increase of 4%. Among them, the online retail sales of physical goods reached 1,1964.2 billion yuan, a year-on-year increase of 6.2%, accounting for 27.2% of the total social consumer goods retail sales, setting a new historical high and an increase of 2.7% compared with the previous year. In the future, the penetration rate of e-commerce in total social retail consumption will continue to rise, expected to approach 30% in 2023.   With the disappearance of e-commerce dividends, brands are increasingly aware of the importance of relying on their own efforts to obtain internal traffic growth. Getting rid of over-reliance on top platforms has become a common problem faced by beauty enterprises. In this process, will there be a new round of differentiation? In your opinion, are there any specific signs or indicators? In the long run, for a brand to achieve greater success, it still needs to be self-reliant and strong. If a brand is overly dependent on the dividends of a certain top platform, it is doomed not to go far. Therefore, instead of being exhausted chasing dividends, it is better to cultivate internal strength and truly let products generate word-of-mouth and bring their own traffic.   Today, many beauty brands have already realized this problem and are constantly improving product word-of-mouth. For example, the carved lipstick of the beauty brand Hua Xi Zi has broken the traditional lipstick style, integrating Eastern craftsmanship into cosmetics to form a unique perception, allowing consumers to experience its product characteristics and quickly remember it, thus forming a good word-of-mouth among consumers.   In this new background, traditional beauty brands that have not successfully completed their transformation are still trying to open up new prospects through online transformation. Is there still a chance? What new difficulties may they face?   Currently, the cost of competing for traffic online is getting higher and higher, with live streaming seat fees rising, but the average order price is getting lower and lower, thus cutting into the brand's profits. With the increasingly fierce competition among various online live streaming platforms, in this price competition environment, the quality and personality of online operations are often easily overlooked.   In this context, for some traditional beauty brands that have not successfully transformed, it cannot be simply assumed that opening an online store or hiring a KOL for live streaming can complete online transformation. Instead, it is necessary to quickly provide consumers with more efficient and personalized services through online channels.   For example, the beauty brand Perfect Diary has created a brand character “Xiao Wanzi” and provides various services for consumers by adding their WeChat accounts and establishing WeChat groups. Having a character IP that consumers generally trust makes online service more efficient and faster. In addition, some beauty brands even set up online skin testing services to provide consumers with faster personalized customization services. *This interview was published in Bullet Finance View, with reporter Hu Fangjie. The original title was 'Three Changes of Management and Ten Years of Decline: What Did Shanghai Cosmetics Do Wrong?' (Click on 'Read Full Article' at the end of the article to read the complete report).

3 month 10 - 12 day, the 60 The China International Beauty Expo and the 4th International Medical and Health Expo were held in Guangzhou, China. During the same period, the 2nd Global Assisted Reproduction Exchange Conference was successfully organized. With the theme of 'Insight into the Future & Business Empowerment & Shared Opportunities', experts and scholars in the industry, reproductive peers, and heads of global reproductive institutions were invited to discuss policy trends and market prospects with the audience at the event, contributing to the accelerated development of the assisted reproductive industry.   Frost & Sullivan Frost & Sullivan Liu Weiqi, Director of Healthcare Industry Consulting for Greater China at Frost & Sullivan (referred to as 'Frost & Sullivan'), was invited to attend the conference and delivered a keynote speech titled 'Assisted Reproductive Technologies at the Forefront, Drawing a Market Blueprint for the Reproductive Health Testing Industry'. He also provided an in-depth interpretation of the 'White Paper on the Current Industry Situation and Future Development of China's Assisted Reproductive Industry'. Frost & Sullivan's Healthcare Industry Consulting Director for Greater China Liu Weiqi According to Liu Weiqi,   In vitro fertilization technology IVF ) is currently the most effective assisted reproductive technology for treating infertility or genetic problems. Its core technology has undergone three development iterations and has now evolved to   Preimplantation genetic testing PGT )     Genetic testing can be conducted on embryos before implantation to screen for healthy embryos for transplantation, thereby reducing genetic risks. 很抱歉，我还未学习到如何回答这个问题的内容，暂时无法提供相关信息。 The assisted reproductive industry is composed of a series of participants centered around assisted reproductive technology, which can be divided into upstream and downstream segments. The upstream includes reproductive health testing, while the downstream involves the implementation of assisted reproductive treatments. Source: Frost & Sullivan report Liu Weiqi stated that the supply and demand in the assisted reproductive industry are currently uneven, and there is an urgent need for the development of assisted reproductive technology. From the demand side,   The number of births in China has declined for four consecutive years, the prevalence of infertility continues to rise, and the number of infertile couples is increasing year by year. 2021 Year achieved 5,230 ten thousand pairs;   From the supply side,   There is a serious regional imbalance in the overall distribution of national assisted reproductive institutions, and the number of institutions approved to carry out third-generation assisted reproduction is small. As of 2021 year 12 month 31 day, only 78 The home medical institution has been approved to carry out the third-generation technology with qualifications PGT . Source: Frost & Sullivan report But from a policy perspective,   2001 Since the beginning of this year, regulatory oversight in the assisted reproductive industry has become more standardized. The National Healthcare Security Administration has gradually included some assisted reproductive technology projects within the scope of medical insurance fund payments. Favorable policies are expected to benefit the development of the assisted reproductive industry. Source: Frost & Sullivan report Liu Weiqi pointed out that, driven by multiple factors such as the continuous increase in China's demand for assisted reproduction and technological improvements, the gap in the penetration rate of assisted reproductive technology between China and developed countries is gradually narrowing. Moreover, due to the huge patient population in the Chinese market, the overall number of people receiving assisted reproduction is still higher than that in the United States and Europe. At the same time, since there is still room for growth in China's penetration rate, it can be seen that the market potential of this industry is enormous. Source: Frost & Sullivan report Subsequently, Liu Weiqi briefly analyzed the reproductive health testing industry. The main current reproductive health monitoring items include ultrasound examinations and fetal magnetic resonance imaging. MRI Serum endocrine hormone testing, genetic testing, and chromosome karyotype testing, etc. According to Frost & Sullivan research,   Traditional reproductive health testing technologies in China are less precise. However, with continuous technological iteration, reproductive health testing has become digital and intelligent, with efficiency continuously improving. In the future, chromosome testing and genetic testing technologies are expected to be further popularized. Source: Frost & Sullivan report Liu Weiqi stated that reproductive health testing is of great significance not only for individuals and families planning to conceive but also for the entire society (the entire working-age population).   The potential market for reproductive health testing includes not only the examination and treatment of infertile patients but also extends to routine testing for reproductive health and genetic risks among the entire reproductive age population. The market prospects for reproductive health testing in China are broad. Source: Frost & Sullivan report "At the same time, favorable industry policies, continuous improvement in assisted reproductive technology, localization of the industrial chain, and increased patient willingness to pay will boost the further development of the reproductive health testing industry," said Liu Weiqi. Recommended Reading ↓↓Long-press to scan the QR code below to obtain ↓↓ About Frost & Sullivan's Healthcare Practice The Healthcare Practice of Frost & Sullivan has professional analytical capabilities and extensive project experience in the life sciences. 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 and 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.

Unleash the Value of Research and Create a Brighter Future Together     On March 2nd, the donation ceremony of Frost & Sullivanx's Disease Challenge Foundation was successfully held in Shanghai. Dr. Wang Xin, Global Partner and President of Frost & Sullivan Greater China, Mao Hua, Partner and Managing Director of Frost & Sullivan Greater China, Wang Yigou, Founder and Vice Chairman of the Disease Challenge Foundation, and Ma Tao, Secretary-General of the Disease Challenge Foundation, along with their respective teams, attended the donation ceremony.   At the donation ceremony, Dr. Wang Xin, on behalf of Frost & Sullivan (referred to as 'Frost & Sullivan'), donated 100,000 RMB to the Beijing Disease Challenge Public Welfare Foundation (referred to as 'Disease Challenge Foundation', abbreviated as 'ICF') to jointly promote the prevention and treatment of rare diseases in China and light up the lives of patients with rare diseases.   As a globally renowned growth consulting company, Frost & Sullivan has always been committed to growth and giving back to society over the past sixty years. Therefore, Frost & Sullivan has always regarded engaging in public welfare as an important part of its social responsibility.   Dr. Wang Xin, Global Partner and President of Frost & Sullivan Greater China, said: 'Frost & Sullivan's corporate mission is to make the world a better place through growth. Corporate growth and social responsibility complement each other and are both our foundation for existence. Since last year, Frost & Sullivan has started cooperation with the Disease Challenge Foundation, providing public with industry observation reports on rare diseases and returning the research income from these reports to the foundation to serve with knowledge, doing our best to help more patients with rare diseases. We also hope that this can help capital markets and investment institutions, as well as more enterprises and individuals, understand and pay attention to the field of rare diseases and this special group. Paying attention to the rare disease group is a responsibility of the whole society. This is a very meaningful thing, and it is also a research topic that our company attaches great importance to and will invest in for a long time.'   Wang Yigou, Founder and Vice Chairman of the Disease Challenge Foundation, said: 'The mission of ICF is to focus on patients, empower them, innovate, and connect relevant parties to jointly solve the urgent problems faced by the rare disease group. As a public welfare platform in the field of rare diseases, ICF has been jointly writing industry trend observation reports on rare diseases with Frost & Sullivan for two years. We hope that through the action, thinking, and observation insights of the foundation serving patients on the front line, combined with Frost & Sullivan's professional ability in industry analysis, we can jointly record and present changes in the field of rare diseases. In the future, ICF hopes to continue working hand in hand with Frost & Sullivan to jointly solve the urgent problems faced by the rare disease group and also provide more valuable industry reports for partners from all walks of life who are committed to improving the living conditions of the rare disease group.' In the process of jointly releasing the '2023 China Rare Disease Industry Trend Observation Report' this year, the experts of the foundation provided comprehensive guidance for report writing. Frost & Sullivan hopes that both sides can work together to build each year's rare disease industry observation report into a high-level 'anniversary volume' of the rare disease industry, using their influence and platform resources to speak out for rare diseases.   In the future, Frost & Sullivan sincerely looks forward to paying attention to and jointly ensuring with all sectors of society to strive for helping the rare disease group have colorful lives. Frost & Sullivan will contribute to the development and maturity of China's rare disease industry through its rich industry experience, maintain long-term and in-depth cooperation with institutions such as the Disease Challenge Foundation; continue to be committed to research in the field of rare diseases, actively practice its social responsibility, and continuously contribute to the construction of 'Healthy China 2030'.

3 month 7 day -8 Today, CITIC Securities “New Pharmaceutical Cycle, Spring Brings Bountiful Blossoms” 2023 The annual Healthcare Industry Spring Strategy Conference was successfully held in Shanghai. This strategy conference focused on industry trends and hotspots such as the domestic independent and controllable pharmaceutical supply chain, major healthcare infrastructure and innovative medical devices, the harvest period of high-quality generic and branded drugs in China, post-pandemic recovery and epidemic prevention innovation. It invited many entrepreneurs or executives from related listed companies, industry experts and scholars, as well as seasoned investors, aiming to jointly discuss and look ahead to how to grasp the core asset layout direction in the new cycle era of the pharmaceutical industry. Frost & Sullivan Frost & Sullivan Mao Hua, Partner and Managing Director of Frost & Sullivan's Greater China Region, was invited to attend the event and delivered a keynote speech on "Development Trends and Technological Evolution in the Innovative Medicines Industry". Mao Hua pointed out, monoclonal antibodies, bispecific antibodies, ADC Large molecule drugs such as antibody fusion proteins have become an important area in new drug research and development. Clinical trials of innovative therapies represented by cell therapy, gene therapy, nucleic acid drugs, and oncolytic viruses continue to increase, accounting for an increasingly higher proportion in the clinical development of new drugs. Recently 3 The annual proportion has reached 3.8% . However, at the same time, due to China's weak basic medical research capabilities, the lack of historical accumulation in new drug development, the immaturity of the industrial chain, and the lag in regulatory oversight, there has been a clustering of new drug R&D activities in China. This has led to serious homogenization and, to some extent, has caused a waste of resources.   "By developing new targets, avoiding target overcrowding, iterating and upgrading R&D technologies, and   Transforming drug development strategies and other methods to create differentiated product pipelines is the key for pharmaceutical companies to break through in fierce competition." Mao Hua said.   Subsequently, Mao Hua briefly analyzed the development trends of the innovative drug industry. He stated that the innovative drug industry will exhibit the following three development trends: 1 The domestic market is shifting towards overseas markets; 2 ) Biotech reach Biopharma company The transformation; 3 ) in License reach License-out of the Mainland Transformation. 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 and actively explore international market territories.   Data shows that in the past five years, the number of clinical trials conducted overseas by Chinese pharmaceutical companies has generally shown an increasing trend. 2021 The number of companies making overseas clinical trial plans for the year 2018 The annual growth is about double.    As Chinese pharmaceutical companies continue to strengthen their strategic deployment in overseas markets and compete to conduct overseas clinical trials, the overseas market will become an important driving force for corporate growth in the future. On the other hand, driven by factors such as desire to drive growth, industrial environmental impact, good market prospects, and continuously improving commercial capabilities, more and more Biotech The company has embarked on Biopharma company The path to progress.   Hong Kong Stock Market 18A Revenue generated since the launch of the fifth batch of STAR Market listings Biotech The number is increasing year by year.    at present 57 Home-listed Biotech middle, 2022 year H1 Existing 4 The home stock successfully turned losses into profits “and turned red-hot in Hong Kong shares” 18A And the fifth sector of science, technology and innovation Biotech The profitability is strengthening. In addition, as the domestic innovation drug ecosystem gradually takes shape, biotech companies are continuously 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 Capable of helping enterprises reduce R&D risks, expand sales reach, and optimize cash flow, China License-out of the Mainland The trading volume has remained high in recent years.   Mao Hua pointed out that in the future, pharmaceutical companies can continuously optimize License-out of the Mainland Strategy, opening up broader global markets to help enterprises achieve value growth. 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, strategic consulting, etc. We also cooperate with well-known domestic and international information platforms and investment and financing institutions to offer one-stop solutions for enterprises in specialized sub-fields such as pharmaceuticals and medical devices. Our services have received wide attention from investors.