11 month 13 On [date], the 'Chinese Clinical Practice Guidelines for Hypertension', jointly formulated by academic institutions such as the National Cardiovascular Disease Center, Chinese Medical Doctor Association, and Cardiovascular Disease Branch of the Chinese Medical Association ( hereinafter referred to as the 'Guidelines' ) Officially promulgated, in which the diagnostic criteria for hypertension are changed from ≥ 140/90 mmHg Decreased to ≥ 130/80 mmHg .   What impacts and changes are expected to be brought about by the release of the new version of the 'Guide'? What is the current development status of related industries in China such as antihypertensive drugs and medical devices? Frost & Sullivan Frost & Sullivan Liu Weiqi, Executive Director of Healthcare Industry in Greater China at Frost & Sullivan (referred to as 'Frost & Sullivan'), was interviewed by Modern Express to discuss the impact of the lowered diagnostic criteria for hypertension. Modern Express 11 month 13 On [date], the 'Chinese Clinical Practice Guidelines for Hypertension', jointly formulated by academic institutions such as the National Cardiovascular Disease Center, Chinese Medical Doctor Association, and Cardiovascular Disease Branch of the Chinese Medical Association ( hereinafter referred to as the 'Guidelines' ) Officially promulgated, in which the diagnostic criteria for hypertension are changed from ≥ 140/90 mmHg Decreased to ≥ 130/80 mmHg What impact will this standard cut-down have on related pharmaceutical and healthcare companies? 11 month 14 day A The pharmaceutical and healthcare sector has risen sharply, with Yuyue Medical and Kefu Medical, which deal with products such as sphygmomanometers, seeing significant price increases. Companies involved in antihypertensive drugs such as Gibelle, Tianyu Shares, and Xinlite have also seen substantial gains. However, some listed companies have stated that the impact of the lowered hypertension diagnostic criteria is difficult to predict in the short term and requires time to observe. " A "surge" in hypertension patients? With the lowering of hypertension diagnostic criteria, it means 130/80 mmHg to 140/90 mmHg The population in the interval will be transferred from 'normal hypertension high-risk' to hypertensive population, potentially leading to a significant increase in the number of hypertensive patients. Reports indicate that the team led by Sun Yingxian, director of the Department of Cardiology at the First Affiliated Hospital of China Medical University, calculated this by combining the China Health and Nutrition Survey (CHNS) of 2011 Annual data, based on the new standard, estimate that the number of hypertensive adults in China reaches 6.13 hundreds of millions, and complies 2010 The number of people using the China National Guidelines Standard in 2.68 bn. This means that under the new standard, there may be a “new addition” 3 More than 100 million hypertensive patients. Does this mean that the use of antihypertensive drugs will increase significantly? Liu Weiqi, Executive Director of the Healthcare Team at Frost & Sullivan Greater China, told Modern Express that after the standard change, there will be a significant increase in the number of patients diagnosed with hypertension. With the popularization of concepts such as health management and early treatment, sub-healthy individuals will pay more attention to their own health conditions and may stimulate these new patients to start taking medication. For major pharmaceutical companies, this group of people will be the target demographic that can make up for reduced revenue after the price cuts in centralized procurement. Liu Weiqi introduced that the main hypertension medications include calcium antagonists and renin inhibitors. - Angiotensin - Aldosterone system inhibitors, adrenergic receptor blockers, compound antihypertensive drugs, diuretics, sympathomimetic inhibitors 6 Class, with a huge market scale, nearly one hundred billion yuan before centralized procurement. However, as the list of eligible suppliers expands, the overall market has shrunk but has already rebounded and is growing slowly. Major manufacturers include Pfizer, Novartis, Shijiazhuang Pharmaceutical, China Resources, etc. Currently, surgical treatment for hypertension is still in its early stages, and renal artery denervation ( RDN ) may become a new technology for the treatment of hypertension patients, but its effectiveness, safety, applicable population, and long-term health benefits still require longer-term clinical research and confirmation. Previously, Frost & Sullivan's data predicted the Chinese antihypertensive drug market 2022 Will reach in 1149 RMB 1000 million. Released by LeadLeo Research Institute, ' 2021 The 'Overview of the Chinese Primary Hypertension Treatment Drug Industry in 2019' shows that approximately 95 % of hypertension cases are essential hypertension, which requires long-term medication for treatment. 2013 - 2019 In China, the average annual compound growth rate of the primary hypertension drug market size reached 11.7 %, 2019 Annual scale reaches 840.8 Yuan. In the future, the market scale of primary hypertension drugs in China will continue to expand, but the growth rate will slow down, with an estimated to 2026 The annual market scale reached nearly 1547.01 100 million yuan. "High blood pressure is not only the most prevalent chronic disease but also the leading risk factor for cardiovascular and cerebrovascular diseases. In fact, some countries around the world have already lowered the diagnostic threshold for hypertension." 140/90 mmHg reduced to 130/80 mmHg "The relevant person in charge of the Yuwell Medical Sphygmomanometer said, 'The release of China's new version of the 'Guidelines' means that clinical practice is placing more emphasis on blood pressure management, advocating for moving the hypertension prevention line forward, intensifying antihypertensive treatment, simplifying cardiovascular risk stratification, and paying attention to the screening for secondary hypertension.' " Multiple listed companies responded △ Business revenue of Tianyu's antihypertensive active pharmaceutical ingredients and intermediates According to Tonghuashun find 11 month 14 day A The pharmaceutical sector as a whole rose, with sub-sectors such as traditional Chinese medicine, pharmaceutical commerce, and COVID-19 drugs all seeing significant increases. The stock prices of related listed companies involved in antihypertensive drugs and sphygmomanometers also soared. Kefu Medical saw a significant increase. 14% Jibei soared 13.19% Fish Leap Medical hit the daily limit up, while Tianyu Shares rose 8.67% However, the relevant companies have stated that it is difficult to determine the direct cause of the stock price increase. A Among listed companies, companies such as Yuyue Medical, Kefu Medical, Jiuan Medical, and Lexin Medical all have blood pressure monitors related products. Data from this year's Double Eleven show that Yuyue Medical's blood pressure monitors ranked first in sales volume among blood pressure monitor products on both Tmall and JD.com. 2022 The semi-annual report for the year indicates that in recent years, the awareness rate, treatment rate, and control rate of hypertension among Chinese residents have significantly improved. However, there is still a considerable gap compared to developed market countries. The continuous increase in the prevalence of hypertension and the awareness of blood pressure testing is driving the continuous expansion of market demand, and the prospects for related businesses are broad. "After the cut-off value is lowered, there will be two impacts: for ordinary people, they may pay more attention to family blood pressure monitoring and management; for the industry, the demand for smart blood pressure monitors will increase. Since blood pressure is directly proportional to age, with the cut-off value lowered, the age group of hypertensive patients will also decrease, meaning that more young and middle-aged people need blood pressure testing, and these groups tend to use application "Mini programs and smart devices are used for blood pressure management," said a relevant person in charge of the Yuyue Medical Blood Pressure Monitor to Modern Express reporters. The semi-annual report shows that in the first half of this year, Yuwell Medical's household electronic testing and in vitro diagnostic products achieved revenue of approximately 8.1 Yuan, a year-on-year increase 7.38% gross profit margin 47.13% . Involving antihypertensive drugs A The listed companies mainly include Gibelle, Xinlite, Tianyu Pharmaceutical Co., Ltd., Huahai Medicine, Hengrui Medicine, etc. Among them, Tianyu Pharmaceutical Co., Ltd. is one of the world's largest producers of raw materials and intermediates for angiotensin II receptor blockers (ARBs), with the most complete variety. ARB drugs have a thorough antihypertensive effect, few side effects, long-lasting efficacy, and can be used in combination with other ARBs. They have currently become the most widely used drugs for treating hypertension. Tianyu Pharmaceutical Co., Ltd. currently has production capabilities for various raw materials and intermediates for anti-hypertensive drugs such as valsartan, irbesartan, losartan potassium, candesartan cilexetil, and olmesartan medoxomil. In the first half of this year, Tianyu Co., Ltd. achieved revenue 14.74 Yuan, a year-on-year increase 7.81% Among them, the revenue from antihypertensive bulk drugs and intermediates reached 10.98 Yuan, a year-on-year increase 15.76% Yang Peng, the company's securities representative, told Modern Express reporters that in the short term, the lowering of hypertension diagnostic criteria will not have any impact on the company, but in the long run, it is definitely a positive development. One of the main products of Jiangsu-listed company Jibelle, nitrendipine tablets, is the first class I compound antihypertensive drug in China, used for treating mild to moderate essential hypertension. Company officials told reporters that they have also noticed reports about the lowering of hypertension diagnostic criteria, but at present, the impact on the company and the industry is still inconclusive and requires further observation over time. However, for antihypertensive drugs like nitrendipine tablets, the company is further intensifying market promotion efforts.   * This article is reprinted from Modern Express.   Reporter: Gu Wei   Original title:    Finance Bolex | Hypertension "threshold" lowered, several listed companies responded    ">

//     2022 year 11 month 18 Today, the results of EY's inaugural 'Sustainable Development Officers of Listed Companies Summit and Annual Best Awards' were grandly announced. The event took place this year 2 Launched in the month, it has received widespread attention from all sectors of society and has received applications from all walks of life for candidacy. After extensive analysis by an independent judging committee and careful selection, a total of 10 Enterprises, 3 Individuals and 12 The practice case was awarded the 'EY Sustainability Annual Best Award' 2022 "Outstanding enterprises, individuals, and excellent cases have gathered at today's summit forums in Beijing and Shanghai." Frost & Sullivan Frost & Sullivan Dr. Wang Xin, Global Partner and President of Greater China at Frost & Sullivan (referred to as 'Frost & Sullivan'), was invited by the independent judging panel to attend the award ceremony. He presented awards to outstanding enterprise winners Shanghai Electric Co., Ltd. and New Natural Gas Co., Ltd., as well as to representative enterprises of 'Social Action Leadership' excellence cases. Chen Kai, Chairman of EY China and Chief Executive Officer of Greater China, said: "In addressing challenges such as climate change and public health, innovative technologies have demonstrated tremendous value and potential. As an important entity in technological innovation, companies increasing investment in research and development and accelerating the application of innovation are not only an important opportunity to reconstruct industrial and value chains and build future competitiveness, but also provide new opportunities and pathways to solve environmental and social problems. At the same time, by continuously innovating financial products and services and expanding the application scenarios of green finance, we have also seen financial institutions providing strong support for the green and low-carbon transformation of the economy and society.     The inaugural 'Sustainable Development Officials of Listed Companies Summit and Annual Best Awards Selection' is an innovative exploration by EY to promote sustainable development across various industries. The comprehensive, objective, professional, and fair evaluation by the independent judges presents us with the latest explorations and achievements of Chinese enterprises and industry experts on the path to high-quality sustainable development.   In the future, EY will pool the wisdom and strength of all parties to support more Chinese enterprises in integrating high-quality sustainable development concepts into their strategies and management, achieving a win-win situation for economic, environmental, and social benefits. This will contribute to advancing Chinese-style modernization and realizing high-quality development."   The theme of this event is "Creating Long-Term Value, Painting a Credible Future".   The selection aims to widely discover and lead pioneering models that drive sustainable development in China. Focusing on major national strategies such as green development, rural revitalization, and common prosperity, it refers to the latest global sustainable development assessment systems. ESG Criteria, taking into account business, social, and technical impacts, ultimately select the annual outstanding enterprises, individuals, and excellent cases through an independent judging committee. The outstanding enterprises and individuals selected this time come from a wide range of fields, covering multiple industries including energy, construction, finance, machinery, catering, transportation, and technology. They were evaluated from three dimensions: social action leadership, technological innovation progress, and financial empowerment. 12 An excellent case. This fully demonstrates that the concept of green development is blossoming everywhere, and the path to green transformation is steadily advancing towards a long-term goal. Dr. Wang Xin presented awards to Shanghai Electric Group Co., Ltd. Dr. Wang Xin presented awards to New Energy Natural Gas Co., Ltd. Dr. Wang Xin presented awards to the outstanding case representative enterprises of Social Action Leadership On the day of the event, EY held a session titled 'How Listed Companies Respond ESG Two roundtable discussions are held: "Challenging the Opportunities & Seizing the Momentum" and "Carbon Markets and Green Finance to Boost the Dual Carbon Process." Representatives from government departments, regulatory bodies, industry organizations, academic research institutions, and leading enterprises in the industry are invited to exchange ideas and spark discussions on topics such as the opportunities and challenges of transformation and development across various industries, as well as how to use technology, finance, and other means to promote green and sustainable development.   As a global growth consulting firm, Frost & Sullivan brings together the world. 61 years of consulting experience, 24 Over the past year, we have dedicated ourselves to serving the booming Chinese market. With a global perspective, we help clients accelerate their business growth, enabling them to achieve growth, innovation, and leading benchmarks in the industry. Dr. Wang Xin stated that he is delighted to be named an 'EY Sustainability Annual Best Award'. 2022 "The judges of the independent judging panel witnessed these    The emergence of outstanding enterprises, individuals, and cases that have made remarkable contributions and played a leading role.   Dr. Wang Xin pointed out, ESG Investment is an investment philosophy that focuses on the environment, society, and governance. It is an important lever for the comprehensive green transformation of China's economic and social development. As a new type of investment philosophy and criterion, ESG It has great value for the economic development of enterprises, society, and the country.   At the same time, he said that China has infinite potential in the field of green finance and will become a major global player. ESG One of the markets, globally ESG The market plays an important role, and it is expected that globally in the future ESG The investment scale will continue to grow, especially in China. ESG The investment scale will experience explosive growth. Frost & Sullivan has been continuously paying attention to green investment and has produced a large number of forward-looking reports on green industries, guiding investors to focus on China's green sector.   "Green venture capital is an important lever for China to implement its carbon neutrality goals. Carbon neutrality accelerates the significant transformation of our energy sector, improves our ecological environment, and enhances the quality of life. Frost & Sullivan will continue to pay attention to carbon neutrality and fully support the country in achieving its carbon neutrality targets," said Dr. Wang Xin.   In the future, Frost & Sullivan looks forward to continuing its partnership with EY.    The 'Sustainable Development Officer Summit Forum of Listed Companies and the Annual Best Awards Selection' always adheres to the principles of professionalism, rigor, objectivity, and fairness. It is committed to serving the high-quality development of the country, supporting more enterprises on their journey towards sustainable development, and jointly creating long-term value for the country and society, while building a trustworthy and sustainable beautiful business world.   "EY's Sustainability Annual Award 2022 "List of Winners (in no particular order of ranking)"   Special Jury Prize ► Guodian Power Development Co., Ltd. ► Bank of China Co., Ltd.     Outstanding Enterprise ► Guodian Power Development Co., Ltd. ► Shanghai Electric Group Co., Ltd. ► Dalian-Qinhuangdao Railway Co., Ltd. ► Sumitomo Corporation ► Anhui Conch Cement Co., Ltd. ► Geely Automobile Holdings Limited ► Dayu Water Conservation Group Co., Ltd. ► Xin'ao Natural Gas Co., Ltd. ► Jinko Energy Co., Ltd. ► Happy Valley Group Co., Ltd.   Outstanding Individual ► Ma Jun, Dean of the Beijing Institute of Green Finance and Sustainable Development ► Fu Jianguo, Deputy General Manager and Senior Engineer of Baoshan Iron & Steel Co., Ltd. ► Xue Keking, Secretary of the Board of Directors of China State Construction Engineering Corporation   Excellent Cases ► Social action leadership China Architecture & Design & Research Group Co., Ltd. - "Qingliu Plan" Green Carbon Supply Chain Construction Initiative Alibaba Group Holding Limited — Driving Ecosystem Carbon Reduction 88 Carbon Account ” Project Tencent Holdings Limited - Carbon Neutrality Path and Practices WanGuo Data Holdings Co., Ltd. - Carbon Neutrality Strategic Planning Jinyu Biotechnology Co., Ltd. — Corporate Responsibility in the Prevention and Control of Zoonotic Diseases ► Technological innovation and progress Baoshan Iron and Steel Co., Ltd. - Implementation of the "Dual Carbon" Strategy SAIC-GM-Wuling Motor Co., Ltd. - Wuling New Energy Builds a Digital Low-Carbon Car Lifestyle Zhejiang Hailiang Co., Ltd. — Research on Precision Copper Tube Low-Carbon Intelligent Manufacturing Technology and Equipment Tianhe Renewable Energy Co., Ltd. — Zhejiang Huzhou Tianhe Renewable Energy 21MW 600W+ Distributed Photovoltaic Zero-Carbon Factory Project   ► Finance converges to empower Bank of China Co., Ltd. - Supporting Biodiversity Conservation for the Beijing Winter Olympics and Promoting a Green Winter Olympics Industrial and Commercial Bank of China Co., Ltd. — Green Finance Practice Case Postal Savings Bank of China Co., Ltd. - Innovating the Layout of Personal Carbon Accounts Empowering Carbon Inclusive Development through Technology   Independent Review Board Members   ►  (Founder Member of the Independent Review Board) Wang Zhan Sir   Chairperson of the Shanghai Federation of Social Sciences,    Vice President of the China Economic System Reform Research Association,    Executive Director of the China International Economic Exchange Center ►  (President of the Independent Evaluation Committee) Jiao Jie professor Professor at the Department of Innovation and Entrepreneurship and Strategy, School of Economics and Management, Tsinghua University   Dean of the State-owned Assets Management Research Institute at Tsinghua University,    Director of the China Industrial Development Research Center, School of Economics and Management, Tsinghua University ► Yu Xingxi Sir Secretary-General of the Beijing Listed Companies Association ► medvern Sir General Manager of Beijing Green Exchange (formerly Beijing Environment Exchange) ► Lu Yuebing doctor Climate Capital Group Chairman ► king listen   doctor Global Partner and President of Frost & Sullivan Greater China Region ► Chao Yi Army Sir Partner of Hankun Law Firm ► Liu Senlin Sir Managing Director of CICC Capital Group photo of independent judging panel members

11 month 16 day -18 day, 2022 The annual (ninth) Global Bio-Diesel Conference was held in Yangzhou, Jiangsu Province. The conference attracted participants from the bio-diesel, glycerin, UCO , UCOME , FAME The Global Bio-Diesel Industry Summit is a high-level conference for senior management personnel in the fields of animal fats and oils, plasticizers, sustainable aviation fuels, biodiesel waste oil, enzyme preparations, technology equipment providers, and raw material suppliers.   Frost & Sullivan Frost & Sullivan Xu Biao, Executive Director of Frost & Sullivan Greater China, was invited to attend the event and delivered a speech on the current status of China's biodiesel industry.   Executive Director, Greater China, Frost & Sullivan Xu Biao According to Xu Biao, the main raw materials for biodiesel production globally include vegetable oils, animal fats, waste fats, and microbial oils. Due to different resource endowments in different regions around the world, raw materials are diverse. Among the main raw materials for biodiesel, waste edible oils ( UCO Waste edible oil methyl ester produced UCOME The carbon emission reduction effect of ( ) is the most obvious. Therefore, countries around the world are increasingly emphasizing the use of biodiesel made from waste oils and fats due to considerations of food security, carbon emissions reduction, and environmental protection. China's biodiesel raw material is mainly waste oils and fats, and it is also a core supplier of such materials.   As a major consumer of catering, China has huge potential for waste grease supply. In the future, its output is expected to continue to increase, driving the growth of biodiesel production in China. It is estimated that China's biodiesel production will 2021 approximately 20 Yi Sheng, gradually upgraded to 2030 nearly 60 100 million liters. China's biodiesel exports are mainly to Europe, and it has become an important trading partner for biodiesel in the EU. The EU is the world's largest biodiesel consumer market, accounting for approximately 40% Biodiesel consumption. According to the EU in 2022 year 6 The latest document of the revised Renewable Energy Directive passed by the European Parliament in [month], which sets a new target for renewable energy's share of transport energy, replacing the original 14% Significantly increased to nearly 30% ,   To achieve the new renewable energy target share, EU biodiesel consumption is expected to continue growing at a high rate in the future. China's biodiesel export market will also continue to benefit, with exports expected to 2021 year 12.6 YilSheng, upgraded to 2030 Year-over-year 40 YiSheng, with an annual compound growth rate of 14.3% . Xu Biao said that at this stage, China's biodiesel domestic market is still in its cultivation phase. The relevant policies introduced do not have mandatory blending requirements. Compared with traditional petrochemical diesel, biodiesel lacks competitiveness in terms of cost and quality. In comparison with regions with high biodiesel consumption such as the EU, the US, Brazil, and Indonesia, China The country's incentive policies and related regulations still need to be improved urgently to further open up the domestic consumer market.   It is worth noting that, under the guidance of the long-term development goals of carbon peak and carbon neutrality, the biodiesel industry is expected to welcome new policy momentum during the '14th Five-Year Plan' period.     Biodiesel is mainly used as a power fuel and as a raw material or intermediate in the chemical industry. Globally, biodiesel is primarily used as a power fuel, while in China, it is mainly used for the production and processing of green chemicals.   According to a Frost & Sullivan study, in the current Chinese power fuel sector, the promotion of relevant policies is limited. As a result, the penetration rate of biodiesel as a fuel source is low, accounting for less than 30% It is expected that driven by the dual favorable factors of 'top-level design' and 'local pilots', the terminal sales channels for biodiesel for fuel use in China are likely to continue to improve, and the consumption of biodiesel for fuel use will rapidly increase.   Subsequently, Xu Biao introduced in detail the main downstream derivatives and by-products of biodiesel in China. He pointed out that biodiesel is essentially a mixture of lower esters of multiple fatty acids. In addition to being used directly as fuel, it can also be used to produce various derivatives, including bio-ester plasticizers, environmentally friendly alkyd resins, surfactants, etc. Compared with traditional chemical preparation processes of these traditional types, its derivatives have many advantages such as environmental friendliness, stability, and less corrosiveness to containers, and have broad application prospects. In addition, crude glycerol, a major by-product during the production of biodiesel, can also be further refined and applied in industrial fields such as cosmetics, food, and medicine. ·          Biodegradable ester plasticizer Plasticizers are widely used in industrial production, enhancing the properties of polymer materials and improving their plasticity and softness. They are mainly used in packaging materials, leather, toys, automotive parts, and other large quantities of plastic products. Traditional plasticizers have strong volatility and pose a risk of seeping into plastic products, which can disrupt the human endocrine system, reproductive system, etc. Bioester plasticizers are a new type of plasticizer that is non-toxic, environmentally friendly, and biodegradable, processed from bio-based materials. They can effectively reduce the harm of traditional plasticizers to humans and the environment and alleviate dependence on petroleum resources. The raw materials for bioester plasticizers are widely available and harmless to humans and the environment. In the future, with increased environmental supervision and continuous development of green and environmentally friendly plasticizer products, there is huge potential for growth in the consumption of bioester plasticizers.   2017 Year-end 2021 In the year, the consumption of bioester plasticizers 20.4 Ten thousand tons grew to 43.8 10,000 tons, with an annual compound growth rate during this period 21.0% , is expected to arrive 2030 Year-on-year growth 95.7 10,000 tons 2022 Year to 2030 The compound annual growth rate will reach 9.3% . ·          Environmentally friendly alkyd resin   Alkyd resin is one of the most widely used polyester resins in the coating industry. Its performance is related to the type of oil, molecular structure, and molecular weight. Alkyd resins can be divided into environmentally friendly alkyd resins and traditional alkyd resins.   Environmentally friendly alkyd resins use water or emulsifiers as solvents and are mainly used as film-forming bases in the coating industry. While retaining the advantages of traditional alkyd resins, they enhance the fast drying, water resistance, and corrosion resistance of coatings. Moreover, their low volatility significantly reduces the harm to humans and the environment. With the increasingly strict national environmental protection policies, reducing volatile organic compounds released into the atmosphere and protecting human health have become particularly important. The development of low-pollution alkyd resins is becoming increasingly crucial. The proportion of environmentally friendly alkyd resins such as water-based alkyd resins and solvent-free alkyd resins will continue to rise.   The consumption of environmentally friendly alkyd resins is expected to further decrease from 2022 year 58.2 Ten thousand tons grew to 2030 year 115.9 10,000 tons, with an annual compound growth rate during this period 9.0% . ·          Crude glycerol Industrial glycerin mainly includes refined glycerin obtained from the further processing of crude glycerin, a by-product in biodiesel production, as well as refined glycerin synthesized from petrochemical products. Produced during the biodiesel production process 10% The by-product crude glycerin, compared to the industrially synthesized industrial glycerin, is more environmentally friendly when further processed into industrial glycerin during biodiesel production. At the same time, the effective utilization of industrial glycerin can improve the raw material utilization rate of biodiesel, reduce resource waste, and further enhance the profitability of biodiesel production enterprises. Industrial glycerin falls under the category of refined glycerin. The main downstream application areas of refined glycerin in China include epichlorohydrin, polyether, pharmaceuticals and cosmetics, and others.   2017 - 2021 In China, the demand for refined glycerol in 39.9 Ten thousand tons grew to 75.2 10,000 tons, with an annual compound growth rate of 17.2% estimated 2030 Will reach in 203.3 10,000 tons 2021 - 2030 Annual compound growth rate for the year 11.7% .   "   China's biodiesel industry chain is still in the stage of continuous improvement. The production capacity of major manufacturers is steadily expanding, and at the same time, each link in the industry chain contains multiple development opportunities.     Xu Biao further explained that, from the perspective of the upstream industrial chain, the supply pattern of main raw materials such as waste grease is still relatively loose. With the acceleration of industry standardization in recent years, large-scale waste grease disposal and resource utilization enterprises are expected to achieve rapid development; looking at midstream producers, China's biodiesel industry has formed a competitive group including outstanding new energy companies like New Energy Biofuels, Hainan New Energy Science & Technology Co., Ltd., and Hebei Jingu, which are generally showing a stable growth phase. Enterprises at different ends of the industrial chain are also entering the biodiesel production sector with different strategies; from the perspective of downstream applications, the new generation of biofuels HVO , SAF As emerging demand surges rapidly, it drives the industrial chain to embrace new development opportunities.   Finally, Xu Biao said,   Comparing the revenue and profit growth of major listed companies in recent years, as well as their valuation levels, the biodiesel industry shows better business growth potential and future development prospects compared to the overall chemical industry.     Especially in terms of profit growth and price-to-earnings ratio, the average level of biodiesel companies is significantly better than the overall average of basic chemicals, fully reflecting the good growth momentum of the biodiesel sector and investors' strong recognition of the industry's future prospects and the development potential of enterprises.

Double Eleven Hainan Island-Free Shopping Tax Rebate Sales Exceed 3.4 Yi, doubling the average daily sales compared to National Day Golden Week. Companies such as China COSCO Group, Wangfujing Department Store, and HNA Group have intensified efforts in the field of tax-free shopping on remote islands in Hainan. Currently, several companies that have obtained tax exemption licenses are deploying their operations in Hainan's tax-free business sector. From a consumer perspective, what important opportunities can the operating entities seize?   The world's largest single-site duty-free complex, Haikou International Duty-Free City, has opened. It is significant for Hainan's tourism industry,    What are the impacts and significance of island tax exemption? During National Day, sales at Hainan's island tax-free areas rebounded. What is your view on the future trend of the island tax-free market in this region?    Frost & Sullivan Frost & Sullivan Executive Director, Greater China Region (hereinafter referred to as 'Frost & Sullivan')    Chen Chen    Accept an interview with Cailian News and discuss the above topics together. Cainiao Communications Q Currently, several companies that have obtained tax exemption licenses are deploying their operations in Hainan's tax-free business sector. CDF Haikou International Duty-Free City is located at 10 month 28 The store will open daily, and the Wangfujing International Duty-Free Port will be at 2023 year 1 The store is scheduled to open in October, with the Sanya Helin project under Zhuhai Duty-Free set to launch next 2023 Why are the opening dates chosen to be concentrated at the end of this year and early next year? From a consumption perspective, what important opportunities do you think business entities can seize? 2019 After the Spring Festival, the state increased its support for tax-exempt industries and gradually relaxed strict supervision over tax exemption licenses. The Hainan offshore duty-free market has seen new players such as Haida Control, Hailvtou, Zhongchushou, and Shenan Duty Free enter the market, vying to layout offshore duty-free businesses and build new duty-free stores.   After the opening of the newly established offshore island duty-free stores, the commercial facilities and environment for duty-free shopping on Hainan's offshore islands will be significantly improved, which will help attract more international high-end brands. At the same time, due to the enhanced passenger carrying capacity, it will also contribute to the development of Hainan's tourism market, playing a mutually reinforcing role. In addition, affected by the pandemic, China has adopted a relatively strict border opening policy, which is also conducive to the return of overseas consumption during the same period. This has laid a good foundation for the further development of Hainan's tourism and duty-free industries. Business entities within the industry can seize this opportunity to layout duty-free business on offshore islands and fully attract consumers through product brands, categories, prices, etc., reshaping consumer shopping habits for duty-free goods. This can enhance consumer loyalty and retain them to the greatest extent possible even in the event of future opening up. Q   The world's largest single-site duty-free complex, Haikou International Duty-Free City, has opened. It is significant for Hainan's tourism industry,    What are the impacts and significance of tax exemptions for offshore islands?   For the tourism industry in Hainan, Haikou International Duty-Free City is the world's largest single duty-free store after Sanya International Duty-Free City and one of the landmark projects for the construction of Hainan Free Trade Port. Haikou International Duty-Free City takes duty-free commerce as its traffic entry point, consisting of 'duty-free + Culture and tourism, driven by 'dual wheels', provide tourists with one-stop shopping, consumption, and entertainment tourism retail services.    The official opening of Haikou Duty-Free City is expected to attract more domestic and international tourists to Hainan, further driving tourism consumption in the province. At the same time, it also provides opportunities for the development of tourism and business enterprises.   Since the implementation of the offshore island duty-free policy, the proportion of offshore island duty-free sales in total tourism revenue and consumer goods has been continuously increasing. The duty-free industry has a significant impact on Hainan's tourism industry, consumer goods, and overall economy. For offshore duty-free shopping, as a major participant in the Hainan offshore duty-free market, the Haikou International Duty-Free City has officially opened, which will further enhance the brand awareness of COSCO Duty Free and consolidate and elevate its leading position in the tourism retail markets of Hainan, across China, and globally.   At the same time, the increase in the number of duty-free shops on Hainan's islands and the expansion of their operating areas have made the Hainan duty-free market more complete. This has further enhanced the passenger carrying capacity, providing consumers with better shopping options and experiences. Q In the third quarter, Hainan's off-island duty-free sales were hit. However, with the stabilization of the epidemic and the joint efforts to stimulate consumption from various parties, Hainan's off-island duty-free sales warmed up during National Day holidays. What are your views on the future trend of the off-island duty-free market in this region?   The number of duty-free stores in Hainan is constantly increasing, with continuously expanding operating areas and coverage cities. Numerous duty-free city construction projects are also advancing steadily. Many duty-free players, including the Wangfujing Group and Haizhijie Group, are intensifying efforts in the field of Hainan's offshore duty-free business, accelerating the formation of industrial cluster effects for offshore duty-free at the Hainan Free Trade Port, and driving the development of upstream and downstream industrial chains including brands, logistics warehousing, supply chain management, e-commerce retail, etc.   The offshore duty-free market enjoys favorable policy environment, and the development on the supply side is continuously improving, creating good conditions for the sustained growth of offshore duty-free sales.         From the perspective of market demand, against the backdrop of normalized prevention and control measures for the COVID-19 pandemic, most outbound tourism consumption capacity in China has remained domestically, providing an opportunity for domestic tourism and duty-free shopping on offshore islands.   In the long run, with the continuous improvement of Hainan's offshore tax-free shopping and supporting facilities, a comprehensive tourism consumption ecosystem that includes shopping, accommodation, catering, leisure vacations, and other industries formed around the tax-free industry will attract more global consumers to Hainan, promoting the further development of local offshore tax-free shopping, tourism retail, and tourism industries in Hainan. Q In your opinion, is there a possibility of further adjustment to the individual tax exemption limit within the island? How does this relate to the overall off-island tax exemption market?   The adjustment of the individual tax exemption quota for offshore islands highly depends on government policy guidance and requires comprehensive consideration of various aspects such as the development of the tax exemption market in Hainan Province, its carrying capacity, and supporting facilities. In the past decade, the individual tax exemption quota for islands has been continuously increased, demonstrating the government's support for the development of Hainan's island-based duty-free economy. The sales volume of Hainan's island-based duty-free products has grown rapidly. In an environment where the industry is developing well, increasing the individual tax exemption quota for islands will help unleash consumer potential in both domestic and international markets, stimulate consumers' enthusiasm for purchasing duty-free products, further expand the development space of the duty-free industry, and create more business opportunities for duty-free enterprises. Q Hainan Island Free Trade Zone Shopping Mall has its original location 10 Increase in home 12 Home, tax-exempt business area from 22 Ten thousand square meters increased 52 Ten thousand square meters. How do you view the competitive landscape of duty-free shopping on offshore islands? What impact does it have on the future development of the industry?   Previously, the players in the offshore duty-free market were mainly China COSCO Group International Limited (COCOF), with a high industry concentration. To stimulate overseas consumption return and economic development during the pandemic, stimulated by a series of favorable policies from the Hainan government, the offshore market in Hainan has grown rapidly in recent years. 2019 In the past year, the sales scale of duty-free shopping on Hainan's offshore islands has achieved a significant increase. 2020 After the state liberalized the issuance of tax-free licenses for Hainan's offshore islands in 2018, companies such as Haida Holdings, Hailvtou, China Merchants Service Group, and Shenzhen Duty-Free Shopping Co., Ltd. have entered the Hainan offshore market one after another. They have continuously expanded their business operations and store layout in the Hainan market, resulting in an increase in the tax-free operating area and number of stores in the offshore market.   In the future, as new entrants to the industry gradually increase, market concentration will decrease compared to before. However, in the long run, due to the mature supply chain and sales system already formed by the industry leader, China COSCO Group Co., Ltd., with its significant scale advantage, the industry will exhibit a competitive landscape of one dominant company over multiple strong competitors.   In addition, against the backdrop of a gradual increase in players in the offshore duty-free market, the competition in China's offshore duty-free market will not only feature price competition but also exhibit differentiated competitive patterns across multiple dimensions such as product brands, categories, regional layout, and target customer groups.   * This interview is published in Cailian News Agency. APP Reporter: Lu Tingting, original title    Selling More Than One Million on a Single Day 3.4 Yuan! Hainan's offshore tax-free shopping areas welcome peak consumption season Sales are expected to rebound in the fourth quarter | Industry Dynamics    (Clicking "Read the Original Article" at the end of the text will provide access to the full report).

2022 year 11 month 8 day -11 Today, with the theme of "Building a Cyberspace Community with a Shared Future", 2022 The annual World Internet Conference was held at the Wuzhen Exhibition Center in Zhejiang. The Wuzhen World Internet Conference has been held for eight consecutive years. How do you view the changes this year compared to previous years? What trends are worth noting at this year's conference? With the overall environment slowing down, the internet industry is also reducing costs and increasing efficiency this year. How do you view the current development direction of the industry?   Frost & Sullivan Frost & Sullivan Executive Director, Greater China Region (hereinafter referred to as 'Frost & Sullivan')    Cai Jinfeng    An interview with South China Morning Post was conducted to jointly discuss the highlights of this year's World Internet Conference and the development direction of the internet industry. Nanhua Morning Post Q The Wuzhen Internet Conference has been held for eight consecutive years. What are the changes this year compared to previous years? 2022 year 7 Month, China successfully held 8 Based on the Annual Wuzhou Summit, the World Internet Conference International Organization was established, which is of milestone significance in the international internet field. 2013 The ' prismgate' incident in which the United States demonstrated its 'hegemonic world' in cyberspace has caused countries around the world to re-emphasize the issue of cyber sovereignty. With profound changes in the international landscape and escalating cyber attack methods, countries around the world have elevated the maintenance of cyber sovereignty to a national strategy. 2019 Year to 2021 In [year], the World Internet Conference successively released the outcome document 'Cyber Sovereignty: Theory and Practice'. 1.0 Edition, 2.0 Edition and 3.0 Edition, appealing to all countries to respect cybers sovereignty and jointly build a new order in cyberspace. In the past, the World Internet Conference has been held consecutively 8 In [year], China shifted from being passive to active, gaining more say in reshaping the international order of cyberspace. The Wuzhen World Internet Conference, as an important platform advocated and hosted by China, is of great significance for eliminating the global internet's unipolar pattern. Q The overall environment has slowed down, and the internet industry has also been reducing costs and increasing efficiency this year. What is the current development direction of the industry? What trends are worth paying attention to at this year's exhibitions?   Web3 Trend:    The traditional digital economy primarily relies on traditional internet technology, with search engines, e-commerce, social networks, and other applications as its main scenarios; the new digital economy, on the other hand, is based on the next-generation internet (also known as Web3 ) as the main technology, and has extended to digital currencies and applications in terms of tools and scenarios. NFR And the metaverse.   Web3 The value internet, with assets as its core object, is characterized by the interaction between algorithms and assets. It uses algorithms to distribute digital assets, achieving a trend towards 'zero marginal cost' in asset circulation. The resulting property rights economy will change the development model of the digital economy. Web3 Infrastructure such as blockchain (decentralization), token The development of mechanisms (economic incentive systems), etc., is becoming increasingly perfect, but larger-scale growth depends on the development at the application ecosystem level.   At the application level, it mainly consists of Defi and NFT and GameFi The leading sub-sectors are growing rapidly. DeFi The development is relatively mature, capable of realizing functions such as trading, lending, and financing, making its exchange an industry traffic entrance; secondly NFT Market self 2020 Since [start year], the market has witnessed explosive growth in scale, with overseas markets benefiting from their trading / Speculative and social attributes, but domestic regulatory restrictions on secondary trading have stripped away its trading nature. Therefore, the future growth of the market mainly relies on collection value; finally, GameFi Rely on P2E Featured, already available Axie , infinity and STEPN Popular apps are expected to become the next trendsetter. At the same time, you can follow SocialFi Exploration results in advertising and search domain applications.   AI Artificial Intelligence Trends:   The latest progress in artificial intelligence mainly focuses on new AI technologies, new AI frameworks, and new AI applications. In the field of new AI technologies, large models (AI models trained with massive amounts of data, featuring extremely large parameter sizes, capable of handling multiple tasks) and multimodal learning (machine learning methods that process multi-modal information such as speech, images, text, etc.) have made significant breakthroughs; in the field of new AI frameworks, google and NVIDIA Companies are deploying AI architectures across various aspects, accelerating AI computing from software frameworks to hardware design, thereby liberating computing power. In new application areas of AI, deep learning (a machine learning algorithm based on multi-layer neural networks) and reinforcement learning have shone brightly in the fields of life sciences and energy development, respectively.   * This interview was published in Nanhua Morning Post, Reporter Tracy Qu , the original text is named    "The This year's quieter Internet Conference kept big tech executives away amidst a shift away from consumer technology >>    (Clicking "Read the Original Article" at the end of the text will provide access to the full report).

2022 year 11 month 7 day after tomorrow 9 Today, Huawei is addressing ICT Industry's annual flagship event - Huawei CONNECT 2022 Held in Shenzhen. With the theme of "Unlocking Digital Productivity", the conference invited ICT Industry leaders, experts, and partners discussed topics such as how to promote digital transformation in the industry, jointly build a digital industrial ecosystem, and share best practices.   Frost & Sullivan Frost & Sullivan Frost & Sullivan, referred to below as 'Frost & Sullivan', was invited to participate in this conference. Mr. Wang Chenhui, Managing Partner and Executive Vice President of Frost & Sullivan Greater China, along with experts from Huawei's various business units including Power, Finance, Coal, Oil & Gas, Road, and Port, engaged in an in-depth discussion on how to find technology for the industry and create value through deep engagement with specific scenarios. " Three major measures to drive digital transformation across all industries Huawei's rotating chairman Mr. Hu Houkang Hu Houkang, rotating chairman of Huawei, delivered a keynote speech titled "Unlocking Digital Productivity and Stimulating New Industry Growth." He believes that China's comprehensive digital infrastructure, the urgent need for digitization across various industries, and its rich ICT Talent reserve is accelerating the industry's digitalization into high gear. To help enterprises address common challenges in digital development, Hu Houkang has proposed three major initiatives: 1 ) Delve into scenarios to make technology easy to choose and use, ( 2 ) enables enterprises to 'build a good cloud foundation and make the best use of it', ( 3 Accelerate talent cultivation, ensure a continuous supply of digital talents, and help various industries unleash their digital productivity. " Find technologies for the industry and create value by delving into scenarios Huawei's President of Government and Enterprise Business in China, Wu Hui, introduced the methods for achieving digital transformation. He said: 'Digital transformation is about innovation and change. First, customers must have a strong willingness and establish a vision and strategy for digital transformation. They select suitable scenarios around their strategy, set goals, and jointly build joint innovation organizations with partners and Huawei, based on 4A The architecture matches the corresponding technology, and partners build applications close to business needs. Customers have digital transformation strategies, partners have years of industry experience, and Huawei has a full-stack capability. ICT Technology and security are fundamental technologies. By leveraging their respective strengths, we can jointly create business value and social value, and achieve sustainable development. Wu Hui also unveiled ten scenario-based solutions jointly created with partners at the event, including the bank's distributed new core, smart hospital full-light reading of films, and airport intelligent perimeter security. These solutions aim to increase corporate efficiency, improve social welfare, lay a solid foundation for development, and build an intelligent world interconnected by all things. " Build the industry cloud foundation, and everything is served. Huawei Cloud CEO Zhang Ping'an said: 'Huawei Cloud practices 'everything is a service', helping industry customers quickly acquire advanced technologies and successful experiences, and unleashing digital productivity.' In terms of Infrastructure as a Service, Huawei Cloud has built a unified architecture data center infrastructure globally. KooVerse Provides computing, storage, network, security and other infrastructure services for enterprises. In terms of technology as a service, Huawei Cloud accelerates the modernization of enterprise applications through full-stack innovation. In terms of experience as a service, Huawei Cloud has newly launched services for industries such as electric power and highways aPaaS , enabling customers to avoid reinventing the wheel and moving their industries to the cloud. Huawei Cloud released Huawei Cloud Astro Low-code platform, DevCloud Developed cloud, etc., exceeding 15 New services. " Frost & Sullivan's in-depth analyst engagement & Think Tank Roundtable Symposium Managing Partner and Executive Vice President, Greater China, Frost & Sullivan Mr. Wang Chenhui At the Huawei Roundtable, Mr. Wang Chenhui, Managing Partner and Executive Vice President of Frost & Sullivan Greater China, shared his thoughts on the challenges faced in talent, finance, and applications at three major levels after domestic industries have entered a deep-water phase of digital transformation. He also provided systematic suggestions on how all parties can carry out effective ecological cooperation for colleagues across Huawei's various business units.   Mr. Wang Chenhui said: 'Frost & Sullivan has served thousands of industry leaders across various segments in the Greater China region over the years. As a strong supporter for domestic enterprises in the domestic and international capital markets, we are very much looking forward to seeing Huawei's strength...' ICT Capabilities can further empower them to form a deeper industry understanding and accumulate more know-how in business It can also help them complete their digital transformation, thereby achieving significant cost reduction and efficiency improvement.

10 month 25 Today, Shanghai announced the launch of inhalation COVID-19 vaccination. The vaccine is a recombinant novel coronavirus vaccine for inhalation developed by CanSino Biologics, and 9 month 4 Rizatriptan has been included as an emergency use drug in a revised dosing regimen. 10 month 28 day, throughout A Amidst a chorus of wails, CanSino, with the posture of a single red dot amidst thousands of greens, led the vaccine sector to become almost the only one with positive gains. And in just 3 God, the entire market witnessed CanSino Biologics A The stock price soared 40% . What is the current market expectation for booster shots? Will COVID-19 booster vaccines be similar to influenza vaccines in the future?   What have vaccine companies gained from the COVID-19 dividend period? What changes have taken place in the vaccine industry?    After the COVID-19 dividend period, what other key areas of vaccine companies are worth paying attention to and looking forward to?     Frost & Sullivan Frost & Sullivan Zhu Yi, Executive Director of Frost & Sullivan Greater China, was interviewed by 'Shenzhen Blue Perspective' to discuss the current situation and future development trends of the COVID-19 vaccine market. Deep Blue View Q   What is the current market expectation for booster shots? Will COVID-19 booster vaccines be similar to influenza vaccines in the future? Should high-risk groups receive regular vaccinations or a nationwide mass rollout?   （ 1 The Omicron variant is still mutating, and we are not certain about its mutation direction or the risks it poses after mutation. At present, we do not have the ability to completely eradicate the virus. Therefore, it can be predicted that if the Omicron variant continues to mutate and spread on a large scale, the penetration rate of booster shots will continue to increase. Coupled with the need for annual re-vaccination, the market size is expected to expand continuously. （ 2 As for whether the COVID-19 booster vaccine will be similar to the flu vaccine, this will depend on the mutation rate and pattern of the novel coronavirus. If the virus continues to mutate rapidly and the protection provided by existing vaccines becomes ineffective, there may be a need in the future to receive regular booster shots like those for the flu vaccine. （ 3 The epidemic prevention and control work is carried out in an orderly manner. The 'booster shot' vaccination campaign was first launched among key populations, high-risk occupations, and key job positions, and then gradually extended to other groups.   Currently according to 7 month 23 According to a press conference by the Joint Prevention and Control Mechanism of the State Council, as of now, the cumulative first-dose vaccination coverage rate of COVID-19 vaccines in China is 92.1% , vaccination coverage rate for the entire process 89.7% , Strengthening immunization rates 71.7% . Q Some vaccine experts say that it doesn't make much sense to launch a COVID-19 vaccine for preventing severe illness now. Vaccines for preventing infection have more market opportunities. What's your opinion?   Currently, for most of the COVID-19 vaccines that have been launched and are under research, their effectiveness in preventing severe illness and death is generally higher than that in preventing symptomatic infection. For example, Sinovac ( Sinovac Biotech Second dose of vaccination 14 Postpartum, effective rate of symptomatic infection prevention: 58.49% and prevent death, ICU The effective rates are 86.38% , 89.68% ; Pfizer vaccine, second dose 14 Postpartum, the effective rate of symptomatic infection prevention is 87.69% and prevent death, ICU The effective rates are as follows: 100% , 98.29% .   Therefore, it is undeniable that improving the vaccine's effectiveness against infection can meet the current clinical unmet needs of the COVID-19 pandemic and has significant market potential. However, at the same time, COVID-19 vaccines for preventing severe illness also play an irreplaceable role, greatly reducing the disease burden and presenting certain market opportunities. Q Some vaccine R&D companies such as Watson and ZF Bio are also actively deploying second-generation vaccines targeting new strains. What are their motivations and expectations? Wason's second-generation vaccine, designed and developed against novel coronavirus variants, encoding the full-length S Protein chimera-based innovative broad-spectrum COVID-19 vaccine mRNA vaccine. Due to the current COVID-19 The virus is still mutating continuously, and there is a possibility that the protective effect provided by existing vaccines may become ineffective. Therefore, companies including Watson and ZF Bio will actively deploy second-generation vaccines targeting new strains in order to cover the main immune escape mutation sites of various variants and achieve better protection against COVID-19.   In the future, although the vaccination rate against COVID-19 will decline compared to last year, there is still a certain market for booster shots based on new technology routes targeting new strains, as deployed by companies such as Watson and ZhiFei. These booster shots also offer certain profit opportunities.   Q If a company develops a bivalent vaccine based on the existing monovalent vaccine, would its investment cost be relatively lower? Correspondingly, would there be a larger profit margin? If it is based on the same technology platform / The development of bivalent vaccines for routes, based on the existing monovalent vaccines, is understood to have relatively lower investment costs. This can reduce some initial research and development expenditures, production platform investments, and sales channel development. However, the production cost and research and development difficulty of bivalent vaccines are generally greater than those of monovalent vaccines, and their profit margin still depends on specific circumstances.   Q It is understood that among the companies that made early investments in COVID-19 vaccines, only Wantai Biotech has not continued its efforts in this area. What do you think of Wantai Biotech's decision?   Currently, as the pandemic continues and the virus mutates continuously with decreasing toxicity, people's demand for vaccines is showing a gradual decline trend. Therefore, the vaccine market has entered the second half, with new competitive directions mainly focusing on vaccines against variant strains, those with better efficacy, and those that are more convenient to use. The choice of Wantai Biotech is mainly based on the company's own strategic layout direction. However, recently, Wantai Biotech's nasal COVID-19 vaccine has completed the interim primary data analysis of Phase III clinical trials and obtained key data. This indicates that Wantai Biotech has not withdrawn from the COVID-19 vaccine market. Q What do you think vaccine companies have gained from the COVID-19 dividend period? What changes have taken place in the vaccine industry?   Looking at the overall vaccine industry, benefiting from the COVID-19 dividend period, the global vaccine market size has grown from 2016 year 275 Billion USD increased to 2020 year 365 billion dollars , accounts for the total global pharmaceutical market 2.8% The annual compound growth rate is 7.3% .   China is 2020 The world's second-largest vaccine market, accounting for a share of 31.7% Driven by the increased accessibility of innovative vaccines, favorable government policies, vaccine technology innovation, and enhanced vaccination awareness, the scale of the Chinese vaccine market has 2016 year 271 RMB 10 billion increased to 2020 year 753 100 billion RMB, with an annual compound growth rate of 29.10% .   From the perspective of vaccine companies, 1 ) Thanks to the COVID-19 dividend period, enterprises have accumulated huge cash flows, which is crucial for their development.   The financial report shows that the net operating cash flow of Kangtai Biology decreased compared with the same period last year 4922 Ten thousand has increased to 1.07 100 million, a year-on-year increase 118.98% The semi-annual report of Sinopharm also shows that Sinopharm has total cash flow 77.68 100 million yuan. 2 In addition,   COVID-19 pandemic The epidemic has promoted global demand for COVID-19 vaccines and, to some extent, accelerated the development of pharmaceutical companies in related innovative technologies.   such as mRNA Vaccine research and development, as well as technological breakthroughs. 3 ) At the same time, benefiting from the COVID-19 dividend period,   Domestic vaccine companies are also gradually entering the international market.   For example, recently, the novel coronavirus from Wuhan mRNA The vaccine has obtained an emergency use authorization from the Indonesian National Food and Drug Administration for 18 People aged one year and above can prevent COVID-19 through active immunization. This is Indonesia's first COVID-19 vaccine that will be locally produced. mRNA Vaccine, which is also the first COVID-19 vaccine independently developed in China and approved for overseas marketing mRNA vaccine. Q After the COVID-19 dividend period, what other key areas of vaccine companies are worth paying attention to and looking forward to? As the pandemic continues, the virus is constantly mutating and its toxicity is decreasing, leading to a gradual decline in demand for vaccines. Additionally, vaccination has gradually reached saturation, and the reduction in revenue from original vaccines is inevitable. However, there are also opportunities within the crisis. In the second half of the vaccine race, vaccines targeting variants, those with better efficacy, and those that are more convenient to use will be new competitive directions.   * This interview was published on the WeChat official account "Shenzhen Blue Observation". Reporter: Wu Ni. Original title:     "A Kangxieno, Can't Save the Future of COVID-19 Vaccines?"    （ 👈 Click to read the original text directly).

CITIC Construction Investment Greater Consumer Goods Chengdu Forum 2022 year 11 month 8 On the day, the CITIC Construction Investment Greater Consumer Chengdu Forum (hereinafter referred to as the 'Conference') hosted by CITIC Construction Investment Securities was successfully held. The Conference brought together many front-line experts and senior executives from listed companies within the industry to jointly offer suggestions for the development of China's consumer industry and facilitate investment discussions. 2023 China's major consumption trend in 2023, grasp the investment main line.   Frost & Sullivan Frost & Sullivan Ding Zhuowen, Executive Director of Frost & Sullivan Greater China and Dean of LeadLeo (Shanghai) Research Institute, was invited to attend the conference 11 month 8 The main forum held on the morning of the day delivered a keynote speech titled 'New Demographics, New Product Categories: A New Consumption Era Amidst Opportunities and Transformations'. Executive Director of Frost & Sullivan Greater China, Dean of LeadLeo (Shanghai) Research Institute Ding Zhuowen   Firstly, Ding Zhuowen pointed out that consumption is one of the most important drivers for the sustained and substantial development of the national economy. The report of the 20th National Congress of the Communist Party of China clearly states that it is necessary to adhere to promoting high-quality development as the theme, organically combine the implementation of the strategy to expand domestic demand with deepening supply-side structural reform, enhance the internal driving force and reliability of the domestic large cycle, and improve the quality and level of the international cycle. The total social demand consists of consumer demand, investment demand, and export demand. Among them, consumption and investment are domestic demands, while exports are external demands. Therefore, an important aspect of expanding domestic demand is to actively stabilize household consumption. The core of consumption is always the satisfaction of demand. So, what changes have taken place in the new era of consumption? Ding Zhuowen believes that these mainly focus on three levels: the generational transition of consumer groups, the upgrading of consumption methods and scenarios, and the reshaping of consumption order. What are the new consumer groups? Ding Zhuowen said, 15 - 50 The aging population is the most core consumer force in China, and its current size is approximately 7 Around hundreds of millions, they were born 1972 till 2007 Between years, from an intergenerational perspective, that is, 70 Later 00 The span thereafter. Based on basic attributes such as age, gender, and place of birth, as well as acquired characteristics like education level, occupation, income level, marital status, and fertility, categorizing these core consumer forces into corresponding consumer groups reveals:   Intergenerationally, it is mainly Z Generations and Y generation;    In terms of occupation and income level, both white-collar workers and middle-class individuals are included;    In terms of lifestyle, this is particularly evident among solo young people and new-generation mothers;    This is a summary of the six core consumer groups, their values, consumption preferences, and categories of purchases.   New consumer groups: Z generation Z Generations, simply defined by time, are born in 1995 - 2009 Groupings between the years. China Z Generational population exceeds 2.64 hundred million people, accounting for about the total national population 19% , where “ 95 The latter, accounting for nearly 40%, 00 after" and "“" 05 The latter accounts for about 60%. They are the original inhabitants of the internet and also lived through the most rapid period of our economic development. Their parents' economic accumulation helped them live a better life, so self-satisfaction has become Z The core of generational consumption.   Ding Zhuowen believes that the economic foundation of the original family, plus Z Generations have gradually entered the workforce, started earning income, and this group has gradually become the backbone of consumption. Z The strong consumer power across generations has spurred the development of new categories, with the beauty economy being at the forefront. 2022 Since the beginning of this year, Z Sales of high-value-for-money products have increased year-on-year across generations 166% . Secondly, the health preservation economy has broken out of its niche, starting from various beverages and expanding to multiple fields such as food and condiments. 2022 Since the beginning of this year, Z The sales volume of low-sugar products purchased by generations has increased year-on-year by more than 20 times. In addition, due to Z The concept of health preservation across generations, as well as the sales volume of health management products such as astaxanthin and seal oil-based health supplements, has also seen unprecedented high growth rates. At the same time, Ding Zhuowen also said that as an internet native, Z The consumption preferences of generations towards smart products are also self-evident; they generally love to buy smart home products. 3C Products, etc. If purchasing a car for commuting, people also prefer more intelligent new energy vehicles. New consumer groups: Y generation Y Generations refer to those born in 1980 till 1994 Annual population.   In terms of population size, Y The number of people in each generation has reached 3.15 hundred million, than Z The base of the population is even larger, and it remains the most core consumer force at present. The same is true in terms of consumption scale. Y The annual consumption expenditure per capita across generations is approximately Z generational 1.5 times. Ding Zhuowen believes that Y The generation that first enjoyed the reform and opening up and the progress of information technology is characterized by dual contradictions. It can be observed in them the coexistence of materialism and idealism, the combination of internationality and nationality, and the presence of both modern and traditional elements.   While enjoying material prosperity, we are also bearing the immense pressure brought about by striving for a better life. Due to such a growth background, as well as the current majority Y The lifestyle of successive generations has led them to spend more on quality and refined living, which can showcase personal taste while also embodying pragmatism in improving lifestyles. Therefore, smart homes that can greatly improve living standards are Y A favorite that has been passed down from generation to generation.   In addition to this, Y Generations are also the main force in medical beauty consumption. This is not only closely related to their consumer needs but also to their age group, as well as their relative wealth accumulation. New consumer group: Rising-middle-class professionals Ding Zhuowen further stated that in addition to looking at the core consumer group from an intergenerational perspective, it is also possible to better grasp this segment from the perspectives of occupation and income. Living in high-tier cities, with 85 later and 90 The new generation of white-collar workers, who are mainly in their careers and seeking advancement, generally have very high demands for convenience in consumption. They are still in a period of career struggle and work at a very fast pace. Therefore, they particularly favor online channels, such as O2O model Home platform. In addition to convenience, urban white-collar workers place great emphasis on a sense of ritual. Therefore, various festivals and shopping festivals are important times for them to place orders.   At the same time, they are very concerned about self-improvement, both externally and internally, hoping to always maintain their best state. Therefore, in addition to beauty care, skincare, and health preservation, they are also a major group that pays for knowledge. New consumer group: Senior middle class There are also senior middle-class individuals living in high-tier cities, 70 later, 80 Later generations are now the main focus. Compared to the younger generation, senior middle-income earners have relatively ample wealth accumulation and exhibit a more mature consumption outlook. Ding Zhuowen stated that most senior middle-class individuals hold the consumption philosophy of 'light price, heavy quality'. Online shopping emphasizes quality, with more choices for brand official flagship stores; offline shopping focuses on experience, and they are enthusiastic about new retail stores represented by Hema Fresh. In addition to being pushed to the forefront due to generational change Z Beyond generations, the two major consumer groups emerging due to lifestyle changes also have a profound impact on the development of the consumer industry. New consumer group: Single-person young people   Data from the National Bureau of Statistics show, 2015 Since [start year], compared with multi-person households, the proportion of one-person households has gradually increased. 2019 Annual achievement 18.5% More and more young people prefer to live alone. According to statistics from the Ministry of Civil Affairs, there are currently 7700 Wan Duojiu Youth.   Ding Zhuowen pointed out that living alone does not affect the quality of life. People who live alone are less influenced by others when making consumption decisions, and instead, they have a much higher desire for consumption upgrades in certain categories than non-single-person households. New consumer group: New-generation moms Another force that cannot be ignored is the new generation of mothers-to-be. According to Ding Zhuowen,   New-generation mothers in high-tier cities often hold multiple roles, being working professionals, caregivers for their children, and the omnipotent managers of their entire family. New-generation mothers are gradually transitioning from 80 Later, it became more youthful 90 The latter group accounts for more than 60%. 90 The postpartum mothers have become more independent and free. The improvement in their educational background, personal income, and social status has made them not only attach importance to the needs of the family and each individual but also pay more attention to self-improvement in their consumption structure.   Ding Zhuowen stated that in the face of parenting, new-generation mothers with a bachelor's degree or above place great emphasis on scientific parenting concepts. From various maternal and infant products to services, and then expanding to pre-school, in-class, and extracurricular education for their children, new-generation mothers pay close attention to scientific design, materials, systems, as well as the safety, quality, effectiveness, and other aspects they embody.   New consumer preference: pet economy According to Ding Zhuowen, recently 10 In recent years, the number of pet owners has been increasing continuously. The latest data shows that the number of pet owners in urban areas of China has reached 6,800 ten thousand people, this 6,800 The ten-thousand-strong pet-keeping army 90 Second most important, accounting for 46.3% , but at the same time 00 Later, it gradually joined in and became an important part.   The spending of these young pet owners on pets cannot be underestimated, with an average annual consumption per dog 2,634 Yuan, average annual consumption per single cat 1,826 yuan.   The number of pets is also increasing year by year. According to 2021 Data from the 'China's Pet Industry White Paper' for 2021 The total number of urban pet dogs and cats nationwide exceeded 1.12 Hundreds of millions, with urban pet owners per capita owning one pet 1.64 Only. Interestingly, the number of pet dogs is about 5,400 Ten thousand, the number of pet cats is about 5,800 Ten thousand, cats have surpassed dogs to become the largest pet category. Ding Zhuowen further pointed out that in addition to products and services, another new direction of the pet economy worth noting is:   More and more adorable pets are gradually entering KOL (Key Opinion Leader) In this field, he has become a blogger and a regular visitor to short video and live streaming sections.   Behind the numerous pet care bloggers taking to live streaming, it is not difficult to see that cute pet live streaming is in a blue ocean of development. The pet live streaming market is vast and thriving. IP address How to effectively monetize traffic remains an important issue that needs consideration in competing for this segment. Preferences of new consumer groups:   Smart Home Ding Zhuowen pointed out that in recent years, with the gradual maturity of artificial intelligence and Internet of Things technologies, supported by policies and regulations, the domestic smart home industry has entered a fast track. Various products have gained wider recognition from consumers and entered thousands of households. Y Generations and Z Generations have gradually gained control over the discourse on home improvement and interior design, due to Y Generations of pursuit for quality of life, Z Generations' pursuit of fashion trends has undoubtedly matched the needs of these two groups for this category in terms of home appliance consumption with highly technological, convenient, intelligent, and interactive home products. From purchasing products to services, from the implementation of basic functions to willingness to pay for high-end quality and cutting-edge technology, the demand for personalized and diversified smart home consumption is becoming increasingly prominent.   Ding Zhuowen believes that although some consumers still hold reservations about full-house intelligence, China's vast consumer market and industrial accumulation provide ample time and space for enterprises to continuously iterate and upgrade product solutions.   Preferences of new consumer groups:   Health preservation Returning to the body, health preservation and wellness, many young people have already embarked on this path. According to the 'China's Great Happiness Survey ( 2020 - 2021 )》shows, in 2021 Among the consumer expectations for next year, health care and wellness rank 18 till 25 The second place on the consumption list of young people, proportion 33.27% , only a fraction of the way behind the number one-ranked tourism sector 0.75% . Ding Zhuowen introduced that more and more young people are beginning to pay attention to health and wellness, with increased consumer spending accelerating the development of health and wellness products and related niche areas. The first sector hit hardest is the health supplement industry, ranging from traditional Chinese base products such as bird's nest, fish gelatin, and black sesame pills to Western supplements like collagen, probiotics, lutein, melatonin, etc. The scenarios mainly focus on enhancing immunity, regulating the gastrointestinal tract, improving sleep, etc., with increasingly refined efficacy and more diverse products. In addition to maintaining health, beauty products infused with medical aesthetics ingredients are also favored by a wide range of young female consumers. Currently, particularly popular medical aesthetics ingredients include hyaluronic acid, collagen peptides, glutathione, and various patented components. Product forms are also quite diverse, including tablets, powders, instant oral liquids, as well as drinking water, yogurt, compressed candies, and more. Other segments such as dietary therapy, fitness products, sleep products, and massage devices will also benefit from the dividends brought about by the development of the health economy.   Ding Zhuowen believes that young people becoming the main force in health and wellness consumption is an inevitable trend of the future, which will bring development opportunities to the health and wellness industry and related sectors. Preferences of new consumer groups:   Prefabricated dishes The pace of life and work in high-tier cities is quite fast. As family sizes tend to become smaller, working women strive for a balance between work and family, and the young consumer group spends less and less time cooking.   ,   Cooking skills are generally lacking, and considering the long-term impact of eating out and takeout on health, coupled with pandemic factors, the popularity of ready-made meals has almost become an inevitable trend. Compared to takeaways, pre-prepared foods that are frozen or refrigerated offer consumers a relatively healthier impression due to the precise control of seasoning usage during the pre-processing process. Moreover, the cooking process of prefabricated dishes is not complicated, allowing the younger consumer group to fully experience them and gain a greater sense of accomplishment. Therefore, they are highly regarded by this group. According to Ding Zhuowen, since 2011 Since the beginning of the year, the number of pre-packaged dish enterprises registered has increased rapidly, especially 2020 Year-end 2021 Between the years, the impact of the pandemic led to a surge in prefabricated dishes. 2021 The number of prefabricated food enterprises increased to 7.19 Wanjia, according to Tmall's data statistics, 2021 The sales volume of prefabricated dishes increased by nearly 16 Biped, becoming one of last year's 'Top Ten New Year's Products'.   Ding Zhuowen further pointed out that the explosive growth of this sector has attracted widespread capital attention, currently with approximately 29 The listed company has involved in and expanded the prefabricated dish business ,   It mainly includes professional prefabricated food enterprises (Weizhi Xiang, steamed, braised and boiled foods), agricultural and animal husbandry aquatic product enterprises (Shengnong Development), traditional frozen food enterprises (Sanquan Food), catering enterprises (Guangzhou Restaurant), etc.   The primary market is also bustling with activity. 2021 Year to 2022 In the first half of the year, there were a total of 40 Yuqi financing project. Preferences of new consumer groups:   Maternal and Infant Economy Regarding the maternal and infant market, Ding Zhuowen believes there are two aspects that are favorable and worthy of attention:   1. The dividend of the two-child policy has begun to show results.    With the gradual relaxation of China's two-child policy, although the total birth rate has declined, the number of births to second children has been steadily increasing. This can also be regarded as one of the important drivers supporting the growth of the maternal and infant consumer market in the future;   2. Consumption upgrading has replaced the demographic dividend as the main driver of industry growth.    With “ 90 after"“ 95 The new generation of parents, represented by 'postpartum', are becoming the main force in maternal and infant consumption. They advocate scientific parenting and have a high willingness and demand for refined maternal and infant products. Maternal and infant consumption is gradually showing trends towards high quality, greater segmentation, and a focus on appearance. Research data shows, 2021 year, 90 The postpartum mother spends more than 85 Post-moms. As a group who grew up under the internet, they advocate for scientific parenting, are more willing to spend money on their children, have stronger purchasing power and higher consumption intentions, and pay more attention to new trends in products. The main consumer group for infant travel products is pregnant women, new mothers, and 0 - 6 Infants and toddlers at this age, therefore, the development of the infant travel product industry is highly correlated with the number of infants and young children in our country. According to data from the National Bureau of Statistics, 2010 Year-end 2014 In [year], the number of newborns in our country continued to rise, bringing growth dividends to the travel consumption market for infants and young children. The reduction in the number of newborns has posed growth challenges to the infant travel product market. However, with consumption upgrades, improved product performance, and a richer product matrix, parents are spending more on each child ARPU The value is on the rise, and there is still incremental market in the industry.   Ding Zhuowen also pointed out, 90 later, 95 Post-new generation parents pay more attention to the consumption details and service experience of products, and also have a relatively high level of interest and acceptance in innovative technologies and products.   They are eager for scientific parenting knowledge, and recommendations from maternal and infant communities and industry experts have a significant impact on their consumption decisions.

20222 year 11 month 7 - 9 day 2022 IDC The YMT New Drug R&D Influence Conference was held in Shanghai. 7 day 2022 The 5th Biomedical Symposium of Guanke Biology kicked off first. This symposium focused on ADC Drug Differentiated R&D, from ADC The commercialization prospects analysis of the drug has begun, with a focus on discussion ADC Inviting R&D teams from innovative pharmaceutical companies to participate in core topics such as early drug research and development, clinical studies, product pipeline layout, and promotion, to jointly explore ADC The path of drug research and development innovation.   Frost & Sullivan Frost & Sullivan Liu Weiqi, Executive Director of Frost & Sullivan Greater China, was invited to attend the event and delivered a speech on the current market situation and development trends of antibody conjugate drugs.   Executive Director, Greater China, Frost & Sullivan Liu Weiqi Antibody conjugate drug Antibody-drug conjugates , ADC Antibodies conjugated with cytotoxic drugs form a drug that can deliver toxins precisely to the tumor site without affecting normal tissue, thereby increasing the patient's treatment window.   Liu Weiqi pointed out, successful development ADC The key factors of a drug include target antigen, antibody, linker, cytotoxic agent, and conjugation method.   Among them, the target antigen is the key factor determining its development, the antibody is the key factor determining its efficacy, the linker is the key factor determining its safety, cytotoxic drugs are the key factor determining their activity, and the conjugation method is the key factor determining their homogeneity.   According to Liu Weiqi, ADC Drugs are referred to as the 'biological missiles' in the field of tumor treatment. Compared to traditional chemotherapy drugs, antibody drugs, etc., ADC The drug possesses strong targeting properties as well as lethal effects. Compared with traditional drugs, ADC The drug has the following characteristics:   Overcoming drug resistance:   Optimization of monoclonal antibodies and payloads ADC Combination may help reduce or even overcome drug resistance;   Less off-target toxicity:   Due to ADC Neutralizing antibodies possess high specificity and controllable drug activation and release mechanisms, therefore ADCs The off-target toxicity of drugs is much lower than that of comparable small molecule therapeutics, as small molecule cytotoxic agents selectively attack tumor cells and normal cells;   Better efficacy:   Because cytotoxins are released and act within tumor cells, compared to antibody-drug conjugate therapies, ADC As long as a lower concentration of the drug can cause an equivalent therapeutic response, antibody-drug conjugate therapy mainly destroys the tumor surface or lacks specificity. ADC Drug research and development are currently mainly carried out through collaboration, with a surge in approvals in the past three years. ADC The pace of domain innovation has accelerated, sales have grown rapidly, and blockbuster products have been launched frequently. Data shows, domestically ADC Recent in the field of medicine 3 In the year, there were multiple large-scale financing events, such as Rongchang Biotech's 2020 The year marked the first time that Hong Kong's capital market was accessed through 32.24 RMB 10 billion in financing, and 2022 The number of users accessing the Sci-Tech Innovation Board in a year December 26 RMB 100 million in financing.   Liu Weiqi pointed out that the injection of capital has contributed to ADC The pharmaceutical industry is developing rapidly. 2021 Year, global ADC The market scale of drugs reaches 55 billions, expected to 2021 This number will grow to 167 billion dollars 2021 Year to 2025 The annual compound average growth rate is expected to reach 32% .   "globally ADC Under the general trend of rapid growth in the pharmaceutical market size and continuously climbing capital enthusiasm, China ADC "The pharmaceutical market has the potential to continue expanding and achieve rapid growth," said Liu Weiqi.   Expected China ADC The market size of the pharmaceutical industry will be 2025 Year-on-year growth to 11 billion US dollars 2021 Year-end 2025 The annual compound average growth rate will reach 116% . Data source: Analysis by Frost & Sullivan In the future, ADC The pharmaceutical market will exhibit the following three development trends: 1 Expansion of indications: Currently, ADC The indications for drugs are concentrated in the oncology field, with fierce competition in the development of oncology indications. Looking at ADC The proportion of hematological malignancies in early clinical trials at the field R&D release bureau has increased. 2 ) ADC Growth in drug sales: Already listed 14 model ADC The drug is expanding into global markets, and the Chinese market has just begun to embrace it ADC The craze for drugs, already 5 The product has been approved, and it is expected to see rapid sales growth in the future. 3 The capital market remains hot: With the continuous accumulation of enterprise technology, capital on ADC The domain's popularity is constantly climbing, recently 3 Domestic volume exceeded 10 Home layout ADC Enterprises obtaining financing, of which approximately 7 become C Previous company, expected future in China ADC Investment and financing events in the pharmaceutical sector will continue to be active.   According to a study by Frost & Sullivan, as of 2022 year 6 In the month, there were more than 200 In clinical development ADC Drug pipeline, which is currently still clinical. I Primarily early-stage projects; domestic ADC The current approach to drug research and development is 'in-house R&D'. + The number of cooperation ”combined models" is also increasing continuously. The number of R&D pipelines of Chinese enterprises Top 9 Among them, Hengrui Medicine has 7 Pipeline projects in progress, including Lepu Biotech, Duoxi Biotech, and Bio-Thera 5 pipeline under research. In addition, China ADC The main layout of the drug pipeline focuses on HER2 , CLDN-18.2 , TROP2 go up.   Liu Weiqi said, based on tradition ADC Novel conjugated drugs of the mode NDC ) emerging in droves, to PDC The new type of coupling system represented by it is expected to usher in the next generation ADC Technology upgrade. He further introduced that, for example PDC Peptide conjugated drug, RDC radioactive nuclide conjugated drug, SMDC small molecule conjugated drug, ISAC Antibody immunostimulatory conjugates, in addition to this, there are antibody oligonucleotide conjugates AOC Antibody cell conjugate drug ACC Antibody fragment conjugated drug FDC Antibody-degradable conjugated drug ADEC Antibody biopolymer conjugated drugs ABC and other types NDC There has also been development to varying degrees, and it is expected that with future technological progress, NDC Drug types will continue to undergo transformation and innovation.   In recent years, with ADC drug and NDC The continuous maturation of pharmaceutical technology, ADC The specificity and cytotoxicity of drugs have been gradually improved, enabling the rapid development of antibody conjugation technology.   Driven by factors such as the emergence of a large number of biotechnology companies, increased R&D investment, and the capital market's investment and financing boom, the future ADC Drug research and development show the following development trends: 1 ) dual target / dual table bit ADC : In the future, combined with bispecific antibodies ADC Advantageous dual antibodies ADC Medication, or it could become a new solution ADC Effective solutions to the existing issues of drug endocytosis, toxicity, and resistance; currently, several domestic companies have made arrangements for bispecific antibodies ADC R&D, including BeiGene, Biorad, Sichuan Bailing, CanSino Biologics, Xuanzhu Biology, etc., are all in clinical development. I Phase or preclinical state. 2 Expansion of treatment areas: The treatment field has expanded from solid tumors, hematological malignancies, and other disease areas to non-tumor areas such as ophthalmic diseases and inflammatory infections. 3 ) Use two different payloads: Dual payload using two different cytotoxins as the active payloads ADC Reducing drug resistance. Delivering two synergistic payloads into cancer cells in precise proportions can increase drug effectiveness, and with the application of payloads with different mechanisms, the incidence of resistance will be significantly reduced. 4 )Usage ADC Targeted mutant protein: ADC Endocytosis and intracellular transport pathways ADC The cytotoxic activity has a critical impact; compared to wild-type proteins, mutant proteins typically have higher levels of ubiquitination, making them more readily internalized and degraded. If used ADC Targeted mutant proteins may have significant clinical effects. 5 ) Novel conjugated drugs NDC ): Newly developed conjugated drugs globally NDC The R&D enthusiasm continues to rise, and there are currently multiple peptide conjugates PDC Product launch; a variety of novel drug conjugate combinations are actively being developed to explore new therapeutic possibilities. Group photo of seminar speakers

New Chinese Drugs CMC GREAT WALL Forum   2022 year 11 month 3 day -4 On the day, the third China New Drug CMC The Summit Forum was grandly held, 600 Several distinguished guests gathered at the Shanghai Marriott Hotel Yuyou to discuss major plans for new drugs and participate in an innovative event.   Frost & Sullivan Frost & Sullivan Mao Hua, Partner and Managing Director of Frost & Sullivan's Greater China Region, was invited to attend the conference and speak on Global and China CDMO company Deliver a speech on the current market situation and future development trends.   Partner and Managing Director of Frost & Sullivan Greater China Region fattening   According to Mao Hua,   entrustment CDMO has become an important path for pharmaceutical companies to conduct drug research, development, and production. Both large pharmaceutical enterprises and startups can CDMO company Benefited from the high-quality services provided.    For pharmaceutical companies, CDMO It can reduce enterprise costs, improve R&D production efficiency, and promote technology iteration. Mao Hua said,   Driven by factors such as global capacity shifting and the rise in demand for innovative drugs domestically, China CDMO The driving force for the industry's development is very strong, and the prospects for its development are broad:     1 ) Significant talent and cost advantages attract global production capacity shifts:   CDMO For technology-intensive industries, links such as optimizing drug production processes require professional technical talents. China provides an abundant source of talent for the industry with graduates from biomedical-related majors every year. On the other hand, China also has significant cost advantages in logistics, raw materials, and energy.   2 The continuous injection of pharmaceutical R&D expenses will drive the enthusiasm for new drug research and development and production:   In recent years, the scale of pharmaceutical R&D investment in China has shown a steady growth trend, which has shifted from 2017 year 143 USD billion to 2021 year 290 billion US dollars. It is expected to continue expanding at a rate higher than the global R&D investment in the future. The increasing R&D expenditure will provide more active and abundant financial resources for innovative drug research and development, thereby boosting CDMO Market development.     3 The technology platform is constantly innovating and iterating to empower users. CDMO company Enterprise:   In recent years, there has been an increasing number CMO Enterprises are gradually becoming more involved in drug research and development, with strategic transformation as CDMO Enterprises and industry participants are also continuously upgrading their industries through the innovation of technology platforms and R&D capabilities.   4 The promulgation of industry policies and the implementation of systems have created a favorable environment:   The implementation of the Drug Administration Law marks MAH With the formal establishment of the system, decoupling production from R&D is conducive to promoting R&D-oriented enterprises and CDMO Institutional cooperation; national drug regulatory authorities have introduced pharmaceutical review reform measures, prioritizing the review and approval process to accelerate the launch of innovative drugs; volume-based procurement and medical insurance negotiations have expanded the pharmaceutical market. At the same time, price pressure has led to demands for cost control and production capacity flexibility, prompting pharmaceutical companies to prefer to entrust domestic operations. CDMO Enterprises implement outsourcing services.     "Global CDMO The industry is in a trend of continuous expansion and development, maintaining a high market prosperity level. In China CDMO The market is leveraging its advantages in talent, capital, technology, etc., to go global CDMO The market is playing an increasingly important role." Mao Hua said. Subsequently, Maohua then CDMO A detailed analysis is conducted on the development characteristics of market segmentation areas. According to the drug type, currently CDMO Sub-sectors can be mainly divided into small molecules CDMO Biopharmaceutical CDMO (including peptides / antibody / protein / Vaccines, etc.) and cellular gene therapy CGT ) CDMO Three major categories.   He pointed out, small molecules CDMO company The company has developed relatively mature R&D technologies and production capabilities, currently occupying a major share of the global and Chinese markets. In terms of biopharmaceuticals CDMO The market has been growing at a relatively fast pace in recent years. However, from the perspective of market structure, biopharmaceuticals CDMO The industry concentration ratio is significantly higher for smaller firms. The success rate of developing new molecular entity drugs is low, and a product from clinical I The success rate from phase trials to market approval is only 5.7% Market competition is becoming increasingly fierce, and pharmaceutical companies tend to engage with CDMO company The company collaborates to improve efficiency or develop high-tech barrier pharmaceutical formulations. The research and production of new, high-end complex formulations also pose new challenges to chemical pharmaceutical processes, small molecules CDMO company In order to address these challenges, the industry has built a series of advanced process technology platforms and expanded its range of service capabilities. In addition, in recent years, with the deepening research into disease mechanisms, drug development has gradually entered an era of precision therapy targeting specific targets. Correspondingly, there have been relatively significant changes in the nature of new drugs: drugs now have more accurate and selective targeted effects, with an increase in highly active pharmaceutical components; drug molecular weights have significantly increased and structures have become more complex; water solubility and permeability of drugs have decreased. A series of changes in the properties of new drugs have driven a growth in demand for corresponding emerging synthetic and formulation technologies, small molecules CDMO company The market grew accordingly.   Chinese small molecule CDMO company Market scale has shifted from 2017 year 103 RMB 10 billion, an increase of 2021 year 314 RMB 10 billion, with an average annual compound growth rate of 32.3% , is expected to arrive 2025 This number will grow to 1,103 RMB 10 billion, with an average annual compound growth rate of 36.9% . The Chinese biopharmaceutical market is growing rapidly, and its share in the global pharmaceutical market continues to climb, driving up demand for outsourcing services for biopharmaceutical research and development and production. In addition, CDE at 2017 reach 2021 Biopharmaceutical innovation drugs accepted during the year IND The number has surged, and the enthusiasm for innovative biopharmaceutical research and development is on the rise, targeting CDMO The demand is growing.   According to a study by Frost & Sullivan, Chinese biopharmaceuticals CDMO Market scale is from 2017 year 29 RMB 10 billion, an increase of 2021 year 159 RMB 10 billion, with an average annual compound growth rate of 52.7% , is expected to arrive 2025 This number will grow to 468 RMB 10 billion, with an average annual compound growth rate of 31.0% . Cell gene therapy CGT It has become a new generation of breakthrough precision treatment method with significant therapeutic advantages, and related clinical translation and commercialization are accelerating.   Mao Hua pointed out, CGT Industry characteristics with a high outsourcing rate, such as CGT The R&D and production barriers of products are high, making them more dependent on outsourcing R&D process services to advance clinical progress than traditional drugs, as well as CGT R&D costs for product development are much higher than those for traditional drugs, making R&D companies more willing to cut costs and thus tend to outsource. CDMO Cooperate. china CGT It has entered the early commercialization stage, and R & D enterprises CDMO Grow together, drive CGT The clinical progress of the product, reduced R&D costs, improved CGT Product accessibility.   Data shows, China CGT CDMO Market scale is from 2017 year 7 RMB 10 billion, an increase of 2021 year 18 RMB 10 billion, with an average annual compound growth rate of 28.9% , is expected to arrive 2025 This number will grow to 96 RMB 10 billion, with an average annual compound growth rate of 50.8% .   Overall, CDMO The industry will exhibit the following three development trends in the future:   1 ) CDMO company Leading enterprises make fixed asset investments through capacity acquisition or self-construction to ensure capacity support and provide flexibility in capacity supply. At the same time, leading enterprises will accelerate their pace of globalization expansion, explore international market territories, and further attract orders from home and abroad. 2 The market potential in emerging fields is huge, and at the forefront CXO Enterprises and R&D companies flocked in CGT CDMO Compete on the track; 3 small and medium-sized CDMO Enterprises choose to deeply cultivate niche markets, committed to building distinctive and differentiated technological advantages. In terms of technological advantages The sector seeks development space.   Finally, Mao Huaing stated that the Frost & Sullivan healthcare team is at CDMO The team has rich project experience in the industry, having served clients such as WuXi AppTec, CHERATech, Biotronics, Heyuan Biotech, Dongyao Pharmaceutical, and Kingsun Biotechnology. In addition, Frost & Sullivan has been continuously monitoring the Chinese CDMO company Industry market research, released CDMO "Research Report on the Current Development Status and Future Trends of the Industry", putting forward its own industry insights and viewpoints, hoping to serve as CDMO Market observers provide an important perspective for reference.   Recommended Reading