Domestic AI Healthcare Industry Development and Overseas Listing Forum Held in Shanghai

On December 4, the Special Forum on the Development of China's AI Medical Industry and Overseas Listing was successfully held at the Zizhu Emerging Industry Technology Research Institute in Shanghai. This event aimed to discuss the development of the AI medical industry in China and the dynamics of overseas capital markets, while also looking ahead to the future development and trends of AI technology.

During the leadership speech session, Qu Lili, head of the Minhang District Biomedical Special Task Force and deputy director of the District Investment Promotion Center, pointed out that artificial intelligence, as an important driving force in the new round of technological and industrial revolutions, will impact the future of healthcare. With its "3+X" industrial layout, Minhang District has become a significant growth hub for Shanghai's leading biomedicine industry. Looking ahead, Minhang District will comprehensively promote the high-quality development of AI medical technology innovation and industry, jointly exploring innovative applications of AI technology in the healthcare field.

Xu Yaying, Deputy Secretary of the Party Committee and General Manager of Dalinghao Bay Group, pointed out that Dalinghao Bay has a strong industrial foundation and abundant scientific and technological innovation resources; its positioning as a "Smart Medical Industry Base" aligns with this AI forum. In the future, Dalinghao Bay Group will actively leverage the power of technology to empower the development of the elderly care industry, smart eldercare, and jointly explore the latest advancements, challenges, and opportunities of AI technology in the medical field, contributing to the application and development of the AI industry in healthcare.

Wang Li, head of the Healthcare Industry Group of Haitong Securities Investment Banking Committee, pointed out that AI's early disruptive value attracted the attention of the first batch of investors, but it also faced skepticism due to unclear application scenarios during its development. The key factor for the sustainable development of China’s biopharmaceutical innovation lies in efficiency. AI technology can upgrade the original efficiency in medical innovation. Taking AI + drug development as an example, the success of AI technology application should not be judged by whether the drug can eventually be successfully launched or commercialized, but rather by whether AI technology has fundamentally enhanced the overall efficiency of the drug development chain and reduced development risks. Moreover, against the backdrop of developed countries like Europe and the U.S. placing significant emphasis on the development of the AI healthcare industry, as a breakthrough technological tool, the future value AI brings to China’s innovative drug sector is not only about disrupting and improving efficiency but, more importantly, maintaining China’s developmental advantage and position in the innovative drug field. The future application and development of AI technology in the healthcare sector deserve everyone’s attention.

After the leadership speech session, Zhang Lihua, Executive Vice Dean of the Institute of Intelligent Robotics at Fudan University, delivered a keynote speech on "Exploration and Practice in Intelligent Medicine." He pointed out that high-quality development in the healthcare field requires transformative technologies, with AI + Metaverse being the revolutionary technology in this sector. The integration and application of new technologies such as the Metaverse and AI can further enhance the utilization of medical resources and service levels, thereby promoting another transformation in China's medical industry and system.

He Wen, Strategic Vice President of DP Technology, shared insights on the theme of "AI for Science." She introduced DP Technology's large gene models, protein models, atomic models, molecular models, and specific work content in the "AI for Science" field. The company has openly proposed a revolutionary scientific research paradigm of "multi-scale modeling + machine learning + high-performance computing." In recent years, DP Technology has actively developed microscale R&D solutions, empowering major discoveries in life sciences and material sciences, positioning itself as a global leader and infrastructure builder in "AI for Science."

Following the keynote speeches in the first half, a roundtable forum on "The Current Status, Trends, and Policy Recommendations for AI Medical Industry Development" took place. The roundtable forum was hosted by Deng Wei, Director of the Healthcare Industry Group at Haitong Securities Investment Banking Division. Participants included Liu Fan, Co-founder and CEO of NeoX Biotech; Wang Jue, Senior Business Development Director at Insilico Medicine; Wang Yani, Investment Director of AstraZeneca - CICC Healthcare Industry Fund; Yin Jiaheng, Chief Technology Officer of Synyi; and Liu Xiao, Managing Director of YuanSheng Ventures. They shared insights and discussed the application, development, and investment of AI technology in the healthcare industry.

Mr. Liu Fan, Co-founder and CEO of Xingkangyuan Bio, believes that the application of AI technology in drug development is divided into three stages: target discovery and validation, molecular design, and clinical development plans. Currently, the second stage is the most mature. For AI pharmaceutical companies, the most critical capability is their project initiation ability, which refers to the ability to initiate clinical projects based on market demand, as well as the execution ability after project initiation.

Ms. Wang Jue, Senior Director of Business Development at Insilico Medicine, believes that AI technology accelerates the synchronization between the scientific community and the industrial sector. With the support of AI technology, the efficiency of each stage in new drug development will be enhanced in the future. Overseas large MNCs are also gradually incorporating AI technology into their strategic layouts.

Ms. Wang Yani, Investment Director of AstraZeneca-CICC Healthcare Industry Fund, introduced AstraZeneca's layout in China and its three major engines, as well as the key focus areas of the company as an industry-backed investment institution. For service-oriented AI healthcare companies and product-based companies, each type has its own advantages and value, with primary attention on the transmission of the value chain and the final payment methods.

Mr. Yin Jiaheng, Chief Technology Officer of Synyi, believes that the application of AI technology is beneficial for both doctors and patients. For doctors, digitization and paperless processes improve the efficiency of hospital workflows. For patients, the use of AI technology in preliminary disease screening, remote education, and other applications enhances the quality of healthcare. Additionally, the application of AI technology helps address the issues of imbalanced and insufficient medical resources in China.

Mr. Liu Xiao, Managing Director of YuanSheng Venture Capital, introduced the main investment layout of his fund, as well as the specific investment strategies for service-oriented AI healthcare companies and product-based enterprises. He also pointed out that the future development of the AI healthcare industry should be viewed and verified with a longer-term perspective.

During the tea break, the atmosphere in the venue was warm and lively. Participants enjoyed refreshments while exchanging views and insights on the AI healthcare industry.

After a relaxing tea break, the organizers of this event, Haitong Securities and AllBright Law Offices, jointly released the much-anticipated "Research Report on the Origin, Current Status, and Development Trends of the AI Industry at Home and Abroad" (hereinafter referred to as the "White Paper"). Hu Xuan, Director of the Healthcare Group at Haitong Securities, provided a brief introduction to the content of the White Paper on-site.

"The White Paper" release ceremony was hosted by Yu Zhengchun, senior partner of AllBright Law Offices. The release initiators included Yu Zhengchun, Xiang Zhongwen, Wu Xuri, and Pang Jing from AllBright Law Offices, as well as Zhang Zihui, Co-Head of the Healthcare Industry Group of the Investment Banking Division of Haitong Securities, and Shen Sheng and Hu Xuan, Directors of the Haitong Securities Healthcare Group.

After the release of the White Paper, Hu Xuan, Director of the Healthcare Group of the Investment Banking Committee of Haitong Securities, delivered a keynote speech titled "Light Boat Ready to Cross Ten Thousand Mountains: Sharing on the Dynamics of Overseas Capital Markets and IPO Practices." He shared the current status of major overseas capital markets, with a focus on analyzing the status of Hong Kong IPO reviews, key listing standards, listing procedures, and representative pharmaceutical enterprises. He also introduced the dynamics of overseas capital markets in the United States and Singapore, providing a professional analysis of the opportunities and challenges faced by China's healthcare companies in overseas listings. Additionally, he offered candid advice on the selection of listing destinations and timing for companies going public overseas.

Wu Xuri, Partner of AllBright Law Offices and Secretary General of the Medical Health Committee, shared insights on legal issues and ethical challenges in the main application scenarios of AI + healthcare during the next keynote speech, combining relevant practical issues. Attorney Wu mainly discussed China's major AI industry policies, key regulatory laws, diagnostic and treatment standard documents, and compliance of AI medical data. He addressed ethical challenges in current AI imaging diagnostics and AI medical robotics fields, sharing related legal regulatory requirements, and proposed practical compliance recommendations for development.

The second half of the keynote speech was followed by a roundtable forum on "Major Legal Issues and Ethical Challenges in the Development of the AI Medical Industry." The forum was hosted by Dong Wentao, partner at AllBright Law Offices and Secretary General of the AllBright Digital Technology and Artificial Intelligence Industry Committee. The guests sharing and discussing included Qin Yong, Chief Operating Officer of Airdoc; Zhao Jiaxin, Senior Manager of Suzhou Tengmai Pharmaceuticals; Song Liujun, BD Vice President of Jitai Pharmaceuticals; Hou Zhancai, Investment Manager at Yuan Yi Capital; Ye Shengyin, Director of the Haitong Healthcare Group; and Liu Tingting, senior lawyer at AllBright.

Mr. Qin Yong, Chief Operating Officer of Airdoc, believes that the current opportunity for AI commercialization lies in efficiency improvement. However, it takes a long time for AI-assisted diagnostic products to obtain medical device certificates, and policy support is still needed during the process of compliant development. Moreover, the integration of AI technology with healthcare inherently involves a process where the internet model merges with the traditional healthcare industry.

Ms. Zhao Jiaxin from DP Technology in Suzhou pointed out that DP Technology has established a strict firewall for customers' experimental data, ensuring customer privacy through stringent protocols, which has led many customers to willingly provide desensitized data to help DP Technology optimize its platform; at the same time, DP Technology also builds its own datasets by internally generating structured data, jointly promoting model optimization.

Mr. Song Liujun, Vice President of Business Development at JiTai Pharmaceuticals, introduced the main applications of AI technology in mRNA drug development, stating that in the future, with the joint advancement of AI and mRNA technologies, there will be a significant boost to new drug R&D capabilities.

Mr. Hou Zhancái, Investment Manager of Yuanyi Capital, pointed out that Yuanyi Capital focuses on the AI technology, data quality, and expert support and clinical resources in the medical dimension of AI healthcare companies. He believes that if data protection is properly managed and desensitization is applied, enterprises will have more opportunities for expansion in China and overseas in the future.

Mr. Ye Shengyin, Director of Haitong Medical Health Group, shared AI medical industry insights based on practical experience, stating that the commercialization capability of AI medical enterprises, the industry chain's recognition of their value, compliance challenges, and even the capital market's valuation of them, are all influenced by the level of standardization in their respective sectors.

Ms. Liu Tingting, a senior lawyer at Jin Tiancheng, pointed out that the current AI+ healthcare trend is irreversible and aligns with national policy guidance. Relevant companies need to focus on regulatory red lines, mandatory AI labeling, data protection, and ensuring their own compliance qualifications.

Finally, He Niansheng, senior partner of Jingtian & Gongcheng Law Firm and the general convener of the Securities and Capital Markets Committee, delivered a summary speech at the forum and announced the successful conclusion of the event.

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