Group 1 - The 2025 Sustainable Global Leaders Conference will be held from October 16 to 18 in Shanghai at the Expo Park [1] - Liu Erhai, founder and managing partner of Joy Capital, emphasized the importance of the commercialization of technology, stating that without revenue, a company has no value [3] - The investment logic has significantly changed, moving away from a user acquisition focus to a combination of technology and commercialization capabilities [3] Group 2 - Liu advised entrepreneurs to spend more time between customers and products, highlighting the increased importance of technology and product capabilities in the current era [3]