Q3: China is advancing the unified national market, with an urbanization rate of 67.9 percent and total retail sales surpassing 50 trillion yuan. As domestic demand expands, what structural opportunities does this vast, increasingly integrated market present for your portfolio, distribution channels and localization strategy? Does deeper market unification reduce operational fragmentation and compliance costs? How do you position your brand and product mix to capture demand from both top-tier cities and fast-growing lower-tier markets?

YANG: China's continued efforts to advance the development of a unified national market will further release the potential of domestic demand and accelerate capacity building and efficiency improvements for laboratories across various industries. This creates important structural opportunities for companies like Agilent. We are actively responding to growing demand in sectors such as food safety, environmental protection, pharmaceuticals and chemicals by introducing integrated solutions and next-generation laboratory automation technologies. Through innovation, we aim to help modernize laboratory ecosystems and support China's manufacturing sector in advancing toward higher-quality, more intelligent development.

ZHAO: China's unified market and expanding domestic demand create structural opportunities for Astellas. Our product portfolio targets oncology, women's health and transplant immunology, including innovative first-in-class therapies. We are deepening channel partnerships, such as Shanghai Pharmaceuticals and JD Health, to ensure broad patient access upon launch. Local investments, such as our first innovation R&D center and segmented production project, further embed us in China's healthcare ecosystem. Through our R&D, as well as production, we continuously focus on the unmet medical needs of Chinese patients. For example, in the field of gastric cancer, which is highly prevalent in China, we have accelerated the introduction of CLDN18.2.

AN: The 15th Five-Year Plan also highlights the strategic priority of strengthening the domestic economic cycle. This year's Government Work Report further emphasizes boosting consumption and building a strong domestic market. These signals reinforce our confidence in the continued growth of China's consumer market. Through deep local insights and continuous innovation, Henkel Consumer Brands aims to meet Chinese consumers' growing demand for high-quality and personalized products. The Asia R&D center for consumer brands in Shanghai and the acquisition of Suzhou Boke as a dedicated production site for Henkel's consumer business enable us to respond faster and more flexibly to evolving consumer needs.

POON: China's large and integrated market offers great opportunities for Infineon – most notably, a broader market reach and closer ties with our customers, as we grow alongside them. With our broad portfolio across many applications and industries, we are well positioned to support the rapid market development. We work closely with ODMs, OEMs, ecosystem partners and distribution networks, and provide end-to-end system solutions to various customers. By leveraging our leading technologies and local capabilities, we help improve efficiency and drive industrial development. Going forward, we will continue to deepen our cooperation with local partners to jointly unlock the huge potential of China's market.