Core Viewpoint - The establishment of the Sci-Tech Innovation Board (STAR Market) has provided a favorable development platform for China's technology innovation enterprises, supported by policies and a more inclusive financing environment [1][3]. Group 1: Support for Sci-Tech Enterprises - Sci-Tech enterprises face challenges such as long R&D cycles, high funding requirements, and significant failure risks, necessitating support from policies, funding, and technology [3]. - The STAR Market has evolved to provide precise support for listed Sci-Tech enterprises, showcasing positive development trends [3]. - Companies like Boryung Pharmaceutical have transitioned from complex generic drug production to innovative drug R&D, benefiting from the financial support provided by the STAR Market [4]. Group 2: Capital Empowerment and Innovation - Boryung Pharmaceutical has invested a total of 1.2 billion yuan in R&D over six years, with key innovative drugs entering critical clinical phases [4]. - Haoyuan Pharmaceutical has rapidly developed its drug R&D center and production base after listing on the STAR Market, enhancing its service capabilities for the innovative drug industry [4]. Group 3: AI Technology and Innovation - The rapid development of AI technology, particularly in vertical applications, is empowering innovation across various industries [5]. - AI models are adept at solving complex nonlinear problems, helping to overcome innovation bottlenecks in fields like biomedicine and materials science [5]. - The China Securities Index Company has been enhancing the STAR Market index system to guide social capital towards key supported areas, promoting high-quality development of Sci-Tech companies [5][6]. Group 4: Future Developments and Market Dynamics - The STAR Market is set to undergo institutional upgrades with the introduction of the "1+6" policy, improving financing channels for Sci-Tech enterprises [8]. - The deepening reforms aim to enhance inclusivity for hard-tech companies, particularly in biomedicine and high-end equipment sectors [8]. - The integration of AI technology is expected to reduce investment risks and enhance innovation capabilities in the biopharmaceutical sector, leading to higher returns on investment [9]. Group 5: Global Recognition and Competitive Advantage - China's overall innovation capability is gaining global recognition, with a significant increase in domestic biopharmaceutical intellectual property cases being exported [9]. - As China's Sci-Tech strength continues to grow, the capital market's risk appetite for innovative drug companies is expected to shift positively, further enhancing competitiveness in the global market [9].