April 10, 2023, Hangzhou – The 7th All Blossom Conference, guided by the China Association for Science and Technology and co-hosted by the Hangzhou Municipal Government, the Zhejiang Provincial Committee of the China National Democratic Construction Association (Minjian), and the China Investment Development Promotion Association, was held in Hangzhou today. At the event, the Hangzhou Entrepreneurship & Venture Association, in collaboration with Welian, officially released the "2023 Hangzhou Unicorn & Emerging Unicorn Enterprises List." Westlake Pharma was successfully named a Hangzhou Emerging Unicorn.

Technology is the primary productive force, talent the primary resource, and innovation the primary driver. Hangzhou has actively responded to the call from the Zhejiang Provincial Party Committee and Provincial Government to thoroughly study, comprehend, and implement the guiding principles of the 20th National Congress of the Communist Party of China and those articulated by the General Secretary Xi Jinping on the development of the private sector and high-standard opening-up.Hangzhou is fostering a vibrant ecosystem for innovation and entrepreneurship. This initiative aims to turn challenges into opportunities and forge new paths forward, further solidifying Hangzhou's status as a national "City of Innovation and Vitality" and a "Pilot Zone for Sci-tech and Finance Reform."

As a leading national hub for innovation, Hangzhou has consistently maintained a thriving new economy, driven by its digital sector, demonstrating stable competitiveness amidst various challenges. This year's list includes 354 Future Unicorn companies. Notably, Westlake Pharma was named to the 2023 Hangzhou Emerging Unicorns list in the healthcare category, making its debut on the list in recognition of its R&D capabilities in novel drugs.