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Nova (NVMI): Company Profile, Stock Price, News, Rankings

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AI, precision medicine, diagnostics, and digital health are transforming our understanding of human health. Yet despite unprecedented advances in prevention, treatment, and care, chronic disease is on the rise, healthcare costs continue to climb, and ageing populations are reshaping societies across Asia and beyond. As longer lives become the norm, the challenge is no longer simply to extend lifespan, but to improve healthspan—and doing so at scale. Can innovation help people live healthier, more productive lives? And what role will healthcare providers, insurers, pharmaceutical companies, and technology firms play in shaping the future of health and the longevity economy?


Dr. Kelvin Loh, Group Chief Healthcare Officer, AIA 
Dr. Feng Ren, Co-CEO, CSO, Head of Drug R&D, Insilico Medicine 
Dr. Keith Choy, President, APAC, Haleon 
Orianna Rosa Royle, Success Associate Editor, Fortune 

Healthy Futures

Conferences

This year’s energy crisis is a stark reminder that Asia remains reliant on Middle Eastern oil and exposed to the chokepoints and conflicts that affect its supply—even as China leads the world in clean-energy innovation and manufacturing. Can the region reduce its dependence on fossil fuels and reach peak oil demand as soon as 2030? Converting Asia’s technological edge into long-term energy security requires an alignment of capital, manufacturing capacity, infrastructure modernization and political will, alongside continued technological breakthroughs. Three leaders in the sector discuss the steps needed to accelerate the transition before the next shock inevitably occurs.

Haitian Pang, Chairman & CEO, JX Intelligence 
Youyuan Huang, Executive Vice Chairman and General Manager, BTR New Material Group 
Fang Wang, Executive Editor, Shanghai, Fortune China 

Accelerating the Energy Transition

OK, so this discussion will be conducted in English, in Chinese, so please refer to our headset to listen to our smart translation. Well, actually, so, actually, when we see that Asia, this is a huge market, even though we have very well developed new technology, but still Asia rely on the petroleum and energy from Middle East, which lead to some problem of the security. So now we invite the three distinguished guests to have the discussion. And 3, all of them coming from mainland China. I would like to share something of their background with you. So, They are, they, they are coming from the energy industry. So they also focus on the innovation of new material, etc. So today, I mean, one of the top topic is not the overcapacity, is the safety or how to have a better utilization of the recycled or new or green energy from China. So we would like to invite the three distinguished guests to share with us. So, first of all, I would like to start from Daniel. So Daniel, Daniel Liu, the vice president of Ginola. So please share something with us, something the background and also the situation of the energy, the energy transaction. So that happened in Asia. OK. Thank you. Well, in the past decade, I have run all over Asia Pacific region, over 20 countries and regions. And yeah, I saw a lot and also I interviewed a lot of people. And I, I'm glad to share with you that the transaction of energy in China is quite successful. It's something I sometimes I'd like to use the word radical. It's quite radical, but it's quite successful. We got some data. So for example, now, the power generation is over. 1.5 trillion uh 10 trillion, oh sorry, it's not 1. something, it's 10 trillion kilowatts. So it's quite huge. Such kinds of the big power generation amount is not just coming from the coming from the petroleum or coming from the coal or charcoal, etc. And a lot of them coming from the voltavoltaic. So it's coming from the solar energy. So as being a traditional coal user, charcoal user, petroleum user, China make a big step forward compared to India, you know, India got also the same population over 1.5 billion. So in the past, India also invest a lot in order to realize the energy transaction. But because of, I mean, technology or something. That the transition of the energy structure compared to China, India is left behind. Let's look at Southeast Asia. So for Southeast, for example, like the Philippines, Philippines, it owns over 7000 islands, similar to Indonesia, they also have a lot of demand. But how to combine the fossil energy together with the future, for example, the, the wind energy, right on the ocean, the wind energy got a big potential. This is something we need to consider as a big market for us. OK, thank you. Next, we'd like to invite, uh, Mr. Fang from battery. So. So, so, so, so that uh we know that you, you, you, you're focusing on the development of the battery technology. So I would like to ask your question that uh what is your idea about the development of the energy storage, energy storage, and what is your current development in China? And what the comparison between China and the other countries? In perspective of the technology development of the energy storage. OK, so the energy storage technology acquired a big growth in the past 3 years. According to the current data at the end of this year, that we expect to export over 1000 big units of the energy storage. There's over 1000 big scale, big scale energy storage units were exported from China to the rest of the world, to the other country. So that means that all, all, I mean all the industries or the government also that put a big attention to the energy storage technology. So because of what, a lot of things, number one, it could help to reduce the cost of energy, right? Yeah, #2, it could provide a stable power supply. For many countries, power generation is only #1, but #2, but power generation, you generate the power, but it's not stable, right? So the peak, you at the peak and get the value. So the peak supply and value supply, counterbalance them. So the energy storage. That unit could help to balance the two. China already established a complete industry chain. It's very reliable and of course it's quite competitive. It's affordable for many countries, for many players to import the facilities of their energy storage from from China, especially Southeast Asia. And China also a lot of the energy storage unit maker, they also shift their production line from mainland China to Southeast Asia. Indeed. Quite popular, yes. So go to Southeast Asia. Now this has become very popular because of the demand, you know that's the power supply is not very stable in Southeast Asia. So but if they want to build up a big power grid, the investment will be huge. So if they import the power energy storage unit from China, they can save the cost. And they also can control the power cost for household. Yeah, so for Gino, your company, your power generation, and also another one, OK, Dr. Huang, on behalf of the energy storage and Haikian is on behalf of the smart grid, smart energy application, right? So all of you doing something about the physical infrastructure or physical products. So it sounds like you're very, I mean, physical guy. I want to ask you physical guys that today, you know, the power grade, it's become more complicated and sometimes it's out of your way of prediction. So because you see that before we generate the power by burning the coal, charcoal, or burning the petroleum. Now, we have different sources of the power generation, right, from solar, from wind, from everything. So we please explain to us how could we have a better Uh, balancing technology or good application technology to the balance them. Make sure that people could utilize the power more in a more effectively. OK, yes, for human being, now, you know that we also, we, we, we, we live in a different region, right? So some of them live in, uh, like in Southeast Asia or or at the coastline of uh uh of the continent, and some live in the rural area or in the mountainous area. And also, for example, in the northwest part of China, so that the wind is strong in the in the desert or around the desert, right? So, if we supply the power from the south or north or east to the north northwest, it costs a lot of costs a lot by uh transporting. Transporting those power from the east to the west, from south to the north. Uh, and also the inspection. But before we ask the human being to do the inspection along the whole transportation line of the power, and it costs a lot, right? And the symptoms are quite dangerous. For example, in the extreme climate, in the rainstorm, in the snowstorm, if we ask the staff to go climb up. Come up to do the inspection to the power transformer or the transportation line, etc. wow, you know, that's quite dangerous. But now we, we have the AI, we have the robots to do it, right? We have the UAE to do it, the drone to do it. And then we also get the Power generation sources also become greener than before. We have the solar energy. We have the wind energy, etc. so that the whole industry becomes complicated. Therefore, we need to develop the power management system or the control center that is a smart center could allocate the resources, allocate the power resources. Amount the big to the power grid and then make sure that people when they use their solar panel to generate power, they can get the return from them at the same time, they will go to utilize the power conveniently. So yeah, that is really quite great. So what you have mentioned has come to a new topic, which is quite hot right now. We say it collaboration of computing power, electricity power. So that is something we always say in China. So on one hand, For one hand, we use the electricity power to guarantee the computing power. On the other hand, computing power will help the power generation to be smart generated. So for example, the computing power can help the electricity to do the peak shaving. So I'd like to ask you, Daniel. So, um, from 2026, the new computing center. Um, built in China show. At least consume 80% of green electricity. So the electricity should be green electricity. Is that a burden or is that the opportunity? So for for Jino Solar, are you start to sell the solution rather than just sell. Uh, component part is that burden or opportunity? Well, I think that is very inspiring and for us, we are doing that right now. So just like Mr. Wang said. Asia Pacific region. has been very unbalanced in terms of new energy. And AI will be a very good tool to address the imbalance issue. So we know that in China, we have data center. Um, in the eastern part of the country, but the computing power should be built in the western part of China. So for example, we build a center in the western part of China because the energy cost is much lower and the energy is more enriched. So in China, there's a line that draw from the southwest of China to the northeast of China. And in the east part, there are a lot of companies, so consuming power is very strong and they need a lot of computing power. But in the northwest part of China, which has less population, less industry, less demand. But more energy. So right now, for example, we have the ultra high voltage project. So we use the ultra high voltage project to transmit the power from the west of China to the east where the demand is. Yeah, and in the future with AI we can do the peak shaving. We can adjust the Uh, power Yeah, so the energy storage demand is also going up with the computing power center. So I would like to ask Dr. Huang, so you know that the energy storage accounts for over 40% in terms of the facilities relating to AI. So what kind of material do we need for energy storage? For your company because VTR is making new materials. How do you think about the new materials? Well, AIDC. Energy storage comes from two parts. The first one is UPS system to guarantee very stable supply of power generation. And this system has very strict requirements for the volt, for the volt, um, fluctuation. And then with AI technology, and every time when the power fluctuation happens, The AIDC needs the battery to do the instant response. Even within milliseconds to ensure the stable supply of power generation. Otherwise, if we lose the data. Yes, several days ago we saw a lot of LLM shut down because of the fluctuation of the voltage, right, from of the boat. Yes, especially during the 11 when a lot of people are using their technology to buy the products. So it will have very big challenge on the supply of the power. So this requires very Um, very high demand on the new material for the stability. So it has a high requirement on the material. OK, besides lithium, you're also working on R&D of some other materials like the sodium, etc. Will that be used in the AIDC? Yes, of course. Because, The sodium ion battery has very obvious advantages in the power and also for the thermal. Resistance or or a thermal tolerance, but it has disadvantages in terms of energy density. So for energy density, lithium battery is more ideal. But for the sodium ion technology, I believe that with the industry development, it will be, more ideal choice in the future. OK, so could you please tell us about the AIDC development perspective from China and some other area. So we know that in Malaysia or Thailand they all want to build. AIDC and China has most green electricity and most cheap electricity price. But how about the other countries? Yeah, that is different. Computing power collaborates with electricity? Maybe only happens in China because the demand. And the supply. Well, you know, in China, we can use a lot of green electricity for installation. We also invested in Indonesia, and we know that Indonesia is also built the DC, but based on traditional power generation, maybe thermal power or hydropower. But still, This electricity. are different from China because China is not just for satisfying the demand on using electricity, but also needs to reduce the cost and satisfying carbon reduction. Yeah, so in China, You satisfy the demand for using the electricity, but also needs to be cheap electricity and also needs to be clean and green electricity. So China satisfying three goals together. OK, so how about you, Hai Xian? A lot of people said that, um, Silicon Valley started to talk about China, Wullan Tabo. We know that Wullan Tabo is a place that built the first Energy integrated adjustment platform. So are you also making the deployment in Wulan Chabu in the Mongolia of China? So how does that realize the peak shaving? So why do you think that the Silicon Valley people are so fascinated about that? Well, Wulan Tabu is a very typical case about China for computing power collaborating with electricity generation. A lot of AIBC were built in Wulan Tabu, um, essentially have infrastructure. I think that the biggest cost is coming from the electricity power itself. So in Wulan Tabu, it enjoys great solar power and wind power. So here, You can use very low cost of wind power or solar power to support AIDC. But for AIDC, Well, it has its own problems. So for example, uh, for training, it can wait a little bit for for training, but for Interference and reasoning, AIBC needs to do that instantly, right? And maybe not at night, right? Because only in the daytime you have the solar power. And then for the wind power, you cannot predict the wind power. Uh, you need a smart brain to understand about the physics and the geography of this area. And to predict what kind of energy storage it needs to install to ensure the comprehensive electricity cost to be the lowest, yeah, stable, clean, low cost. And uh AI brain should be important because the upstream is uncontrollable and unpredictable and downstream means you should be more ideal and flexible. So you need a smart AI brain to satisfy the needs both upstream and downstream. AI can play a vital role. Well, so why do you always call physical AI brain? Physical AI is that different from AI? Well, we say physical AI. Physical AI means to understand the physical world and physical rule, including meteorology, including the weather, including the economics. OK, physical AI brain needs to understand the physical world. Yeah, it should simulate the world, understand the world rule. OK, Doctor Huang. China is a leader definitely. But there are still a lot of challenges China face. Would you please talk about some pinpoints in China challenges, particularly, for example, like excessive and excessive supply. So when you come to other countries, like Malaysia or Southeast Asia, do you think they can Bypass our challenges. So for example, some challenges only faced by China, but they don't have such challenges. Well, I think that they can learn the lessons China has has encountered. In other countries, maybe they could not make as big infrastructure as China. Yeah, China has very big infrastructure. Yeah, in other countries, maybe. They need to make the plan and layout based on their own development stage. For example, distributed energy system is more suitable in Southeast Asia, and they can use the low cost energy technology. For example, in Southeast Asia, and some least developed area, distributed energy system is more suitable. So we are also promoting that in Indonesia and Morocco. We work together with the local government to build the energy generation plant and to promote the green use of energy and to the local government we can help them to improve the energy usage. OK. When a Chinese factory open another site in Southeast Asia, you work together with the local government and make the distributed energy system. Will that benefit the community? Yeah, of course. Especially in some countries. The resources of green electricity is abundant. And we're also very happy to see that some country make the national program to promote green electricity. So Haitian, you mentioned about Saudi Arabian 2030 vision. Do you make some deployment in Saudi Arabia? Because Saudi Arabia is a traditional petroleum country, but they also have the energy transition goal. Can you talk about Saudi Arabia 2030 vision? Well, A clean energy transition or lower cost energy transition is continued. This trend is continued. And from our side, First of all, China is leading in the technology. And we guarantee that stable supply and lower cost of supply for electricity. And In Saudi Arabia, even the country is traditionally thrived based on the petroleum, but it also has the ambition because In the desert, in the desert, they enjoy greater solar power. They enjoy greater sunlight. And also in Saudi Arabia. They are quite innovative as well. They think that even we have enough fossil energy, but for the future and sustainability, we need to make preparations. So They build AIDC as well. I think Saudi Arabia is quite an amazing country and I know those people have great mindset towards green electricity. And we also see that in some Southeast Asian countries in some Middle East countries. They are interested in our physical AI products. They would like to talk to China. They would like to accept the Chinese technology. I think that in the future, um, these green transition will be globalized. OK, we know that Jinco so far is still just uh suffering from one thing is that the overcapacity of the this industry. So still that the solar power, I mean the solar power, uh, this industry is still in the in the valley, OK, so we don't know what it can go out of this valley. Would you please analyze something about the whole the Asian market. So how the other countries in Southeast Asia sector would avoid this problem like China, right? The photovoltaic, photovoltaic power overcapacity of the production. Yeah, OK, so in order to avoid the overcapacity of the production like in China, I think this question, it must be, I mean, be aware. So number one. So #2 is that this is about the energy transaction, right? So that's, for example, that if there is abundance, there is abundance uh solar energy resources in one place, for example, like in Ningxia. So the government should have a better plan, the plan in advance and then to core the participation from the enterprises step by step. Otherwise, that if everybody joined into that channel and they step in China. Then it will cause a problem overcapacity again. So that even you go to some other like countries and regions, they would not work like China. So for example, like in Pakistan, over 60% of 60% of the agriculture irrigation were moved or driven by the PV by the solar power. Solar power to the agricultural irrigation in Pakistan over 60%. Yes, it's true. You know, Pakistan used to be, I mean, lack of the water, right, water resources, and then the irrigation costs were high, but now they import the solar energy technology from China and then to help them to support the agricultural irrigation. So they they reduced the cost a lot and another successful case study also happened in South Asia, the Philippines. And also that's, I mean, the cost reduced a lot. So I think in the period of the energy transition, so that we we have some focus on the safety, and also we have the market potential and also we have some idea how to avoid the overcapacity. Thank you for all your sharing, it's very wonderful. We know that this is a correct route, is a correct right road for us to do the energy transition in Asia. Even though China is a leader, but the other Asian countries and regions, they use, they work on their own way towards the future and we believed in the year 2030, definitely we'll reach the goal of low carbon. Thank you for your wonderful sharing.

Mary Barra has spent more than four decades at General Motors, rising from an 18-year-old co-op student training on the factory floor to CEO. In her 12-year tenure, she’s steered the company through a near-catastrophic safety crisis and helped turn the century-old automaker into an innovation powerhouse that currently ranks No. 23 on the Fortune 500.

In this episode, Fortune’s Editor-in-Chief Alyson Shontell speaks with Mary about the Barra family roots in GM, as well as the company’s strategy to address shifting EV policy, growing Chinese competition, and the widening trade skills gap.

Why GM's CEO Mary Barra is Still Bullish on Electric Vehicles

Leadership

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The Guangdong–Hong Kong–Macao Greater Bay Area is the world’s largest continuous urban area—a megalopolis of 11 cities, 86 million people, and a $2 trillion economic engine. Its ambition is not simply scale, but integration: linking finance, advanced manufacturing, technology, research, logistics, and talent across jurisdictions and systems to strengthen China’s global economic competitiveness. The question for the next decade is whether greater connectivity can translate into more innovation, investment, and global reach—and how businesses and investors can navigate the practical frictions that remain. Can the GBA’s 11 cities operate not simply as neighbours, but as a genuinely connected innovation economy? And what would that mean for its global competitors and partners?

Edward Au, Southern Region Managing Partner, Deloitte China 
Mr Alex Che Weng Keong, President of the Board of Directors, Commerce and Investment Prom
Derek Zhang, Executive Editor, Fortune China 

The GBA Decade: Opportunity, Innovation, and Global Impact

Thanks Lee. So this session will be Chinese, uh, Xie xie, Alex Xie Xie Xi. OK, thank you very much, Alex. So today we would like to talk about the policy making and from the external researchers' perspective, how do we read the Greater Bay Area. So for Greater Bay Area, the population is around 80 million something, uh, equals to the population of Germany and the total GDP reaches $2 trillion USD equals Italy. We compared to other Bay Area like in New York, or the Tokyo Bay Area, or the California Bay Area or San Francisco Bay Area. We need to ask us how we make our GBA a place a more innovative. So how could we make Um, use of our resources. And make it, put it into a big use and also to realize innovative. Industry, innovative area. So Alex, as a policymaker, how do you view GBA? So first of all, GDA here? Yeah. It's different from other Bay Area. I was, So there are 3 different currencies. Three different currencies. And this can be quite challenging, but a great opportunity. Let me give you an example. So because of the historical reason? Macau has great close relationship with the Portuguese speaking country. So in terms of promote trading with these countries and regions, Macau can play a vital role. And to promote The production resources circulation. So that is why Chinese government decided to set up a cooperation zone between Zhuhai and Macau. And Macau used to be an independent tariff area. How could we contribute more to the GBA area for innovation in the next 10 years? It needs a lot of production resources. So Hanxin, GBA and Macau collaboration zone play a very vital role role for the flow of capital to the flow of talent and flow of production elements. So this is very important and that matches with the national strategy. As a person working in Macau, I should say that Guangdong province, Macau and Hong Kong are different. The difference can play a vital advantage. So this vital advantage could be played if we work together as a team. So we believe that this, this power is amazing in the GBA. While in among, among the totally nice cities in GBA that Macau can play an important role. We will collaborate with all the other brother and sister cities. OK, sorry, it's not nice, 11 cities in GBA. Yes, we have the labor division, and we could work together to create the new booming engine for the economic growth. Yes, so let's have an example. For example, last year, we have a war intellectual intellectual property organization. I got a report that. The report is telling people that about 76,000, 76,000 enterprises with all the levels, the state level, provincial level, city level, innovation enterprises, and they are located in totally 11 cities in GPA, 76,000 innovative and tech companies. So we need the innovation, we need the collaboration as well. Then if we could work like that, then we will work like a big team, and it will be a world-class, a world-class innovation hub. So for the GPA coming 10 years, The key thing is not we separate, is not we build the city alone. No, we like to work together as a team to build up a new operation system, a new OS. Shenzhen, Guangzhou, Hong Kong, Macau. We could have a clear labor division. And then we can work as the engine for the whole GPA. Then we have, we could develop some standard criteria and for Zhongguan and Zhongsan, etc. They could work like a medium, like a medium hub, medium laboratory that's focusing on the engineering, etc. And also, Macau, for example, Hong Qingzhong between Macau and Shanghai, it could be a very big region for the TCM, traditional Chinese medicines R&D center, and also the data technology. Especially to develop for the Portuguese market. So by this way, that every city in this GPA region has its own role and everybody is a strong member of this big team. And the United laboratory. This can work as a huge platform to integrate the resources from 76,000 tech companies. The United laboratory could work as the united platform for inspection and testing commissioned. Such kinds of the big layout will be amazing in the world. While talking about China, Macau, huh, we also developed like uh the third 5-year plan to adapt to the 5-year plan in the mainland China. So, Macau, we have our own 5-year plan. When we have a goal. The goal is that in the coming 30 years, we got to improve the proportion of non-gambling business up to 60% within the GP or the GDP of the city. So as Alice just now mentioned that we need the support from the government in terms of policy planning, and also we need the industry's engagement, and also we need the participants of our citizens. So this is a localized layout, a localized business plan. So Macau, now we already formulated a big framework. So the next job is how to implement this policy. In the past that we focused more, I mean 90% of the resources allocated to the gambling industry. But in the next 35-year plans periods that Macau gov, not only the government but also the industry and the citizens will shift our eyes to the non-gambling business. And for example, for the emerging industry, Macau government invests 130 billion bucks. To invest the emerging industry including the the innovative TCM. The science technology, the data technology, etc. Macau, we have an independent, uh, legislative body. It's independent one, responsible for the development of our policy, laws and laws, and regulations. And it also, Macau also we have the independent regulatory. Unity. So that's different to the mainland China and Macau we have the independent legislative system, uh, regulatory system, and a large amount of investment bodies. So this is a little bit different to the mainland China's systems. So investors also we have a strong confidence in Macau because of our operation system, because of our confidence of a decision decisiveness. So for example, Macau now investing a lot of money to build up the industry park, university, R&D center, institution, etc. So this year, more than 20 billion bucks, these kinds of the funds already introduced to build up the new laboratory. And this could be comparable to Hong Kong and Singapore. What we hope is that through this opportunity that we want to invite people come to Macau to to get more understanding to this city, to know that what we have, to know what the advantage we have. And what kinds of the room that we could develop in perspective of the new emerging industries. So whatever in the macro or in the micro level, that Macau is making the efforts to develop the new economics. So, By one time for 2 years, we do the investigation of market and, and we collect the data, do the analysis, and we find out that which industry have a good growth. And in 2025, life size ranked number one last year, and semiconductor ranked number 2. And the cleaning technology, for example, ranked number 3. So that in this industries, a lot of the investors, they earn a lot. The ROI is quite satisfactory. So before that uh people don't know, I mean the shareholders of the entertainment company or uh a casino company, they don't know where to invest. They earn money and then reinvest into the gambling industry. But now we have more space to grow. For example, the bio biochemistry, bioscience, semiconductor, science, technology, new energy, car making, etc. So all this industry and what when they develop in mainland China, and also they come to Hong Kong to do IPO and then, They, they come to Macau to do the IPO. And all this, you know, that through the IPO in, in Hong Kong, in Macau and Singapore, etc. we got the funds to support R&D and then they could have a strong funds to support them when they go global. And it's become a globalized enterprise group. So this is very good cycle, a very good ecosystem, right? Yeah, as mentioned by Alice that, Uh, we have a complete and good framework of the legislation, and we have the interconnection to mainland China in terms of their finance and fintech, etc. So that Macau, we have a good platform for the innovation and creativity. GBA, this is a huge market containing 11 cities. So that we would like to call the interest of the partners in worldwide. So take Macau as the gateway to step into the GBA and the mainland China. So for the capital investors, this is a very good window to understand the New development space in GBA and the whole China. While Macau in order to bring more opportunities to the investors, also we already completed the stock systems connection. And the bond connection, etc. So that's to make sure the circulation channel are open to the investors. So for AI technology, etc. many finance enterprises or high-tech enterprises, when they come to Macau, they will feel comfortable. Because that's Macau, we have to complete the legislative framework to guarantee the safety, the security of their business data. So whatever they're doing the flash science, biochemistry or etc. that they should, they should release their worry because that Macau government want to protect their benefits, protect their interests. And we know that Hong Kong, there is a bound area, a bound area. The bound area is in between Hong Kong and Shenzhen. It's a new high-tech zone. That new hi-tech zone is especially designed for the two cities to put their energy there to develop the high-tech. So this is called a pond that's along with the two sides of the Shenzhen River. So this is an innovative one, an innovative zone for the technical experiments. So, in Shenzhen Industry Park, we do the innovation and also that we also go to the bound zone because the bound zone, the negative negative place, this is circulated. To have the clear illustration for what would be OK for the enterprises to engage. So this kind of behavior is very important for the GPA. Not only the government but also the enterprises to develop. So not only the bond in between Shenzhen and Hong Kong, but also the Hengqin zone in between Macau and Zhuhai. So we could play our unique advantage to call the attention. From the global tech company or science company come here to do the R&D and then to put the production facilities in mainland China to enjoy the low cost of the labor, low cost of the office facilities, etc. then the enterprise, newly established enterprises could have a better growth. So also only in Hong Kong and Macau, etc. Also a lot of the uh data center being established. And also some of them professionally run the data for the overseas partners. And this also offered the opportunity for Macau. Because this is a good one, right? So, also the central government and Macau regional government. Already have the common understanding that Macau needs to diversify as business, not just rely on the gambling or the casino only, but also versatilize, versatilize the business to make it worse, make it diversify, right? So as we also talked today, that we also could use Macau as a good platform to do the R&D, then the product development, especially for the Patuki market because Macau have a strong and long term ties with the Patuki market. So in In April or May, the time that the chief executive of Macau led a big delegation containing 120 enterprises traveled to Portugal, and then we signed over 106 cooperation agreements and with the total amount over $300 million 300 million dollars US dollars. And at the time we we we will visit the president and also the premier, as well as the head of the Legislative council and the Supreme Court. What does it mean? It means that Macau and Portugal still would like to further to strengthen our cooperation. So these kinds of cooperation is very significant for Macau to acquire a new generation growth in economics. So the cooperation in science and technology together with not only Portugal but the other countries would help Macau to develop the non-casino business. So in the future that we're going to witness the happening of the new business growth in Macau, not just the casino, but also more business. And Macau's legislative system also similar to Portugal's to Portugal and the other European countries and regions. There's another advantage. OK, so looking into the future, next 10 years, so if we can reach the imaginative connection of the deeply integrated Greater Bay Area. So to the global partners, when they talk about Macau, what do you want them to talk about Macau? What keywords do you want them to put on Macau? Well, for GBA I think that innovation, but whether we can be an international Bay Area. We need more international impact. So we sail around the world. Yes, but whether we can have the international influential power, especially for Macau, for Macau, today we are in a great facility. The hospitality of Macau is top in the world. We are the world tourism city. But if that is not a world tourism city, but a world commercial city. Is Macau still a top commercial city? When you think about make exhibition, make conference, do you think Macau is the first choice? Yes, here we have a lot of events and we would like to thank Fortune for selecting Macau as a place for leaders forum. But will more people think Macau as the first choice for convention and exhibition. I think that Macau still needs more employment to the next generation. Yeah, yeah, I think that to attract more talent, you need to provide them with decent job. So that is important. So if that is 2030, when we look back, do you think you are successful, Advan? Wow. So 2030 or 2035, when I look back. Well, I think that if a young entrepreneur will say, I'm from Macau, I'm rather from Shenzhen, so that means Macau is successful. And also Macau should be different, right? Right now people think Shenzhen is innovative, but Macau also needs to be innovative, and this city should be replicable compared to others. We should have something unique. OK, as a policymaker, I think you also have something to say. Yeah, we work together with the motherland. So 10 years later in 2036 or 2035, so firstly, I hope that when you come to Macau, not just for exhibition or conference, you have business to do here and we can include Henching area into Macau. Not just think about Macau, but also Henching and Macau. So Henqing corporate. Uh, cooperative zone should have more opportunities. OK, McKenzie has a prediction, have a forecast said by 2030, the economic output should reach around the 3.6 to $4 trillion. To the economic scale of Germany. Right now, the population equals Germany, but GDP if we can equal to the GDP of Germany, that will be a very ambitious goal because Germany is the biggest economy in Europe. So if Macau would like to be a technology innovation center, that would be an ambitious goal. And we need to become a real economy with innovation, with the scale, with uniqueness. OK, thank you. Thank you.

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