Frost & Sullivan Insights On November 3, at the 2021 Tencent Digital Ecosystem Conference, Tencent officially disclosed its actions in chip development for the first time: the "Zixiao" chip for AI computing, the "Canghai" chip for video processing, and the "Xuanling" chip for high-performance networks have all made substantial progress. Among them, the "Zixiao" has now been successfully fabricated and successfully powered on. What kind of chips does Tencent want to build? Why does Tencent want to build chips? Li Qing, director of the Frost & Sullivan and LeadLeo research institute, was interviewed by The Economic Daily to discuss Tencent's "chip journey" with everyone.   The Economic Daily On November 3, at the 2021 Tencent Digital Ecosystem Conference, Tencent officially disclosed its actions in chip development for the first time: the "Zixiao" chip for AI computing, the "Canghai" chip for video processing, and the "Xuanling" chip for high-performance networks have all made substantial progress. Among them, the "Zixiao" has now been successfully fabricated and successfully powered on.   Tencent started from QQ and has been expanding around the software ecosystem since its establishment. Entering the chip industry, moving from "software" to "hardware," can be regarded as an important exploration in business layout. What kind of chips does Tencent want to build? Why does Tencent want to build chips?   What kind of chips to build Tencent's intention to build chips has long been evident.   In May 2018, Pony Ma, chairman and CEO of Tencent, revealed some ideas about chips during a forum speech.   He said at that time that when doing software and services, it seemed a bit distant from chips. But in fact, Tencent has built many data centers, including the cloud, and has a certain influence on many server-side needs, even including chips. The application services are massive, with a particularly large user base, which can force the chip design industry to make targeted designs. "If we can also get involved in supporting some chip research and development, it might be better."   Soon after, Tencent took the investment approach and initially entered the chip field: In August 2018, the AI chip startup SinoFoundry received 340 million yuan in Pre-A financing, led by Tencent.   In June or July this year, the outside world suddenly noticed that Tencent had posted multiple job openings for chip research and development on the Internet, involving chip architects, chip verification engineers, etc. So people speculated that Tencent's layout in the chip field had been strengthened.   On November 3, at the 2021 Tencent Digital Ecosystem Conference, the veil was lifted over Tencent's chips, and three types of chips all belong to dedicated chips. Among them, the "Zixiao" is mainly used for AI, the "Canghai" is mainly used for video, and the "Xuanling" is mainly used for intelligent networks. Regarding the characteristics of these chips, Tencent has made professional explanations, but it is still not easy for non-industry insiders to understand. In summary, the performance of these three types of chips has been significantly improved compared with similar products.   It is understood that in the future, Tencent's strategy in chip development will adopt a two-pronged approach, one is self-development and the other is cooperation. Tang Daosheng, senior executive vice president and CEO of the Cloud and Smart Industries Group, said that Tencent will always seek to maintain in-depth strategic cooperation with domestic and foreign chip companies through the model of ecological co-construction, combining the customization ability of chips with that of software. Why build chips Behind Tencent's chip-building efforts, there are two questions: one is why it wants to do it, and the other is why it can do it.   First, let's look at the question of "why it wants to do it".   Qiu Yuepeng, vice president of Tencent, COO of the Cloud and Smart Industries Group, and president of Tencent Cloud, introduced at the conference that with the development of the cloud computing industry, the trend of integrating software and hardware is becoming more and more obvious, and software-defined hardware is irresistible. Chips are the most core part of hardware. Tencent has been actively exploring in the chip field and has long-term investments. And AI computing, video processing, and high-performance networks are three scenarios with strong demand.   Tang Daosheng also responded during a media group interview. He said that Tencent's investment in this area is driven by demand, and it is also because some problems need to be solved, either to reduce costs or to use Tencent's infrastructure more efficiently.   “For example, the scale of AI services is very large. How to reduce energy consumption through self-developed chips, how to optimize costs, these are all areas that drive us to keep investing in this field. Another example is that as audio and video usage scenarios become more and more common, as an underlying technology and a more natural interactive mode for communication between people, it is applied in many scenarios of Tencent to meet needs such as healthcare, education, and live streaming, and it has also become an important place that consumes computing resources. We have also made a lot of investments in audio and video coding technology and hardware chips, hoping to achieve integrated software and hardware to support audio and video encoding and decoding more efficiently. Another example is the Xingxinghai server, which is built for the cloud and is a multi-core chip that meets the needs of cloud application scenarios.” Tang Daosheng said.   Li Qing, director of the Frost & Sullivan and LeadLeo research institute, told The Economic Daily reporter that integrating software and hardware is an AI trend. The support of algorithms must rely on the capabilities of underlying chips, and the existing ones are not sufficient to perfectly match the application of AI algorithm models. Not only Tencent, but Huawei and Alibaba are also building AI chips, which is the inevitable direction for enterprises building AI platforms.   Now let's look at the question of "why it can do it".   As we all know, the threshold for chips is very high. But compared with general-purpose chips, there are more opportunities for dedicated chips. Tencent's entry point is dedicated chips.   Li Qing believes that Tencent's choice is wise. This part of the chips is not meant to be open for all industries, but has specific uses. From the perspective of AI algorithm applications, it also tends to be in a professional direction. Video processing and audio and video technology are areas where Tencent is strong. Matching this ability with AI is very consistent with Tencent's current development strategy. R & D follows actual needs, not blindly following trends or hype concepts, which is very realistic.   Of course, Tencent's chip-building efforts are not without challenges. Li Qing said that after all, Tencent did not start from hardware. The key lies in the degree of self-development and cooperation with the outside world. Establishing an ecosystem has always been a principle that Tencent adheres to, and this part will definitely be opened up to partners in the future.   *This article is reprinted from The Economic Daily, with reporter Guo Rongcun. The original article is titled "A Detailed Explanation of Tencent's Chips: What Kind of Chips Are Being Built and Why".

From November 3rd to 4th, the 'Digital Realities Integration, Blossoming New Opportunities' 2021 Tencent Digital Ecosystem Conference was grandly held at Wuhan Optics Valley. Over 300 industry leaders, technology pioneers, economists, and other luminaries gathered together to discuss new opportunities for the integrated development of digital technology and the real economy. Yang Xiaocheng, Partner and Managing Director of Frost & Sullivan's Greater China region, as well as CEO of LeadLeo Research Institute, was invited to attend the conference and delivered a keynote speech titled 'Intelligent Creation of Intelligence - How AI Development Platforms Define Leaders'.   Scene: How does the AI development platform define a leader? At the meeting, Yang Xiaocheng shared from four aspects: AI development platform architecture, market space, competitive elements, and competitive landscape.   Firstly, Yang Xiaocheng started with the architecture of AI development platforms, pointing out that their key elements include infrastructure, training platforms, frameworks, and application technology services. Currently, the mainstream trend concepts surrounding these four elements include AI self-developed chips, cloud-native architecture, elastic computing, and DevOps (automated deployment).   In terms of infrastructure, enterprises have developed their own AI chips to adapt the chip circuit architecture to their algorithms, maximizing operational efficiency. Self-developed chips also show trends such as architectural innovation, morphological evolution, and integration of software and hardware. In terms of elastic and distributed training, cloud-native deep learning training platforms can achieve complete containerization deployment and use, and provide elastic scaling of resources based on Kubernetes, compatible with a variety of CPU and GPU processors. Distributed training can provide elastic configuration of underlying resources, improve system utilization, and enable users to achieve cost reduction and efficiency enhancement. At present, with the expansion of cluster scale, the probability of machine failures occurring at a given moment in the cluster is increasing. While the complexity of training models is rising, the fault tolerance of tasks is decreasing, and the demand for flexibility in cluster resource allocation is also constantly strengthening. Subsequently, Yang Xiaocheng led everyone to understand the current market situation and trends of AI development platforms. The report shows that the market size currently exceeds 20 billion yuan, with a stable growth in existing space. From the perspective of the development trend of application technology in the entire artificial intelligence industry, there have been the proposal of large models, the transformation from perceptual intelligence to cognitive intelligence, and the integration from single-modal to multi-modal. From an algorithmic perspective, the R&D investment in artificial intelligence algorithms accounted for 9.3%, exceeding 37 billion yuan. Computer vision, speech recognition/synthesis, and natural language processing accounted for 22.5%, 2.3%, and 7.1% respectively. In terms of computing power, China is accelerating the construction of a new generation of artificial intelligence computing infrastructure, with the 'implementation wave' of intelligent computing centers rapidly emerging across various regions. The AI industry in China invests about 50% of its costs in computing power construction, but development speed at the computing power level has not met expectations due to chip limitations, leading to an acceleration in the localization of AI chips. From the perspective of application needs, currently, it is still dominated by the government. Smart cities, which involve urban management, operation, intelligent analysis and security, account for 85% of the market share. On the ToB side, which focuses on energy, logistics, industry, consumption, etc., it is still mainly led by industry leaders. Currently, leading enterprises have already carried out large-scale applications in the field of artificial intelligence, and in the future, the artificial intelligence market will penetrate into small and medium-sized enterprise users. Data shows that from 2016 to 2020, the revenue scale of AI development platforms in China expanded rapidly, with the revenue of Chinese AI development platforms exceeding 20 billion yuan in 2020. At present, the revenue proportion of four businesses: computing power, data, model invocation, deployment, and maintenance is approximately 4:3:2:1. In the future, as AI applications deepen in various vertical scenarios, the revenue proportion of model invocation business is expected to increase. Yang Xiaocheng stated that the core competitive element of AI development platforms is how to create a platform that is more suitable for developers. He believes that efforts should be focused on two directions: enhancing the hard power of service supply capabilities and meeting customer needs through soft power.   In terms of hard power: First, intelligent annotation of data is a difficult leap from manual to intelligent methods. Second, machine learning frameworks need to gradually improve their defects, enhance user experience, and build an AI ecosystem. Third, pre-trained models should be made more flexible through compression and acceleration while scaling up in size. In terms of soft power: First is AutoML, one of the important trends in the field of artificial intelligence. It can help AI development platforms automatically complete tasks such as neural structure search, model selection, feature engineering, hyperparameter tuning, and model compression. Second is a developer-centric approach, which enhances platform service capabilities in multiple aspects including data preparation, model training, model management and deployment, and account management to build an ecosystem. Finally, Yang Xiaocheng mentioned that Frost & Sullivan and LeadLeo Research Institute released a frost radar chart on AI development platforms in September this year. They established two scoring dimensions: innovation index and growth index, to evaluate and analyze AI development platforms. The results showed that Tencent Cloud is positioned in the leader quadrant. According to its introduction, the innovation index consists of two primary indicators—technological innovation capability and business innovation capability. Among them, technological innovation capability has four sub-indicators that examine basic hardware, data collection and annotation, underlying architecture, and algorithm models. The growth index, on the other hand, starts from services and ecosystems. Looking at the overall performance, the AI development platform market in China is in a stage of technical maturity and platform improvement. Competitors have competitive advantages in terms of both innovation capability and growth capability for AI development platform products. "We can see that China's AI technology is still in the process of continuous development and improvement. I believe that in the future, AI development platforms will become more mature and affordable to implement earlier," said Yang Xiaocheng.

Frost & Sullivan insights On the evening of October 28th, Aolife Entertainment (002292.SZ) disclosed its third-quarter report for 2021 and information on the proposed investment amounts for adjusted private placement projects. Following a negative net profit growth in the second quarter, Aolife Entertainment's net profit continued to decline in the third quarter. Since the end of 2020, commodity prices have been continuously rising, along with continuous chatter about 'rising' shipping costs. As a listed company with overseas revenue accounting for half of its earnings and toy sales and baby products accounting for over 75% of its business, Aolife Entertainment has been greatly affected by this. Do the long-term strategic agreements between major shipping companies have corresponding thresholds for business volume or capital? What strategies can small and medium-sized enterprises use in the face of rising shipping costs? From the company's perspective, what are the advantages and disadvantages of signing long-term strategic agreements with shipping companies? Xiang Weili, Executive Director of Frost & Sullivan Greater China, was interviewed by a reporter from CCB News to answer questions related to long-term shipping agreements.   Cailian Social Cainiu News Agency (Guangzhou, Reporter Ren Chaoyu) On the evening of October 28th, Aoyou Entertainment (002292.SZ) disclosed its third-quarter report for 2021 and information on the proposed investment amount for the adjusted private placement project. Following a negative net profit growth in the second quarter, Aoyou Entertainment's net profit continued to decline in the third quarter. Affected by factors such as raw materials and maritime transportation, net profit dropped significantly by 2902.19%, turning from a profit to a loss year-on-year.   Data shows that although shipping prices have loosened, it is very likely that they will continue to fluctuate at a relatively high level in the future. A shipping industry analyst told reporters that shipping prices can still remain high in Q4 because the mismatch between supply and demand has not been completely resolved.   This may mean that the pressure on shipping costs for OPPO Entertainment's Q4 will continue.   In terms of operations, the trend gaming business, which is most concerned about by the capital market at OFG Entertainment, has just begun and requires certain necessary investments. Based on the judgment that industry barriers are low and there are many entrants, there are still many uncertainties regarding whether this business can succeed.   As the end of 2021 approaches, whether the goodwill brought about by the company's significant mergers and acquisitions in the early stages will be impaired on the balance sheet date has also attracted market attention.   No long-term contracts? The pressure on shipping costs in Q4 may remain Since the end of 2020, commodity prices have been continuously rising, accompanied by persistent reports of 'price increases' in shipping costs. The combined effect has eroded profits in multiple industries. As a listed company with overseas revenue accounting for half of its earnings and toy sales and baby products accounting for over 75%, Aovi Entertainment has been greatly affected by this.   The company's third-quarter report shows that in the first three quarters of 2021, operating revenue increased by 13.77% year-on-year to RMB 2 billion. The net loss amounted to RMB 81.2966 million, including a loss of RMB 94.4805 million in the third quarter, which became the main period of loss for the first nine months.   During the reporting period, the average sea freight rate for the company's baby products business and toy business increased by 207% and 477% year-on-year respectively. Specifically, in the third quarter, the average sea freight rate for baby products and toys was $12,000 per container and $15,000 per container, respectively. The impact of price increases further intensified, resulting in a year-on-year increase of over $40 million in sea freight costs for the third quarter. The prices of bulk raw materials continued to rise, with the procurement cost of plastic raw materials used in major products increasing by about 50%.   Judging from the continuously rising shipping costs of the company, it is unlikely that OFE Entertainment has the possibility of obtaining long-term contracts for shipping. In an interview with a reporter from Cailian News Agency, OFE Entertainment did not directly answer whether it holds long-term contracts. However, it stated that its products are mainly exported to countries such as North America, Central and South America, Europe, and Southeast Asia. In the long run, current shipping prices are expected to return to a reasonable level. In addition to actively maintaining communication with existing suppliers and shipping companies, the company is also developing new shipping companies. By booking space through multiple channels, it expands the guarantee of spare storage space to ensure timely shipment of goods and reduce gross profit losses.   Zhang Xiaofei, an expert from Whale Platform Think Tank and the director of Yumang International Logistics, told reporters that long-term agreements involve cargo space and prices. There must be a threshold for long-term contracts, but it varies among different routes and shipowners. " Xiang Weili, an expert from the Whale Platform Think Tank and Executive Director of Frost & Sullivan Greater China, told reporters that long-term agreement contracts are generally signed by large enterprises with relatively fixed goods and larger volumes. Small and medium-sized enterprises should actively negotiate prices with shipping companies, sign relevant long-term agreements, and hedge against pressure by establishing warehouses at the destination port, actively negotiating with destination port customers, and jointly bearing freight costs. According to incomplete statistics from CICC, Midea, Haier, LONGi, and TCL have all signed strategic cooperation agreements with COSCO Shipping & Logistics Holdings this year.   The growth rate of the Shanghai Shipping Exchange China Export Container Freight Index has slowed down significantly in the past two weeks. Data on October 22 showed that the composite index only rose by 0.5% compared to the previous period. However, this does not indicate that a turning point in shipping costs will occur in the short term.   The latest report from Zhongzhou Futures on October 18th indicates that the significant increase in global maritime shipping is mainly due to post-pandemic supply-demand mismatches, structural differences in maritime shipping, and fuel prices. As the traditional peak season of the fourth quarter gradually ends, there are signs of weakening in the forward charter market. Fourth-quarter freight rates may slightly decline, but due to the potential rise in crude oil prices, the cost impact is expected to keep freight rates fluctuating at a relatively high level.   Another maritime analyst told reporters that shipping prices can still remain high in Q4, as the mismatch between supply and demand has not been completely resolved.   Adjust the proposed investment amount for fundraising projects. The inherent advantages of online games still need to be developed through post-launch operations. TikTok collectibles are currently the most anticipated business of OFE Entertainment. Judging from the performance of related star companies, this business is characterized by high profit margins and strong growth potential. For OFE Entertainment, which specializes in toy development and sales with a focus on IPs, entering the TikTok collectibles industry undoubtedly has an inherent advantage.   The layout of the pop culture business started in the second half of 2020, and production lines began construction in the first half of 2021. In the second half of the year, the company raised its strategic positioning for the pop culture business again, establishing a Pop Culture Business Unit for independent management and continued resource support. Currently, the pop culture team has nearly 50 members.   It can be seen that OPPO Entertainment is making great efforts to build the trend gaming business into the company's second growth curve.   However, it cannot be ignored that entering a new industry requires certain investment. From the perspective of book value, the company's cash flow situation is not optimistic. Data from the third-quarter report shows that the company has 230 million yuan in monetary funds and 1.121 billion yuan in short-term loans, indicating a significant funding gap. The net operating cash flow was only 17.8715 million yuan, resulting in a net outflow of 338 million yuan in cash and cash equivalents, which raises concerns about its ability to generate revenue.   In terms of offline channels, OPPO Entertainment mainly collaborates with other companies. The company told the Financial News and Communications Agency that its offline channels cover over 10,000 stores including Ming Chuang Youpin, Lingli, KK Group, Sanfu, and FamilyMart convenience stores.   In comparison, Poplar Mart has chosen to build its own offline channels. According to statistics from Tianfeng Securities, in June 2021, it had a total of 212 offline stores in the Chinese mainland, covering 47 cities.   Perhaps based on the above circumstances, AOV Entertainment launched the 'Non-Public Offering of Shares' plan in May 2020, aiming to raise approximately 1.1 billion yuan. However, the final results showed that the private placement raised about 544 million yuan at a price of 4.48 yuan per share, which is quite different from the planned target. This also represents to some extent the capital market's preference for the company's fundraising projects.   The latest announcement shows that due to the decline in fundraising scale, the company has decided to adjust the proposed investment amount for the non-public offering of shares. A media industry analyst told reporters: 'I believe that trend toys have social attributes. After buying them, people can take photos and communicate with friends. Additionally, from an IP perspective, observing Popomart reveals that their own IPs are the main sales force, so operational capabilities are very important. Moreover, the barriers to entry in this industry are low, and anyone can participate.'   Public information shows that 52TOYS recently announced the completion of a $400 million Series C financing; AOF's partner MingChuang Youpin also entered the trend gaming business last year and launched the new brand TOPTOY. Tencent invested in the trend gaming company ViViCat, holding a 30% stake. Alibaba Pictures established a new trend gaming business brand 'Koi Joy'.   The industry is booming, and the trend of consolidation into a few tracks has become the most intuitive perception. Against this backdrop, there is significant uncertainty about whether OPPO Entertainment can break through.   Finally, it is worth noting that the past 'buying, buying, buying' M&A rhythm has brought a huge goodwill to OFE Entertainment. After years of impairment, there is still about 1.85 billion yuan in goodwill. Among them, the book value of Beijing April Sky's goodwill is 448 million yuan, and the book value of BabyTrend Inc.'s goodwill is 466 million yuan. However, according to the 2021 interim report, Beijing April Sky's net profit was a loss of 9.0975 billion yuan, while Baby Trend, Inc.'s net profit decreased by 55% compared to the same period last year.   It can be seen that the company faces significant pressure on goodwill impairment. If the aforementioned companies do not perform well in the future, it is very likely that Aofei Entertainment will continue to make provisions for goodwill impairment on its balance sheet date.   Frost & Sullivan Insight & Extended Readings   Q: Are there any corresponding business volume or capital requirement thresholds for the long-term strategic agreements of major shipping companies? What strategies can small and medium-sized enterprises use in the face of rising maritime costs? A: In the industry, large cargo owners and major shipping companies generally sign long-term strategic agreements to protect their interests. Both parties will agree on a business threshold. Therefore, those who sign long-term agreement contracts are usually large enterprises with relatively fixed goods and larger volumes, such as South Korea's Pan Ocean Shipping and global energy giant Shell, which have continuously signed long-term strategic agreements, and Maersk and Jingke Energy have signed strategic cooperation agreements. Long-term agreements typically set contract terms based on the shipping company's available space, customer volume, and current freight rates. A long-term agreement is usually just a foundation contract; in most cases, both parties will agree to sign separate transportation contracts for each shipment, clarifying and detailing their respective rights and responsibilities. In some contract negotiations, both parties may agree to set a range of freight rate fluctuations. Within this range, they share risks and benefits, which is more fair for both parties.   Currently, the industry encourages enterprises to sign long-term agreements with shipping companies. For small and medium-sized enterprises (SMEs), they can actively negotiate prices with shipping companies and sign relevant long-term agreements to lock in risks and costs. In addition, by establishing warehouses at the port of destination, SMEs can enhance their supply chain integration capabilities and actively expand their supply chains. Finally, SMEs can actively negotiate with customers at the port of destination, jointly bear freight costs, and complete order deliveries as soon as possible.   Q: It has been observed that some listed companies have not signed long-term agreements with shipping companies. From the company's perspective, what are the advantages and disadvantages of signing long-term strategic agreements with shipping companies? A: Signing long-term agreements can stabilize freight rates to a certain extent. In the current environment of rapidly rising freight prices, companies that sign long-term agreements can control costs, stabilize supply chains, and reduce operational risks to a certain extent.   The downside is that long-term agreements often fail to accurately predict future industry development trends, and the flexibility of clause settings is relatively low. This makes it more difficult to execute long-term agreements when there are changes in the shipping industry or when foreign trade conditions improve. For example, long-term agreements signed before 2020 had lower prices due to widespread market pessimism about future industry development. Therefore, after freight rates rose, most maritime companies reduced bookings, container supply, and postponed exports, causing goods not to be shipped normally.   *This article is reprinted from 'Cainiao Finance Union', with reporter Ren Chaoyu. The original title was 'AOF Entertainment's Q3 Profit Turns into Losses, Rising Shipping Costs May Continue to Erode Revenue, and the Gaming Business Still Needs a Breakthrough'.

Frost & Sullivan insights On October 13, at a policy briefing held by the State Council Information Office, Li Ming, Deputy Chief Engineer and Director of Marketing Department of State Grid Corporation of China, stated that it is expected that the maximum load this winter will reach 1 billion kilowatts, exceeding the historical level of 970 million kilowatts during the same period. After experiencing a period of power supply tension, with the arrival of winter's peak electricity consumption, will the tight power supply situation continue? How can the power grid make efforts this year to ensure power supply safety? The power grid has annual imbalances and gaps. When, and how can these be stabilized? Will the new power system dominated by renewable energy exacerbate this phenomenon in the future? Analysts from Frost & Sullivan were interviewed by China Energy News. Focus on ensuring power supply this winter, and we will provide you with a detailed interpretation. China Energy News On October 13, at a policy briefing held by the State Council Information Office, Li Ming, Deputy Chief Engineer and Director of Marketing Department of the State Grid Corporation of China, stated that it is expected that the maximum load this winter will reach 1 billion kilowatts, exceeding the historical level of 970 million kilowatts during the same period. The "triple convergence" of the peak electricity consumption period in the north, the dry season for hydropower, and the heating period for cogeneration units “will further increase power demand." Overall, the system will be in a state of tight balance, with local hard shortages and still significant pressure on the power grid to ensure power supply.   Under the pressure of ensuring supply, the transformation of the power system itself has received even more attention. After successfully constructing a new type of power system, will the grid be more adept at handling the pressure of ensuring power supply?   Facing the test of a maximum load of 1 billion kilowatts After experiencing a period of power supply strain some time ago, with the arrival of winter's peak electricity consumption, will the tight power situation continue under the maximum load of 1 billion kilowatts?   A relevant official from the Economic Operation Regulation Bureau of the National Development and Reform Commission recently stated that this winter, the total installed capacity across the country will reach about 24 billion kilowatts, an increase of about 200 million kilowatts year-on-year. The effective peak load will be increased by more than 60 million kilowatts, and the peak power generation capacity can exceed 12 billion kilowatts. The country's maximum power generation capacity can ensure the highest demand for electricity consumption, and there is confidence and capability to ensure winter power supply.   Jiangxing Smart CFO Shao Junsong believes that with the joint efforts of relevant national departments, there is basically no risk of power outages during the peak electricity consumption period this winter and next spring.   "In the current situation, there is an overall imbalance between electricity supply and demand. Although residential and general industrial and commercial electricity use will be guaranteed, large industrial users, especially those with high energy consumption, are likely to face relatively strict orderly electricity usage measures," said Shao Junsong.   Wang Gengye, consulting director of Frost & Sullivan's Energy Carbon Double Reduction Business Unit in Greater China, analyzed that one of the core reasons for this round of power rationing is supply-demand imbalance. On the supply side, the issue of rising coal prices remains an objective reality at present; on the electricity price side, although the electricity pricing mechanism has been announced to be more market-oriented after the reform was introduced on October 8th, there are still fundamental issues with the coal-fired power pricing mechanism that need to be resolved.   This forces all links of the power system to be more coordinated Shao Junsong told reporters that under the current market conditions, due to the special nature of electricity as a commodity, power supply safety depends on a strong grid structure, safe operation on the power generation side, and orderly consumption on the power consumption side.   He stated that although China's power grid network structure is relatively sound and strong, the risk of insufficient power generation capacity due to issues such as coal-fired power inversion and fluctuating power generation from new energy stations on the generation side could affect grid safety. At the same time, on the consumption side, if a large number of users cannot implement an orderly electricity use plan, it can also impact grid safety.   The relevant person in charge of the National Development and Reform Commission stated that it is necessary to coordinate and strengthen the construction of power supply capacity. Accelerate the progress of important power source grid projects, ensure that coal-fired and gas-fired power units are fully operational, promote the frequent and full generation of clean energy, and enhance power supply capacity through multiple channels.   Wang Gengye told reporters that currently, against the backdrop of insufficient stability and volume of new energy power generation, thermal power generation remains the main source of electricity in China. However, the price increase of coal far exceeds the affordability of electricity prices, coupled with carbon reduction constraints, makes it still a prominent pressure for power grids to ensure power supply.   Industry insiders told reporters that in this situation, on the one hand, the power grid needs to transform as soon as possible and accelerate the construction of a new power system, making the grid itself more flexible and resilient. This will better enable the adjustment of power supply and demand gaps, achieving balance between supply and demand through dispatching; on the other hand, it must also be recognized that achieving stable and high-quality power supply is not just the responsibility of the power grid alone. It requires joint efforts from both the power source side and the load side, and more importantly, policy guidance from an overall perspective and throughout the entire process.   Shao Junsong believes that to ensure power supply safety, multiple measures need to be taken: First, through digital and intelligent means, inspect and maintain power transmission, distribution, and transformation facilities to ensure the safety of the grid's structure and the normal operation of equipment; second, make good use of information systems to accurately predict power generation from power plants, especially new energy sources, ensuring the accuracy of prediction data. At the same time, coordinate and regulate energy storage stations on both the source and grid sides to ensure that the electricity fed into the grid meets expectations; finally, accelerate the advancement of virtual power plant services on the user side, transforming user-side orderly electricity consumption plans with mandatory enforcement characteristics into flexible electricity consumption plans regulated through market mechanisms, allowing a large number of users to spontaneously participate in actions to ensure power supply safety.   Developing new energy will not exacerbate the risk of power rationing Currently, the proportion of new energy is still low, leading to a phenomenon of power supply shortages. In the future, as the proportion of new energy continues to rise, will the volatility and intermittency of new energy pose greater challenges to electricity stability?   In response, Shao Junsong explained that due to the natural difficulty of storing electricity, under the circumstances where the proportion of new energy is gradually increasing and energy storage stations are not widely used, the power grid operation will always be in a state of tight balance. However, with the promotion and application of energy storage technology, through the function of energy storage buffer pools, it is possible to adjust the amount of electricity in both temporal and spatial dimensions.   In addition, the power grid itself still has room for improvement. By changing the dispatching and operating modes of the grid, it can gradually adapt to a power supply structure dominated by new energy sources.   "In the future, power market transactions in various regions will strictly implement a market-based price mechanism of 'benchmark price + floating range', allowing more electricity to enter the market. At the same time, after the completion of the new power system, due to the synchronous realization of coordinated regulation of sources, grids, loads, and storage, power supply will only be safer, and the grid's safe and stable operation margin will be greater," said Shao Junsong.   In Wang Gengye's view, the proportion of new energy power generation will continue to increase in the future. Building a new power system with new energy as the main body is gradually reducing China's dependence on thermal power, which can effectively alleviate the risk of power rationing caused by carbon emission control.   "Effectively improve the timeliness of source-grid-load storage coordinated control services, ensure the credibility and security of business data, enhance the flexible consumption of distributed power sources, precise control of power generation and load, and diversified coordination capabilities among source-grid-load storage. Ultimately, this can promote the consumption of clean energy, improve the safe and stable operation level of the power grid, and eliminate concerns about power rationing issues caused by a high proportion of new energy," said Wang Gengye. *This article is reprinted from 'China Energy News', authored by Han Yifei, with the original title 'Surpassing the 970 million kilowatt load level of the same period in history, the maximum power load this winter is expected to reach 1 billion kilowatts - Winter electricity peak, grid under test again'.

On October 28, 2021, PLESTY, in collaboration with Baidu Smart Cloud, successfully concluded the Physical Retail Digital Empowerment Summit Forum at the Shangri-La Shanghai Jing'an. Executives from leading consumer goods brands at home and abroad, industry experts, digital experts, management experts, and channel experts gathered together to share insights on innovative practices, build an industry exchange circle, and jointly explore the practical applications of digital technology empowering retail channels and the infinite potential for driving business development. Ding Zhuowen, Managing Director of Frost & Sullivan (abbreviated as: Frost & Sullivan), Senior Vice President of LeadLeo, and Dean of the LeadLeo Research Institute, was invited to attend this forum and delivered a keynote speech on the digital transformation of the consumer industry. Digital Lighting Path Ding Zhuowen stated that, relying on the upgrade of digital supply networks, China's retail, clothing, home appliances, catering, and tourism industries have achieved remarkable results. The leading enterprises in these industries have a relatively mature level of digitization and are leading the overall digital upgrading of the industry. The report shows that over 85% of Chinese consumer industry enterprises have initiated digital transformation strategies. Retail and home appliance industries lead in terms of digital penetration rates, with average profit margins in highly digitalized industries increasing by 2 to 3 times compared to those in less digitally advanced industries. Thanks to omnichannel, analytics-driven business models, as well as the incubation of the sharing economy, by 2030, the digital value creation of the consumer industry will account for about 25%-30% of the total industry value. Subsequently, Ding Zhuowen introduced that the main paths for enterprise digital transformation can be divided into five methods: self-establishment, acquisition, partnership, investment, and incubation. The primary objectives of consumer enterprises' digital business are mainly to revitalize existing assets, reduce costs and increase efficiency, develop new increments, and incubate variables. For example, JD.com acquired Wuxing Electric Appliance to improve home appliance logistics efficiency and expand customer base; iFlytek drones joined hands with Yonghui Supermarket to create the world's first 'drones delivering meals' demonstration store; Xiaomi has deployed pure rice technology and other businesses through angel investments, strategic investments, etc.; Starbucks has adopted targeted omnichannel marketing, achieving significantly higher single-point growth and per square foot efficiency than its peers. When discussing digital business models, Ding Zhuowen believes that the digital transformation of consumer enterprises can effectively promote business model changes. By establishing consumer-centric business models from dimensions such as brand websites, brand collaborations, and enterprise applications, companies can enhance their revenue potential. Research has found that 81% of consumer decisions come online. During the purchasing process, consumers use multiple channels, and digital enterprises provide various purchase channels based on consumers' unpredictable needs. In addition, over 30% of offline sales are influenced by online content. Companies can use social media to give consumers opportunities to express their views, use data analysis throughout the consumer marketing and sales cycle, and the online retailing and high coverage of e-commerce help to tap into corporate revenue potential. When discussing digital consumer experiences, Ding Zhuowen took retail enterprises such as Uniqlo and IKEA as examples to further elaborate on how these companies have launched AR products to assist in enhancing their brand advantages. Uniqlo placed the first Uniqlo Magic Mirror in its store in San Francisco, USA, and subsequently added more functions, gradually expanding it globally, increasing transaction conversion rates by 15%. IKEA launched an application called IKEA Place in 2017, covering over 2,000 products of various brands with an accuracy placement rate exceeding 98%, and combined with the popularity of AR Kits, introduced home AR, promoting IKEA's Future Lab Space10 products, with app monthly active users exceeding 150 million. Practice has proven that AR has a significant impact on the retail e-commerce market, mainly targeting traditional offline retailers and traditional advertising companies. It reduces consumers' waiting time by 70%, significantly improves their shopping experience, and also reduces retailers' labor costs and customer acquisition costs. Subsequently, Ding Zhuowen analyzed three carriers for the digital transformation of the consumer industry: consumer data, experiential economy, and omnichannel retail.   Consumer data can serve as an effective carrier for enterprises' digital transformation, helping them enhance customization in the production process, marketing precision, and consumer experience. It forms a transaction loop, improves the value chain of consumer enterprises, and allows them to build a digital business model centered around consumers. Tmall Home furnishing has redefined the design store experience through innovative design thinking and disruptive retail element restructuring. By using intelligent means and digital services, it has enhanced the effectiveness of backend operations, achieving a 60% increase in average order value. The experience economy model includes personalized product portfolios, retail experiences, product customization, and service experiences. Taking Midea as an example, digital production is tailored to customer needs, integrating production data for intelligent analysis, reducing rework costs by 50%-60%, and shortening the procurement process by 25%. Omni-channel retail provides a consistent, personalized, and interactive customer experience while reducing service costs. The user conversion rate is increased by 20% compared to multi-channel retail, and service costs are reduced by 32%. Omni-channel retail maximizes customer satisfaction, which effectively enhances customer stickiness and average order value (AOV). The AOV is increased by 35% compared to cross-channel retail, and by 55% compared to multi-channel retail. At the end of his speech, Ding Zhuowen summarized that among many industries, the retail industry has a relatively high penetration rate of digital transformation, but the average level of digital transformation is lower. The digital transformation achievements of startups in convenience stores, supermarkets, and specialty stores are more evident. Offline retail digital comprehensive service providers and offline digital sales SaaS platforms are powerful tools for consumer retail enterprises' digital transformation, enabling them to acquire digital operational capabilities, explore the depth of digital transformation, enhance the diversity of place-person-item-person, and Plesstech is an outstanding, representative, and rapidly growing company on this track, worthy of long-term tracking and research. In addition, Ting Zhuowen revealed that in December this year, PLS will jointly release the 2021 offline sales white paper with Frost & Sullivan and LeadLeo. Stay tuned. With the development of social economy, the digital penetration rate of the three major industries is increasing day by day, and traditional retail is also constantly evolving towards new retail. The application innovation of digital technology is of great significance for the future. The development process of digitization is being greatly accelerated, and the transformation and upgrading of digital technology, empowering the physical retail industry and its large-scale application, marks humanity's full entry into the data era. In the future, it is expected that more and more enterprises will embrace digitization, achieve digital transformation, and promote industry change.

Frost & Sullivan insights Data from the World Health Organization show that there are currently about 54 million people suffering from depression and about 41 million suffering from anxiety disorders in China. In recent years, China's demand for psychological counseling, diagnosis, and treatment has continued to grow. Reports indicate that by 2023, the market size of this industry is expected to exceed 95 billion yuan (14.7 billion US dollars). As of 2018, China had only about 6,000 psychologists and approximately 1.2 million certified counselors. However, among these 1.2 million counselors, only 30,000 to 40,000 are full-time or part-time practitioners in psychological counseling, which is far below the actual demand. The World Health Organization recommends a ratio of one counselor per 1,000 people, so China would need at least 1.3 million psychological counselors.   Yang Zhi, 21 years old, a student from Qingdao, Shandong Province, waited for two hours before he could finally get in for a follow-up diagnosis by a psychologist. In lieu of that, he was only given five minutes for a brief chat.   Yang Zhi, a 21-year-old student from Qingdao, Shandong Province, waited for two hours before finally receiving the follow-up diagnosis from a psychologist. However, the so-called follow-up diagnosis was just a brief five-minute conversation.   Devastated, Yang wondered if consulting a psychologist for mental health solutions was the right thing to do anymore, given that the field seems to have acquired dimensions of a booming, profitable business.   Yang Zhi has been hit hard. Considering the current good development in this field and the many available treatment services, he is unsure whether he should continue consulting a professional psychologist for mental health issues.   Yang recalled with a sad face later: 'It was different from what I had expected - a longer chat about my recent experiences. I also wanted to know if it's normal to forget things after starting to take prescribed antidepressants. But my psychologist looked so hurried. She was constantly glancing at the long queue outside her office, and I couldn't keep my mind focused in that situation.'   Yang Zhi recalled: 'This was different from what I expected—I thought we would have a detailed conversation about my recent situation. I also wanted to know if it's normal to forget things after starting taking prescription antidepressants, but my psychologist seemed very hurried, she often looked at the long line outside the office, and in that situation, I couldn't keep my thoughts straight.'   Yang then recalled his first visit to the clinic. 'It was almost the same. I waited for over an hour to see the doctor. It struck me that there were so many people who looked just fine from the outside but were struggling with various difficulties in their lives, just like me.'   Yang Zhi continued to recall his first visit to the clinic, 'It was pretty much the same, I waited for over an hour before seeing a doctor. But what shocked me was that there were so many people like me, who seemingly seemed fine on the surface but were actually struggling with various difficulties in life.'   He quickly turned to online psychological consulting platforms, as suggested by his friends.   At the suggestion of a friend, he quickly turned to internet psychological counseling platforms.   "Offline clinics are always crowded. My friends told me that online platforms are easier to access, offer good confidentiality, can help users avoid the potential awkwardness of encountering an acquaintance or colleague, and are more flexible," Yang said.   "Offline clinics have always been overcrowded. My friend told me that online platforms are easier to access, offer better privacy, help users avoid embarrassment with acquaintances or colleagues, and are also more flexible," said Yang Zhi.   "However, I was shocked to see some of the online counselors identifying themselves with fancy designations like 'relationship expert' and 'spiritual hypnosis instructor'. They offer services such as saving a relationship, helping one relieve stress after a breakup, as well as dealing with anxiety and obsessive-compulsive disorder. But somehow I find it hard to trust them," he said.   "However, when I see some online consultants using fancy titles such as 'relationship expert' or 'psychic hypnotist' to market themselves, I'm shocked. The services they offer include saving a relationship, helping you cope with post-breakup stress, and so on, as well as helping you deal with anxiety and obsessive-compulsive disorder. But for some reason, I find it hard to believe them," he said.   Yang is not the only one suffering from depression who hasn't found an ideal place for therapy.   Yang Zhi is not the only one suffering from depression who cannot find an ideal treatment location. Data from the World Health Organization shows that about 54 million people in China are currently suffering from depression, and about 41 million from anxiety disorders.   Data from the World Health Organization show that there are currently about 54 million people suffering from depression and about 41 million suffering from anxiety disorder in China.   Experts say that concerns related to mental health have spurred a multi-billion-dollar business. However, the insufficient number of clinics and professionals has made online platforms an area of focus for investment, which has led to concerns about their qualification and reliability.   Experts say that concerns about mental health have stimulated billions of dollars in business. However, due to the shortage of clinics and professionals, internet platforms have become a key area for investment, leading to concerns about their qualifications and reliability.   In recent years, demand for psychological counseling, diagnosis, and treatment in China has continued to grow, spurring a business whose market size is estimated to exceed 950（$147.00 billion）by 2023, according to the market research provider LeadLeo Research Institute.   In recent years, China's demand for psychological counseling, diagnosis, and treatment has continued to grow. According to data from the market research institution LeadLeo Research Institute, by 2023, the industry's market size is expected to exceed 95 billion RMB (14.7 billion USD).   "Currently, people in China are experiencing increasing pressure from competition at the workplace. In addition, the expansion of cities and the massive rural-to-urban movement of residents have made some people unable to manage challenges associated with rapid urbanization," said Neil Wang, president of consultancy Frost & Sullivan China.   "Currently, Chinese people are facing increasing competitive pressure in the workplace. In addition, urban expansion and large-scale rural-to-urban migration have made it difficult for some individuals to cope with the challenges brought about by rapid urbanization," said Dr. Wang Xin, President of Frost & Sullivan Greater China.   "In addition, people also face great pressure from housing, providing good educational resources to the next generation, and taking care of their aging parents, especially when many middle-aged people are the only child in the family. All these factors have led to a higher demand for psychological counseling, diagnosis, and treatment," Wang said.   "In addition, people are also facing various immense pressures, such as housing, providing good educational resources for the next generation, and taking care of elderly parents, especially many middle-aged people who are only children in their families, which pose particularly great challenges. All these circumstances have led to an increased demand for psychological counseling, diagnosis, and treatment," said Dr. Wang Xin.   The report said that the COVID-19 pandemic outbreak and self-quarantine requirements also had a huge impact on people's mental health. Many people who were interviewed have reflected that physical distancing from family and friends, as well as financial losses, have led to boredom, depression, anxiety, and many other symptoms.   The report states that the outbreak of the COVID-19 pandemic and the requirement for self-quarantine have also had a significant impact on people's mental health. Many interviewed individuals reported maintaining physical distance from family and friends, as well as various economic losses, which have led to boredom, depression, anxiety, and many other symptoms.   To address this issue, the Chinese government issued guidelines on mental health protection. The government has formed a team of specialists for real-time research and evaluation of major mental health issues, another team of psychologists for people's mental health assessment, grading, on-site treatment, a 24/7 hotline for psychological aid, and groups of other social forces.   To address this issue, the Chinese government has issued guidelines for mental health protection. The government has formed an expert team that conducts real-time research and evaluation of major mental health problems, as well as a psychological expert team responsible for assessing, grading, and providing on-site treatment for people's mental health. There is also a 7*24-hour psychological assistance hotline, along with many other social group forces.   "The government, hospitals, and other social forces have made great efforts in providing mental health aid. However, the problem of insufficient number of offline clinics and professionals still exists and has become more prominent than before," said Zhao Hao, founder and head of Golden Crown (Beijing) International Cultural Development Co Ltd, a Beijing-based counseling and training company specializing in parenting, marriage, and sexual harassment prevention.   "The government, hospitals, and other social forces have made many efforts in mental health assistance, but the problem of insufficient offline clinics and professionals still exists, and it is more pronounced than ever," said Zhao Hao, founder and CEO of Golden Crown (Beijing) International Cultural Development Co., Ltd., a consulting and training company headquartered in Beijing specializing in areas such as parenting, marriage, and sexual harassment prevention.   According to a recent report by the LeadLeo Research Institute, a market research provider, how to educate children has become the second most frequently counseled topic on online psychological clinics, after self-adjustment, and is followed by social interactions, career guidance and marriage issues. About 46 percent of people surveyed showed a strong demand for a parenting counseling session, accounting for a significant portion of the multi-billion-dollar business.   A recent report by LeadLeo Research Institute shows, How to educate children has become the second most frequently asked topic on online mental health platforms, only after self-adjustment. Followed by social issues, career guidance, and marriage problems. The report states that approximately 46% of respondents indicated a high demand for parenting advice, which accounts for a significant portion of the billions in business revenue.   The LeadLeo report shows that as of 2018, there were only about 6,000 psychologists and about 1.2 million certified counselors in China. However, only 30,000 to 40,000 of these 1.2 million counselors are working full-time or part-time in the field of psychological counseling. Their number is far below the actual demand. According to the WHO's recommended counselor-to-person ratio of 1:1,000, China needs at least 1.3 million psychological counselors, the LeadLeo report said.   The report from LeadLeo shows, As of 2018, there were only about 6,000 psychologists and approximately 1.2 million certified counselors in China. However, among these 1.2 million counselors, only 30,000 to 40,000 are full-time or part-time practitioners of psychological counseling, which is far below the actual demand. The report states, The World Health Organization recommends a ratio of one psychologist to 1,000 population. Therefore, China would need at least 1.3 million psychologists.   "There is great market demand for vocational training on how to become a psychological counselor, because more and more people find the sector promising and want to enter it, while becoming a counselor has relatively lower requirements compared with becoming a psychiatrist or psychologist," Zhao said.   "The market demand for vocational training for psychological counselors is very high because more and more people feel that this industry has prospects and want to enter it. Compared to becoming a psychologist or psychiatrist, becoming a psychological counselor requires relatively lower qualifications," said Zhao Hao.   Currently in China, there are three types of people who can solve mental health related problems: psychiatrists, psychologists, and psychological counselors.   Currently in China, there are three categories of professionals who can address mental health-related issues: psychiatrists, psychologists, and counselors.   Psychiatrists are medical doctors who specialize in the diagnosis, treatment, and prevention of mental health disorders.   Psychiatrists are doctors who specialize in the diagnosis, treatment, and prevention of mental health disorders.   Psychologists are not necessarily doctors. They provide diagnoses and therapies to help patients cope with various stresses, recover from trauma, and manage mental health disorders.   Psychologists are not necessarily doctors. They provide diagnoses and treatments to help patients cope with various stresses, recover from trauma, and manage mental health disorders.   Psychological counselors spend time talking with patients about an issue and working through it in one-on-one counseling sessions. However, they do not have the authority to prescribe medication or make diagnoses.   Psychologists spend time discussing a problem with patients and resolving it in one-on-one counseling sessions, but they do not have the authority to prescribe or diagnose.   In the past, psychological counselors were required to undergo specialized vocational training, pass certain examinations, and obtain a government-issued license before they could engage in psychological counseling activities.   In the past, psychological counselors had to undergo specialized vocational training, pass certain exams, and obtain a license issued by the government before they could engage in psychological counseling activities.   In 2017, the license was cancelled by the Ministry of Human Resources and Social Security, which implemented a checklist management mechanism for psychological counselors in order to raise the bar for entry-level counselors.   In 2017, the Ministry of Human Resources and Social Security cancelled this license and implemented a list management mechanism for psychological counselors to raise the threshold for junior counselors.   The LeadLeo report pointed out that the requirements for previous license applications were at a low level, and the examinations were also not tough enough.   LeadLeo's report indicates that previous applications for psychological counseling licensure had lower requirements and the exams were not strict enough.   "At present, there is no unified national standard to determine whether a person is qualified to carry out psychological counseling and treatment work. As a result, educational background, practical experience, and personal abilities have become important factors that clinics would consider when hiring new staff," Zhao said.   "At present, there is no unified standard in China to determine whether a person is qualified for psychological counseling and treatment work. Therefore, educational background, practical experience, and personal ability become important factors that clinics consider when recruiting new staff," said Zhao Hao.   "However, the industry still faces challenges as there are quite a number of unqualified counselors, and even psychologists, who lack decent educational backgrounds or good practicing performance, but are still working to offer consultation or treatment to patients," he said.   "However, the industry still faces many challenges because there are quite a number of unqualified counselors or psychologists who lack a good educational background or excellent practical performance yet continue to provide counseling or treatment for patients," he said.   With the rapid development of internet technology and more young people seeking psychological counseling, an increasing number of people are turning to online platforms for psychological counseling and treatment.   With the rapid development of internet technology and the increasing number of young people seeking psychological counseling, the number of people turning to online platforms for psychological counseling and treatment is growing rapidly. Sun Fei, 28, an office worker based in Beijing, has been relying on the online mental health care platform haoxinqing.cn. The Chinese name translates to 'good mood'.   Sun Fei, 28 years old, a Beijing office worker, has always relied on an internet healthcare platform in the field of mental health and well-being called haoxinqing.cn.   "On Haoxinqing, I can choose from various doctors at hospitals across the country with a simple mouse-click or screen-tap. I also get to choose whether to call, text, or set up an in-person meeting for diagnosis. It is much more convenient and flexible than going to an offline clinic," Sun said.   "On the Happy Mood website, I can simply click with my mouse or screen to select doctors from hospitals across the country. I can also choose to have a diagnosis done by phone or text message, or through an in-person interview. This is much more convenient and flexible than going to an offline clinic," said Sun Fei.   "In addition, the website has a specific column for each doctor that clearly states their educational and clinical experience, as well as the hospitals they are currently working in. The design makes it look reliable," she said.   "Moreover, the website has a dedicated section for each doctor, clearly introducing their educational background and clinical experience, as well as which hospital they are currently working at. This design makes the website seem very reliable," said Sun Fei.   According to the LeadLeo report, compared with offline clinics, online platforms leverage fragmented doctors' time and their desire for higher income besides regular salaries to offer patients services that are more flexible, easier to access, and allow them to communicate sufficiently.   The LeadLeo research report indicates that compared to offline clinics, online platforms offer patients more flexible, accessible services that are easier to obtain and allow for sufficient time for communication, taking advantage of doctors' fragmented time and their desire to earn additional income beyond a fixed salary.   The report also stated that online hospitals and clinics with a number of psychiatrists and psychologists from hospitals such as Haoxinqing can make a profit through diagnosis, treatment, and counseling services.   The report also states that internet healthcare platforms like 'Good Mood', which have many psychiatrists and psychologists on board, can make profits through diagnosis, treatment, and consulting services.   In September, ByteDance, the parent company of short video-sharing app TikTok, led the Series C funding round for haoxinqing, marking the largest financing of an online platform in the region.   September, short video apps TikTok ByteDance, the parent company of TikTok, led the Series C financing for Good Mood, becoming the largest financing deal in the domestic mental health internet sector.   In addition to online hospitals and clinics, there are also organizations and businesses that focus on training, counseling, and other forms of services to make a profit.   In addition to internet healthcare platforms, there are also some organizations and businesses that focus on training, consulting, and other forms of services to generate revenue.   Take KnowYourself. Established in 2016, the company has a WeChat account that focuses on producing content to help readers with all sorts of problems in personal growth, work, and relationships.   with Know Yourself For example, the company was established in 2016, and its WeChat official account focuses on producing content to help readers solve various problems in their personal growth, work, and interpersonal relationships.   It has also developed an app called Yueshi (Chinese for lunar eclipse), which offers services such as counseling, psychological assessments, guidance on practicing breathing and meditation, online communities for people to share thoughts, as well as games, videos, and voices to help people relieve stress.   The company has also developed an app called 'Lunar Eclipse', which provides users with services such as psychological counseling, psychological assessment, breathing and meditation guidance. Users can share their emotions and thoughts in online communities, and the software offers many games, videos, and audio materials to help users relieve stress.   To date, KnowYourself's social media accounts have more than 10 million users. "Online psychological counseling and treatment platforms are developing rapidly in recent years, but the industry lacks a standard to supervise involving psychologists and counselors to determine whether they are qualified to offer a range of services," Zhao of Golden Crown said.   To date, Know Yourself The social media account has over 10 million users. "Online psychological counseling and treatment platforms have developed rapidly in recent years, but there is still a lack of an industry standard to supervise psychologists and counselors within them to determine whether they are qualified to provide a range of services," said Zhao Hao, the Golden Crowned One.   "The industry also lacks regulations to govern online platforms' offers to 'treat' patients. Some online platforms have launched services that are eye-catching but not recognized by professionals or assessed by any academic research," he said.   "The industry also lacks regulations on how online platforms treat patients. Some online platforms have launched eye-catching services, but these services have not been recognized by professionals or evaluated by any academic research," said Zhao Hao.   "In the future, more efforts are needed to ensure the long-term sustainable development of the industry," he said.   "Looking ahead, we need to make more efforts to ensure the long-term sustainable development of the industry," said Zhao Hao.   *This article is reprinted from China Daily, authored by LIU YUKUN, with the original title 'Wanted: Caregivers for a beautiful mind'.

On October 15, 2021, Frost & Sullivan's LeadLeo Artificial Intelligence Research Institute officially opened at the Xingzhi Science and Technology Park in Nanjing Economic and Technological Development Zone, marking Frost & Sullivan's further deepening of its engagement in strategic national industry research and its firm determination to expand its presence across the Yangtze River Delta.   Dr. Wang Xin, Global Partner and President of Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), Wang Chenhui, Managing Partner and Managing Director, Wang Xiaojing, Partner and Managing Director, Yang Xiaocheng, Co-founder and CEO of LeadLeo, and other leaders and guests, along with some colleagues from Frost & Sullivan and LeadLeo, attended the opening ceremony and held a ribbon-cutting event.   Join hands to pool talents and wisdom, and jointly promote industrial prosperity   Frost & Sullivan, integrating 60 years of global consulting experience, has been serving the booming Chinese market with dedication for 23 years. With a global perspective, it helps clients accelerate their business growth and achieve leading benchmarks in industry growth, innovation, and technology. As a globally leading growth consulting firm with rich enterprise service experience, Frost & Sullivan is also a benchmark introduced through innovative cooperation models between Nanjing Economic and Technological Development Zone and Xingang High-tech Park. Frost & Sullivan will join hands with LeadLeo, a leading domestic original research content platform and new type of enterprise service provider, to provide strong research service support and influence support for the further development of Nanjing's artificial intelligence industry and the growth of enterprises within the economic development zone cluster. It is reported that the 'Frost & Sullivan LeadLeo Research Institute' is a comprehensive industry and enterprise service platform jointly built by Frost & Sullivan and LeadLeo, focusing on full-industry data research and exploration of corporate and business cases. It specializes in promoting the healthy, orderly, and sustainable development of industries by centering on industry focal points and hot issues, based on rich case studies and massive data, through an open cooperation research platform.   Dr. Wang Xin stated that the Frost & Sullivan LeadLeo Artificial Intelligence Research Institute will, under the guidance of Nanjing Economic and Technological Development Zone, further focus on the artificial intelligence industry, providing professional and comprehensive consulting services and data support to artificial intelligence enterprises. The institute will prioritize serving enterprises in the development zone, forming a high-quality service team, conducting a thorough survey of enterprises within the park, analyzing their needs, and constructing a big data map of park enterprises including enterprise valuation and operational status, as well as an interactive VR exhibition area for enterprise display. At the same time, the institute will make full use of the industry resource advantages of Frost & Sullivan, introducing top global entrepreneurial innovation projects to gather in the development zone, accelerating the industrial development of the park.   Innovation Builds the Ecosystem, and We Plan for a New Chapter in Development   To fully showcase the research institute's characteristics and present a gift to Nanjing's 'Jin Qiao Conference', on the opening day, Frost & Sullivan and LeadLeo jointly hosted the 2021 China Artificial Intelligence Insights Conference, and the unveiling ceremony of the Frost & Sullivan LeadLeo Artificial Intelligence Research Institute was grandly held at the conference site. Shen Yinlong, Deputy Director of the Nanjing Economic and Technological Development Zone Management Committee, and Dr. Wang Xin, Global Partner at Frost & Sullivan and President of Greater China, jointly unveiled the institute, with nearly a hundred guests and representatives from local media in Nanjing witnessing this historic moment. Jiangsu Province ranks among the top in comprehensive economic competitiveness within China's region, and is one of the most economically active provinces. Its per capita GDP has consistently ranked first in the country since 2009. Together with Shanghai, Zhejiang, and Anhui, it forms one of the six world-class urban agglomerations along the Yangtze River Delta. In the first half of 2021, Jiangsu Province's GDP reached 5519.963 billion yuan, a nominal increase of 18.14% year-on-year, ranking second in the country.   Nanjing, the capital of Jiangsu Province and an important industrial city and economic center in the Yangtze River Delta region, is not only a hub city in the core area of the Shanghai-Nanjing-Hangzhou economy but also an important transportation hub in East China, with a significant geographical location that connects the east to the west and runs through the north and south. In the first half of 2021, Nanjing ranked second in the province with a total GDP of 762.277 billion yuan, accounting for 13.89% of the province's total GDP. The gross regional product of Nanjing Economic Development Zone exceeded the 1000 billion mark, ranking ninth among national economic development zones in terms of comprehensive strength and fourth in terms of business environment. It has developed into an important national-level economic development zone in the Yangtze River Delta region, becoming the main battlefield and strategic position for Nanjing's industrial development and technological innovation.   Frost & Sullivan has a long-standing relationship with Nanjing dating back four years ago. The completed Frost & Sullivan Nanjing Research Institute was a key project in Jiangning District, Nanjing in 2018, undertaking the significant responsibility of promoting the innovative development of high-tech industries, facilitating the steady growth of emerging enterprises, and enhancing the overall national economic level. Today, the institute has provided diversified integration solutions for nearly a hundred hot industries, radiating and driving the innovative development of hundreds of enterprises in the Yangtze River Delta region.   In recent years, in the economic landscape and innovation coordinates of Nanjing, Nanjing Economic Development Zone has actively seized the construction and development opportunities in the Zidong area. Relying on its own industrial foundation advantages, it has pooled the efforts of three districts to lead the creation of China (Nanjing) Smart Valley. The valley has gathered over 300 artificial intelligence-related enterprises, more than 50 industry-leading talents, with the core industries accounting for nearly half of the city's output value, driving the related industries to exceed 70 billion yuan in scale. China (Nanjing) Smart Valley has become the most industrially concentrated, scientifically innovative, largest in terms of park area, best equipped with comprehensive supporting facilities, and has the optimal business environment among artificial intelligence industry bases within Nanjing and even Jiangsu Province. Whether in terms of industrial scale, concentration, or degree of innovation and openness, it provides a unique growth environment for an institution focusing on AI industry research.   In the future, Frost & Sullivan LeadLeo Artificial Intelligence Research Institute will continue to innovate and forge ahead. It will form a synergistic energy among multiple research institutes in Nanjing, empowering outstanding enterprises across various industries and providing professional knowledge services. Against the backdrop of the national '14th Five-Year Plan', it will contribute to promoting the development and construction of science and technology innovation industries and facilitating the deep integration of artificial intelligence technology with the real economy!   About Frost & Sullivan Frost & Sullivan, a global growth consulting firm, integrates 60 years of consulting experience across the globe. Over the past 23 years, it has dedicated itself to serving the booming Chinese market with a global perspective, helping clients accelerate their business growth and achieve benchmark positions in growth, innovation, and leadership within their industries.   Frost & Sullivan specializes in global capital markets and corporate consulting services, providing comprehensive investment and financing as well as various other professional consulting services for enterprises. These include due diligence services, valuation services, assessment services, strategic consulting, management consulting, planning consulting, technical advisory, financial advisory, industry advisory, and more.   The investment and financing business of Frost & Sullivan Greater China has achieved full industry coverage of the Chinese national economy, including a high level of attention to all economic hotspots such as new economies and new infrastructure. It covers sectors such as biomedicine, consumer retail, internet and technology, entertainment media, financial services and fintech, education and training, machinery manufacturing, energy and power, infrastructure, automotive travel, logistics transportation, rail transit, ship shipping, aerospace, ecological protection and environmental management, agriculture, forestry, animal husbandry and fishery, industrial materials, construction engineering, metallurgy and mining, real estate property, etc.   Since the Frost & Sullivan team began providing investment and financing advisory services to corporate leaders and their management teams, it has helped nearly a thousand companies successfully list on the Hong Kong and overseas stock markets. It is a leading enterprise in the field of domestic investment strategy consulting. From 2014 to 2020, Frost & Sullivan maintained its leadership position as the industry's number one market research advisor for Chinese companies going public overseas; moreover, in recent years, Frost & Sullivan reports have been widely cited in the prospectuses, secondary market research reports, and other capital market disclosure documents of leading A-share listed companies in the industry.   For over 60 years, Frost & Sullivan has helped a large number of clients (including Fortune Global 1000 companies, top domestic and international financial institutions, and other leading enterprises) achieve strategic goals by conducting due diligence, valuation analysis, third-party evaluations, and other work through its nearly 50 offices around the world. 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From September 25th to September 27th, 2021, Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan') was invited to attend the '6th China Pharmaceutical Innovation and Investment Conference' (hereinafter referred to as 'Pharmaceutical Venture Capital Conference') hosted by the China Association for Pharmaceutical Innovation Promotion (hereinafter referred to as 'China Pharma Promotion Association'). The Pharmaceutical Venture Capital Conference is co-hosted by the China Pharma Promotion Association, Hong Kong Exchanges and Clearing Limited, Landi International Think Tank, and Ameda Pharmaceutical Consulting, with special support from the Shenzhen Stock Exchange and Shanghai Stock Exchange. It grandly opened on September 25th at Suzhou Industrial Park. The Pharmaceutical Venture Capital Conference has been successfully held for six sessions and has received high recognition and widespread praise from the pharmaceutical industry and investment community. Mr. Mao Hua, Partner and Managing Director of Frost & Sullivan Greater China, delivered a keynote report   Since 2019, Frost & Sullivan has participated in the Healthcare Venture Capital Conference for three consecutive years. At the sixth Healthcare Venture Capital Conference in 2021, Frost & Sullivan continued to collaborate with the conference organizers and well-known listed service providers to successfully host the 'Capital Market Innovation Services Forum' on September 26th. At the event, Mr. Mao Hua, Partner and Managing Director of Frost & Sullivan Greater China, delivered a keynote report on the outlook for the pharmaceutical industry in China in the post-pandemic era.   Mr. Mao Huaie started from Bispecific antibody industry, mRNA technology platform, small nucleic acid drug industry, cell and gene therapy industry, AI healthcare The pharmaceutical industry in China after the post-pandemic era is analyzed from five aspects.   Mr. Mao Hua pointed out in his report that globally and in China, there are ongoing Dual-specific antibody Clinical trials are concentrated in the field of oncology, but global clinical applications have gradually expanded to non-oncology areas, becoming more diversified. The therapeutic areas for bispecific antibody clinical trials in China will continue to expand. In addition, both global and Chinese bispecific antibody clinical trials are mainly in the early stages, with a higher proportion at the late clinical stage globally. As technology matures, more products from China will be approved for IND (Investigational New Drug) and enter the clinical phase, accelerating clinical progress.   at mRNA technology On one hand, Mr. Mao Hua pointed out that mRNA technology is widely applied and has significant advantages. The market demand for mRNA technology is vast, and its successful application in COVID-19 vaccines has attracted much attention, demonstrating its technological advantages and huge market potential in the future.   at small nucleic acid drug On one hand, Mr. Mao Hua stated that large pharmaceutical companies are actively deploying in the field of small nucleic acids through strategic cooperation. In 2016, with the launch of two ASO drugs, the global market for small nucleic acid drugs began to grow rapidly. In the future, as clinical application indications continue to expand and the potential patient population increases, the market size for small nucleic acid drugs will continue to expand.   Mr. Mao Hua said that with the increasing maturity of genetic engineering technology and regulatory systems, globally Cell and Gene Therapy The market has entered a golden age. The Chinese cell and gene therapy market is still in its early development stages, but a comprehensive regulatory system has been gradually established. Global CGT clinical trials are evolving towards diversified disease areas, currently covering genetic diseases, malignant tumors, infectious diseases, and chronic diseases. Domestic clinical trials in China focus more on tumor treatment, with significant room for future expansion of indications.   Finally, AI healthcare On one hand, Mr. Mao Hua stated that based on the development of technologies such as machine learning and natural language processing, AI has been applied in multiple scenarios including drug research and development, assisted diagnosis, and health management, and has a rich target market. China's AI health management, AI imaging, and AI drug research and development have successively seen investment peaks, with AI medical robots expected to become new investment hotspots.   After Mr. Mao Hua delivered his keynote report, experts from listed service institutions participating in the forum shared and exchanged the latest developments in the capital market with the attending guests. This included discussions on hot topics such as the SPAC (Special Purpose Acquisition Company) listing mechanism and the listing rules of the Beijing Stock Exchange. They analyzed some hot issues during the listing process of biotech and pharmaceutical companies and looked ahead to the future development trends of the pharmaceutical and healthcare industries.   On September 17th, the Hong Kong Stock Exchange published the 'Consultation Document on the Acquisition of Special Purpose Companies' (''The Consultation Document''), which sought market opinions on the implementation of the SPAC listing mechanism in Hong Kong, sparking heated discussions. Guests engaged in full communication and debate on this topic. Mr. Mao Hua participated in the roundtable discussion and expressed his views on the opportunities and challenges of the Hong Kong Stock Exchange's proposed introduction of the SPAC mechanism. The guests compared the SPAC model, which has a long history of development in the US market, with the recent SPAC models in the UK and Singapore that have been seeking market feedback on improving or introducing the SPAC system. They analyzed and discussed the main considerations for SPAC listing conditions mentioned in the Hong Kong Stock Exchange's 'Consultation Document', including pre-SPC merger and acquisition considerations, standards for target companies in SPAC mergers and acquisitions, etc., from aspects such as industry development impact and investment and financing opportunities. Mr. Mao Hua, Partner and Managing Director of Frost & Sullivan Greater China, participated in the roundtable discussion   Mr. Mao Hua delivered a speech during the roundtable discussion session   In addition, Ms. Li Qian, Senior Consulting Director of the Healthcare Business Unit at Frost & Sullivan Greater China, participated in the afternoon roundtable discussion session. On behalf of Frost & Sullivan, she provided a professional interpretation of the draft listing rules released by the Beijing Stock Exchange on September 5th. The guests compared the listing conditions with those of other capital markets in Mainland China and, based on their experience serving enterprises listed on other capital markets in Mainland China, especially the New Third Board and Science and Technology Innovation Board, interpreted the listing rules of the Beijing Stock Exchange. They also shared and exchanged views on potential financial, tax, legal, regulatory issues that innovative biotech companies may encounter during the listing process.   Ms. Li Qian, Senior Consulting Director of Healthcare Business Unit in Frost & Sullivan Greater China, participated in the roundtable discussion   Ms. Li Qian spoke during the roundtable discussion session   The conference received widespread attention from participants from biopharmaceutical companies. The series of excellent keynote reports and discussion sessions brought by the experts were highly praised and continuously pursued by the attendees. Frost & Sullivan will continue to leverage its professional expertise in the future, sharing interpretations of China's latest pharmaceutical industry policies and exploring global trends in innovation and development.

The production of digital content such as film and television production special effects and digital human exhibits for exhibitions is booming. With the demand for high-quality content growth and efficient production schedules, cloud migration has become a trend and direction in the future field of content production. On September 24th, at Huawei Connect 2021, Guo Ming, Executive Director of Frost & Sullivan's Greater China region, shared the research findings of Frost & Sullivan on digital content production.   Huawei Cloud joins hands with industry leaders to discuss digital content production technology On September 24th, at Huawei's All-Connected 2021 special speech on "Producing Digital Content on the Cloud and Creating a New High Ground for the Film and Television Industry," Huawei Cloud Media Services provided an in-depth interpretation of the newly released digital content production line solution, shared excellent practice cases, joined hands with industry leaders to discuss digital content production technology on the cloud, promoted the construction of the digital content production standard system, and advanced the innovative development of the film and television industry.   Guo Ming, Executive Director of Frost & Sullivan Greater China, shared the research findings on digital content production at the conference. He mentioned that digital content is developing towards intelligence, convenience, refinement, diversity, and popularization. Cloud-based digital content will become a key focus for future development, effectively promoting the commercial monetization of digital content. Cloud computing can solve problems related to the quality and efficiency of digital content production. Cloud collaboration platforms can provide one-stop digital asset management services for content producers, as well as searchable and previewing platforms for content users, enabling effective control over the production costs of finished products such as films and videos while realizing the continuous value of content.   Lu Zhenyu, Director of Huawei Cloud Video Cloud, interpreted the newly released digital content production line of Huawei Cloud. The digital content production line is based on Huawei Cloud infrastructure, using cloud rendering to solve computing power issues, cloud desktops to handle collaboration, and media AI to improve productivity and reduce repetitive labor. The digital content production line connects the entire process of digital content production, covering shooting, digital image management, material uploading and acceleration, full-cloud production, cloud distribution, etc. It can be used in multiple scenarios such as virtual shooting, film production, digital human creation, and lightweight live streaming, serving various industries and facilitating small and medium-sized enterprises to quickly and procedurally produce digital content.   The production and consumption of digital content clearly cannot do without a high-quality premium media network that connects producers, consumers, cloud-based digital content creation infrastructure, and platform systems. Gu Jiongjiong, Chief Architect of Huawei Cloud, interpreted the Application Delivery Network (ADN) service for cloud-native applications. ADN is a cloud-native SD-WAN network built on top of the Internet, physical private networks, and distributed infrastructures. Through edge containerized deployment, diverse protocol access, and multi-dimensional global intelligent routing algorithms, it creates a globally covered, elastic, agile, application-driven, and perceptual premium network for digital media content and internet applications. ADN provides full-path network acceleration capabilities to enhance the experience of internet applications and media content, and offers cloud tenants with ultimate agility and reliability in cloud access and interconnection services.   At the meeting, Cao Yiming, Director of Video Industry Development at Huawei, joined hands with Jiang Haiyang, a national first-class director, Xie Ning, Vice President of Baisi Media, Deputy Director of the High-tech Film Professional Committee of the Chinese Society of Film and Television Technology, Co-founder of the China Post-production Industry Alliance, Jiang Chuanrong, Chairman of Mingluo Film and Television Technology Co., Ltd., Guo Ming, Executive Director of Frost & Sullivan Greater China, Lu Zhenyu, Director of Huawei Cloud Video Cloud, and other guests. From the perspectives of business requirements for directors and creative artists, as well as technical requirements for industry practitioners such as content producers and ICT service providers, they engaged in an in-depth discussion on the future development trends of the film and content industries, as well as how to better cultivate digital content production technology and promote the prosperous development of the film industry.   Jiang Haoyang believes that technology will drive the continuous upgrading of the film and television industry, enabling it to rise from the ashes like a phoenix. Jiang Chuanrong stated that he hopes to use technological innovations in film and television production cloud migration to help everyone realize their movie dreams. He also hopes that more enthusiasts, R&D personnel, producers, and creators can jointly build public service platforms to contribute to the creation of Chinese cinema. Xie Ning pointed out that the entire film and television industry chain needs to move towards cloud computing, but cloud migration is just the first step. It is necessary to solve widespread issues such as cloud production efficiency, quality, and collaboration. Only when all industries within the chain work together can digital content production technology make faster progress and the film and television industry achieve greater development.   Based on Huawei's long-term accumulation in audio and video fields as well as artificial intelligence technology, Huawei Cloud provides a variety of cloud services and solutions for the entire media production, distribution, and application process, including digital content production lines, real-time audio and video, live streaming, on-demand, transcoding, cloud conferencing, cloud desktops, etc. These services are suitable for fields and industries such as publicity, radio and television, film and television, e-commerce, social entertainment, exhibitions, etc.

The results of the 'EY Fudan Most Promising Companies 2021' selection were announced in Shanghai on September 23, 2021. A total of 15 companies were awarded the 'Most Promising Company Award', and 10 companies received the 'Most Promising Seed Company Award'. Dr. Wang Xin, Global Partner and President of Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), attended the award ceremony as a member of the independent judging panel and presented awards to representatives of some of the winning companies. Dr. Wang Xin presented awards to the winning companies: Yonteng Group, Shihang Fresh Foods, Aqara, and EES.   The emerging enterprises shortlisted this time mainly cover seven major industries: advanced manufacturing, strategic emerging industries, future industries, modern service industries, emerging service industries, infrastructure, and digital economy. The 'EY Fudan Most Potential Enterprises' selection committee believes that China's economic and social development has entered its fourteenth five-year plan period. On a highly challenging path, many outstanding Chinese entrepreneurs have been pioneering innovation in industries such as information technology, biotechnology, high-end equipment manufacturing, and new materials, bringing new perspectives to the entire market. These emerging enterprises are also helping China accelerate its entry into the forefront of innovative countries, promote a fundamental transformation of development drivers, and enhance China's economic and social development level and international competitiveness.   This year, EY once again joined hands with the School of Management at Fudan University, one of China's top professional institutions. And we have especially invited Frost & Sullivan, a global growth consulting firm China Financial Information Center Serve as a cooperative support institution The selection event for 'EY Fudan's Most Promising Enterprises 2021' is being held, aiming to discover future industry leaders who are defying the current trends, subverting traditional technology fields, and further exploring market space in this era of opportunities and challenges. It also hopes that through this event, the capital market can gain a deeper understanding of China's outstanding emerging enterprises and assist them in achieving rapid growth.   The impact and challenges brought about by the pandemic have spurred significant changes in production and lifestyle, driving rapid growth in related industries. Among them, information technology equipment suppliers and public cloud service providers made rapid arrangements during the pandemic and reaped substantial benefits. At the same time, enterprises that have laid out in emerging technology fields such as blockchain, remote communication, and holographic imaging are also continuously exploring application scenarios for these technologies in emergency management during the pandemic. The tech-enabled pharmaceutical industry is embracing long-term innovation opportunities. The industry transformation in the post-pandemic era also has a profound impact on the development of industries outlined in the '14th Five-Year Plan.' With the implementation of the '14th Five-Year Plan,' there are also many opportunities in the eight national encouraged industries: advanced manufacturing, strategic emerging industries, future industries, modern services, emerging services, modern agriculture, infrastructure, and the digital economy.   This year, 7 of the award-winning enterprises came from strategic emerging industries, and 5 belong to the digital economy industry. Future industries represented by new-generation artificial intelligence, brain science, and biotechnology also receive considerable attention. During the "14th Five-Year Plan" period, under the guidance of national strategic layout, the new-generation information technology industry, biotechnology industry, high-end equipment manufacturing industry, new material industry, green and low-carbon industry, and digital creative industry will lead high-quality economic growth, boost sustainable economic and social development, and the digital economy industry will embrace broader development space. In the future, the government will increase investment in research and development in the digital economy field, while encouraging enterprises to increase investment in R&D, pay more attention to basic research, and support the industrial transformation of scientific and technological achievements. It will provide market support for the large-scale industrialization of digital technology through government procurement, new infrastructure construction, etc., accelerating technological iteration and maturity.   The participating enterprises for the 'EY Fudan Most Potential Enterprise' must be non-listed companies with excellent performance and growth potential. This year's judging panel continues to consist of partners from EY's member institutions in China, as well as senior experts and scholars from the School of Management at Fudan University. Dr. Wang Xin, who has served as a member of the independent judging panel for the Ernst & Young Entrepreneur of the Year several times, also serves as an industry advisor to this year's independent judging panel The comprehensive strength of potential enterprises is evaluated from aspects such as 'good future growth prospects and sustainable development', 'national and international development', and 'distinct competitive advantages'. This selection process, which has been ongoing for eleven years, has become an activity with wide social influence and profound economic significance due to its open and authoritative selection criteria.   Dr. Wang Xin attended the EY Fudan Most Promising Companies 2021 Awards Ceremony   Bis Cong, Partner-in-Chief of EY Greater China, said: "In the post-pandemic era, changes in the social environment and continuous technological progress have had a huge impact on the trend of industry development, bringing new opportunities and challenges to enterprises. A group of companies with disruptive creativity are actively responding to the national call for Industry 4.0 and 'Made in China 2025', vigorously promoting deep reforms in information digitization. We are delighted that this selection event has once again received widespread support from all sectors of society and enthusiastic responses from emerging enterprises. At the new starting point of the '14th Five-Year Plan', we believe that more companies will be able to seize the new opportunities emerging from change, jointly promoting the Chinese economy towards higher-quality development."   He Zhaofeng, Chairman of the EY Fudan Most Potential Enterprise Selection Project and Managing Partner for EY's Listed Companies in Greater China, said: 'Since the beginning of this year, emerging high-tech industries such as domestic information technology, artificial intelligence, high-end equipment, energy conservation and environmental protection, as well as biomedicine, have shown extraordinary potential, with growth rates far exceeding those of traditional industries. The grand blueprint of Digital China is taking shape. A new round of scientific and technological revolution is gradually deepening, giving rise to more new industries, new business forms, and new business models, which also provide continuous and strong new momentum for expanding employment. With the extensive and deep integration of digital technology and industrial economy, as well as the continuous improvement of the country's digital governance capabilities, we believe that the scale of China's digital economy will continue to maintain steady and rapid growth in the future.'   Group photo of Dr. Wang Xin, Mr. He Zhaofeng, some awarding guests and some winners   Group photo of Dr. Wang Xin, some awarding guests and some winners