Q4 As China continues to pursue high-quality development through a homegrown path to modernization, what is the vision for your company's business in the country over the long run? What business opportunities do you foresee emerging as part of the process of Chinese modernization?

SHEN: The semiconductor industry plays an important role in high-quality development. The government's strong support and growth in semiconductor end markets has driven ongoing potential for the country's semiconductor market, especially in the mature node market.

In this context, ASML will support this growth to the best of our abilities while being compliant with international laws and regulations. Our product portfolio aligns with the road maps of our customers, delivering cost-effective solutions in support of their applications.

We have a team of more than 800 customer support engineers to assist with the smooth operation of our holistic lithographic solutions in China, with 95 percent local-solving power. We have also built development centers in China for computational lithography and e-beam metrology and inspection to provide more efficient support to our Chinese customers.

FU: Avaya has witnessed China's substantial growth over the years. China has consistently been our focal point because it not only exhibits great resilience in addressing various challenges, but also possesses an extraordinary capacity for innovation. Avaya is enthusiastic about collaborating with our peer companies in the communications sector to accelerate the country's future growth. As China makes significant strides in technologies, new opportunities are emerging across all tech-related industries, which will boost our business growth. Recognizing this, Avaya will seize opportunities by advancing our technical edge to generate more value for our customers and the industry.

KHAOU: China has achieved unprecedented modernization with a huge population. This makes Dassault Systemes proud to participate in and witness China's modernization process. China's high-quality development will not only unlock the potential of the Chinese market, but also bring new opportunities to the world, greatly stimulating the global economy.

Under the guidance of its policies, the Chinese government will focus on pushing forward the development of AI, semiconductors, biotechnology and health, thereby boosting economic development through technological innovation and bringing industries into a phase of accelerated development.

Dassault Systemes will continue to take deeper root in the Chinese market, better provide professional services to customers, work with local partners to continue to build a common growth ecosystem, and strive to help China achieve its innovation-driven high-quality development goals.

HERZBERG: Our vision for Aveva's business in China closely aligns with China's path to modernization. China's emphasis on sustainability, energy efficiency and innovation perfectly complements our industrial intelligence solutions. We see China as a highly promising and enduring market due to its immense scale, innovation capabilities and unwavering commitment to achieving its net-zero goals.

Our role is to actively support this transformative journey by offering solutions that empower companies to produce more while minimizing waste and energy consumption. As China continues to modernize, we anticipate growing demand for digital transformation across a wide range of industries. This evolving landscape presents exciting opportunities for Aveva to collaborate with businesses of all sizes, helping them optimize their operations, reduce carbon emissions and enhance efficiency. Our adaptable software solutions cater to enterprises of varying scales, positioning us well to contribute to China's pursuit of high-quality development.

Q5 Could you share with us one or two of your successful business or personal stories in the process of growing with China?

SHEN: The presence and development of ASML in China over the past 30 years is a great story in itself. Since its first shipment to China in 1988, we now have an installed base of more than 1,000 units under our holistic lithographic solutions, which include lithography systems, computational lithography software, optical and e-beam metrology and inspection solutions.

With the growth of our China business, the number of employees has risen steadily. In 2017, we had less than 500 employees. The total number of employees has since grown to over 1,600. Moving forward, we will continue to expand our team to support the development of our growing business in China.

In addition, ASML is devoted to social responsibility, especially in science education. For seven consecutive years, we have been supporting the Shanghai Future Engineers Competition, helping to develop awareness and interest in science among primary and secondary school students and promoting the development of future scientific and technological talents.

KHAOU: As an ever-old and ever-young country, China has enormous potential for economic development and plenty of growth momentum. Against the backdrop of great uncertainty concerning global situations, China has seized the new wave of technological revolution and industrial transformation and established an efficient and open global industrial supply chain system.

For many years, Dassault Systemes has firmly rooted itself in China. We possess a long-term strategy and will make long-term investments in the Chinese market. We have closely cooperated with leading enterprises in different industries in China and introduced many successful practices, including innovation centers.

China has always been a very important market for Dassault Systemes. Since it entered China nearly 20 years ago, the company has witnessed China's rapid development along with its numerous domestic customers, as the country continuously reaches new economic heights and higher levels of opening-up to the outside world. Despite the impacts of the pandemic, we have maintained double-digit business growth in the entire Asia-Pacific region in the past three years, with China as the biggest contributor.

HERZBERG: We introduced the concept of "digital delivery" to our clients. By going digital, they no longer need to print countless documents, but rather, everything is efficiently managed electronically. This not only saves resources, but also accelerates their project timelines significantly. It's a prime example of how Aveva supports China's industrial transformation — by making processes more efficient and sustainable through digitalization.

We've also helped advance sustainability with Yinson's floating production, storage and offloading vessels. Yinson, a global supplier of large-scale FPSO vessels, faced a crucial challenge — managing asset data effectively as they expanded. We collaborated closely, utilizing digital twin technology to acquire engineering and operational data across the asset's life cycle. This optimization has not only enhanced their operations, but also aligned with their goal of achieving net-zero emissions by 2050. This collaboration exemplifies how Aveva empowers companies in China to attain their sustainability objectives while enhancing efficiency and operational excellence.