Core Insights - Jiangsu's "Beauty Harbor" initiative aims to enhance the high-quality development of the beauty industry in Taicang through a one-stop service window for cosmetics registration and approval [1] - Taicang has become a major hub for the beauty industry in Suzhou, with a comprehensive industrial chain covering R&D, manufacturing, testing, and trade [1] - The Taicang Port has emerged as Jiangsu's largest cosmetics import port, with a total import and export value of $320 million last year, where imports accounted for over $280 million, representing more than 60% of the province's total [1] Industry Development - The Taicang government is committed to building a beauty industry base, leveraging its industrial foundation, geographical advantages, and bonded features to create a complete beauty industry chain [1] - The "Beauty Economy" is being accelerated in Taicang, promoting quality and expansion in consumer goods through new fashion consumption [1] Major Players - Leading companies like Reckitt Benckiser, Procter & Gamble, and Henkel have established significant operations in Taicang, benefiting from its geographical advantages and talent resources [2] - Reckitt's Taicang factory, operational since March 2022, has an intelligent production line capable of producing 400,000 to 500,000 bottles of various hygiene products daily, with 9% of its products exported [2] - Procter & Gamble's Taicang factory is the largest production and logistics base in Asia, while Henkel has recently expanded its operations in the area [2] Ecosystem Growth - The presence of leading enterprises has attracted numerous upstream and downstream companies, including raw material suppliers, packaging firms, and testing service providers to Taicang [3] - The Taicang Biotech Park has welcomed major players like Apra (Jiangsu) Plastic Products Co., Ltd. and Shanghai Weipu Testing Technology Group, enhancing the local ecosystem [3] - The region is also nurturing small and medium-sized R&D cosmetic production companies, contributing to the growth of the medical beauty sector [3] Strategic Goals - The ultimate goal of the "Beauty Harbor" initiative is to create a new growth pole for the county economy and improve the happiness index of residents [3] - Taicang aims to provide optimal resources, comprehensive policy support, and attentive services to ensure a conducive environment for businesses [3]

Core Viewpoint - Tonghe Pharmaceutical's investment in Hangzhou Boya Biopharmaceutical Co., Ltd. focuses on the development and production of long-acting complex formulations, but it is not classified as an innovative drug company [1] Company Information - Hangzhou Boya was established in 2023 and is based in Hangzhou, specializing in long-acting complex formulations [1] - The core team of Hangzhou Boya is led by Dr. Xia Jinqiang, who has over 30 years of experience in drug development and has held senior positions in major pharmaceutical companies [1] - Dr. Xia's credentials include a postdoctoral fellowship at Cornell University and a Ph.D. from Texas A&M University, along with a master's degree in analytical chemistry from the Dalian Institute of Chemical Physics [1] Research Focus - Hangzhou Boya's research is concentrated on complex dosage forms such as microsphere injectables, oral dissolving films, and biopharmaceuticals [1]