Core Viewpoint - The article emphasizes the importance of intellectual property (IP) as a core measure of regional innovation capability and a key support for cultivating new productive forces in Wuhan, which has been approved to build a national intellectual property protection highland in January 2024 [1]. Group 1: Intellectual Property Protection Initiatives - Wuhan's Intellectual Property Protection Center provides "one-on-one" precise services to support national laboratories and strategic technological forces, facilitating rapid examination and confirmation of invention patents [2]. - By October 2025, the center has processed 118 pre-examination cases, granting 94 patents, with 247 patents in cutting-edge fields entering a fast-track examination "green channel," significantly reducing the time from application to authorization [2]. - The center has established a regular contact mechanism with national and provincial laboratories, forming a specialized team of legal, practical, and data analysis experts to provide comprehensive services from application to rights protection [2]. Group 2: Batch Pre-examination and Efficiency - In February 2024, Wuhan's Intellectual Property Protection Center was approved as a national pilot unit for batch pre-examination of invention patent applications, completing 311 cases with an average pre-examination period of about 2 days, achieving a 70% reduction in overall examination time by October 2025 [3][4]. - The pilot focuses on key projects and major enterprises, including Huazhong University of Science and Technology and Changfei Fiber, covering critical technologies such as semiconductors and humanoid robots [3]. - The center has implemented a collaborative pre-examination mechanism involving R&D personnel, patent agents, and examiners, enhancing communication efficiency and examination quality [3]. Group 3: High-Value Patent Cultivation - By 2025, Wuhan has established 59 high-value patent cultivation centers at provincial and municipal levels, covering strategic emerging industries such as optoelectronic information and artificial intelligence [5]. - These centers serve as both sources of patent output and connectors for technology transfer, exemplified by a patent that generated over 100 million yuan in product value and was licensed to major companies globally [5]. - The city conducts regular seminars on patent analysis, layout, and transformation, promoting a closed-loop ecosystem of "technology R&D—patent protection—industry application" [5]. Group 4: Intellectual Property Navigation and Resource Activation - The city focuses on patent navigation in industries like Beidou and humanoid robots, aligning patent layout with industry needs [6]. - The National Optoelectronic Industry Intellectual Property Operation Center has evaluated over 25,000 patents, facilitating 1,158 cooperation intentions and effectively activating existing patent resources [6]. Group 5: High-Value Invention Patents Statistics - As of June 2025, Wuhan has an average of 44.15 high-value invention patents per 10,000 people, indicating rapid creation, strict protection, and efficient utilization of intellectual property as a core support for building a national science and technology innovation center [7].

Group 1 - Jiangsu has been recognized as an excellent performer in the central government's intellectual property protection assessment for five consecutive years, with its score for 2024 ranking first in the nation [1] - The province has established a comprehensive "1+13+N" rapid collaborative protection system for intellectual property, with nine national-level protection centers, the highest in the country [1] - Jiangsu has cultivated 11 construction units for intellectual property protection, with Nanjing, Suzhou, and Nantong being recognized as national-level units [1] Group 2 - The administrative protection capacity in Jiangsu has significantly improved, handling 17,000 patent infringement cases, nearly three times the number during the previous five-year period [2] - Nanjing has innovated mechanisms for intellectual property protection by establishing a criminal protection center and a collaborative network involving 12 departments [2] - Suzhou has implemented a "three-in-one" reform for civil, administrative, and criminal cases, establishing the first cross-regional intellectual property court in the country [2] Group 3 - Jiangsu has developed a "five-in-one" service system to support enterprises in going global, including foreign trade industry, export products, overseas trademarks, overseas exhibitions, and cross-border e-commerce [3] - The province has established 14 national-level local centers for responding to overseas intellectual property disputes, with a team of over 200 experts providing professional support [3] - The construction of an intellectual property protection highland is a long-term strategic initiative aimed at enhancing legal standards and supporting original, industrial, and collaborative innovation [3]

Group 1 - The core viewpoint of the article highlights the continuous growth in global patent and design applications, with China leading in all three categories of applications [1][2] - In 2024, global patent applications reached a historical high of 3.7 million, marking a 4.9% increase from the previous year, with China contributing 1.8 million applications [1] - The report indicates a recovery in global trademark applications, totaling 15.2 million in 2024, with a slight decrease of 0.1% compared to 2023, and China being the largest contributor with approximately 7.3 million applications [1] Group 2 - The global design application volume grew by 2.2% in 2024, reaching 1.6 million, with China again leading with 906,849 applications [2] - The Director General of the World Intellectual Property Organization emphasized the importance of intellectual property for business and economic growth, stating that innovation is a key driver in the competitive global economy [2] - The annual report is based on statistics from around 150 countries and regions, providing a comprehensive overview of global application trends in patents, trademarks, designs, and other intellectual property areas [2]

Core Viewpoint - The Tongzhou District Market Supervision Administration aims to enhance regional development by optimizing services, strengthening protection, and promoting transformation through tailored support for enterprises and a rapid rights protection mechanism [1] Group 1: Service Optimization - The administration has introduced a "one enterprise, one policy" customized service to provide targeted support for businesses [1] - An expert team is organized to conduct technical analysis within enterprises, assisting in the completion of core patent layouts [1] - Specialized training on patent transformation has been conducted for startup companies [1] Group 2: Performance Metrics - A total of 186 innovative entities received guidance on patent pre-examination filing within the year [1] - The administration provided 449 patent pre-examination services, marking a year-on-year increase of 112.8% [1] Group 3: Collaborative Efforts - The administration has deepened collaboration with the Tongzhou Government Service Center to enhance the efficiency of services such as patent pre-examination consultation and rapid rights protection [1] - A "one-stop" efficient collaboration model has been established to deliver comprehensive intellectual property services [1]

Core Insights - Shenzhen is a key engine for innovation and development in the Guangdong-Hong Kong-Macao Greater Bay Area, demonstrating strong innovation momentum and a robust intellectual property (IP) protection system [1] - Shenzhen has ranked first in the number of PCT international patent applications for 21 consecutive years, with the added value of strategic emerging industries expected to reach 42.3% of GDP by 2024, and a high-value invention patent ownership rate of 110 per 10,000 people [1] Group 1: Intellectual Property Protection - The Shenzhen Intellectual Property Protection Center has established a real-time updated IP data monitoring platform that tracks various fields including patents, trademarks, and copyrights, providing precise navigation for enterprises going overseas [4] - The center has developed a "two full, two fast" core business framework focusing on rapid confirmation and protection of IP across key industries such as new energy, internet, and high-end equipment manufacturing [4] - In 2024, Shenzhen enterprises are expected to face over 60,000 overseas IP litigation cases, accounting for nearly half of the national total, prompting the establishment of a comprehensive overseas IP protection system [4][5] Group 2: Support for Enterprises - The center has implemented monitoring mechanisms in regions with high litigation rates, providing timely information to help enterprises respond quickly to lawsuits [5] - For small and medium-sized enterprises lacking litigation experience, the center offers public guidance and invites overseas experts for practical consultations to assist in managing cross-border IP disputes [5] - A regularized warning system for overseas trademark squatting has been established, and consulting services for enterprises' IP layout are now standard practice [5] Group 3: Collaboration with Hong Kong - In April, the National Intellectual Property Administration approved the inclusion of Hong Kong innovation entities in the patent pre-examination services of the Shenzhen Intellectual Property Protection Center, marking a significant step in cross-border collaboration [6] - The center has tailored its patent pre-examination management system to meet the needs of Hong Kong entities, facilitating online processing of patent applications [6] - Since June, the center has officially launched patent pre-examination services for Hong Kong innovation entities, with several patents already entering the rapid examination phase [6]

Group 1: Intellectual Property and Private Economy - The National Intellectual Property Administration has issued the "Implementation Measures for Promoting the Development of the Private Economy through Intellectual Property" to enhance the intellectual property environment for private enterprises [2][3] - The measures encourage private enterprises to strengthen independent innovation and improve the quality and efficiency of intellectual property examination [2] - The measures also emphasize the protection of innovation results and the establishment of diversified dispute resolution channels for intellectual property issues [2][3] Group 2: Foreign Trade Development - The State Administration of Foreign Exchange has released nine policy measures to facilitate foreign trade and promote cross-border trade payment convenience [4][5] - The measures include expanding the regions for cross-border trade pilot programs and simplifying the settlement procedures for foreign trade enterprises [4] - The notification supports construction companies in managing funds across different countries and projects, enhancing the efficiency of fund utilization [5] Group 3: Local Government Initiatives - Shanghai has introduced the "Local Matching Management Measures for National Major Science and Technology Projects" to improve the management of local science and technology funding [8] - The measures specify that local matching funds will be allocated based on a percentage of the national funding received by local project leaders [8] - Jiangsu Province has initiated a program to cultivate data enterprises, aiming to establish a database of data-related companies to promote high-quality development in the data industry [9]

Core Points - Shandong Province has added four new national intellectual property information public service sites, ranking first in the country for the number of newly registered sites [2] - The newly registered sites include institutions focused on innovation and public service, enhancing the region's intellectual property support [2] - The province has established a total of 28 national-level and 26 provincial-level intellectual property information public service sites, providing robust support for high-value patents and well-known trademarks [2] Summary by Categories New Registrations - Four new units have been recognized as national intellectual property information public service sites for 2025, including Dezhou Wuli High-tech Industry Research Institute and Linyi Intellectual Property Protection Center [2] - Shandong's new registration of public service sites is the highest in the nation [2] Ongoing Support - Three units have been renewed for the 2022 annual registration, including Shandong Agricultural University [2] - The province is committed to enhancing support for these public service sites, focusing on improving service quality and efficiency [3] Strategic Development - Shandong has implemented a patent empowerment strategy and organized enterprise connection activities to strengthen its public service system [2] - The province has developed management guidelines and service handbooks to facilitate the operation of these public service sites [2]

Core Insights - The recent National Intellectual Property Public Service Information Retrieval and Analysis Skills Competition concluded successfully in Nanjing, with participants from Hangzhou achieving notable success, highlighting the city's leading position in intellectual property public service [1][2] Group 1: Competition Overview - The competition was organized by the National Intellectual Property Administration, focusing on the theme of "promoting the integration of technological innovation and industrial innovation" [1] - It included three categories: mechanical, electronic, and chemical medicine, targeting strategic emerging industries and key future sectors [1] - The competition assessed participants' comprehensive abilities in information retrieval, patent analysis, legal thinking, and logical expression through highly realistic technical cases [1] Group 2: Achievements of Hangzhou Intellectual Property Protection Center - Two contestants from the Hangzhou Intellectual Property Protection Center advanced to the national top 18, with one winning first place and another securing third place [1][2] - The center has established a new ecological protection mechanism to support innovation, enhance overseas expansion protection, and improve service quality for industrial chain collaboration [2] - The center pioneered an "instant response mechanism for startup technology enterprises" and launched the "Hangzhou AI" smart intellectual property service system, serving over 5,400 innovation entities and reducing the average patent authorization period to under 80 days, a 93% acceleration compared to the national average [2] Group 3: Talent Development and Future Outlook - Talent development is emphasized as a core support for enhancing service quality, with ongoing training and experience exchange to improve staff capabilities [2] - The center aims to leverage the experience gained from the competition to further strengthen its professional talent team and contribute to technological innovation and industrial upgrading in Hangzhou [2]

Core Insights - The Greater Bay Area is experiencing a wave of innovation, with the upcoming 7th Guangdong-Hong Kong-Macao Greater Bay Area Intellectual Property Trading Expo and International Geographical Indications Products Trading Expo serving as a platform for showcasing and facilitating innovation opportunities [2][11] - The theme of the event emphasizes the role of intellectual property (IP) in driving high-quality development in the Greater Bay Area [2][4] Intellectual Property as a Catalyst - Intellectual property is crucial for every breakthrough in product technology, brand creation, and local specialties, acting as a safeguard for innovation [2] - The expo has evolved into a professional platform for IP transformation, becoming a "barometer" for the region's IP strength and industry direction [2][4] Event Highlights - The expo will feature two main exhibition halls focused on IP trading and geographical indications, with over 200 domestic and international exhibitors expected [4] - Special zones will showcase innovations in AI, biomedicine, and low-altitude economy, highlighting the practical applications of IP in various industries [4][10] Innovation and Industry Synergy - The Greater Bay Area's innovation cluster, comprising Shenzhen, Hong Kong, and Guangzhou, has been recognized as the world's top innovation cluster, reflecting collaborative efforts among cities [6][11] - Policies such as rapid patent examination and IP workstations are enhancing the innovation ecosystem, enabling companies to navigate IP challenges effectively [6][7] Economic Impact and Growth - Guangdong has maintained the top position in regional innovation capabilities and IP development indices for several consecutive years, with a significant number of national IP advantage demonstration enterprises and high-value patent cultivation centers [7][12] - The province has seen a substantial increase in patent transfers and financing through IP pledges, indicating a robust market for IP as a financial asset [7][13] Protection and Legal Framework - A comprehensive network for IP protection is in place, including legal regulations and rapid response centers, ensuring effective enforcement and support for innovation [8] - Collaborative projects between Guangdong and Hong Kong/Macao are enhancing the regional IP protection framework, creating a multi-layered and comprehensive coverage [8] Future Outlook - The expo represents a significant step towards integrating IP with technology and industry, aiming to unlock diverse value in the Greater Bay Area [9][11] - Continued efforts in IP development and collaboration are expected to propel the region from an "innovation cluster" to a "global industrial highland" [11]

Financial Data and Key Metrics Changes - Q3 revenue was $623 million, essentially flat compared to the same period last year, bringing year-to-date revenue to $1.84 billion [17] - The third quarter net loss was $28 million, an improvement driven by higher foreign exchange gains and the absence of a non-cash impairment charge recorded last year [17] - Adjusted diluted EPS was flat sequentially at $0.18, with changes attributed to the divestiture of ScholarOne [17] - Free cash flow was $115 million in Q3, totaling $276 million year-to-date, driven by adjusted EBITDA and working capital [22] Business Line Data and Key Metrics Changes - The A&G segment saw a 2% ACV growth, with a subscription mix now at 93% compared to 81% last year [7][8] - The Intellectual Property segment's recurring revenue was flat year-to-date, representing a 3% improvement in organic growth compared to the full year of 2024 [9] - Life Sciences and Health segment returned to 2% ACV growth, driven by new product introductions and AI integration [11] Market Data and Key Metrics Changes - The company secured over 100 contracts for its new content subscription framework, indicating strong market demand [8] - Renewal rates in Life Sciences and Health improved to 93%, up 100 basis points year-over-year [5] - The U.S. dollar remained weaker against foreign currencies, providing a foreign exchange tailwind on revenue [20] Company Strategy and Development Direction - The company is focused on executing its value creation plan, emphasizing product and AI development to drive organic growth [6][14] - Plans to streamline the business model and market focus include exiting A&G transactional books and the Life Sciences Real World Data Resell Market [15] - The company aims to enhance its core subscription and recurring revenue mix to improve predictability, achieving an 8% improvement this year compared to last year [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning the Intellectual Property segment to sustainable growth under new leadership [9][35] - The company anticipates continued acceleration in organic annual contract value and expects to raise revenue guidance by $50 million [24] - Management believes that operational efficiency and margin expansion will be achieved through the adoption of agentic AI [14] Other Important Information - The company has completed $150 million in share repurchases year-to-date and paid down $100 million in debt [5][23] - The strategic disposals are expected to lower revenue by approximately $90 million this year, with a similar impact anticipated next year [28] Q&A Session Summary Question: Insights on the patent renewal business and competitive landscape - Management noted that the patent and trademark renewal service declined by about 3% last year but is now flat year-to-date, with expectations for improvement under new leadership [35][36] Question: Updates on new innovations in the value creation plan - Management highlighted the introduction of AI-enabled products and a renewed focus on product innovation, with several new products expected to drive growth [41][42] Question: Impact of large ebook transactions on revenue and EBITDA - Management indicated that multiple large ebook transactions positively impacted revenue, with expectations for a decline in that area moving forward [47] Question: Potential of the business after strategic changes - Management expressed optimism about returning to market growth rates of 3-4% over time, citing strong fundamentals and a supportive customer base [48][49] Question: ACV acceleration and segment contributions - Management noted improvements across all segments, particularly in Life Sciences, with expectations for continued growth in the IP segment [55] Question: Trends in patents and trademarks - Management observed a gradual increase in patents in force and anticipated a recovery in volumes driven by innovation, particularly in AI [61][62] Question: Transactional revenues and their impact on guidance - Management explained that slower attrition of disposals contributed to improved revenue guidance, with a significant portion of revenue expected to decline next year [72]