As the year draws to a close and a new chapter begins, on January 15, the Traditional Chinese Medicine Science and Technology Industrial Park of Co-operation between Guangdong and Macao (hereinafter referred to as the “Industrial Park”) held its 2026 Work Conference to comprehensively summarize the achievements of 2025, systematically plan key tasks for 2026, build consensus on development, and inspire momentum for future progress. The conference thoroughly reviewed the accomplishments and lessons learned from 2025, conducted an in-depth analysis of the current development landscape, and scientifically outlined a blueprint for future growth, laying a solid foundation for kicking off and making a strong start in the coming year. Attending the conference were Tan Chining, Advisor to the Office of the Secretary for Economy and Finance of the Government of the Macao Special Administrative Region, and Chairman of the Board of Directors of Macao Investment and Development Co., Ltd.; Zhang Haihong, CEO of Macao Investment and Development Co., Ltd.; Qiu Runhua, Director of Macao Investment and Development Co., Ltd.; Feng Jialin, Director; Zhen Qixia, Deputy CEO; Huang Zhongjian, Deputy Director of the Bureau of Economic Development of the Hengqin Guangdong-Macao In-Depth Cooperation Zone; Wu Song, Chairman of the Board of Directors of the Industrial Park; Yang Xiaohui, General Manager of the Industrial Park; and the company’s management team members Zhang Yongyan, Shi Yan, Wang Dan, Sun Hongtao, Wang Zhigang, Xu Yanbin, and Chen Liling; representatives from the 137 enterprises currently stationed in the Industrial Park; as well as all employees of the Industrial Park and its subsidiaries.

General Manager Yang Xiaohui delivered the annual work report on behalf of the management team. He pointed out that over the past year, with the careful guidance of relevant central authorities, the Macao Special Administrative Region Government, the Hengqin Executive Committee, shareholders, the Supervisory Committee, and the Board of Directors, as well as the full support from Taiping Group, the industrial park has closely focused on the strategic positioning of “Macao + Hengqin,” stayed firmly aligned with the main theme of moderately diversifying Macao’s economy, and concentrated on the core mission of promoting the industrialization and modernization of traditional Chinese medicine overseas. Despite facing complex external challenges, the park has achieved remarkable results in all its endeavors.

Yang Xiaohui systematically summarized the key highlights of 2025 work from nine major dimensions: both the effectiveness and efficiency of investment attraction have risen; in 2025, the industrial park operated steadily, with operating profits achieving substantial growth, and the overall occupancy rate of the park remained high at 82.46%; the industrial chain ecosystem has become increasingly sophisticated, significantly enhancing the strength of enterprises; fruitful results have been achieved through the integration of “Traditional Chinese Medicine +”; the TCM Cultural Experience Center and the Aogin TCM Cultural Street have driven innovation in cultural and tourism scenarios; the Famous Doctors’ Clinic offers a range of free medical consultations and unique experience services; the Yuechun Hotel has improved its operational quality and efficiency, and the park’s TCM-themed events have been exceptionally diverse; breakthroughs have been made in cross-border collaboration, with the “Macau Registration + Hengqin Production” model continuing to deepen, the Guangdong-Macau Pharmaceutical Public Platform providing ongoing support, and TCM’s “going global” efforts gaining steady momentum; professional service capabilities have leaped forward, with policy research and license management precisely empowering enterprise growth; the integration between Macao and Hengqin has deepened and become more substantive, with notable agglomeration effects for Macao-based enterprises and talent; Taiping Resources has enhanced synergy and efficiency, injecting strong impetus into co-building and sharing the ecosystem; internal governance continues to be optimized, with more robust management systems in risk control, human resources, finance, and engineering; brand influence has significantly increased, and the park’s reputation and impact continue to soar.

Yang Xiaohui objectively analyzed the current challenges and, guided by the main theme of “enhancing efficiency, expanding capacity, and ensuring stable development,” made comprehensive arrangements for key tasks in 2026 across seven areas: maintaining rental levels and optimizing services; boosting revenue from industrial services; increasing revenue from medical and healthcare services; enhancing cultural and tourism revenue; strengthening social impact; advancing the second-phase land development; and improving the company’s management capabilities. He also clearly defined the implementation paths and target tasks.

Following that, Chairman Wu Song delivered a speech. First, on behalf of the company’s board of directors and management team, he expressed heartfelt gratitude to governments at all levels and shareholder entities for their care and guidance in the industrial park’s work; paid high respect to all enterprises that have placed their trust and support in the industrial park; and extended warm greetings to all employees and their families.

Wu Song pointed out that the achievements made in 2025 were hard-won and deserve recognition. The year 2026 marks the beginning of the 15th Five-Year Plan, a year of special significance. All members of the industrial park must deeply study and grasp the spirit of the Fourth Plenary Session of the 20th Central Committee of the Party, earnestly implement the recommendations of the 15th Five-Year Plan, closely align these efforts with the actual conditions of the industrial park, and comprehensively advance related work. Wu Song conducted a profound analysis of the current macroeconomic situation, changes in the international landscape, and the wave of technological revolution, emphasizing that 2026 is a pivotal year for the industrial park to push forward the second phase of its development and move toward high-quality growth. He noted that the industrial park shoulders a special political mission of promoting the moderate diversification of Macao’s economy. After more than a decade of sustained efforts, it has laid a solid foundation for making breakthroughs upward; yet it also faces challenges such as intensifying external competition and a relatively weak internal ecological system. The industrial park must make every effort to enhance its capabilities and build a robust ecosystem—a “forest” capable of self-sustaining and engaging in a virtuous cycle—rather than merely relying on external support for survival, like a “bonsai.”

Chairman Wu Song clearly stated that the industrial park must pursue a path of high-quality development, with the core shift from the traditional “lease-based operation” model to a “lease-plus-value-creation” model. He systematically outlined three new growth curves that will be重点 developed in the future: First, the industrial services growth curve. Leveraging the advantages of existing public platforms, we will deepen our full-chain services under the “Macau registration + Hengqin production” model—particularly strengthening and refining our efforts in areas such as non-pharmaceutical product registration in Macau and domestic approval processes for innovative medical devices—to provide enterprises with one-stop, high-value-added services spanning consulting, approval, production, sales, and investment and financing. Second, the cultural and tourism services growth curve. Centered around the Traditional Chinese Medicine Culture Experience Hall, we will highlight uniqueness, experiential appeal, and interconnectedness to create a new landmark for Macao-Hengqin cultural and tourism development. Third, the medical and healthcare services growth curve. Taking the “Chinese Solution for Precision Health Management” as the main driving force, we will integrate high-quality resources from both traditional Chinese and Western medicine to deliver differentiated, internationalized, and high-end medical and healthcare services, thereby supporting Macao’s development of medical and health tourism.

Wu Song emphasized that, to achieve the above-mentioned goals, all employees must strengthen their sense of responsibility, enhance their self-motivation, bolster their professional competence and hone their real skills, foster a spirit of unity and create a positive working atmosphere, and reinforce risk prevention and control measures to ensure absolute safety. Together, we must drive the industrial park toward a virtuous development spiral and make our due contribution to the moderate diversification of Macao’s industries!

Finally, Chairman Tan Zhining delivered a speech. He began by recognizing the efforts made over the past year by the industrial park’s management team and the progress they’ve achieved thus far, and he expressed gratitude for the support provided by governments at all levels and the enterprises within the park. Chairman Tan pointed out that the path of industrial park development is by no means smooth; while acknowledging our achievements, we must also clearly recognize the urgency of addressing external environmental challenges and enhancing internal management effectiveness.

To promote higher-quality and more sustainable development of the industrial park, Chairman Tan put forward clear requirements from eight key areas: First, enhance the quality and efficiency of tenant management and diversify revenue streams. We must shift tenant management from a “scale-first” approach to a “quality-and-efficiency-first” approach, optimize value-added services for enterprises in the park, actively explore diversified revenue sources, cultivate new growth models, and reduce reliance on single rental income. Second, strengthen team performance capabilities and unleash the organization’s intrinsic motivation. Optimize the talent structure, especially by recruiting core management personnel with backgrounds in traditional Chinese medicine, and establish a scientific incentive and constraint mechanism. Third, practice a corporate culture characterized by professionalism, pragmatism, and integrity. Leading cadres must set an example by strictly adhering to rules and regulations, establishing their reputations through professional competence, and achieving results with a pragmatic work style. Together, we should foster a clean, upright, and proactive organizational atmosphere, ensuring that the corporate culture truly becomes a powerful driving force for development. Fourth, deepen reforms of self-operated projects and strive to improve operational efficiency. We must make every effort to enhance the operational effectiveness of existing projects such as the Traditional Chinese Medicine Culture Experience Hall and Yue’ao Pharmaceutical, and require the industrial park to focus its efforts squarely on these self-operated projects, fully boosting both economic and social benefits. Fifth, comprehensively promote cost reduction and efficiency enhancement, and rigorously control costs. Optimize resource allocation, with particular emphasis on strengthening cost management in key areas such as personnel, property management, and procurement, thereby ensuring financial health. Sixth, stay true to our original mission and positioning, and further integrate Macao-specific elements. Continue to intensify efforts to attract and nurture Macao-funded enterprises, actively explore the implementation of the “Macao-registered, Hengqin-produced” model, fully leverage the overseas registration advantages of Macao’s traditional Chinese medicine brands, and vigorously promote the international registration of Chinese patent medicines produced by park enterprises in Portuguese-speaking countries and Southeast Asian nations, striving for new breakthroughs in the integration of Macao and Hengqin industries. Seventh, improve the corporate governance system and fully harness its effectiveness. We must strictly enforce relevant corporate governance regulations; major matters must be submitted for review according to established procedures to ensure compliant and effective governance. Eighth, steadily advance land development and plan for the long-term layout of the park. By promoting the efficient development of undeveloped land and attracting enterprises with strategic synergies, we can enrich the park’s industrial ecosystem, achieve positive interactions between new and existing projects, and inject new momentum into the sustained development of the industrial park.

Finally, Chairman Tan Zhining emphasized that Aotou Company will further strengthen strategic guidance and oversight. He encouraged all colleagues to stay true to their original aspirations, adopt a professional and pragmatic attitude, and jointly safeguard the reputation and future of the industrial park, thus living up to the trust and expectations of the nation, the Macao Special Administrative Region Government, and all sectors of society.

The annual work conference has unified our thinking, clarified our direction, and rallied our strength. All cadres and employees of the industrial park will take this as a new starting point, firmly implement the important instructions delivered by General Secretary Xi Jinping during his inspection of the industrial park and the cooperation zone, and earnestly carry out the Macao SAR Government’s “1+4” industrial plan and the Hengqin Development Plan. With even greater vigor and a more pragmatic approach, we will unite as one, forge ahead with determination, and jointly write a new chapter for the industrial park, making new and greater contributions to supporting Macao’s moderate economic diversification and promoting the inheritance and innovation of traditional Chinese medicine!