Project Overview - The project is named "Overseas Marketing and R&D Center Project" and is implemented by MEDICILON USA CORP in Boston, USA with a total investment of 40 million RMB (approximately 5.6252 million USD) [2] - The project aims to enhance the company's brand influence, customer service efficiency, and business acquisition capabilities in the overseas biopharmaceutical market by leveraging its existing overseas R&D and sales teams [2] Necessity and Feasibility of Project Implementation Necessity - The project is essential to improve the company's project undertaking capabilities to meet the increasing demands of large clients, as the global CRO market penetration is expected to rise from 49.2% in 2023 to 58.2% by 2028 [3][4] - The project aligns with the global trend of CRO internationalization, helping the company to expand its overseas business and enhance its market position [4][5] - The expansion of overseas business will increase the demand for working capital, necessitating the project as a strategic support for global operations [5][6] - The project will optimize business development efficiency and effectiveness, facilitating face-to-face communication with overseas clients and improving project advancement [7] Feasibility - A favorable policy environment supports the project, with government initiatives promoting innovation in the pharmaceutical industry and enhancing the development of CRO enterprises [8][9] - The global pharmaceutical market is expected to grow steadily, providing ample business development space for the project, with global CRO market size projected to reach approximately 147.73 billion USD by 2030 [10][12] - The company has accumulated extensive business development and R&D service experience, establishing a solid foundation for project implementation [13] - The company possesses the necessary resources for successful project execution, including a well-established marketing team and a global client network [14][16]