Guangzhou Pharmaceutical Holdings

The companies on the Global 500 employ 70.2 million people, and their revenue represents more than one-third of the world’s GDP.

Fortune Global 500

The corporations on our annual list of the world's 500 largest companies combined to generate $41.7 trillion in revenue over the past year.

The corporations on our annual list posted aggregate revenues of $41 trillion for the second year in a row.

The corporations on our annual list of the world’s largest companies delivered a record $41 trillion in aggregate revenues.

Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

Total revenue for the world’s biggest companies fell 4.8% to $31.7 trillion this year—the first decline in half a decade.

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Guangzhou Pharmaceutical Holdings Company Profile, Stock Price, News, Rankings

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Guangzhou Pharmaceutical Holdings | Fortune

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Here's Why Chinese Healthcare Is Booming

Leadership

Government support allows Chinese companies to develop drugs and medical devices cheaper that in the U.S.

we have a couple of big investors here. So So I would love to talk with you and then also Marietta, about how you see this sort of investment landscape. Do you also Do you agree that this is the innovation capital of the world for health care? Well, you know, the main whip in investing in health care in China for the last 11 years, and prior to that, I co founded three health care companies in China. And I think the landscape has changed significantly over the last 10 years. 10 years ago, when I went to the largest medical equipment conference in China, I would say that 99% of the exhibitors were showing patient monitoring systems and ultrasound system. And every year since then, we've had new technology coming out through these conferences in exhibitions. And now we have, you know, from pharmaceutical. You know, we have the one of the first crisper clinical trial started, and then off course, on the device side as well, you know, we're getting we're looking at, you know, trance catheter, heart valves, cockle implants. And then, of course, you know, diagnostic as well. We are, you know, head ahead with us on the DNA sequencing technology and roll out, including an I, P. T and liquid biopsy. And, uh, and then, of course, you know, health care. I t and move out Health. We have some really big companies in this sector, so, you know, and of course you know the new drug discovery as well. It's been come a very, very hot sector in the last three years. I think you know, this is becoming a very, very exciting, you know, time. And especially since China is the second largest market in the world now for pharmaceutical with seeing so many multinationals and biotech firm starting to they've already set up on D centers in the last 10 years in China. But there's all these scientists homegrown and, um, you know, from the U. S. And as we're coming back to start companies, so it's very exciting. So Marietta, you went from actually co founding health care company, you know, drug discovery company to now investing in it as well, you know, I mean I mean explain for what makes this area so special. Why is it so fertile for investment? Yes, Trump fun actually is a relatively newly set up front to focus on that when the senses in particular in our therapeutics and related areas like enabling technologies and one up the driving force behind this, because we see a wave off entrepreneurship and innovative companies coming out in China and the environment that's changing their rapidly given and also the government is putting in place a lot of positive policies and to enable this change and shift.

So I'm thrilled to be able to just introduce briefly our two guests here. Mr. Li Chuyuan is the chairman of Gwangju Pharmaceuticals. Is one of the most dynamic, successful and profitable companies here in Qualcomm. And Leader Hung who's from Singapore who is a specialist in civil engineering and urban planning. And he's on leave this year to work with a company that specializes in AI, facial recognition and is doing all kinds of interesting things associated with urban planning. And smart cities that is called PC tech. PCI PCI tech. Okay, sorry. And so our topic is the greater Bay Area and innovation and integration in the greater Bay Area. The most of the people in this audience will be familiar With this term, the greater Bay Area. I think sometimes for our friends from the San Francisco Bay Area, they get a little bit offended by that term. They said what are we the lesser Bay Area? [ LAUGH ] But, the sheer numbers and the scale of what's being contemplated here. In Guangdong, would suggest that in fact, San Francisco is very much in danger of becoming the lesser bay area, because what's been planned is for a region that will include nine cities, to special administrative regions, Hong Kong and Macau, takes in 70 million people, That's the population of the UK and Canada combined. Even though the the actual square footage of this area is only 1 % of Greater China, the GDP output is about 12 % and includes many of the richest cities In China, so it's an astonishing undertaking to try to integrate all these areas and yet, within it, there are still a lot of differences. There are different dialects. There are different transportation systems in Hong Kong, they drive on a different side of the road than they do here. Lots of different legacy institutions to, to integrate. So want to talk a little bit about how to how to stitch all those things together. Sherman Lee, I wonder if we could begin with you. Because obviously as a leading company in Guam, Joe and Guangdong, you're at the forefront of integrating The region and I know you've made some very interesting investments in Macau. And I wonder if you could talk a little bit about growing Joe's role in the greater Bay Area, and specifically, your investment in Macau. [ BLANK_AUDIO ] Thank you. I'm very thrilled that to our Guangzhou Pharmaceutical Holdings is the presenting partner. Actually it's a kind of a pre destiny between us and Fortune. Because it's the third consecutive or Fortune Global tech forum held in Guangzhou. Is also my third time attending the event. Just now Klay mentioned about greater Bay Area in the worldwide that are for. [ UNKNOWN ] Bay Area. One is in San Francisco featured in the science technology, second one is New York Bay. It's more on the business operation. The third one is Tokyo Bay Area featuring industry and also city clusters. For all going to Hong Kong Macau greater bay its a finance scientific technology class industry, so all you want. So for greater bay areas has its unique teachers for our greater bay are. It's very promising and has a bright future because the larger size scale as you mentioned the bigger population, very diversified industry resources Gundam, Macau, Hong Kong, a lot of policy advantages and the strength In Guangzhou [ BLANK_AUDIO ] among the greater bay area is fair to say, it's the central peace, central city, the advantage for Guangzhou [ BLANK_AUDIO ] is special, unique industries and the very sharp culture features It's tier one city from the industry point of view in Guangzhou In the first three quarters the total GDP reached 1. 7 899 trillion RMBUN enjoy the 6. 9 percentage increase. Among the greater Bay Area is one of the rapids develop cities for the four tier one cities It's the number one with regard to increase much higher than the Shenzen, Shanghai and Beijing. For our Guangzhou pharmaceutical holdings we can showcase this trend where the largest pharmaceutical company in China is largest TCM. Producer worldwide from January to September, our revenue exceeded more than 100 billion sorry. And by the end of this year we would exceed 130 billion RMB. Among all the major tier one cities We have a lot of comments, some people would say Shanghai feature. [ BLANK_AUDIO ] Beijing is the whole world. Shanghai is just the second then the heavens sky. But what's the nickname for. Gwangju, Gwangju is the most livable city. It's very livable and good for startups more than 2000 years ago, the sudden, Gwangju Emperor even 2000 years ago. He died after age of 103 years old and he was in the emperor position for 63 years, 103 years old number one [ UNKNOWN ]. 67 in the position as the emperor 67 years and he passed out he's the emperor to the grandson because he's he outlived his son so Guon Joe is a longevity city And the greater bay area is a longevity area and we should give credits to the house and wholesome habitats lifestyles as well as the pharmaceutical industries in the region In Guangzhou, we have several special features. The first is called the red culture, TCM culture, and innovation culture, creativity culture, So very strong features, is very suitable for living and the for starting up your business, talking about Guangdong, Hong Kong and Macau, greater Bay Area. Recently, [ UNKNOWN ] pharmaceutical holdings Is planning to relocate our headquarter in Macau as Klay invited me to talk a little bit more of the Macau. We wanted to establish international headquarters in Macau. We want to. Promote the diversification of the industries in Macau. It was a call and instruction from President Xi Jinping. It's also our future's development priority for the Guangzhou Pharmaceutical Holdings. The initial investment was 1. 5 billion RMB. Yeah, this is the initial stage we use this a special place as Macau, because one country two systems that as a lot of favorable policies, and the institutions, we would use [ FOREIGN ] as the industry base And also make full use of Macau's in Portuguese culture and use BRI belt and road initiative to further make the Guangzhou pharmaceutical holdings going global. [ FOREIGN ] And make more contributions to the greater Bay Area. We all know that [ UNKNOWN ] [ FOREIGN ] Among the greater bay area were featured also in R & D innovations. Globally, we even have our advantages and very promising potentials this morning. Our mayor, when mentioned also said. [ BLANK_AUDIO ] We have a national level scientific and RND base. We unveiled this as a team base. This is the only base. In this greater bay area is a very few Such a basis even worldwide, which means we have the new technological resources, for the pharmaceutical industries. During the tea break, we just released the two standards. One is international standard for [ UNKNOWN ] brand. This is an international standard The other is the gods of pharmaceutical holdings, spore oil in front of you. You can see we have the sport, all you products and other diversify the products very popular and Being welcomed. You go to each every corner of the world. Wherever there's a Chinese you can find one lousy brand because it's a double happiness and the lucky needs something like that. Thank you very much. We certainly can Find the greater at bay area to be a quite an integrated market for one lucky I think. Professor Lee let me ask you about the infrastructure piece of this because this is your specialty, I mean you've had considerable experience in designing and working with urban planning, and Singapore, one of the world's great cities. But Singapore is a, in many ways a much more. I mean, it's culturally and ethnically diverse but it's a single city and it doesn't have all these different systems and standards and legacies to integrate. So how would you compare the challenge of creating a greater barrier area to the challenge of building Singapore Thank you very much. Yeah, I've been my insert to the large extent already existed in your questions. Okay. Yeah. Because as we know, Singapore is a city is a state is an island, right? So it's a country of course, but Singapore in terms of the its geography is more unique is more unified. But in the greater bay area that we are talking about, obviously, we have Vendome as the province and we have Macau, we have Hong Kong. So just now you mentioned about the different systems. Yeah. And the different jurisdictions. Yeah. And the different practice, right? So the moment we are trying to provide just now in Chairman [ UNKNOWN ] his comments, all his remarks. I can pointed two very important things, one is a livable city. Another thing is a sustainable city. So you are not only here to work, you are also here to have your life. And this life is just another for short while is not just for yourself, but also for your family. This is how we define the sustainability in Singapore actually. So I think so back to your questions, how am I going to compare Singapore and Greater Bay Area in terms of the overall, the city configurations? Obviously, the challenge that we have been facing in Singapore is definitely different than the challenging, therefore the opportunity that the Greater Bay area Is able to enable. So yes, we have the different challenges, but I personally would even more prefer to take those challenges as the nutrition right, as the ingredients to further sustain and the prosper greater bay area to make it Into a really international place for the global economy. Mm- hm. And for the different enterprise. And I think just now I mentioned about liveable city and sustainability. And things are nowadays in China people may not have too much doubt about how to make it as the economically viable place. But the moment we talk about the [ UNKNOWN ] city. Or even talking about the sustainability, then people starting to have the question marks flying everywhere. Yeah. Okay. So I think by looking at the city that we are all currently in, which is cultural I in the past 20 years, I have spent all my time in Singapore and before that I was in Chicago, I was in Los Angeles, I was in Taipei. But if you really want me to compare the Guangzhou as the major leading city in this global area with other international city. I would say that I personally do not feel much difference. I think to the very large extent we should this to The fairly open economy and and the policy incentive. So, I think over here we do have a very good basis to turn this traditionally as an old city, an ancient city. Into a future city. So I guess my question about that is, I mean, I'm up here all the time. It's fantastic. I love coming up here. But I have to admit, it's still kind of a hassle getting back and forth between Hong Kong one fella from China and one Joe. Especially when you cross over into Hong Kong and Macau, first of all the roaming charges are murderous. [ LAUGH ] But the infrastructure which is impressive, from an urban planning standpoint still has a lot to be desired, right? You can get on the high speed rail link It's 45 minutes to get to to get to go on job but you end up in southern South Station rather than get where you want to be. Yeah. So then you've got to get a taxi and it it sort of defeats the purpose and the the Jew hi Macau Hong Kong bridge is amazing 55 kilometers. It's the longest sea crossing using bridging and tunneled technology in the world and it's a civil engineering miracle and yet, it still is not performing it anywhere near the traffic levels that it's been designed for. So What I hear is that there's a lot of individual greatness in these individual cities. And yet there still is a kind of a stickiness kind of detachment to them. It can't just be overcome by roads and bridges. Yes. Yeah, I agree. Yeah. Thank you for the questions. I think in the greater Bay areas in terms of the infrastructure infrastructure need to do a lot more. If we want to make this greater pay area which is something that we all want, okay? To make it into more coherent, enable the coherence. To enable the homogenous, right under the heterogenous, we need to go back to the basics which is the infrastructure. So infrastructure, many people they do not enable or do not combine it together too much with the technology. But with the technology, we can change our infrastructure. What kind of infrastructure that we're talking about in the greater Bay Area, just not as you mentioned, if we still need to spend that much hassles to travel from [ UNKNOWN ] To Hong Kong to Macau And the moment we reach to the train station and we have to face another challenge, which is either by the taxi or by the bus by the metro, by the other transportation means, then that would defeat the whole purpose. So the question is how to enable this coherence In the greater Bay Area by the infrastructures. The answer could be in the transportation that will be using everyday. In Hong Kong people use MTR. People in Guangzhou, in Shenzhen We use Metro, we use MRT, Mess Rapid Transit, but many people they may feel that are you talking about to us too? Am I going to ride the metro from Guangzhou to Macau to Hong Kong? Not at this moment, but it will be in the future. Shellfish means in the greater Bay Area, we want to enable this one our life circle. So you can quickly travel between the parts in this greater bay area instead of using the high speed rail. High speed rail as everyone knows yeah we all receive the benefit, we all enjoy the speedy travel but that train station is not going to be everywhere. In Guangzhou you have to go to the south stations, right? But you may have the metro station just around the corner. Yeah. So how to enable this the speed is different. So the things that we are doing in Guangzhou is to have the ordinary speed, the normal speed, we combine the with the express service. So that we can have these two different kinds of service on the same tracks. So on one hand we can rely on the benefit of the spreading MIT station at the different part of the city therefore in the greater Bay Area, so that people can travel very quickly. Yeah So in the future, very soon in the future, people can travel with the metro from Guangzhou to Zhuhai and further down to Macao. So, I think in the future it will get extended into Hong Kong, as well. Chairman Lee, one of the things that will make this work obviously is the mobility of talent and I want to ask you a little bit about You know as you build up your international headquarters in Macau you know what challenges do you face in education and can you circulate your personnel easily in between Macau and Guamdro and the other way around we've got admit it if you could give us a snapshot. [ FOREIGN ] Okay. This greater Bay Area, as I mentioned, has a huge potential for further development. Because there are many benefits. Everybody shared the same habit. They like soup, they like it's always hard to speak the theme song for breakfast, they also be contacted. This is a very good foundation in terms of the talent, this greater bay area is a very inclusive, very open, and have local talent [ UNKNOWN ]. But also world class talents, are all gather here. But for [ UNKNOWN ] city We have a may dance constant concentration of talent people, a lot of universities health care will have all the advantages human talent advantage which is very obvious especially in TCM, this greater bay area has. To master of traditional medicine all in Guangdong know each other today, why is Professor Joe another is another professor. They are the only two masters of TCM, this is our advantage. So why we want to internationalize our group. The international headquarters will be placed in the cow We think Barack Obama is like a British head internally and domestically and externally for us to easy for us to communicate in terms of the talented people is easy for us. So the talent people in Guangzhou and those in Macao can be combined in a integral way. President Xi of China said he has a positioning about my car. So we attach great importance to my car for city of [ UNKNOWN ]. So we are good at what alabi needs. So our master of this air goes to Macao to offer services. He will be more than happy to do that. He goes to lectures in Macau very often. So this can also help solve the talent issue are very grateful that fortune. The global tech forum in a possible year. Come to be convenient, wonderful starting in 2017 will be permanently located in Guam Joe. This is a great impetus to the talent people exchanges in Guam Joe. The flow of people people are learning charter also upgrade gone through technological, scientific, internationalized level great help to us. So we believe going forward since we've been getting better and better. In those efforts and and watch keenly to see and await your, your success, I want to thank both of these, Experts for helping us to understand a little bit more about the greater Bay Area's integration. Thank you very much gentlemen. [ APPLAUSE ] [ BLANK_AUDIO ]

Innovation And Integration In The Greater Bay Area

Tech

Learn about actual business plans, prospects and progress from a local business leader, a global bank executive and an infrastructure expert.

I mentioned this idea of the genomic revolution which we've been talking about for a while. But we're now in, actually, a revolution of revolutions. There's so much happening. It's not just that we've got Faster and cheaper, radically faster and cheaper genes sequencing technology. The next generation of that. But in addition, we have a whole new set of gene editing tools that are radically changing Science. The ability to actually intervene in our own DNA We have an additional to that, the revolution in AI and [ UNKNOWN ] which we have been hearing about. Which is giving us brand new molecular genetic targets of extraordinary complexity that we never even dreamed of percuing before. We have a revolution immune oncology. Which is helping us to understand how to harness the immune system to fight things like cancer, and we've already talked about the revolutions in 5G and mobility and sensors and everything else in robotics. So my question for you, Simone, to start with, is, is this time different? Are we really in a place. Where this confluence of revolutions is different than it ever has been before. And if so, how on earth do you start to invest in that? I think the revolution is definitely here. It's a revolution of, it's a combination of revolution of biology and Deep machine learning, AI. So for example, if we want to go for cancer early detection, it's almost a dream but is a combination of understanding the genomic features and also the ability Too deep sequencing by using AI tours. Yeah, just a follow up though when there's so many new technologies, how do you make the bets that harness all of them together or do you focus on very specific kinds of tech Cuz your investments are really unique as I look at them. In my experience, I think that formula only applies to venture capital investment or ventyre investors who intend to invest company at very early stage. So, to be susccessful actually the principle Is not to invest, not to diversify. Actually, it's a concentrating to concentrating areas where you can understand the technology or you have the ability to assemble resources that can help you capture the most advanced technology. Yeah. So the key is not to Not to dench the decentralize is to focus. That's the truth, that's intresting. Liching I wana mention this other revolution which I didn't mention, include that, which is the consumer revolution. And so much of the growth in your business making you extraordinary Gene sequencing devices there has been a movement towards things like 23andme and ancestry. com and coloring garden and several others but recently over the summer there was some softness in that market and that affected your stock And you know, it's still sort of hasn't quite recovered. The question is, is that a temporary setback? Are we gonna still see the consumer market dominate in the next 10 year ?. So I see most of the audience a Chinese, can I just speaking Chinese ?. Yes, please. [ FOREIGN ]. [ BLANK_AUDIO ] For the Illumina technology in US they have mass gene company like 23 ME as you mentioned and a host of companies are using gene technologies during their start ups They use a genomics, genomics analysis because US is composed of different races. So race analysis is a key topic. But after all the population being analyzed by the races for the mass genomic companies they are declining in their business. So all these companies are trying very hard to explore. The new areas for example, genes, impacts to the human health to their lifestyles. [ FOREIGN ] And also to the nutrition aspects. Some gene companies were even dedicated to the education of the infants. And also babies and children. So they were doing explorations as soon as they identify the new areas. Definitely they're going to be promising futures in those areas in China, situations that are slightly different Large majority of gene companies are still in its infancy appeared at like 23 magic box and other companies that they have a very good application situations. So a lot of continued investment and still enjoy rapid development. Going into this in a big way. I mean, you've got the UK for example. Which is sequencing 450, 000 people. You've got in the US you've got the all of us. Program at the NIH, which is 2 million, and then you just signed a deal with in China. To do something similar >> Indeed. Last year, we successfully. One bead, it was tendering process, it's in the [ UNKNOWN ] Hospital University and it was a joint project by the Minister of Health, and the most, the Minister of Science and Technology. The Selected the our company to conduct the population cohort stud. This is very conducive and beneficial to accumulate the big gene data for china and. With this data bases is very conducive to study the treatment that knowledge is very. I'm very happy that the [ UNKNOWN ] university and also most and ministry of houses selected our technology, we are going to learn statistics from the UK and the US. As well as those cutting edge technologies in the information technology field in our cohort study. One of the things that ching mentioned is that drug companies are using this genetic profiling to understand how drugs work. There's a another revolution happening right here in china there are 15, 000 drugs in the drug development pipeline here. And obviously, GPC is China's largest producer and distributor of drugs, including traditional Chinese medicines. What are you doing to make sure that there are new technologies that are finding new biological targets for those kinds of drugs? And could you talk a little bit about the effort to create international standards for some of these Chinese traditional medicines. [ BLANK_AUDIO ] Just now, Mr. Lee mentioned a lot about the logical technologies, breakthroughs in the prevention, diagnosis, even the treatment of the diseases issue, even the culture, tissue culture applications. We know a lot of about logical technologies since 1970s. After four decades involvement, remarkable progresses and milestones being made. A lot of new products provided to the humankind to improve the well being of the humans in China [ BLANK_AUDIO ] In the full commercialization industrialization of a gen technology. But is a gradual process. Our group as the largest leading pharmaceutical company in China. We ranked number one four consecutive eight years in recent years. We focus on the biological drugs RND work, especially the whole value chain. In particular, the supporting services in the whole value chain and including the Dagny gnosis by using biological. Technologies and also the biological treatment. We had a lot of strengths and advantages. But in rolling out those technologies we have one gene drug to cure the 10 %. the incidence Hepatitis disease in China, hepatitis B, but the review and approval process in China because there's an inadequate guideline in China available. So our work Progress the very slowly but in this process, the cutting edge technology like from Illumina and the other companies, this would definitely promote the rules and regulation drafting by the city. In China reveal center of the drugs. And so we look forward to that. Just get into this idea of AI and using artificial intelligence, in all of these intersections that we're talking about, and, particularly in the case of cancer and last year on this stage, you said That the cancer cell is the perfect AI cell. I love that, you said, it grows faster, it evolves faster, it thinks faster. It evades faster. It evades detection faster. Essentially, it is a super intelligent cell. And you're also using the same kind of technologies to outwit that AI cell So I think to combat cancer, right? The most relevant factor actually is to be able to detect cancer earlier, once tumor forms it For one CM tumor has about 1 billion cells and it has all the ASL features. So it is much difficult to defeat cancer once it's there. So the best revolutionary breakthrough in cancer treatment actually. Is to detect cancer faster earlier. And given that alumina has done its job by giving us all sorta sequencing. Sequencing tours, different size, throughput, etc. So that part of the leg of the revolutions already in terms of early cancer detection. The rest is up to the industry to come up with the sample preparation tours in order for this whole game to happen. So Croton really talked about a number of companies when we talk about sequencing counsel related sequencing a lot of names come to pop up. For example, 23andMe, Brio, Foundation Medicine, God and Health. So I like to take this opportunity to clarify a bit. 23andMe is for fun, a lot of fun. Because it gives you the, a, gives you the genetic feature As to who you are, what your family tree is and it tells you the medically, what kind of health risk you might be exposed to. But it is not intent for any diagnosis, it is not to be able to detect cancer, definitely not. For $ 99, it wont even give you a deep, give you a whole Genome sequencing. Picture unless Illuminati achieves another revolution driving down the cost, you know, by by five by ten votes, for example. But Ching is already in fact we were talking earlier and if you go from the cost of sequencing an entire genome 20 years ago. From 3 million to thousand dollars. We're pretty close to that now, in terms of liquid biopsies. So this is what you were referring to the ability to detect telltale fragments of DNA, tiny little fragments of DNA and use that to as biomarkers of a disease and progression. You've spun of a company Ilumina called Grel to do just that. And there have been a number of these liquid biopsy companies. How good are they in terms of identifying. Disease progression. To choose? Yeah, I mean because someone says you know, we've got to get earlier in the interview earlier that disease. I think that grill is a you know, I'm very, we're very glad that Illumina help produced a company called the Grill, and Grill 23 and me is for fun. [ UNKNOWN ] is a dream, a beautiful dream intends to detect cancer at very early stage to substantially increase survival rate. What it does is get a tube of blood from you and then try to capture the DNA and RNA released from tumor cell into the blood. So it is relevant from science point of view. But the difficult is that the difficulty or the challenges that it won't be able to tell you or reflect the genomic feature from the tumors from which they originated. So I might be able to tell you You may have cancer but I don't know what kind of cancer it is and how it comes, how it manage to come to you. But without [ UNKNOWN ], we don't even [ UNKNOWN ] to dream, so [ UNKNOWN ] is a beautiful dream but I think there is hope, the Hope is another company called [ UNKNOWN ] Yeah. Strife is backed by very solid. The mission of life is the same as Braille. But the difference is, I think is that allow me to say that was no I'm not being disrespectful to grow I think Griff established a torch which is really important, but thrive is backed by very solid science. The John Hopkins team through decades of research in 2018 has put out a beautiful paper in science. It says, it is able to localize the mutated cancer basically it nails down From hundreds, hundreds, thousands of Anoma numbers will mutations, it is able to narrow down 61 cancer related hotspots mutations. Yeah. Where's that 61? somewhere? So I want to come back and change just a second, but I want to see if anyone has a question out there. And if you do, we've got some mic Wranglers and we'll have a paddle up there. anybody have a question? Okay, well if you do just a second I'll come right back to you. Ching we talked about this idea of using AI though to be able to make a little bit more sense to. To ask those impossible question if you will about what chain integrations are most likely to cause disease later on, whether it's a misinterpretation or a delusion of a specific nuclear tide or whatever it is, we know that in some cases some mutations are more important than others. Can you talk a little bit about how alumina is filling that gap? Yeah. So, it is like this alumina. The way we fill the gap is different. We also have sold a lot of R & D of different decisions and diagnostics methods. However, we pay more attention. We rely more on opening our technological platform to engage many companies on our platform to study to research, diagnostic of diseases, the nutrition models and mechanism. For example, in China right now in tumor Way a burning rock in the, when work was done. So microbiology, [ INAUDIBLE ] partner with [ UNKNOWN ]. A minor project. Illumina will open our platform, not we ourselves using a I- tool to explore the technologies that exist. Rather, we open up our system. All the IVD diagnosis interested companies can work on our platform to do their R & D. So the development results, indeed, is changing every day. Basically globally in China every day we have paper coming out. To see the diagnostic of many diseases is marching making progress. So in this aspect, we are very unique company relying on ecosystem to get the solutions for human diseases, diagnostics. [ INAUDIBLE ] machines and tools are used in 90 % of the worlds sequencing. So, it's kind of an amazing figure have you managed to capture the entire market there. Let's see if we have a question from the audience, anybody? Yes [ INAUDIBLE ] Yeah, we got one right there [ UNKNOWN ] I identified you but you must well identify yourself again Martin Raves from the BCG Henderson Institute. I want you to ask. These technologies have profound functionality because one of the problems with pharmaceutical researchers stagnant productivity, valuable drugs per dollar or unit of effort. Have we reached the point yet where these technologies are impacting on that stagnating RD productivity? Anybody, will you take that or madam Lue. Yeah, if I may. Yes I think sequencig There has a clinical application either to test cancer patients or go for early detection. But sequencing is also very relevant in basic research. For example, a company called the Foundation Medicine. It has a box of 500 genes. It really is very relevant in enabling research To once we identify a new mechanism, but how to make it a clinical relevant to what to link to what gene mutation to what disease, I think gene genome technology has come to a point where it is. It is very enabling to basic research or clinical research. Yeah. We want one more question. We got time for one more question. Anybody? Like son? Yeah, anybody? I thought I saw another hand. Somebody shy out there doesn't wanna ask a question. All right. So, Madam, I've got a question for you on again, getting into the idea With so much histories of science in the Chinese drug development world, and yet there isn't that much, there aren't that many Chinese made drugs that are actually being sold overseas and markets overseas. How are you beginning to change that? And we saw one approval and FDA approval for a new Alzheimer's drug just the other day. But this is it needs to be a paradigm shift for China to enter the world of innovative pharma. Thank you very much for your question. [ UNKNOWN ] So as Mars, this disease is an important disease which is become more and more in a society, everybody is challenged by this Alzheimer's. So Traditional Chinese Medicine has 5000 years of history. Is very employed a very important role for the environment progress of Chinese society so traditional medicine, so it has its uniqueness in treating these diseases. So my company has been dedicated to our RND the of this kind of our traditional medicines. So, right now one of the drugs we did we have completed all the clinical work for early stage or mid stage Alzheimer's be. It has very the advocacy is very good but internationally, we do not have a appraisal evaluation standard. Or criteria so to speak. So this product has been placed in the drug appraisal center of China. Actually our product this product is even better more efficient than the just approved by the government [ UNKNOWN ] Alzheimer is better However, we still want to make more effort to promote democratization the market launch of this program, so we can have a very good advocacy. So this traditional mindset can serve a bigger segment of the population. It is our belief traditional Chinese medicine, incurring preventing human disease will play a even bigger role. Thank you very much. We're gonna have to leave it there. Than you Madame Yu, Lee Ching, and Simone Song, appreciate that. Thank you. That was a great conversation. [ APPLAUSE ] [ BLANK_AUDIO ]

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