Investment Rating - Initiate at BUY with a target price of HK$7.25, representing an upside of 24.8% from the current price of HK$5.81 [1]. Core Insights - The report highlights QuantumPharm as a leading company leveraging quantum physics, AI, and robotics to accelerate drug and material discovery, with a focus on integrated technology platforms [4][9]. - The company has established significant collaborations, including a strategic partnership with Pfizer, to enhance its drug R&D capabilities [42][72]. - The report identifies substantial market opportunities in AI-powered R&D service industries, with projected growth rates across various sectors [7][24]. Summary by Sections Investment Thesis - QuantumPharm is positioned to capitalize on the growing demand for AI-powered R&D services, with a well-established integrated technology platform [3]. - The company has entered into approximately 159 agreements for drug discovery solutions, with a notable increase in collaboration programs from 18 in 2021 to 81 in 2023 [5]. Market Opportunities - The global drug R&D outsourcing service market is expected to grow at a CAGR of 14.9%, from US$12.3 billion in 2023 to US$32.5 billion in 2030 [7]. - The solid-state R&D service market is projected to increase at a CAGR of 27.7%, from US$3.8 billion in 2023 to US$20.9 billion in 2030 [7]. - The automated R&D lab market is anticipated to grow at a CAGR of 39.6%, from US$5.9 billion in 2023 to US$60.7 billion in 2030 [7]. - The material science R&D market is expected to expand at a CAGR of 12.8%, from US$76.3 billion in 2023 to US$177.9 billion in 2030 [7]. Business Model - QuantumPharm's business model integrates AI and robotic automation to enhance drug and material discovery processes, focusing on solid-state R&D and automated chemical synthesis [13][14]. - The company has developed a proprietary integrated technology platform that combines cloud supercomputing, quantum physics-based computation, and AI to optimize R&D efficiency [35][36]. Collaborations and Partnerships - The strategic collaboration with Pfizer aims to develop hybrid physics and AI-powered technologies to accelerate drug R&D [43][72]. - QuantumPharm has also partnered with CK Life Sciences to create an AI-powered tumor vaccine R&D platform [23][44]. Financial Analysis - The company's R&D expenditure has increased significantly, from RMB214.4 million in 2021 to RMB480.3 million in 2023, reflecting its commitment to growth [75]. - The customer base has expanded from 75 in 2021 to 187 in 2023, indicating strong demand for its services [77].

Brand Finance ® V éxico 50 2024 2 L Análisis de las marcas mexicanas más valiosas, fuertes y con mayor valor de percepción de sostenibilidad Junio 2024 Índice de Contenidos | --- | |------------------------------------------------------------| | Sobre Brand Finance | | Prólogo | | David Haigh, Presidente y CEO, Brand Finance | | Prólogo | | Laurence Newell, Managing Director, Brand Finance Americas | | Resumen Ejecutivo | | Análisis del Valor de Marca | | | Índice Global de Poder Blando Metodología Nuestros ...

Investment Rating - The report does not explicitly provide an investment rating for the battery minerals industry Core Insights - Battery minerals are projected to peak in demand within a decade due to advancements in efficiency, innovation, and circularity, potentially allowing for a transition to a circular economy by 2050 [6][7] - Six solutions are identified to mitigate the need for mineral mining, including new battery chemistries, energy density improvements, recycling, extending battery lifetimes, vehicle efficiency enhancements, and improved mobility efficiency [6][23] - The report emphasizes that the transition from a linear extraction model to a circular loop will yield significant benefits for climate, security, health, and wealth [6][8] Summary by Sections 1. The Battery Mineral Challenge - The battery demand has been growing at an annual rate of 33% for the past three decades, with total battery sales expected to reach 5.5–8 TWh by 2030 and 12 TWh by 2050 [19][21] - The report highlights that batteries will drive 97% of the increase in lithium demand, 78% for nickel, and 80% for cobalt [16][17] 2. Continuing the Current Trend - Continuing current trends will lead to peak virgin battery mineral demand in the mid-2030s, with net demand for lithium, nickel, and cobalt expected to peak at different times: lithium in 2038, nickel in 2034, and cobalt in 2028 [7][49] - The report indicates that the demand for lithium in 2030 could be reduced by about 25%, nickel by 40%, and cobalt by 75% compared to a scenario without solutions [49] 3. Accelerating the Trend - An accelerated trend could lead to net-zero battery mineral demand by 2050, with significant reductions in peak demand for lithium and nickel [55][71] - The report suggests that with the implementation of all six solutions, the peak lithium demand could be reduced by 46% and nickel demand by 31% [71] 4. Implications of Meeting the Battery Mineral Challenge - Successfully addressing the battery mineral challenge will transform mining into a one-time effort, with an estimated need to mine approximately 125 million tons of minerals to achieve circular self-sufficiency [78] - The total value of these minerals is estimated at around $1,080 billion at current prices, averaging about $50 billion per year through the mid-2040s [79]

Regulatory Framework Overview - The FIFA regulatory framework focuses on strengthening protections for female players and coaches, particularly regarding maternity, adoption, and family leave [1][3][4] - Amendments to the FIFA Regulations on the Status and Transfer of Players (RSTP) were approved to provide minimum conditions for pregnancy and maternity protections [4] - The framework extends maternity protections to female coaches and supports family connections during international duty [5] Leave Entitlements - Female players and coaches are entitled to maternity leave of 14 weeks, with at least 8 weeks post-birth [7] - Adoption leave varies: 8 weeks for children under 2, 4 weeks for children aged 2-4, and 2 weeks for children over 4 [8] - Non-biological mothers are entitled to 8 weeks of paid absence, to be taken within 6 months of the child's birth [8] - Family leave cannot be taken concurrently with adoption leave for the same child [8] Contractual Stability and Fair Treatment - Contracts remain valid regardless of pregnancy, maternity leave, or adoption leave [7] - Termination of a contract due to pregnancy or related leave is presumed unjust, leading to compensation, sporting sanctions, and potential fines [8] - Players and coaches are entitled to two-thirds of their contracted salary during leave [7] Special Protections and Rights - Players can choose to continue playing or training during pregnancy, with club support [11] - Clubs must offer alternative work if a player feels unsafe to play or train [11] - Medical leave is available for health-related reasons, supported by a valid medical certificate [11] - Players and coaches can decide when to start and return from leave, with full salary upon return [12] Breastfeeding and Menstrual Health - Players and coaches are allowed to breastfeed or express milk as required, with clubs providing suitable facilities [14][15] - Menstrual health-related absences are approved with full pay guaranteed [19] Registration and Replacement Rules - Clubs can register a female player outside the registration period to replace a player on maternity, adoption, or family leave [17] - Players returning from leave can also be registered outside standard registration periods [18] National Implementation - The RSTP sets minimum standards that must be followed at the national level [20] - Member associations can implement stronger protections through their own regulations or collective bargaining agreements (CBAs) [20] - If national laws provide better protections than the FIFA framework, those laws take precedence [20] Support for National Team Players - Member associations are encouraged to provide family-friendly environments during final competitions, including accommodations, breastfeeding facilities, and childcare services [19]

2024 State of the VITA Technology Industry CRITICAL EMBEDDED SYSTEMS TM July 2024 www.VITA.com Disclaimer: The views expressed here are solely those of the author in his private capacity and do not in any way represent the views of VITA. State of the VITA Technology Industry July 2024 by: Ray Alderman, Chairman of the Board, VITA This report provides the reader with updates on the state of the VITA Technology industry in particular and of the board and system industry in general, from the perspective of Ray ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The 2017 Hays Asia Salary Guide indicates that Asia is taking a leading role in driving globalization, with significant economic impacts from redeveloped trade relationships [4] - Employers are expected to adapt quickly to emerging economic conditions, focusing on attracting quality hires and retaining top talent [5] - Skill shortages are a major concern, with 96% of employers reporting difficulties in recruiting skilled labor [8] - The salary forecast for 2017 remains similar to the previous year, with most employers planning modest salary increases [10] Market Overview & Trends - 61% of employers expect overall business activity to increase in 2017, despite economic concerns at the country level [8] - 51% of employers anticipate their local economy to remain static, while 33% expect it to weaken [8] - Gender diversity in management roles has improved slightly, with women holding an average of 31% of such positions [9] - 42% of employers plan to increase permanent staffing, while 47% intend to maintain current headcount [9] Salary Policy - The majority of employers increased salaries by only 3% to 6% during their last review, with 38% planning similar increases in the next review [10] - China leads in salary increases, with 56% of employers planning raises of more than 6%, while Japan has a high percentage of employers planning minimal increases [10] Recruitment Trends - The report highlights a reliance on temporary staffing, with 21% of employers expecting to increase temporary staffing [9] - 85% of employers provide additional benefits beyond salary, with health and medical benefits being the most common [12] - 34% of candidates are actively looking for new jobs, with many willing to relocate for better opportunities [12] Candidate Trends - Candidates are increasingly prioritizing salary increases, with 61% looking for higher pay compared to 48% the previous year [13] - 65% of candidates did not request a salary increase last year, indicating a potential disconnect between employer and employee expectations [13] - The lack of career progression is a significant motivator for job hunting, with 47% of candidates citing it as a key reason for seeking new opportunities [12] Sector-Specific Insights - In the Accountancy & Finance sector, there is a growing demand for CFOs with IPO experience in China, as many companies seek to raise capital [60] - The construction industry in China is expected to grow due to government infrastructure projects, creating ongoing recruitment needs [147] - The life sciences sector is seeing increased hiring activity, particularly for medical affairs professionals and product managers [267] Salary Information - The report provides detailed salary ranges for various roles across different countries, indicating significant variations based on location and industry [58][71][76][248]

Economic Activity - Economic activity maintained a slight to modest pace of growth across most Federal Reserve Districts, with seven Districts reporting increases and five noting flat or declining activity[25] - Consumer spending showed little change, with reports of price-sensitive consumers purchasing fewer items and retailers discounting products[16] - Residential real estate activity increased due to improved supply, while commercial real estate remained flat amid concerns about office leasing[28] Labor Markets - Employment rose slightly overall, with most Districts reporting flat or modest growth, although some sectors, particularly manufacturing, experienced declines[26] - Wage growth continued at a moderate pace, but several Districts noted a slowdown in wage increases due to increased worker availability and reduced competition[26] - Labor turnover decreased, leading to less demand for new hires, with firms becoming more selective in hiring practices[26] Prices and Inflation - Prices increased at a modest pace, with input costs stabilizing in most Districts, although some areas reported notable increases in specific commodities like copper[16] - Selling prices continued to rise modestly, but consumers pushed back against high prices by purchasing less or opting for lower-priced alternatives[42] - Overall, inflation pressures remained moderate, with some sectors experiencing price competition as consumers sought lower prices[100] Consumer Behavior - Retailers reported slight decreases in real sales, with many consumers becoming more price-conscious and opting for discounts[34] - Auto sales varied across Districts, with some declines attributed to a cyberattack on dealerships and high interest rates affecting affordability[35] - Tourism activity remained steady, with pockets of growth in certain areas, although price sensitivity among tourists dampened sales in hospitality[37] Outlook - Expectations for economic growth over the next six months are cautious, influenced by uncertainties related to the upcoming election, domestic policy, and inflation[25] - Contacts across various sectors expressed concerns about future demand, particularly in manufacturing and commercial real estate, with some anticipating declines[28]

Investment Rating - The report indicates a cautious investment outlook for the UK commercial real estate market, with a focus on potential recovery in H2 2024 as monetary policy shifts [14][15][17]. Core Insights - The UK commercial real estate investment totaled £9.6 billion in Q1 2024, reflecting a -2% decrease from Q4 2023 and a -14% contraction compared to Q1 2023 [15][22]. - The Living Sectors emerged as the most invested sector in Q1 2024, with £2.0 billion, followed by Retail and Industrial sectors, each also at £2.0 billion [15][22]. - Cross-border investment into the UK showed signs of moderation, with £3.6 billion invested, down -27% from Q1 2023, although US investors increased their investment by +3% QoQ and 37% YoY to £2.9 billion [15][22]. Economic Update - The UK economy is projected to grow by 0.5% in 2024, with inflation expected to stabilize around 1.9% in 2024 and 1.8% in Q1 2025 [9][10]. - Global economic resilience is noted, with GDP growth expected to be around +3.2% in 2024, despite geopolitical tensions and inflationary pressures [6][9]. Capital Markets - The UK remains the second most invested market globally in Q1 2024, with London being the top location for cross-border capital [15][14]. - Investment volumes in the City & Southbank were the lowest since Q1 2002, totaling £0.3 billion, with prime yields stable at 5.25% [22][24]. - The Industrial sector is forecasted to record the highest capital and rental value growth in 2024 [17]. Office Market - Active demand for office space in the City & Southbank rose to 5.5 million sq ft, an 8.8% increase from the previous quarter [28]. - Prime rents in the City & Southbank remained stable, with significant rental growth in the City Core and Midtown at annual rates of 16.7% and 14.3% respectively [29][22]. - The West End experienced a 55.9% drop in take-up to 0.6 million sq ft, the lowest in almost three years, but with a strong near-term demand supported by 0.95 million sq ft of deals under offer [36][37]. Sector Performance - Hotels, Senior Housing & Care, and Living Sectors recorded increases in investment YoY in Q1 2024, with Hotels up by +221% and Senior Housing & Care by +137% [15][22]. - The report highlights a broad-based sectoral breakdown in take-up, with financial services leading at 25.6% of total lettings in Q1 [36][28].

LOGIC: North East �� Knight �� Frank Q1 2024 Occupier and investment market trends in the logistics and industrial sector. knightfrank.com/research LOGIC:NORTH EAST Occupier Market Prime rents remain resilient, despite moderation in take up and upward trend in supply MODERATE FIRST QUARTER FOR TAKE UP Take up of industrial units over 50,000 sq ft in theNorth East region totalled 178,000 sq ft in the first quarter of 2024. One freehold and one leasehold deal completed; 4 Opus Park, Preston Farm in Stockton-o ...

Jakarta Retail Market Overview 2H 2023 The bi-yearly Jakarta retail market overview analyzes latest development trends, provides insights and tracks market dynamics of all retail shopping centers located in Jakarta. knightfrank.co.id/research Retail Market Update The retail market experienced its continuous recovery driven by increased consumer activities and shopping back in full swing. Pressures on purchasing power may continue to intensify due to rising food and fuel prices. Fig 1: Jakarta Retail Market ...