Sam Fazeli

That's wonderful to hear.

I have to say, I think we're going to focus probably a lot more on oncology today, as Shingley knows that we have a very deep effort in oncology, but clearly your background in cardiometabolic

would also be a fantastic conversation to have whenever we get to that point, given all the interest and the sudden resurgence of interest in cardiometabolic, having been shunned by the world of pharma for a decade or two.

And now, of course, with the advent of GLP-1s and obesity.

And of course, GLP-1s also seem to have a role to play in preventing cancer.

Or one day, I'm sure, when we get some more data that's useful to talk about, we can talk about that.

So that's actually a really good segue to go and move into Fosun Pharma.

First on Pharma is, you know, I did say $5.7 billion of revenue in 2024.

I mean, a lot of that's coming from, I don't know what to call it, legacy business, legacy product or standard pharmaceutical products.

And then, of course, there's the innovative therapies that I think is what the company wants to be more focused on or as focused on going forward.

So do you want to give us a little bit of a breakdown of how the company businesses are structured in terms of segments, etc.

?

Now, so that's interesting.

I mean, I have a friend of mine who is a well-known immunologist who tells me that there isn't a single disease that you can point to that doesn't have the immune system involved in it.

So, of course, that is, I think, a very good segue to any of these indications, cardiometabolic, chronic inflammation, neurodegenerative diseases, and, of course, oncology.

I think the company has a very interesting approach to the way that it operates in other countries outside of China.

and even within China.

But do you want to tell us about the various subsidiaries that you form and what the objective of those is?

Does that also help you if at some future time political tensions became difficult to manage, to manage that aspect?

Maybe talk to us about how you think about structuring the ex-China businesses.