2022 Since the beginning of this year, affected by complex international situations and environmental changes, the global economic recovery and financial market fluctuations have been fraught with uncertainties. The 'New Asset Management Regulations' were officially implemented at the beginning of the year, and the financial ecological environment has continuously shown new changes. The asset management market has also entered a new development stage.   Against this backdrop, hosted by the Economic Observer "Integrate & Symbiate" 2022 Industrial investment + Asset Management Summit ” is held on 2022 year 7 month 26 Held online,   Frost & Sullivan Frost & Sullivan Zhang Jian, Partner and Managing Director of Frost & Sullivan's Greater China Region, was invited to attend the forum and delivered a speech on the latest global industry technology trends.     Zhang Jianhua centered on 2020 Year to 2025 This report conducts an in-depth study and interpretation of emerging technologies that promote work efficiency, introducing the trends in technology integration and convergence. AI Automation and robotics trends, as well as cybersecurity trends, are analyzed, and strategic advice and predictions are provided for each trend from 'macro to micro'. Trends in Technological Connectivity and Integration   According to a Frost & Sullivan survey, from 2020 Year-end 2025 In the year 37 100 million smartphones, 5.2 100 million wearable health-related devices and 7 Hundreds of millions of tablets. Device diversity will profoundly impact the backend and frontend of enterprises. Among all trends in technology connectivity and integration, AR Technology has the greatest potential for enterprise applications because it can improve performance while VR Technology has greater mobility. Zhang Jian stated that the number of users collaborating globally through enterprise social networks will continue to rise.   Currently, in North America alone, there are already more than 72% Enterprises are using internal social networking software for office work and communication. Smartphones, tablets, laptops, and current wearable devices will continue to improve people's work efficiency. Companies, even small and medium-sized enterprises, need to design a device strategy that considers long-term scalability and solution unification.   reach 2025 In 2021, the usage rate of wearable devices in workplaces will increase significantly, with the market growth rate for smart glasses expected to be the highest. Wearable devices, especially when combined with augmented reality functions, will achieve rapid growth in the enterprise sector. Workplace wearable devices will quantify and analyze employee behavior to help management make data-driven decisions, and the United States has already deployed this technology on a large scale and rapidly. The next big thing in big data is to transform structured and unstructured data into actionable predictions, such as using normative analytics hours, days, or even weeks in advance to avoid emergencies. As of 2025 In the year, most enterprises will engage in regular analysis. As association organizations monetize their data, data aggregation will become a key service, providing deeper insights through extremely large datasets.   In addition, 2025 year 3D The printing market will grow to 215 Billions of dollars, with the reduction in costs and increased choice of printing materials, it is expected that more manufacturers will fully adopt this technology in the future. AI Automation and robotics trends   reach 2021 In the year, the global automation market exceeded 800 billion US dollars, with the industrial Internet of Things sensor market exceeding 110 Billions of dollars highlight the importance of automated internet solutions in manufacturing. Given the potential scope of applications and the ongoing progress in security and usability, professional service robots will have a significant impact on future workplaces. Zhang Jian pointed out that one direction in artificial intelligence development is the shift from consumer-oriented personal digital assistants to enterprise digital assistants. However, before this technology develops formally, privacy and security issues still need to be addressed.   The improvement in artificial intelligence capabilities will continue to drive progress in most technology fields, with natural language processing and image recognition technologies serving as long-term enablers for customers looking to grow their businesses in the corporate sector. In terms of enterprise readiness, employees need to adapt to AI-derived technologies and corresponding outputs, which requires appropriate training and a workplace culture that is curious about technology and encourages participation.   Given industrial networking and sensorization, the Industrial Internet of Things will be in 2025 The year began with widespread adoption. Due to improved data quality and reduced latency, production is more sensitive to demand, leading to fundamental changes in manufacturing. Both technology providers and users will form their own ecosystems. For suppliers, providing holistic solutions is crucial for maintaining partnerships, while manufacturers will adopt the sharing economy model to reduce downtime. The industrial robot market is relatively mature, and continuous innovation and application will maintain a sustained growth trend. Data shows that 2025 In [year], the number of industrial robots in use globally may exceed 500 One hundred thousand units. Therefore, globally, manufacturing centers will become increasingly automated. Service robots will become more flexible and user-friendly, and there is a certain possibility that they could fundamentally change the way many types of work are done. "In other words, these robots, which are positioned as collaborative machines, still require human supervision rather than job replacements," said Zhang Jianshe. Network security trends Zhang Jian pointed out that with the growth of connectivity trends, cybersecurity incidents will increase and evolve, thus requiring all enterprises to continuously carry out defense work. At the same time, as cybersecurity becomes a higher priority for enterprises, new roles will emerge, such as Chief Information Security Officer (CISO). For enterprises, recruiting qualified information security administrators will become a continuous challenge. In the future workplace, cybersecurity will include emerging technologies such as blockchain and machine learning.   Network security information exchange centers that share threat intelligence will become increasingly popular, as the advantages gained from sharing information outweigh the competitive advantage brought by information secrecy. Globally, network security information exchange centers will play an important role in sharing threat mitigation strategies with organizations in developing countries, which may not have government support but still need protection to avoid endangering global value chains.   Countries will advance the implementation of cybersecurity strategies to protect the information of enterprises, citizens, and governments. However, by 2020 In [year], the global cybersecurity market was close to 1,550 billions, with a global shortage of skilled cybersecurity professionals reaching 200 One hundred thousand people urgently need investment in new talent. Industry application scenarios   Finally, Zhang Jian summarized, 'The technologies needed in future workplaces (especially those stemming from AR , AI Connected technologies (IoT) will affect the working environment of most industries, leading to an overall improvement in productivity. The agricultural sector will adopt more robots, autonomous platforms, and aerial vehicles to increase yields and input accuracy, compensating for rising labor costs and shortages. Due to the integration of automation, the internet, and data analysis technology, industrial IoT technology will stand out in office technology scenarios within the industrial field. In office settings, artificial intelligence and big data technology can identify patterns that were previously unrecognizable and improve work efficiency by automating time-consuming tasks.

The 1st New Investment Expo 2022 The 16th Frost & Sullivan Global Growth, Innovation and Leadership Summit September 27 - 28, 2022   The 1st New Investment Expo 2022 and the 16th Frost & Sullivan Global Growth, Innovation and Leadership Summit (The following is referred to as the 'Conference') will be held at the Shanghai International Convention Center from September 27th to 28th. This conference is co-hosted by Frost & Sullivan (Frost & Sullivan, abbreviated as: Frost & Sullivan), Titanium Media, Roadshow China, and Huajun Media Group, with LeadLeo providing co-ordination. The conference aims to create the premier platform for corporate investment and financing, contributing to sustainable and high-quality development.   The inaugural New Investment Expo will passionately create a grand event for investment and financing. During the two-day New Investment Expo, hundreds of high-quality projects will gather at the site, presenting a hundred exciting roadshows to nearly a hundred leading investors.   The 16th Frost & Sullivan GIL Summit consists of one main forum and multiple sub-forums. The main forum brings together industry insights and investment trend perspectives, covering topics such as macro trends, value investing, big health, new energy, and mass consumption. On-site announcements will include the "CHUANG ·Set Sail" list of global emerging technology startups, the IPO performance report of Chinese private equity funds, the white paper "The Digital Transformation of Private Equity CFOs Aligns with the New Era Development Wave," and the list of CFOs of Chinese private equity funds, among other significant "new investment" research findings. Nearly a hundred representatives from governments, investment institutions, financial institutions focusing on industrial development, as well as universities and research experts, will jointly interpret market development opportunities and goals, discuss the decisive factors for corporate growth and success, anchor forward-looking future investment directions, and promote the symbiotic prosperity of industrial value and capital energy.   Offline Roadshow Sub-forum for Listed Companies Companies listed on Hong Kong and US stock exchanges in hot sectors such as the internet, mass consumption, TMT, biomedicine, intelligent manufacturing, real estate property, etc., will participate and share their insights. They will join hands with nearly a hundred institutional investors and securities firm researchers to look ahead at new economic trends and exchange ideas about the Hong Kong and US investment markets.   Biotechnology Investment Sub-forum We will focus on the new trends in biotech investment and financing post-pandemic era, jointly interpret the future investment directions of the biotech industry, and explore the key factors for corporate growth and capital market success.   The GIL Summit, established by Frost & Sullivan, has a history of nearly 30 years and is held in over 20 countries and regions around the world. Since its inception in China in 2008, the Frost & Sullivan GIL Summit has become an important platform for outstanding enterprises from various sectors in China to exchange successful experiences and jointly discuss development directions. It is also a vital window through which the world understands China's most cutting-edge development trends.   The 16th Frost & Sullivan GIL Summit in 2022 is set to make a comeback, and we look forward to meeting you by the Pujiang River to enjoy a value-for-money event!   The registration entrance for the conference audience has been officially opened.                                  

Frost & Sullivan insights 7 month 22 day, the first batch 25 The shares of listed companies on the Sci-Tech Innovation Board that were subject to a three-year lock-up period began to be traded on the market. Currently, no company has disclosed any plans for reducing the holdings of restricted shares. Overall, market sentiment has not been significantly affected by the lifting of the restrictions. 25 The company's stock price has performed steadily, 10 The price rose, 15 Only down, with an average slight decline 0.51% .   Frost & Sullivan Frost & Sullivan, Mr. Wang Chenhui, Managing Partner and Executive Vice President of Frost & Sullivan Greater China, was interviewed by Securities Daily. 25 Market dynamics on the first trading day of share lifting restrictions for companies listed on the Sci-Tech Innovation Board before their initial public offering 2022 Second half of the year outlook. Securities Daily 7 month 22 day, the first batch 25 The shares of listed companies on the STAR Market that are subject to a three-year lock-up period have begun to be traded on the market. Currently, no company has disclosed any plans to reduce their restricted shares. On the contrary, there have been previous instances. 11 Company shareholders have successively stated that they will not reduce their holdings of restricted shares or extend the lock-up period of restricted shares. Overall, market sentiment has not been significantly affected by the lifting of restrictions. 25 The company's stock price has performed steadily, 10 The price rose, 15 Only down, with an average slight decline 0.51% . "The first batch to go public 25 The market performance of listed companies basically met market expectations. "Wei Fengchun, chief economist at CGB Fund, told the Securities Daily that overall, the market performance of companies on the Sci-tech Innovation Board is affected by fundamentals and trading levels. Fundamentals include company performance, business direction, governance structure, etc. For companies that align with industry development directions, have stable performance, and stable corporate governance, investors' confidence in long-term holding increases, resulting in relatively smaller fluctuations. From a trading perspective, it is mainly affected by investor sentiment, which was previously influenced by the first batch..." 25 The lifting of the lock-up period for listed companies has been anticipated, and sentiment has been fully released. 25 enterprise No firm has announced a reduction in holdings The reporter noted that as of 7 month 22 day, the first batch 25 Among the companies listed on the Sci-Tech Innovation Board, none have disclosed their plans to reduce their restricted shares. According to the reduction rules, major shareholders, directors, supervisors, and senior management personnel who reduce their shares through centralized competitive bidding transactions should do so in advance. 15 Pre-disclosure was made on a trading day, but currently no company has issued a reduction in holdings announcement. "This indicates that the company's controlling shareholders, actual controllers, major shareholders, etc., are very confident in the industry outlook and the company's future development, and are optimistic about the company's long-term stable development." Wang Chenhui, managing partner and executive vice president of Frost & Sullivan Greater China, told a reporter from Securities Daily that the establishment of shareholder confidence is based on the company's past good development, from the past 3 Looking at the development in [specific year], many enterprises achieved double-digit performance growth. Despite the impact of the pandemic, these enterprises still demonstrated solid business performance, reflecting the resilience of enterprise development and the high growth potential of the Sci-Tech Innovation Board. "The fact that no company has disclosed a reduction in holdings indicates a high probability of long-term shareholding by shareholders," Wei Fengchun said. These companies have a relatively large number of technology personnel holding shares. Against the backdrop of the digital economy, new energy, new models, and new commercial consumption upgrades, the development of these companies aligns with China's policy expectations, industrial expectations, and consumer demand expectations, offering good prospects for long-term investment. Gui Haoming, chief market expert at Shenwan Hongyuan, analyzed to the Securities Daily reporter that currently 25 Among the listed companies on the STAR Market, none have disclosed their share reduction plans, which is due to multiple reasons. On one hand, some shareholders may believe that the current period is not the optimal time for reducing holdings; not reducing now does not mean they will not in the future. On the other hand, there are various channels for reducing shares of listed companies, such as block trades, which require a process of coordination and arrangement, and may not have yet reached a point where it is inevitable. "Reduction of holdings is an important means for shareholders to exit their assets. For investors, they should not expect shareholders not to reduce their holdings, and at the same time, shareholders should also reduce their holdings rationally, rather than through liquidation." Gui Haoming said. In fact, many companies on the Sci-tech Innovation Board have given the market a 'peace of mind' pill before their lifting of restrictions. 11 Company shareholders have announced that they will either not reduce their holdings of restricted shares or extend the lock-up period of these shares, expressing long-term confidence in the company's development prospects. The reporter sorted out and found, 11 Among the companies, there are Huaxingyuan Chuang, Tianyi Shangjia, Jiayuan Technology, etc. 6 Shareholders have promised not to reduce their holdings of restricted shares. China Telecom, Rongbai Technology, etc. 4 Shareholders of the enterprise stated that they are extending the lock-up period for restricted shares. For example, the controlling shareholder of China Railway Signal & Communication Group Co., Ltd. stated that as of 2022 year 7 month 22 Voluntary extension of lock-up period starting from the expiration date of daily limit order 6 Month to 2023 year 1 month 21 day. Second half of the year for the Sci-tech Innovation Board The performance growth trend will continue On the surface, the 'hesitant to sell' restricted shares held by shareholders of Sci-Tech Innovation Board companies reflect their optimism about their own company's stock price. Fundamentally, the foundation supporting the stock price of listed companies is good performance. From this perspective, the Sci-Tech Innovation Board, which has high growth characteristics, is a resource pool that gathers long-term high-quality value investment targets. The reporter sorted out and found that as of 7 month 22 Japanese reporters have released their articles, and so far 47 Companies listed on the Sci-Tech Innovation Board disclosed their semi-annual performance data through forms such as semi-annual reports, performance bulletins, and performance forecasts, showing overall good performance. Specifically: 47 In the company, 37 The company's performance is expected to increase, 3 The company turned losses into profits, accounting for a total 85% Among them, 13 The company expects the growth rate of net profit attributable to the parent company to exceed 100% , accounting for more than 30%. Gui Haoming stated that, based on the situation in the past two years, the profit growth of companies listed on the Sci-Tech Innovation Board has generally outpaced other sectors, and it is expected to continue growing in the first half of the year. However, due to uneven market development, there are significant disparities within the Sci-Tech Innovation Board, including both companies with excellent performance and those experiencing local losses. Historically, the first three years have been the golden period for the development of companies listed on the Sci-Tech Innovation Board, during which the development speed would significantly accelerate. Overall, the listed companies on the Sci-Tech Innovation Board are relatively small and are in the growth stage, so the performance growth trend will continue into the second half of the year. "The Sci-tech Innovation Board (STAR Market) has high growth characteristics. Investment in the STAR Market should not be too short-sighted, but rather recognize its long-term investment value," said Wei Fengchun. In the STAR Market, investments related to mid- to high-end manufacturing account for a relatively high proportion and their growth rate is also increasing, which has promoted the stability of the industry chain and industrial demand on the STAR Market. Against this backdrop, growth stocks that have withstood market tests, especially those with a high content of 'hard technology,' as well as companies with a well-implemented governance structure that integrates business models and technological growth, can be held for the long term. Wang Chenhui stated that in the second half of the year, more technology innovation enterprises from different fields will list on the Sci-tech Innovation Board. Through their own technological innovation and integrated development with the capital market, these enterprises will accelerate their growth, thereby leading the development of various technology innovation fields and boosting the overall economic growth recovery and structural optimization of our country. In terms of industries, key national strategic sectors such as new energy, electronics manufacturing, and biomedicine, which possess leading-edge technology innovation capabilities, will be areas with good investment opportunities.   * This article is reprinted from 'Securities Daily', with reporters Xing Meng and Wu Xiaolu. , Original title: 'The First Batch 25 The first day of share lifting restrictions for companies listed on the Sci-tech Innovation Board before their initial public offering: The Sci-tech Innovation Board is operating smoothly "The market is optimistic about the long-term investment potential of enterprises".

Frost & Sullivan insights   As of 7 month 22 On this day, there are a total of 13 listed companies on the Sci-Tech Innovation Board in the Yangtze River Delta region consisting of "three provinces and one municipality". 203 Home (Shanghai 65 Home, Jiangsu 85 Home, Zhejiang 37 Home, Anhui 16 (homes), accounting for the total number of sector companies 46% ; Total funds raised at the initial public offering 3175.90 100 million yuan, with an average fundraising 15.64 100 billion yuan. The Sci-tech Innovation Board has opened    For three years, the Yangtze River Delta region has continuously provided the Sci-Tech Innovation Board with 'fresh water from the source'. Among the listed companies on the Sci-tech Innovation Board, the Yangtze River Delta region accounts for nearly half. What factors are behind the Yangtze River Delta region becoming the main force in listing on the Sci-tech Innovation Board? Can the Yangtze River Delta region continue to maintain its leading advantage in the future? Will the resource advantages of science and technology innovation in the Yangtze River Delta region feed back into the Sci-tech Innovation Board, promoting its growth and strengthening?   Frost & Sullivan Frost & Sullivan, Dr. Wang Xin, Global Partner and President of Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), was interviewed by China Securities Journal to discuss the impact of the Yangtze River Delta region on the Science and Technology Innovation Board (STAR Market) and its future prospects. China Securities Journal On the occasion of the third anniversary of the opening of the Sci-tech Innovation Board, two Yangtze River Delta enterprises, Longda Co., Ltd. and Guobang Electronics Co., Ltd., were listed on the Sci-tech Innovation Board today. Looking back, enterprises in the Yangtze River Delta have witnessed every significant moment at the opening anniversary of the Sci-Tech Innovation Board. One year ago today, Suzhou Ruikeda was listed on the Sci-Tech Innovation Board; two years ago today, Shanghai Sansheng Guojian, and others 4 Parent Triangle Enterprises Listed on the Sci-tech Innovation Board; Three Years Ago Today, the First Batch of Companies Listed 25 Among the companies listed on the Sci-tech Innovation Board 12 I come from the Yangtze River Delta region. For three years, the Yangtze River Delta region has continuously provided the Sci-Tech Innovation Board with 'fresh water from the source'.   Industry insiders believe that the Sci-Tech Innovation Board and the resource advantages of scientific innovation in the Yangtze River Delta region have formed a virtuous cycle of symbiosis and mutual benefit.   On one hand, the birth of the Sci-Tech Innovation Board has provided capital support to technology enterprises in the Yangtze River Delta region, enabling them to develop rapidly. On the other hand, the demonstration and leading effect has begun to emerge. In the future, more science and technology innovation enterprises with 'hard technology' attributes will list on the Sci-Tech Innovation Board in the Yangtze River Delta region, further promoting the growth and strengthening of the board. Be the "Pioneer" of Sci-Tech Innovation Board The Yangtze River Delta encompasses Jiangsu, Zhejiang, Anhui, and Shanghai “s three provinces and one municipality&rdquo. In recent years, scientific and technological innovation in the Yangtze River Delta has witnessed significant development, with the organic interaction between hard technology enterprises in the region and the Sci-Tech Innovation Board being one microcosm of this progress. As of 7 month 22 On this day, there are a total of 13 listed companies on the Sci-Tech Innovation Board in the Yangtze River Delta region consisting of "three provinces and one municipality". 203 Home (Shanghai 65 Home, Jiangsu 85 Home, Zhejiang 37 Home, Anhui 16 (homes), accounting for the total number of sector companies 46% ; Total funds raised at the initial public offering 3175.90 100 million yuan, with an average fundraising 15.64 100 million yuan. Specifically, in terms of industry segmentation, industries such as new-generation information technology, biomedicine, and high-end equipment are significantly concentrated within the Yangtze River Delta region. Especially in the fields of integrated circuits and biomedicine, a full industrial chain layout has been formed. In terms of enterprise types, the Sci-Tech Innovation Board also demonstrates a high level of inclusiveness in corporate listings within the Yangtze River Delta region. Over the past three years, enterprises from the Yangtze River Delta have won several 'firsts' on the Sci-Tech Innovation Board. For example, SMIC became the first company on the board to... A+H ”Red-chip enterprises and IPO listing The fundraising amount ranks first, and Zhejiang Genomics & Therapeutics Co., Ltd. becomes the first company on the Sci-tech Innovation Board to be listed. A Huaren Microelectronics, the first Sci-tech Innovation Board company to list after the market opened for unprofitable enterprises and the first to adopt the fifth set of standards, became the first red-chip listed company on the Sci-tech Innovation Board. It also introduced the 'Green Shoe Mechanism' first, making Youke Digital the first Sci-tech Innovation Board company with different classes of shares. In terms of the highly anticipated innovation and entrepreneurship achievements, 2021 In the year, the total R & D investment of listed companies on the Sci-tech Innovation Board in the Yangtze River Delta reached 387.99 Yuan, a year-on-year increase 26% The average proportion of R&D investment to operating revenue is 12% Among them, there are a total of 63 Home Sci-Tech Innovation Board companies have been selected into the national list of specialized, refined, distinctive and innovative "little giant" enterprises, accounting for 31% . In the view of industry insiders, the Yangtze River Delta region is one of the strongest areas in China for scientific research innovation, economic development, openness, and capital inclusiveness. The excellent business environment and policy support for science and technology innovation industries in the Yangtze River Delta are conducive to the establishment, development, and rapid growth of science and technology innovation enterprises. Tao Dongyan, head of the Smart Seed Innovation Research Center, told China Securities Journal reporters: 'Yangtze River Delta's science and technology innovation enterprises have certain advantages over the overall Sci-Tech Innovation Board in some indicators. On one hand, this is due to the active atmosphere for scientific and technological innovation among enterprises in the region, as well as the vigorous development of small and medium-sized enterprises. On the other hand, it is also related to policy encouragement and guidance. In the context of regional integration development, the Yangtze River Delta actively encourages local technology companies to list on the Sci-Tech Innovation Board at both institutional and operational levels.'   Joint efforts to help enterprises in the Yangtze River Delta "make it to the top" The formation of the strength of the Yangtze River Delta's science and technology innovation board cannot be separated from the assistance of all parties. It is precisely because a relatively good interaction has been established among local governments, regulatory authorities, enterprises, and financial capital within the Yangtze River Delta region that they can jointly cultivate and promote the development and growth of the science and technology innovation enterprises in the region. A reporter from China Securities Journal learned from the Shanghai Stock Exchange that it has strengthened collaboration and exchanges with local governments such as those in Shanghai, Jiangsu Province, Zhejiang Province, and Anhui Province. A working mechanism for paired services has been established, with market service personnel providing specialized services to corresponding regions. For example, the Yangtze River Delta Capital Market Service Base was jointly established by the People's Government of Pudong New Area, Shanghai and the Shanghai Stock Exchange, starting from 2018 year 11 Since its unveiling and launch, the system has focused on serving the national strategy of integrated development in the Yangtze River Delta and the tasks of the registration-based IPO system reform on the Sci-Tech Innovation Board. It has constructed an integrated service network for the Yangtze River Delta and a full-life-cycle innovation finance ecosystem. By tapping into Yangtze River Delta science and technology innovation enterprises willing to go public, a reserve pool has been formed. - cultivation library - The "reservoir" of the recommended database promotes capital support for science and technology innovation enterprises in the Yangtze River Delta.   Wang Xin, Global Partner at Frost & Sullivan and President of Greater China, introduced that the Yangtze River Delta Capital Market Service Base has not only pioneered the listing discovery and cultivation function nationwide but also the pre-listing review and evaluation function. By constructing a pre-review scoring system based on the listing standards and key points of inquiry for the Sci-tech Innovation Board, it provides comprehensive scoring for enterprises, addressing various difficulties in listing on the Sci-tech Innovation Board. 'The Yangtze River Delta Capital Market Service Base has injected strong momentum into the vigorous development of the region,' said Wang Xin. "Judging from the current operational reality, the Shanghai Stock Exchange has achieved significant results in serving technology innovation enterprises in the Yangtze River Delta." A relevant person in charge of the Shanghai Stock Exchange stated that in the future, the exchange will continue to deepen the integration and linkage of financial elements with scientific and technological innovation resources, further streamline the enterprise listing service chain, cultivate and empower technology innovation enterprises in the Yangtze River Delta, and make positive contributions to helping the Yangtze River Delta achieve high-quality integrated development. The 'reserve force' is strong Tech innovation enterprises are born in technology and thrive in finance. After listing on the Sci-Tech Innovation Board, enterprises from the Yangtze River Delta have made significant progress. The data shows, 2021 In total, listed companies on the Sci-Tech Innovation Board in the Yangtze River Delta region achieved operating revenue 3998.63 Yuan billion, growth 39% ; Realize net profit attributable to the parent company 523.84 Yuan billion, growth 78% Among them, 90% of the companies saw an increase in operating revenue. 22 The company's revenue has doubled; recently 7 The net profit attributable to the parent company has increased. 39 The company's profit growth rate is at 100% As mentioned above, the highest profit increase reached 12 times. Headquartered in the Shanghai region, in 2019 year 7 Microsemi, listed on the Sci-tech Innovation Board 2021 The company's operating revenue and net profit attributable to the parent company both reached record highs, reaching 31.08 yuan 10.11 Yuan. Yin Zhiyao, Chairman of Zhongwei Company, told China Securities Journal reporters: 'With the support of the capital market, the company has broadened its financing channels, enhanced its market brand, brought more cooperation opportunities, and achieved rapid development. To better motivate the management team and employees, the company also implemented a Class II restricted stock incentive plan that basically covers all employees after going public.' In the view of industry insiders, the integration development process in the Yangtze River Delta places great emphasis on the boost that the Sci-tech Innovation Board (STAR Market) can provide to technology. As the STAR Market facilitates financing for science and technology innovation enterprises in the Yangtze River Delta, these listed companies have also played a demonstrative and leading role invisibly, attracting more 'hard technology' enterprises from the region to apply for the STAR Market and actively promoting the integrated economic development of the Yangtze River Delta. According to statistics by China Securities Journal reporters, looking at the situation of companies planning to go public, the Yangtze River Delta's strength as a 'reserve force' for the STAR Market is very substantial, including those planning to raise funds. 650 Yuan-billion agricultural giant Syngenta Group, Guofu Hydrogen Energy and other specialized & innovative 'little giants'.   * This article is reprinted from China Securities Journal , The reporter is Huang Yiling, and the original article's title is 'Demonstration Leading Effect Emerges The Yangtze River Delta's strength supports the development of a new highland for the Sci-Tech Innovation Board». Frost & Sullivan Insight & Extended Readings   Q Among the listed companies on the Sci-tech Innovation Board, the Yangtze River Delta region accounts for nearly half. What factors are behind the Yangtze River Delta region becoming the main force in listing on the Sci-tech Innovation Board? Can the Yangtze River Delta region continue to maintain its leading advantage in the future? A :   till 2022 year 7 month 1 On 432 Among them, the number of listed companies on the Sci-Tech Innovation Board in the Yangtze River Delta region is 197 The total number of listed companies on the Sci-tech Innovation Board 45.6% It ranks first. The Yangtze River Delta region has become one of the regions in China with the largest number of companies listed on the Sci-Tech Innovation Board, the highest total market value, and the largest proportion of market value scale.   The Yangtze River Delta region is one of the areas in China with the strongest scientific research innovation, economic development, openness, and capital inclusiveness. It occupies an important position in the country's modernization drive and international open development strategic layout.   Relevant favorable policies have further promoted the economic and scientific and technological innovation development in the Yangtze River Delta region, for example: 2019 In the Outline of the Development Plan for Regional Integration in the Yangtze River Delta Region issued by various ministries and commissions of our country in [year], it is proposed that by 2025 In [year], the integrated development system of science and technology innovation industries was basically established; the regional collaborative innovation system was largely formed, becoming an important innovation source in the country. At the same time, high-growth innovative enterprises in the Yangtze River Delta region are encouraged to list on the Sci-tech Innovation Board for financing.   The excellent business environment and policy support for science and innovation industries in the Yangtze River Delta region are conducive to the establishment, development, and rapid growth of science and innovation enterprises.   Therefore, the Yangtze River Delta region has incubated a large number of science and technology innovation enterprises that have gone public on the Sci-tech Innovation Board for financing, becoming the main force in listing on the board. The establishment of the Sci-Tech Innovation Board has actively promoted the integrated economic development of the Yangtze River Delta. In the long run, the Yangtze River Delta region has relatively favorable entrepreneurial conditions, with clear assistance policies for various related industries and rich industrial resource advantages.   In the future, the Yangtze River Delta region will continue to incubate a large number of emerging technology startups that will go public on the Sci-tech Innovation Board and maintain its leading edge. Q The Sci-Tech Innovation Board has provided convenience for financing of science and technology innovation enterprises in the Yangtze River Delta. In the future, will the resource advantages of science and technology innovation in the Yangtze River Delta feed back into the Sci-Tech Innovation Board to promote its growth and strength? Is there already such a trend now? A :     The Sci-Tech Innovation Board and the resource advantages of science and technology innovation in the Yangtze River Delta have formed a virtuous cycle of symbiosis and mutual benefit.     In order to effectively serve the science and technology innovation enterprises in the Yangtze River Delta region, financial capital has joined hands with local governments to establish a Yangtze River Delta Capital Market Service Base, injecting strong momentum into the vigorous development of the region. since 2018 year 11 Since its unveiling and launch, the Yangtze River Delta Capital Market Service Base has been continuously innovating, not only   The country's first listing discovery and cultivation function   : Established three resource libraries, namely the Yangtze River Delta Science and Technology Innovation Enterprise Reserve Library, Cultivation Library, and Recommendation Library;   Innovative pre-listing review and evaluation feature   : Construct a pre-examination scoring system by comparing with the listing standards and key points of listing review inquiries of the Sci-tech Innovation Board. Combine the opinions of the Shanghai Stock Exchange and industry experts to comprehensively score enterprises, and evaluate the scores. 80 For enterprises marked above with “Recommended for Declaration”, we address various difficulties in listing on the Sci-tech Innovation Board. Supported by the Capital Market Service Base, Yangtze River Delta G60 The Sci-Tech Innovation Corridor strategy has begun to show results. 2022 In the first half of the year, companies listed in Jiangsu Province and Shanghai alone accounted for one-third of the total number of companies listed on the Sci-tech Innovation Board, with 11 home, 6 The company; its listed company ranks among the top in terms of fundraising amount, with the respective fundraising amounts being 250.25 yuan, 145.63 100 million yuan.   The Yangtze River Delta's science and technology innovation ecosystem will continue to make efforts in the future, strengthening its ability to serve the real economy through financial services, cultivating and incubating highly competitive enterprises listed on the Sci-tech Innovation Board (STAR Market), and promoting the growth and strength of the STAR Market.

Frost & Sullivan insights 2022 year 7 month 22 Today marks the third anniversary of the launch of the Sci-Tech Innovation Board. Over the past three years, there have been a total of [X] listed companies on the Sci-Tech Innovation Board. 439 home, IPO listing The financing amount exceeds 6,400 100 billion yuan, total market value exceeds 5.5 trillion yuan. Compared with other sectors, the Sci-tech Innovation Board has become A The sector with the fastest growth in R&D investment and the highest intensity of investment over the past three years.   The institutional innovation of the Sci-tech Innovation Board in the past year A What impacts and lessons can be drawn from the equity capital market ecosystem? What more promising changes are expected for the Sci-tech Innovation Board in the next three years? Frost & Sullivan Frost & Sullivan, Dr. Wang Xin, Global Partner and President of Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), was interviewed by China Securities Journal to discuss the three-year journey of the Sci-tech Innovation Board and its future development trends. China Securities Journal Tides rise on the shores of the East China Sea. The theme of the era of technological innovation surges in the capital market, riding the waves, while on the land of China, tides are high and the waves are rough. The Sci-Tech Innovation Board was born to meet this trend, playing the role of a brave adventurer in the tide's current. Three years ago, as the sound of gongs rang along the banks of the Huangpu River, the team for the Sci-tech Innovation Board gradually grew stronger, and a "hardcore technology" era that integrated national strategies for self-reliance through science and technology with high-quality capital markets quietly arrived. Looking back on the three-year growth journey of the Sci-Tech Innovation Board, changes have quietly “descended upon us”. Today's Sci-Tech Innovation Board features a more open and inclusive system, a more prominent focus on “rugged technology”, stronger growth potential, industrial chain clusters with more concentrated effects, and market-oriented new share pricing. The word “rugged” at the forefront attracts investors, and the Sci-Tech Innovation Board, which has embarked on a path of distinctive development, continues to attract the attention of more innovative technology companies. Enterprises in various sub-sectors carry dreams and passion, moving from fields, production lines, laboratories to the capital market, eager to nurture new vitality and strength through the fertile soil of the Sci-Tech Innovation Board. Seize the opportunity to forge ahead into a new chapter, and set sail anew with renewed vigor. For the Sci-tech Innovation Board (STAR Market), which was born for the innovation-driven development strategy, three years have marked the beginning of a "full market cycle" operation. With unchanging original aspirations and relentless dedication, in the context of an era that relies on innovation to improve development quality, the STAR Market, as a "test field" for capital market reform, will continue to move forward swiftly, taking on the mission of leading economic development towards innovation-driven transformation, and further promoting a virtuous cycle of scientific and technological innovation, capital, and industry. Over the past three years: 6348 100 million yuan for R&D of "living water" irrigation technology 437 Listed company, 5.56 trillion yuan total market value, 6348.34 100 million yuan IPO listing Fundraising amount...…&hellip>As of 2022 year 7 month 21 Today, the report card of the three-year-old Sci-Tech Innovation Board. From the perspective of industry distribution, 437 The company is highly concentrated in high-tech industries and strategic emerging industries. Among them, the new generation information technology industry 150 Home (Proportion 34.32% ), high-end equipment manufacturing industry 99 Home (Proportion 22.65% ), biomedicine industry 93 Home (Proportion 21.28% ), new material industry 39 Home (Proportion 8.92% ), energy conservation and environmental protection industries 32 Home (Proportionality 7.32% ), new energy industry 24 Home (Proportion 5.49% ). at 6348.34 100 million yuan IPO listing Behind the fundraising amount is the "development process" of hard technology companies that rely on the Sci-Tech Innovation Board to break through capital "bottlenecks," devoting themselves wholeheartedly to R&D and innovation. 2018 Based on the annual R&D investment amount, the compound growth rate of R&D investment in the Sci-Tech Innovation Board over the past three years is 29% The average R&D investment per company has decreased from 2018 year 0.95 RMB billion growth to 2.05 Yuan, with the R&D investment intensity maintained at nearly 13% at a high level. Compared with other sectors, the Sci-tech Innovation Board has become A The sector with the fastest growth in R&D investment and the highest intensity of investment over the past three years. China Securities Journal reporters have noticed that the fundraising projects of companies listed on the Sci-tech Innovation Board (STAR Market) are generally focused on the field of technological innovation, with all companies arranging for R&D-related fundraising projects. After going through the 'polishing and tempering' process following listing, some STAR Market companies' fundraising projects have achieved phased results. Listed in the first year of the market opening 70 Taking a company listed on the Sci-tech Innovation Board as an example, as of 2021 At the end of the year, the overall progress of these companies' initial public offering fundraising was approximately 54% At the same time, companies on the Sci-tech Innovation Board have leveraged fundraising and investment projects to achieve capacity expansion and upgrading, with initial economic benefits emerging. For example, Jiayuan Technology 5000 ton / The technical transformation project for high-performance copper foil for new energy power batteries in the year has been basically completed. 2021 Realize economic benefits in the year 1.41 100 million yuan. 2020 The companies listed on the Sci-tech Innovation Board in 2023 have also seen "good news after good news" regarding fundraising and investment projects. Wu Yunkun, President of Qianxin Information Technology Co., Ltd., said: "The company's fundraising and investment projects mainly consist of R&D projects, with most of the project implementation cycles being..." 2 Around the year 2023, most projects will enter the final phase, and individual fundraising investment projects have been completed. The implementation of fundraising investment projects has greatly enhanced the company's technical capabilities, strengthened its channel construction, and improved its digital management level. "One of the company's fundraising projects is an annual output of 40,000 ton / The annual production of sebacic acid by biological method has currently entered the commissioning phase, but it still takes some time from commissioning to full production. 'Liu Xiucai, chairman of Kaesai Bio, revealed. In the view of listed companies on the Sci-tech Innovation Board, current R&D investment, including fundraising projects, will transform into a driving force supporting the sustainable development of enterprises. Liu Xiucai introduced that several products that Kaisai Biotech has industrialized are based on independently developed achievements, which provide efficient and strong guarantees and support for the company's sustainable development. At the Shanxi production base, Kaisai Biotech is building an annual output of 50 Ten thousand tons of glutaraldehyde and annual output 90 The ten-thousand-ton bio-based polyamide project will elevate the company's overall production capacity and scale. Yin Zhiyao, Chairman of Zhongwei Company, said bluntly: 'Continuous high-level R&D investment is the key for the company to maintain its core competitiveness. This provides assurance for the company's independent research and development and innovation in advanced technologies globally, focusing on high-end micro-processing equipment. The company is accelerating the construction of projects such as Shanghai Lingang and Nanchang production bases, further expanding the capacity of high-end equipment, and continuously improving the level of R&D investment and product technological innovation.' This Year: Releasing New Momentum for Reform through Institutional Innovation Innovation and reform are the permanent 'vitality' of the Sci-Tech Innovation Board. Over the past three years, the Sci-Tech Innovation Board has been pioneering, not only creating one remarkable achievement after another but also supporting a new world for 'hard technology' enterprises. In the first two years of its operation, the Sci-tech Innovation Board (STAR Market) has continuously made institutional innovations in information disclosure, mergers and acquisitions, refinancing, equity incentives, inquiry-based transfers, and other areas. In the past year, the "experimental field" has achieved another fruitful result, with a series of innovative systems being implemented and yielding tangible benefits. This year, the new rules for new share inquiry and pricing were officially implemented. Entrusting the market with its own selection is the essence of the registration-based reform, and market-oriented issuance pricing is the core link of this reform. The implementation of the new rules for new share inquiry and pricing last year 9 Since the implementation of the policy, buyer competition has intensified, effective bid ranges have expanded, and the pricing efficiency of new shares has further improved. The phased 'group bidding' phenomenon in the early stages has also significantly improved. This year, the first stock from the Beijing Stock Exchange's transfer listing to the Sci-tech Innovation Board was listed on the Sci-tech Innovation Board. This year 5 In January, Guandian Defense Technology was listed on the Sci-tech Innovation Board, marking the true interconnection of China's multi-level capital market. As the first company to achieve a transfer of listing status at the operational level, Guandian Defense Technology has not only become a demonstration case for effective connectivity between China's multi-level capital markets but also provided a new model for high-quality small and medium-sized enterprises to develop through the capital market, which helps to further stimulate market vitality. In this year, the guidance on the application of the fifth set of listing criteria for medical device companies on the Sci-Tech Innovation Board was released. The fifth set of listing criteria supports companies in the R&D phase that have not yet generated a certain level of revenue and fully reflects the inclusive charm of the Sci-Tech Innovation Board. With the expansion of the fifth set of criteria to the medical device industry, it can encourage more medical device companies in the R&D breakthrough stage to carry out research and development of key core technologies. This year, the market maker system for the Sci-tech Innovation Board (STAR Market) was implemented. Currently, the trading systems in mature overseas stock markets are mainly a hybrid of market maker and competitive bidding trading systems. As an emerging market facing internationalization, it is an unshirkable mission for the STAR Market to align with international systems. The introduction of the market maker system on the STAR Market helps to further enhance the liquidity of STAR Market stocks, strengthen market resilience, and better promote sector construction. This year, Sci-Tech Innovation Board ESG The disclosure of information is in the ascendant. This year 1 In January, the Shanghai Stock Exchange clearly stated that companies listed on the Sci-tech Innovation Board should disclose in their annual reports ESG Relevant information, which shall be compiled and disclosed separately as appropriate. ESG Reports, etc. As of 2021 The annual report disclosure has ended, and all companies on the Sci-tech Innovation Board have disclosed it in their annual reports ESG Relevant information, 95 The company compiles and publishes its own social responsibility report or ESG Report, presenting investment value to investors in multiple dimensions. This is also the first time in China that a listed company ESG Exploration of information disclosure norms has had a positive exemplary effect on the main board, ChiNext, and other markets. Wang Xin, Global Partner at Frost & Sullivan and President of the Greater China Region, said: 'The institutional innovation related to the Sci-tech Innovation Board in the past year has been beneficial to China's capital market, especially A Further improvement of the stock market supervision system. The innovation of the Sci-tech Innovation Board (STAR Market) system provides more detailed document guidance for enterprises seeking initial public offerings or transfer listings, and the refinement of the system has created a better investment environment for a wide range of investors. The innovative provisions of the STAR Market effectively constrain financial market investment activities while ensuring reasonable market liquidity, which is conducive to the long-term sustainable development of China's capital market ecosystem. Looking ahead: more international first-class technology companies will emerge As clusters of scientific and technological innovation stars shine, the level of attention from international investors to the Sci-tech Innovation Board has quietly changed. From initial interest at the beginning of its launch to active research, participation in strategic investments, and even heavy positions today, the focus of international investors on the Sci-tech Innovation Board has been increasing year by year. For international investors, the Sci-tech Innovation Board (STAR Market) presents high growth potential, high liquidity, and a strong scientific and technological innovation attribute that serves national development strategies. These are the 'comparative advantages' of the STAR Market that they have identified when looking at global markets. Lian Peikun, Director of Research at UBS Securities Company, stated that over the past three years, the new economy has gained more attention and capital support globally without prior agreement. In terms of the Chinese market, China boasts a large number of technology companies and vast development potential. Helping startups achieve long-term development through financing is crucial for the future development of China's new economy. "The steady performance of listed companies on the Sci-tech Innovation Board, the convenience of investment, and the listing and trading mechanisms that align with international capital markets continue to attract international investors," said Lu Tian, deputy general manager of Goldman Sachs' Gao Hua Securities. It is reported that currently, international investors can either participate through Qualified Foreign Institutional Investors ( QFII ), Qualified Foreign Institutional Investors in RMB RQFII ) Mechanisms participate in the primary and secondary markets of the Sci-Tech Innovation Board, and can also participate in trading on Sci-Tech Innovation Board stocks through the Shanghai-Hong Kong Stock Connect (as of now, there are a total of 58 Only Sci-tech Innovation Board stocks are included in the scope of SSE Connect targets), and investors can also invest in Sci-tech Innovation Board stocks issued in overseas markets ETF and other product configurations to target the Sci-tech Innovation Board. Lu Tian said: 'We are seeing an increasing number of overseas investors through QFII , RQFII Participation in investing in the Sci-tech Innovation Board has increased; investment and trading through interconnect channels into the Sci-tech Innovation Board have also become more active. Judging from the data, the internationalization level of the Sci-tech Innovation Board is increasing day by day. In terms of the secondary market, since the beginning of this year, the proportion of transactions by foreign institutional investors on the Sci-tech Innovation Board has been 9% relatively 2020 year, 2021 Year-on-year increase 7 one, 2 Percentage points. Currently, overseas investors hold more than 1000 Yuan, accounting for nearly 5% relatively 2020 Rise at the end of the year 1.6 percentage points, and 2021 Remains flat at the end of the year. In terms of the primary market, as of 7 month 8 Today, the Sci-tech Innovation Board has listed stocks 435 In the company, a total 35 home has QFII Number of shares allocated upon successful participation in the new share inquiry and allocation 4533 10,000 shares, amount of bonus 9.59 Yuan. In terms of strategic placement participation, 4 home QFII Participated in 7 The strategic placement of shares by a company listed on the STAR Market has been completed, with a total allocation obtained 1.58 100 million shares, amount of shares allocated 45.3 Yuan. In the view of market participants, QFII The participation of funds in strategic placements on the Sci-tech Innovation Board has played a positive role in boosting market confidence, ensuring corporate issuance, and strengthening strategic cooperation with overseas investors. Persevere through long-term efforts, never ceasing in pursuit. With the continuous advancement of the market construction for the Science and Technology Innovation Board (STAR Market), its international attractiveness and influence are expected to further enhance. At the same time, the attention and participation of international investors are also greatly beneficial for STAR Market companies to improve their internationalization level. Technological innovation intelligence SaaS Guan Dian, co-founder of Service Provider Smart Seed, said: 'In the three years since the opening of the Sci-tech Innovation Board, we have seen an unprecedented market focus on 'technological innovation' and 'hard technology'. In the future, we believe that driven by the Sci-tech Innovation Board, more and more Chinese technology enterprises will emerge at an international advanced level.' * This article is reprinted from China Securities Journal, with the reporter being    Huang Yiling,    Original title:    Three years since the market opened! The brilliance of science and innovation continues to highlight China's new economic strength    "> Frost & Sullivan Insight & Extended Readings Q The institutional innovations of the Sci-tech Innovation Board in the past year (such as new share inquiry, market makers, and delisting) A What impacts has the equity capital market ecosystem brought about and what experiences can be learned from it? A :   In the past year, the Sci-tech Innovation Board has successively introduced a series of innovative systems, mainly covering aspects such as new share inquiry, market makers, and transfer to the main board.   In terms of new share inquiry   , 2021 year 9 month 18 On the same day, the Shanghai Stock Exchange issued the "Implementation Measures for the Issuance and Underwriting of Stocks on the Sci-Tech Innovation Board of the Shanghai Stock Exchange ( 2021 Announced for Revision in [Year]》(Revised) and the 'Guidelines on the Application of the Issuance and Underwriting Rules for Sci-Tech Innovation Board of the Shanghai Stock Exchange No. 1 Initial Public Offering (IPO) 2021 Annual revision)». The two documents, following the principles of marketization and legalization, propose more detailed rule revisions taking into account aspects such as fairness and efficiency in new share issuance under the registration-based system. They provide policy guidance for further optimizing the underwriting system for new shares issued on the Sci-Tech Innovation Board, promoting a more balanced game between buyers and sellers, and guiding investors to participate prudently in offline issuance. In the context of China as a whole A From the perspective of the stock market, the formulation of such systems   It is conducive to strengthening the supervision of offline investors' quotation behavior, improving the efficiency of capital markets serving the real economy under the registration-based system, and contributing to A Improvement of stock market supervision measures and investor education efforts.   In terms of market makers   , 2022 year 5 month 13 On the same day, the China Securities Regulatory Commission (CSRC) officially issued the "Pilot Provisions for Market-making Trading of Stocks on the Sci-tech Innovation Board by Securities Companies," introducing a stock market maker mechanism into the Sci-tech Innovation Board. The document mainly includes provisions on market maker access conditions and procedures, internal control, risk monitoring, supervision and enforcement, etc. After the release of the rules, eligible securities companies can apply to the CSRC for pilot qualifications for market-making trading of stocks on the Sci-tech Innovation Board as required. To prevent potential conflicts of interest between market-making trading and brokerage, proprietary trading, asset management, and other businesses, strict requirements are set for pilot securities companies. First, improve the business isolation system to prevent improper flow of sensitive information and strictly guard against conflicts of interest; second, establish and improve internal control, decision-making processes, and checks and balances mechanisms for market-making trading business to ensure standardized and orderly operations; third, strengthen the management of market-making trading business, improve integrity risk prevention and control, and anti-money laundering requirements to prevent illegal and irregular activities such as interest transfer, insider trading, and market manipulation. The improvement of this system   It is conducive to further promoting the establishment of the Sci-tech Innovation Board and piloting the registration-based system reform, improving the trading system of the Sci-tech Innovation Board, enhancing the liquidity of Sci-tech Innovation Board stocks, and strengthening domestic A Market resilience.   In terms of going public through a secondary listing   Under the overall guidance of the China Securities Regulatory Commission, the Shanghai Stock Exchange 2021 year 7 month 23 On _, the "Guidelines for the Application of the Issuance and Listing Review Rules of the Sci-tech Innovation Board of the Shanghai Stock Exchange" were formulated and issued. 3 Registration —— Prospectus for Listing on the Main Board and Other Documents》、《Guidelines for the Application of the Issuance and Listing Review Rules of the Sci-Tech Innovation Board of the Shanghai Stock Exchange No. 4 Registration —— Contents and Format of the Listing Transfer Report', 'Guidelines for the Application of the Issuance and Listing Review Rules of the Sci-tech Innovation Board of the Shanghai Stock Exchange No. 5 The 'Sponsorship Letter for Listing on the New Board' and other supporting guidelines for listing on the new board are included. The supporting guideline documents clarify the conditions for listing on the new board and the disclosure requirements for the standardized operation of listed companies during the listing period, simplify the information disclosure requirements for changes in shareholders, adjust matters not applicable to listing on the new board such as expected market value; further highlight the importance and relevance of information disclosure, making it more convenient for investors to consult; and make differentiated information disclosure requirements. The release of this series of supporting guidelines is under the unified deployment of the China Securities Regulatory Commission.   Establishing a regulatory connection mechanism for the transfer to the National Equities Exchange and Quotations (NEEQ) with the China Securities Depository and Clearing Corporation Limited is conducive to the smooth progress of various tasks related to the transfer to the NEEQ under a unified standard.   In terms of supervision and review   The Sci-tech Innovation Board (STAR Market) implemented the share issuance registration system earlier than the main board market. Referring to the relevant requirements for the proposed stock issuance registration system reform, the STAR Market has established a listing review mechanism centered on information disclosure, with listed enterprises and intermediary institutions ensuring the authenticity, accuracy, and completeness of information disclosure. Centered around the registration system, the market's inclusiveness is enhanced, allowing red-chip enterprises, unprofitable enterprises, and enterprises with differential voting rights to list on the STAR Market. This provides capital for small, medium-sized, high-tech enterprises, accelerates technological innovation in the capital market, and is conducive to the realization of the country's strategies for innovation-driven development and strengthening the nation through science and technology.   According to the 'Three-Year Summary Report of the Sci-tech Innovation Board' by LeadLeo Research Institute, the registration-based system has strengthened information disclosure and compacted market responsibilities. The pilot registration-based system on the Sci-tech Innovation Board has provided a foundation for A The stock market has laid a solid foundation for entering the era of full registration-based trading. Overall, the institutional innovation related to the Sci-tech Innovation Board in the past year has been beneficial to China's capital market, especially A The further improvement of the regulatory system for the stock market. The innovation of the Science and Technology Innovation Board (STAR Market) system provides more detailed document guidance for enterprises seeking initial public offerings or transfer listings. The refinement and implementation of the system have created a better investment environment for a wide range of investors. The innovative provisions of the STAR Market effectively constrain financial market investment activities while ensuring market liquidity, which is conducive to the long-term sustainable development of China's capital market ecosystem. Q :   If you were to describe the development of the Sci-tech Innovation Board (STAR Market) over the past three years using keywords, what would your answer be? Looking ahead to the development of the STAR Market over the next three years, which more promising changes do you think will occur? A :    Keywords:      Boom in development Over the past three years, the Sci-tech Innovation Board (STAR Market) has shown vigorous vitality. From a pilot field to a new high ground, the exploration and development path of the STAR Market is of great significance to China's capital market. Since its establishment, the STAR Market has positioned itself to serve technology innovation enterprises that align with national strategies, break through key core technologies, and are highly recognized by the market. The STAR Market has achieved   Formulating more inclusive listing conditions has facilitated direct financing for various science and technology innovation enterprises, enhancing the service level of the capital market in improving China's core technological innovation capabilities.   At the same time, the Sci-tech Innovation Board is an important part of the comprehensive registration-based system reform. By further optimizing the listing process and improving the efficiency of IPOs, it aims to concentrate more capital in the field of technological innovation, thereby better addressing the 'bottleneck' issues in the technology sector.   Over the past three years, the institutional system of the Sci-tech Innovation Board has been gradually improved, and a series of innovative systems have taken effect, supporting 'hard technology' enterprises with a new world of possibilities. As of 2022 year 6 month 30 Daily, supply and demand of listed companies on the Sci-tech Innovation Board 431 Home, total market value 5.91 trillion yuan, in A Total number of listed companies on the stock market A Proportion in total market value of stocks is 8.9% and 6.3% In the first half of this year, the number of newly listed companies on the Sci-tech Innovation Board was 54 Home, accounting for the total number of newly listed companies 171 home) 31.6% It is significantly more than that of the main board. In terms of industry distribution, companies listed on the Sci-tech Innovation Board are mainly concentrated in electronics, pharmaceuticals and biotechnology, power equipment and new energy, computers, and national defense.   In industries such as engineering and basic chemicals, there are very distinct industry distribution characteristics. According to the 'Three-Year Summary Report of the Sci-tech Innovation Board' by LeadLeo Research Institute, over the past three years, listed companies on the Sci-tech Innovation Board have made tangible progress in performance and operational capabilities. 2019 till 2021 During the year, the average annual compound growth rate of operating revenue of the top ten companies by market value reached 38.7% In terms of net profit, the average annual compound growth rate of net profit for the top ten companies by market value reached 99.0% This fully demonstrates that the Sci-tech Innovation Board has effectively supported the development of China's real economy, especially emerging technology-based enterprises. It has aligned with the development trend of technological innovation and industrial upgrading, and high-tech research and development efforts have entered a sustainable phase.   Standing at this historical juncture, facing the downturn in real estate, recurring epidemics, cyclical factors such as global inflation, and the structural forces for China's economic transformation and upgrading remain vibrant. China has accumulated a large number of industrial clusters in industries such as new energy vehicles, semiconductors, aerospace, biomedicine, cloud computing, and new materials. With the support of capital markets such as the Sci-Tech Innovation Board (STAR Market), it is expected to achieve leapfrog development. At the same time, a series of systems on the STAR Market are expected to be further improved, such as through fair pricing, information disclosure, governance norms, and various methods and channels to urge science and technology innovation enterprises to continuously improve their quality. Secondly, the future of the STAR Market will   Strengthen its interaction, linkage, and coordination with other sectors   Promote the deepening reform of the entire market and build a modern capital market system with Chinese characteristics that is standardized, transparent, open, dynamic, resilient, and innovative. Looking ahead, the Sci-tech Innovation Board will continue to innovate and make even more remarkable achievements.

  2022 year 7 month 22 Today, Frost & Sullivan Frost & Sullivan (Frost & Sullivan), referred to hereinafter as 'Frost & Sullivan') and Guangming Furi Investment Management (Shanghai) Co., Ltd. ( Frost & Sullivan, referred to below as 'Guangming Investment', held a strategic cooperation signing ceremony at its Greater Bay Area headquarters located on the land of China Resources in Nanshan District, Shenzhen.   Dr. Wang Xin, Global Partner and President of Frost & Sullivan Greater China, and Mr. Wang Chenhui, Managing Partner and Executive Vice President of Frost & Sullivan Greater China, attended and received representatives from Bright Food International Fund and Bright Fortune Investment Management. ( shanghai ) Mr. Min Zhidong, General Manager of the Co., Ltd., and his delegation, along with LeadLeo's co-founder and CEO Mr. Yang Xiaocheng attended and witnessed the signing ceremony. At the ceremony, both parties signed the 'Strategic Cooperation Agreement between Guangming Investment and Frost & Sullivan', exchanging views on in-depth cooperation. In the future, the two sides will fully leverage their respective experiences and advantages in capital operation, investment management, industry research, and integration of industry and finance. They will collaborate to explore the establishment of an innovative consulting service platform that serves the entire food supply chain. By pooling their advantageous resources at home and abroad, they will give full play to their strengths in industrial consulting, policy consulting, market consulting, and capital services, providing comprehensive services for technological innovation, product innovation, and the green transformation and upgrading of the food industry. Together, they aim to promote the innovative development of the food industry. Signing Ceremony Venue   Mr. Min Zhidong stated that Frost & Sullivan is a top consulting firm in the field of domestic investment and financing strategies. What is even more commendable is its global perspective and robust database, which have long provided guidance on development directions for various enterprises. Frost & Sullivan's rich professional knowledge and consulting tools have laid a solid foundation for both parties to jointly build the preferred think tank for enterprises and institutions related to food supply systems, and provided the 'fertile soil' for constructing an innovative consumer goods development support platform supported by big data analysis. Mr. Min Zhidong made a speech   Dr. Wang Xin stated that Bright is a century-old brand and leading enterprise in the food consumption sector, with rich domestic and international industrial resources under its investment portfolio. Frost & Sullivan will actively integrate global resources, leverage its data analysis capabilities and industry research expertise to assist Bright Investment in green development, transformation, upgrading, and innovation, covering aspects such as global asset allocation, industry trend research, strategic formulation, business restructuring and resource integration, investment hotspot judgment, high-quality target screening, talent cultivation and training, capital appreciation services, etc. Dr. Wang Xin's presentation Both Guangming Investment and Frost & Sullivan fully recognize the importance of green development under the background of 'dual carbon', as well as the necessity of promoting industry innovation concepts and new investment ideas. The strong alliance between the two will attract authoritative institutions from industry, academia, and research circles at home and abroad, as well as more innovative enterprises and institutions, to jointly lead the future trend of consumer goods development, promote industrial prosperity, and sustainable development!

7 month 18 On the same day, the official website of the Ministry of Culture and Tourism publicized the list of the second batch of national-level night cultural and tourism consumption clusters.   The list shows that there are a total of 123 The location is proposed to be included in the second batch of national-level night cultural and tourism consumption clusters, with Guangdong being selected among them. 6 district.   What impact does night-time culture and tourism consumption have on consumption and tourism, and what is its significance? How can we better develop night-time culture? Frost & Sullivan Frost & Sullivan, Zhang Jian, Partner and Managing Director of Frost & Sullivan's Greater China Region (hereinafter referred to as 'Frost & Sullivan'), was interviewed by Economic Observer Network to discuss the impact of nightlife culture on tourism and consumption under the background of the epidemic, as well as future development trends. Economic Observer Network 7 month 18 On the same day, the official website of the Ministry of Culture and Tourism publicized the list of the second batch of national-level night cultural and tourism consumption clusters. The list shows that there are a total of 123 The location is proposed to be selected as part of the second batch of national-level night cultural and tourism consumption clusters, including Guangdong. 6 One is the Guangzhou Chimelong Tourist Resort, another is the Guangzhou Tower Tourist Area in Guangzhou City, the third is Shekou Coastal Cultural and Creative District in Shenzhen City, and the fourth is Happy Coast in OCT Town in Foshan City. PLUS , Qian Deng Lake area in Foshan City, Shuidong Street in Huizhou City. Previously 2021 year 11 In January, the Ministry of Culture and Tourism announced the list of the first batch of national-level night cultural and tourism consumption clusters. 120 The location has been successfully selected, including Guangdong 5 Districts include Beijing Road in Guangzhou City, Zhengjia Plaza in Guangzhou City, Foshan Creative Industrial Park in Foshan City, Zhongshan Holiday Plaza in Zhongshan City, and Chaozhou Ancient City in Chaozhou City. " In response, Zhang Jian, Partner and Managing Director of Frost & Sullivan Greater China, pointed out to an Economic Observer reporter that developing night tourism and consumption can expand domestic demand during a global economic downturn caused by the COVID-19 pandemic, which is conducive to stimulating the tourism economy. The launch of the construction of national-level night cultural and tourism consumption clusters is at 2021 year 7 Month. At that time, the Ministry of Culture and Tourism proposed to rely on existing blocks (including art blocks) in various regions with good development conditions, high concentration of cultural and tourism industries, and active nightlife markets , The selection and construction will be carried out in batches, including theaters, museums, art galleries, cultural and entertainment venues (such as concentrated areas), cultural and sports commercial and tourism complexes, tourist attractions, business areas of provincial-level and above cultural industry demonstration parks, etc. 200 The above-mentioned area is a national-level night cultural and tourism consumption cluster that meets the development direction of culture and tourism, has rich cultural connotations, prominent regional characteristics, a large scale of cultural and tourism consumption, high quality and level of consumption, and plays a typical exemplary and leading role. The Ministry of Culture and Tourism also emphasized that the construction of national-level night cultural and tourism consumption clusters should not involve large-scale demolition and construction. It is strictly prohibited to engage in 'image projects', 'performance projects', or 'face-saving projects'. To be eligible for applying to become a national-level night cultural and tourism consumption cluster, six requirements must be met: First, the boundaries are clear. The floor area of commercial areas within blocks, tourist attractions, provincial-level and above cultural industry demonstration parks should not exceed 3 Square kilometers, and the commercial area of the cultural, sports, business and tourism complex should not be less than 1 ten thousand square meters; Second, the business format has a high degree of concentration, with a large number and scale of nighttime cultural and tourism consumption. For blocks, cultural and sports commercial and tourism complexes, and cultural industry demonstration parks, the number or area of cultural businesses among night-time operators should account for no less than 40% For tourist attractions, the number of cultural and entertainment facilities operating at night or the area they cover should account for no less than 40% ; Thirdly, public services are improved. Nighttime social security, lighting, sanitation, transportation, and mobile communications are all in good condition, making nighttime travel convenient. There are parking spaces that can basically meet consumers' needs for overnight parking; Fourth, the brand has a high level of awareness;   Fifth, the market order is well-regulated;    Sixthly, the policy environment is favorable. The location of the applicant places importance on developing night culture and tourism economy, which can provide support to the applicants. Preferential policies such as financial rewards and subsidies are formulated and implemented. " "Under the impact of the pandemic, consumers' travel scope and choices have been limited, making it suitable for exploring tourism that combines regionalism, entertainment, and innovation. The night economy has social and leisure entertainment attributes, as well as distinct consumption scenarios, which can promote economic recovery in the post-pandemic era," said Zhang Jian. Zhang Jian pointed out that China has had a nighttime culture since ancient times. After the initial exploration period and the development phase when the government introduced policies to rectify the disorderly nightlife economy, China's nighttime tourism and consumption have entered a high-quality development stage where various regions are promoting the construction of nighttime economies. Against the backdrop of the national promotion of nighttime tourism, new scenarios such as innovative cultural consumption and smart consumption are gradually emerging. Diversified products integrating traditional culture are continuously being created and produced. While promoting consumption and enriching the nation's spiritual culture, these efforts further increase the options for social employment and positions. According to LeadLeo's data, the scale of domestic night economy consumption has been growing rapidly in recent years, from 2016 year 12 trillion yuan, increased to 2020 The year's promise 19 trillion yuan, with a compound annual growth rate of 11.4% The consumer sector mainly includes catering, bars, cultural activities, supplemented by shopping, leisure entertainment, sports and fitness. With continuous promotion from the national and local governments, 2025 The annual night economy consumption scale is expected to exceed 40 trillion yuan. " In Zhang Jian's view, the significance of the Ministry of Culture and Tourism leading the construction of national-level night cultural and tourism consumption clusters is mainly reflected in two aspects: cultural promotion and urban development. To avoid a single model of night tourism, night tourism areas should combine local characteristics, and after attracting visitors, they should boost local cultural promotion.   * This article is reprinted from   Economic Observer Network, Reporter Li Huaqing   ,    Original title:    Announcement of the List of the Second Batch of National Night Cultural and Tourism Consumption Agglomeration Areas Guangdong plans to be selected 6 district    ">

2022 " Win-Win Huawei Innovation Week 2022 year 7 month 18 day 2022 " win — win Huawei's Innovation Week & Product and Solution Release Conference (hereinafter referred to as the 'Release Conference') was held at Huawei's Bantian base in Shenzhen. As an event organized by Huawei, it is targeted at ICT The global series of industry events, themed 'Innovation, Co-creating the Future', aim to build an open, cooperative, and shared platform. It will involve in-depth discussions with industry elites, opinion leaders, and others on industry trends and hot topics, jointly outlining GUIDE Business blueprint.   Frost & Sullivan Frost & Sullivan The analyst team from Frost & Sullivan's Greater China region was invited to attend this conference. Frost & Sullivan integrates globally. 61 With over a decade of consulting experience, Frost & Sullivan continuously monitors the development of China's politics, economy, culture, and technology. The firm has delved deeply into multiple fields such as communication networks, artificial intelligence, healthcare, finance, and energy, accumulating rich research results. Among these, Frost & Sullivan's research on cloud includes cloud computing, cloud communications, cloud security, etc., comprehensively grasping the current situation and trends of the integrated development of cloud and industries.   As a long-term strategic partner of Huawei globally, Frost & Sullivan will work with Huawei to jointly support the development of the global industry and create a new world that is green, digital, and intelligent. Executive Director of Huawei, ICT Wang Tao, Director of the Infrastructure Business Management Committee, delivered a speech (Image source: Huawei) Highlights of the conference At the meeting, Huawei's Executive Director, ICT Wang Tao, Director of the Infrastructure Business Management Committee, said, “Continuously innovate and comprehensively move towards 5.5G The keynote speech kicked off the event. Wang Tao proposed 'Fully Embracing 5.5G The concept of "Times", and jointly exploring the future with operators and industry partners 5 - 10 The overall intergenerational evolution and innovative development direction of the industry in the coming year, moving forward hand in hand 5.5G The era calls for innovation and a win-win future. Wang Tao believes that 5.5G The era has six key capabilities that will empower digital life and development, namely: user experience reaches 10 Gbps Business boundaries extend beyond connections; diverse computing enables diverse applications; full-stack. AI Native assistance ADN reached L4 Green development enhances system energy efficiency. Wang Tao also put forward three initiatives: First, a joint definition 5.5G Vision and evolution direction of the times; secondly, 3GPP , ETSI , ITU Secondly, define the specific technical development paths for the future within the standard framework; thirdly, jointly prosper the industrial ecosystem, incubate more application scenarios, and accelerate digital and intelligent transformation. Yang Chaobin, President of Huawei's Wireless Product Line, delivered a keynote titled “Towards 5.5G Continuous innovation, begin 5G The speech on "The New Journey of the Industry". Yang Chaobin said that in order to meet TOC New businesses and to B industry-specific applications 5G New demands put forward by the network, Huawei will move towards 5.5G Continuous innovation, achieved eMBB/URLLC/mMTC As capabilities continue to improve, revolutionary new capabilities such as high-precision perception, passive IoT, high-precision positioning, and intelligence are added to build the 'downlink 10 Gbps uplink 1 Gbps , hundreds of billions of connections, endogenous intelligence&rdr;" 5.5G Network, embarking on a new journey for the industry. Liu Kang, President of Huawei Cloud's Core Network Product Line, delivered “Continuous Business Innovation across All Sectors, Towards 5.5G Keynote speech on "Core Network Era". Liu Kang said, aiming at 5.5G The network will extend from individual-oriented public networks to industry-oriented virtual private networks, providing strong support for the digital transformation and integrated innovation of various industries. In addition, mobile virtual private networks are innovative applications in the field of dedicated networks, which will enable us to enjoy 5G The convenience brought about by digital transformation improves industry production efficiency. Speech by Jin Yuzhi, President of Huawei's Optical Products Line (Image source: Huawei) Jin Yuzhi, President of Huawei's Optical Products Line, delivered a keynote titled " F5.5G In the speech titled "Creating a Full-Optical Quality Computing Power Network," Jin Yuzhi pointed out that Huawei's full-optical quality computing power network connects enterprises and homes downward, and clouds and computing power upward, supporting operators' network construction and business development. It includes five innovative solutions: full-optical anchors, full-optical terminals, full-optical scheduling, full-optical gateways, and computing power maps. Zhao Zhipeng, Vice President of Huawei's Data Communication Product Line, delivered "Intelligent Cloud Networking". 2.0 A keynote speech on "Comprehensive Upgrade to Accelerate Industry Digital Transformation". During the speech, Zhao Zhipeng officially released the newly upgraded intelligent cloud network. 2.0 Solution. Intelligent Cloud Network 2.0 at 1.0 Based on this, through upgrades in four aspects: new architecture, new experience, new model, and new services, the intelligent cloud network capabilities have been comprehensively enhanced to help operators connect + , with new growth, enabling the integrated development of cloud and network to move into a new phase. Dr. Zhou Yuefeng, Vice President of Huawei and President of the Data Storage Product Line, officially released the white paper "Operator Data Retention Metrics" at the conference. He stated that how to maximize the value of data, and how to measure whether data is 'retained well', 'managed well', and 'used well' within data infrastructure, are common concerns among operators today. Finally, Dr. Liang Zhou, Vice President and Chief Marketing Officer of Huawei Digital Energy Technology Co., Ltd., unveiled the Green Energy Target Network 2.0 , and share with carbon emissions / Energy efficiency-centered metrics help operators accelerate the realization of carbon neutrality goals. Interpretation by Frost & Sullivan Analysts Regarding this 2022 " Win-win At the Huawei Innovation Week ” Product and Solution Launch Event, the Frost & Sullivan team shared the following views: Huawei itself 2020 First proposed wireless communication at the Mobile Broadband Forum in 2019 5.5G Initiative, as well as this year 4 Proposed at the Global Analyst Conference F5.5G After the initiative, Huawei has intensified its efforts in technological innovation and industrial ecosystem construction, leading ICT The industry is booming. Huawei has been advancing spectrum and spectrum efficiency, higher-order MIMO technology, and FTTR , 50G PON , Wi-Fi 7 and other technologies to enhance wireless and fixed network access capabilities. At the same time, technologies such as high-precision perception and passive IoT provide ubiquitous connectivity and perception for various scenarios. In the field of enterprise private networks, Huawei's innovative mobile VPN Provides dedicated networks for direct access as needed to enterprise parks; in the field of digital connectivity, intelligent cloud networks 2.0 The release of the solution has led cloud-network integration into high gear, injecting new growth momentum into operators' businesses. In the process of comprehensively advancing computing and network capabilities, Huawei's Green Energy Target Network 2.0 Enabling further energy conservation and efficiency improvement in various scenarios, helping operators accelerate the realization of carbon neutrality goals.   Under the two major trends of digital transformation across all industries and green and low-carbon energy in the future, Huawei has achieved multiple technological breakthroughs and is working hand in hand with the industry to move towards 5.5G era. Group photo of analysts attending Frost & Sullivan's event

Recently, Guangdong Hengjian Investment Holdings Co., Ltd., a wholly-owned enterprise of the Guangdong State-owned Assets Supervision and Administration Commission, and Guangdong Private Investment Co., Ltd. jointly established the Guangdong Prefabricated Food Industry Fund, with the parent fund reaching 50 RMB 10 billion, and in the future, a sub-fund group with a scale of tens of billions will be formed. Many people have different views on the prospects of prefabricated dishes. Why does Guangdong support the development of prefabricated dishes so firmly and rapidly? What are Guangdong's advantages in developing prefabricated dishes? What kind of help or support do prefabricated dish enterprises currently need? What is the outlook for the prefabricated dish industry? Frost & Sullivan Frost & Sullivan, Zhang Jian, Partner and Managing Director of Frost & Sullivan's Greater China Region, was interviewed by Economic Observer Network to discuss the reasons behind Guangdong Province's vigorous development of prefabricated dishes and the future development of the prefabricated dish industry.     Economic Observer Network Unlike the stock market's fluctuating investment trend in prefabricated dishes, local governments' enthusiasm for supporting the prefabricated dish industry continues, and support measures are being implemented in an orderly manner. According to the official website of the Guangdong Provincial Government, 7 month 7 On [date], Guangdong Hengjian Investment Holdings Co., Ltd. (hereinafter referred to as 'Hengjian Holdings') and Guangdong Private Investment Co., Ltd. (hereinafter referred to as 'Yuemin Investment') jointly established the Guangdong Prefabricated Food Industry Investment Fund, which is the first provincial-level prefabricated food industry investment fund in China, with the parent fund reaching 50 RMB 10 billion, with the expectation of forming a sub-fund group worth tens of billions in the future. Investment will be made in key areas and critical links of the industrial chain such as prefabricated food production, warehousing, distribution, consumption, and equipment manufacturing. The Guangdong Prefabricated Food Industry Investment Fund, backed by Hengjian Holdings and Yue Min Investment, has gathered dual support from local state-owned and private capital in Guangdong. Public information shows that Hengjian Holdings was established in 2007 In [year], it was undertaken by the State-owned Assets Supervision and Administration Commission of Guangdong Province 100% Holding is a major strategic investment platform of the Guangdong Provincial Party Committee and Government, as well as a provincial state-owned capital operation company, aiming to assist in industrial agglomeration and upgrading in Guangdong Province. Yuemin Investment was established in 2016 In [year], the initial founding shareholders included well-known private enterprises in Guangdong such as Midea Holdings, Yingfeng Investment, Country Garden, Jiadu Group, Haitian Group, Wanhe Group, Xiangxue Pharmaceutical, and Libai Group. In fact, across the country, Guangdong can be considered a leader in supporting the prefabricated food industry. 2022 year 3 In the month, Guangdong Province introduced the 'Ten Measures to Accelerate the High-Quality Development of the Prefabricated Food Industry in Guangdong' (hereinafter referred to as the 'Prefabricated Food Ten Measures'), which is the first provincial-level policy for the prefabricated food industry in China. 2022 year 5 In the month, the General Office of Guangdong Province announced the list of members for the Joint Conference on the High-quality Development of the Prefabricated Food Industry in Guangdong. Guangdong is the first province in China to establish a provincial joint conference system in the field of prefabricated food. The main responsibilities of this joint conference include coordinating the overall planning of the development layout and strategy of the prefabricated food industry across the province, guiding and supervising localities and relevant units in formulating and implementing policies and measures, strengthening publicity and policy interpretation, and supporting and regulating the development of the prefabricated food industry.     7 month 12 On the same day, Zhang Jianshe, Partner and Managing Director of Frost & Sullivan Greater China, believed in an interview with an Economic Observer reporter that under the backdrop of normalized epidemics, for catering enterprises, prefabricated dishes may develop into a new business growth point. For agricultural product companies, prefabricated dishes can significantly increase the added value of agricultural products and contribute to rural revitalization. Prefabricated dishes drive rural industrial upgrading Prefabricated dishes refer to ready-to-eat or semi-prepared meals that are made by processing various ingredients with seasonings into finished products. Due to different ingredient combinations, they are categorized into vegetable prefabs, aquatic prefabs, livestock and poultry prefabs, etc. since 2021 Since [start year], prefabricated dishes have received considerable attention. Industry statistics show that 2021 The year's catering industry prefabricated dish track PE/VC investment Total investment events 23 Amount of financing started 56 100 million yuan, accounting for approximately the catering industry of that year PE/VC investment Amount of financing from investment events 10% In the secondary market, 2021 year 4 Month, "The First Pre-prepared Meal Stocking Company" Wizzyxiang 605089.SH ) Log in to the SSE, and the issue price is 28.53 yuan / The stock price was once hyped up to exceed 130 Yuan, although the stock price has since fallen back, the current stock price is still 65 yuan / Shares on the left and right, with relative price increases exceeding 100% . in A On the stock market, many listed companies have also introduced their arrangements for prefabricated dishes. " In response, Zhang Jian told an Economic Observer reporter that against the backdrop of normalized epidemics, for catering enterprises, exploring the market for prefabricated dishes is a means to reduce costs and increase efficiency, as well as achieve transformation and upgrading. Prefabricated dishes could potentially become new business growth points for enterprises. In the eyes of local governments, the potential for prefabricated dishes is even greater. "Prefabricated dishes represent a new model of integrated development of rural primary, secondary, and tertiary industries, a new business format that promotes the improvement and efficiency of the 'vegetable basket' project, and a new channel for farmers to increase their income and become prosperous by connecting one industry with another. It has positive implications for promoting entrepreneurship and employment, consumption upgrading, and rural industrial revitalization." The General Office of the Guangdong Provincial Government introduced the significance of the prefabricated dish industry in the 'Ten Prefabricated Dish Guidelines'. " Zhang Jian also saw the significance of developing prefabricated dishes for rural revitalization: 'For agricultural product enterprises, prefabricated dishes can greatly increase the added value of agricultural products, boost farmers' income, and effectively connect with rural revitalization policies.' Chen Dong, member of the Party Leadership Group and Deputy Director of the Department of Agriculture and Rural Affairs of Guangdong Province 7 month 10 The case shared at the China Prefabricated Food Innovation and Development Summit held daily illustrates more vividly the impact of prefabricated dishes on enhancing the value of agricultural products—Maoming, Guangdong, is the largest tilapia farming and export destination in China, known as the 'Capital of Tilapia in China.' A considerable number of local farmers earn income from tilapia, with fresh tilapia prices ranging from 3 Yuan to 5 Yuan, but if tilapia is made into pickled fish or grilled fish, the price can soar to every jin 40 yuan or 50 yuan. "   Zhang Jian believes that Guangdong has multiple advantages for developing the prefabricated food industry:   First is the industrial chain advantage,   The upstream of the prefabricated food industry chain covers agriculture, forestry, animal husbandry, and fisheries. The midstream involves industrial manufacturing. The downstream corresponds to the food and beverage as well as catering industries. There are many links in the upper and lower industrial chains, which are relatively long. The prefabricated food industry chain in Guangdong has a relatively complete industrialization covering the upstream, midstream, and downstream;   Second is the technological advantage,   Guangdong has a solid industrial technology foundation in food processing and other industries;   Third is the dietary culture advantage,   Cantonese cuisine is one of the eight major cuisines, and 'Guangdong cuisine', 'Chaoshan cuisine', and 'Hakka cuisine' are very popular. The characteristics of Cantonese cuisine such as nutrition, health, lightness, and wellness have won the favor of many enthusiasts, which is conducive to the promotion of Cantonese prefabricated dishes; Fourth is the demographic advantage,   Guangdong leads the country in the number of floating population, and its large population base, combined with a fast-paced lifestyle, naturally creates a demand for convenient ready-made dishes;   Fifth is policy advantage.   Not only has Guangdong taken the lead in introducing support measures for prefabricated dishes at the provincial level, but it has also made plans for how various regions within the province can develop prefabricated dishes. It proposes to build a highland for prefabricated dishes in Gaoyao, Zhaoqing, a food capital for aquatic prefabricated dishes in Zhanjiang, an industrial park for coastal seafood prefabricated dishes in Maoming, an import and export trade zone for prefabricated dishes in Nansha, Guangzhou, an international food city for prefabricated dishes in Nanhai and Shunde, Foshan, a world food capital for prefabricated dishes in Chaozhou, a global distribution center for prefabricated dishes by overseas Chinese in Jiangmen, as well as industrial clusters for Hakka prefabricated dishes in Meizhou, Heyuan, and Huizhou.   "Guangdong Province, under the active guidance of the government, has taken the lead in organizing and systematically developing the prefabricated food industry nationwide, and there is great potential for further development in the future." Zhang Jian commented. The prefabricated cuisine industry in urgent need of development Among local governments, not only Guangdong is supporting the development of prefabricated dishes, but also Weifang in Shandong, Liangping in Chongqing, and Fuping in Hebei have introduced support policies for prefabricated dishes. "   In Zhang Jian's view, the prefabricated food industry is currently in its growth phase, with a highly fragmented market and a large number of small-scale enterprises. Most companies focus on a single category, and their business reach is limited. The prefabricated food boom reflects to some extent the evolution of prefabricated food from B End C The trend of end penetration is evident. However, to gain the favor of individual consumers in the long run, prefabricated dish enterprises also need to cultivate capabilities in marketing, quality control, logistics management, brand building, and more. At the same time, Zhang Jian believes that current prefabricated dish enterprises mainly need three types of assistance. The first is the formulation of industry standards. 'Industry standards are norms that prefabricated dish enterprises and every participant in the industry must follow, and they are also an important basis for consumers to safeguard their rights. At this stage, China's prefabricated dish industry still lacks detailed standards for each link. Therefore, prefabricated dish production safety standards endorsed by regulatory authorities and national industry organizations urgently need to be introduced to promote the standardization process of prefabricated dishes.' Secondly, the improvement of cold chain logistics. 'Cold chain logistics is one of the key factors for the development of prefabricated dish enterprises. At present, the efficiency of cold chain logistics in China needs to be improved compared to developed countries, and the overall cold chain market has not yet fully matured. The government can cooperate with prefabricated dish enterprises to jointly explore ways to enhance the service capabilities and efficiency of the cold chain logistics link in the prefabricated dish industry.' Thirdly, the cultivation of compound talents. The 'central kitchen' behind ready-made meals integrates support from multiple fields such as food processing and safety, cooking techniques, mechanical engineering, and supply chain. Traditional cooking technicians often lack this kind of knowledge. To meet the talent needs of ready-made meal enterprises, vocational schools and higher education institutions can try to cultivate compound talents with knowledge in various fields such as cooking techniques and food industry. In the 'Ten Measures for Prefabricated Foods' in Guangdong Province, areas such as the research and development of prefabricated foods, regulatory norms, talent cultivation, warehousing and cold chain logistics, brand marketing, cultural science popularization, cultivation of demonstration enterprises, cluster expansion, and internationalization have all been taken into consideration. Related to the Guangdong Prefabricated Food Industry Investment Fund mentioned earlier, financial, banking, and insurance support for prefabricated foods is also within the scope of consideration in Guangdong Province. The Guangdong Provincial Government has proposed to establish a development fund system for the prefabricated food industry in Guangdong, aiming to reduce the financing difficulties and costs for enterprises. Insurance institutions will be organized to connect with prefabricated food enterprises, and a series of special insurance products targeting prefabricated food products and raw material quality will be launched. Governments at all levels within the province should incorporate the development of the prefabricated food industry into their fiscal support scope. Under the premise of not forming hidden local government debts, eligible prefabricated food industry projects can apply for special local government bonds. Vigorously develop supply chain finance for the prefabricated food industry, and support financial institutions in developing special financial products for the prefabricated food industry. this year 6 In [month], the Guangdong Branch of Industrial and Commercial Bank of China issued to a prefabricated food production and sales enterprise in Foshan City 500 A credit loan of ten thousand yuan, the first financing under ICBC's newly launched 'Ready-to-heat Meal Loan'; during the same period, Foshan also successfully launched its first comprehensive financial service business for the ready-to-heat meal supply chain; this year 7 In [month], PICC Property & Casualty Company Guangzhou Nansha Branch issued the first pre-fabricated food safety liability insurance in Guangzhou for an enterprise in Guangzhou, providing approximately 300 Ten thousand yuan for food safety liability risk protection.   * This article is reprinted from   Economic Observer Network, Reporter Li Huaqing   ,    Original title:    Behind Guangdong's establishment of a provincial prefabricated food industry investment fund: leveraging the 'new business format' to boost rural industrial revitalization    "> Frost & Sullivan Insight & Extended Readings Q :   P prefabricated meals are indeed more popular than in the past, but even in the stock market, concept stocks related to prefabricated meals have experienced fluctuations. It can be said that many people have varying views on the prospects of prefabricated meals. Why is Guangdong so determined and swift in supporting the development of prefabricated meals? A :   Since “The First Pre-prepared Meal Product Company” Vegetable Flavor, 2021 year 4 The cumulative increase in the price of the stock since its listing on the Shanghai Stock Exchange has exceeded 200% Leading the secondary market's prefabricated dish sector with continuous heat. In addition, there have been frequent investment and financing events for prefabricated dish companies in the primary market. 2021 Total investment and financing events in the prefabricated dish track of the catering industry in 2023 23 Amount of financing 500 Hundreds of millions, accounting for the entire catering industry's financing amount 10% Enterprises related to 'eating' have flocked in, viewing prefabricated meals as a new business growth point. Against the backdrop of normalized epidemics, for catering enterprises, actively exploring entry into the prefabricated food industry is a means to reduce costs and increase efficiency, as well as achieve transformation and upgrading. At the same time, developing prefabricated food is also highly beneficial for boosting employment and supporting rural areas. For agricultural product enterprises, developing prefabricated food can greatly enhance the added value of agricultural products, increase farmers' income, and effectively connect with rural revitalization policies. Guangdong Province, as a major populous and economic province in China, has a developed manufacturing industry, strong technological innovation capabilities, and a vast consumer market. Guangdong not only has strong local resource advantages (such as abundant agricultural products), The rich and long-standing dietary culture, along with the relatively complete modern supporting facilities (such as cold chain storage and transportation logistics systems), can all contribute to the development of the prefabricated food industry. In recent years, the Guangdong Provincial Department of Agriculture and Rural Affairs has organized several sessions for prefabricated food enterprises within the province to offer suggestions on the definition and classification of prefabricated foods, various proposals, and support policies. The recently issued 'Ten Measures to Accelerate the High-Quality Development of the Prefabricated Food Industry in Guangdong' put forward opinions on multiple aspects such as the entire industrial chain process, financial support, and talent cultivation. As the first province in China to introduce support measures for the development of the prefabricated food industry, the experience of Guangdong Province is highly worth learning from. Q What's your personal view on the prospects of prefabricated dishes? A :   At present, the prefabricated food industry is still in its growth phase, with a highly fragmented market. Most prefabricated food enterprises are in the early stages of small-scale development, and most focus on developing a single category, with limited business reach. With continuous breakthroughs in domestic cold chain technology and other positive industry news, mid-sized enterprises within the prefabricated food industry are expected to accelerate their sprint towards the top tier, driving up financing demand. It is estimated that in the next few years, the industry will see a financing boom, attracting more investors' attention to the prefabricated food market. At the same time, prefabricated food enterprises will continue to innovate technologically, improve their transportation efficiency, strengthen cold chain logistics data capabilities, and enhance their overall competitiveness. In addition, affected by the trend of catering chain operation in China, it is expected that prefabricated dishes B Consumer spending in the terminal market will continue to increase. In recent years, with China continuously improving industry standard construction, upgrading supply chains, developing cold chain logistics, and customizing standardized ingredients, prefabricated dishes are gradually transitioning from B End market to C End-market penetration. And for C In the terminal market, affected by factors such as young people's 'lazy homebody' consumption habits and changes in consumer lifestyle after the pandemic, it is expected that the downstream market within the industry will move towards C End acceleration offset, for prefabricated dishes C The penetration rate in the terminal market is expected to gradually increase.

Frost & Sullivan insights   7 month 15 Today, the official website of the National Bureau of Statistics announced 2022 Industrial capacity utilization rate across the country in the second quarter of the year. The data shows that the industrial capacity utilization rate across the country in the second quarter was 75.1% , down compared with the same period last year 3.3 Percentage points. And in the first half of this year, the utilization rate of industrial capacity was 75.4% , down compared with the same period last year 2.5 percentage points.   What kind of information does the high or low utilization rate of industrial capacity across the country convey? Looking at major industries,   In the first half of this year, why did the utilization rate of industrial capacity in the automotive manufacturing industry decline the most compared to last year?   In the second quarter, why did the utilization rate of industrial capacity in the non-metallic mineral products industry decline the most compared to last year?    How to assess the performance of industrial capacity utilization in the third quarter?    Frost & Sullivan Frost & Sullivan, Dr. Wang Xin, Global Partner and President of Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), was interviewed by Economic Observer Network to discuss 2022 Performance of industrial capacity utilization rate in the year. Economic Observer Network 7 month 15 On the same day, the State Council Information Office held a press conference to introduce 2022 The operational status of the national economy in the first half of the year was announced on the official website of the National Bureau of Statistics, with multiple economic indicators provided. According to data from the National Bureau of Statistics, preliminary accounting, 2022 The gross domestic product for the first half of the year was 562642 Yuan billion, calculated at constant prices, a year-on-year increase 2.5% , including GDP in the second quarter 292464 Yuan, a year-on-year increase 0.4% The National Bureau of Statistics believes that 2022 In the first half of the year, China effectively responded to the impact of factors exceeding expectations, stabilizing and recovering its national economy. From an industrial perspective, 2022 In the first half and second quarter of this year, the growth rate of added value of industries above designated size was higher than that of the whole country in the same period GDP The growth rate needs to be higher. Data from the National Bureau of Statistics show, 2022 In the first half of the year, industrial added value above designated size nationwide increased by [X]% year-on-year. 3.4% In the second quarter, industrial added value above designated size increased by year-on-year 0.7% . However, 2022 In the first half of the year and the second quarter, the utilization rate of industrial capacity across the country showed a trend opposite to that of the same period across the country GDP Curves that are completely the opposite: Data from the National Bureau of Statistics shows, 2022 In the first half of the year, the national industrial capacity utilization rate was 75.4% , down year-on-year 2.5 Percentage points. The utilization rate of national industrial capacity in the second quarter was 75.1% , down year-on-year 3.3 percentage points. Quarterly trend chart of industrial capacity utilization rate over the past three years (Data source: National Bureau of Statistics) Capacity utilization rate refers to the ratio of actual output to productive capacity. According to the National Bureau of Statistics, the survey on industrial capacity utilization rates nationwide involves large and medium-sized enterprises as well as small and micro-enterprises. 11 There are about ten thousand enterprises, among which large and medium-sized enterprises were surveyed comprehensively, while small and micro enterprises were surveyed through sampling.   Wang Xin, Global Partner at Frost & Sullivan and President of the Greater China Region, pointed out to an Economic Observer reporter that the National Bureau of Statistics has been 2013 The data on the utilization rate of industrial capacity across the country has been published quarterly since the beginning of the year, reflecting the overall and major industry production efficiency. Neither an excessively high nor a too low level of this data is ideal. It is evident that if the utilization rate of industrial capacity is too low, it indicates idle capacity, leading to cost waste; if the utilization rate is too high, it suggests that capacity is tight and expansion is needed. Wang Xin believes that the changing trend in the utilization rate of industrial capacity across the country can provide a reference for policy adjustments: 'From historical data, 2013 Year-end 2015 During the year, China's overall industrial capacity utilization rate showed a certain downward trend. 2015 Starting at the end of the year, the country has vigorously promoted supply-side reform, eliminating backward and overcapacity through 'three reductions, one elimination, and one supplement'. 2016 year -2017 During the year, China's industrial capacity utilization rate improved significantly. The outbreak of the COVID-19 pandemic has significantly impacted the utilization rate of industrial capacity nationwide. 2020 In the first quarter of 2023, the utilization rate of industrial capacity across the country rapidly declined to 67.3% , and then gradually recover. Looking at the trend in the past three years, 2022 In the first half of the year, the national industrial capacity utilization rate showed an unusually downward trend. Typically, due to the Spring Festival holiday in the first quarter, the industrial capacity utilization rate for the second quarter of the same year would be slightly higher than that of the first quarter. 2019 year, 2020 year 2021 The situation in [year] has been the same. 2022 Industrial capacity utilization rates of major industries in the first half of the year (Data source: National Bureau of Statistics) Looking at different industries, 2022 In the first half of the year, the automotive manufacturing industry saw the most severe decline in industrial capacity utilization, falling by 5.5 percentage points. Wang Xin analyzed to the Economic Observer Network reporter that there are mainly two reasons behind this. Firstly, affected by the domestic epidemic, especially that in Shanghai, the automotive manufacturing industry faced significant challenges in terms of supply chain and staffing arrangements in the first half of this year.   According to the statistical data from the China Association of Automobile Manufacturers, in the first half of this year, China's automobile production and sales respectively completed 1211.7 10,000 units and 1205.7 Ten thousand units, a year-on-year decrease 3.7% and 6.6% And 2021 In that year, Shanghai's automobile production reached 10% left and right.   Secondly, China's automotive industry is in a period of structural adjustment. The industry is vigorously developing new energy vehicles, with new production capacity expanding. It still requires some time to adjust old production capacity.   2022 In the second quarter of the year, the industry with the most severe decline in industrial capacity utilization rate was non-metallic mineral products. Wang Xin analyzed to an Economic Observer reporter that the decline in capacity utilization rate of this industry is closely related to changes in the real estate sector.   The non-metallic mineral products industry mainly includes the production of building materials such as cement, lime, glass, and ceramics, which is closely related to the development of the construction industry. With 2020 A series of policies introduced in the year have led the real estate industry into a period of deep adjustment. According to the latest data from the National Bureau of Statistics, 2022 New housing starts in the first half of the year 66423 Ten thousand square meters, a decrease 34.4% "The adjustment in the real estate industry has dragged down the overall development of the construction industry, thereby affecting the upstream non-metallic mineral products industry." Wang Xin said. In Wang Xin's view, the decline in industrial capacity utilization rate in the second quarter of this year was mainly due to 4 month and 5 The impact of sporadic outbreaks in recent months is mitigated, and as long as the domestic epidemic improves and maintains a good situation, the utilization rate of industrial capacity across the country can be effectively improved in the third quarter. "From PPI , PMI Looking at these leading indicators of industrial capacity utilization, 6 month PPI Remained flat month-on-month. 6 Monthly manufacturing PMI for 50.2 It has increased month-on-month and returned above the boom-bust line after three months. "We believe that as the industrial chain and supply chain gradually become smoother and more stable, and with the continuous advancement of resuming work and production, industrial capacity utilization rates will improve in the third quarter," said Wang Xin.   * This article is reprinted from the Economic Observer Network, with reporter Li Huaqing. The original title was 'Industrial Capacity Utilization Rate Declined Year-on-Year in the First Half of the Year'. 2.5 What does a percentage point convey?