Zhong Guo Xin Wen Wang·2025-07-21 13:43Group 1 - The core viewpoint of the articles highlights the growing trend of companies listed on the Sci-Tech Innovation Board (STAR Market) in China expanding their operations internationally, leveraging their proprietary technologies and high-value products to compete in global markets [1][2]. - In 2024, the total overseas revenue of STAR Market companies is projected to reach 430.36 billion RMB, marking a year-on-year increase of 6.1%, with 173 companies experiencing over 30% growth in overseas revenue [1]. - The characteristics of STAR Market companies' international expansion include diverse models such as independent overseas operations and licensing collaborations, as well as a focus on developing First-in-Class and Best-in-Class drugs [1][2]. Group 2 - Unlike early "going global" enterprises that relied on cost advantages, STAR Market companies are competing in high-end markets with high technology, high research and development, and high added value [2]. - Companies like YK Cloud have transitioned from providing cloud services to exporting AI capabilities, with their AI computing platform supporting flexible scheduling of domestic and international chips [2]. - The export of high-value products and the synergy between technology and capital are key support points for the development of STAR Market companies [2]. Group 3 - For STAR Market companies to achieve stable and long-term international expansion, a robust support system is essential, including improved cross-border financing mechanisms and enhanced regulatory cooperation with overseas capital markets [3]. - Companies need to enhance their international operational capabilities, conduct thorough research on overseas markets, and develop suitable overseas strategies [3]. - Emphasis should be placed on cultivating international management teams and technical talent to improve operational management levels abroad [3].