“Which investor to have coffee with next” seems to be a daily question for every entrepreneur. In San Francisco, often called the dreamland for investment and entrepreneurship, there are several well-known coffee shops where entrepreneurs and investors meet. For instance, the Starbucks near Stanford University on Sand Hill Road is a default spot for entrepreneurs to meet with VCs. Similarly, at 3W Coffee in Beijing’s Zhongguancun, one can always run into various entrepreneurs and investors. Although I am passionate about “drinking” all kinds of coffee, on my “entrepreneurial” journey, I never had to worry about meeting different investors for coffee every day.

“I Changed My Career”
I work in pharmaceutical R&D, an extremely complex systemic engineering effort with highly specialized divisions of labor. My previous experience was focused entirely on early-stage drug discovery—simply put, finding chemical molecules that basically meet the requirements for drug development. The later stages, such as formulation process, clinical research, and even commercialization, were completely outside my scope. However, after traveling halfway around the world, my first task after joining Hengdian Group’s Purapharm in 2015 was to lead the company’s first international formulation project targeting stringently regulated overseas markets.

The challenge I faced was not only my near-zero experience in formulation research but also the fact that this was a new business area for the company. The R&D team had to be built from scratch, and supporting facilities were still only on paper. The only thing that seemed abundant was headquarters’ financial support for the project. Clearly, this was undoubtedly an entrepreneurial venture for me, with the only difference being that the startup funding was already in place.

Fortunately, after years of hard work by the team, the first product of this project successfully gained regulatory approval and was launched in overseas markets. This was my first entrepreneurial experience in Hengdian. When friends asked me, “What are you doing in Hengdian?” I half-jokingly replied, “I changed my career.”

Establishing an Overseas Subsidiary
To support the international formulation project, the company decided in 2016 to establish its first overseas subsidiary in a certain market. Although the company’s business development (BD) efforts for some products were already in full swing in the region, it had never set up an overseas operational entity there. After considering various factors, including local regulations, management assigned me the responsibility of establishing and operating the subsidiary.

As mentioned, my background had always been in R&D. Establishing and operating an overseas subsidiary fell entirely outside my expertise, as it involved corporate operations. Nevertheless, to advance the international formulation project, I gladly accepted the challenge. I reached out to friends for help, seeking recommendations for local legal teams familiar with company registration, evaluating the advantages and disadvantages of different registration locations, and finally building a suitable operational team based on business needs. After nearly three months of effort, the subsidiary was successfully established and began operations. The setup of this overseas company laid the foundation for the smooth progress of the international formulation project and the future commercialization of products. For a scientific researcher like me, establishing and effectively maintaining an overseas company was undoubtedly another entrepreneurial journey.

Rebuilding the Research Institute
Since the second half of 2015, China’s pharmaceutical industry has undergone unprecedented changes, with the industry fully recognizing the decisive role of R&D capabilities in a company’s future development. In 2017, as the company’s integration plans progressed and its future development strategy became clearer, it decided to reorganize the Drug Research Institute and establish its main body in a region concentrated with pharmaceutical R&D resources. As the lead of the R&D team, I naturally took on the task of rebuilding the research institute.

Although I had undergone several previous self-transcending “entrepreneurial” experiences, rebuilding the research institute was clearly a higher-level challenge for me. The two primary issues were location and organizational structure.

In the Yangtze River Delta region, the hottest areas for pharmaceutical R&D are mainly concentrated in Shanghai and Suzhou. After more than two months of evaluating multiple regions and parks, we finally selected the Medicine Port Town in Xiasha, Hangzhou, based on the company’s actual needs. For the organizational structure of the research institute, we needed to fully consider the company’s future plans in pharmaceutical R&D while ensuring that the departmental setup not only met the characteristics of pharmaceutical R&D but also effectively improved R&D efficiency. To achieve this, we studied several well-known domestic and international drug research institutions and proposed an organizational structure suitable for the company’s business needs, which was approved by management. This was followed by recruiting key team members, designing and outfitting laboratories, purchasing instruments and equipment, and establishing various rules and systems. With the full support of the group and headquarters, the research institute was successfully launched by the end of 2018 as planned.

Later, when I discussed with friends the processes of finding a location, building a team, designing blueprints, constructing laboratories, purchasing equipment, and managing project initiation and advancement, everyone agreed that this was a typical entrepreneurial process. The only difference was that I didn’t need to meet with various investors for coffee every day, attend meetings of all sizes, or conduct roadshows.

Heart Toward the Sun, Lifelong Growth
As the famous Silicon Valley entrepreneur and investor Ben Horowitz said in his book The Hard Thing About Hard Things, “During my time as CEO, I’ve had exactly three peaceful days. The rest of the eight years were filled with challenges.”
Entrepreneurship is hard, and entrepreneurs are often lonely. For entrepreneurs, it is particularly important to stay grounded, maintain an optimistic mindset with their “heart toward the sun,” and adopt a “l(fā)ifelong growth” mentality.

In the future, we will continue to leverage the group and company as our entrepreneurial platform, maintaining an “entrepreneurial” mindset. We will remain confident, overcome challenges, take on heavy responsibilities, break through difficulties, and scale new heights. On the fertile soil of Hengdian, we will continue to “entrepreneur,” and together with outstanding teams, “create” great enterprises through perseverance and innovation.

“Docter Teng, which do you think is harder: conducting scientific research or managing a subsidiary?” People occasionally tease me with this question.

Indeed, in China, a Ph.D. is often seen as a symbol of expertise, closely associated with academic research and traditionally labeled as “bookish.” Although I have spent many years in R&D management, taking on the role of managing a production subsidiary represents a career shift from the technical field to pure management. This decision was not only a professional leap but also a journey of personal psychological exploration.

I joined Purapharm in July 2019, after working for 11 years at another well-known pharmaceutical company. Initially, my task was to build a biotech R&D platform, enhance biotechnological R&D capabilities, and optimize the product portfolio. With the support of company leadership, we established a 2,000-square-meter biotech R&D laboratory within two years, and the R&D team grew from 20 to nearly 70 people. In February 2022, I took on the role of General Manager at Zhejiang Purapharm Biotechnology, a company specializing in the R&D and production of biologics during a transition period. My mission was to quickly turn around its performance and plan its future product portfolio. After a year and a half of磨合 (adjustment and磨合), the joint efforts of the team and myself have led to significant improvements in both operational performance and management atmosphere. I am confident that, with the team’s hard work, Zhejiang Purapharm Biotechnology will become a key player in the field of synthetic biology, creating new growth opportunities for Purapharm.

Many people ask me how I managed to quickly adapt to the role and integrate into the organization. I believe it is Purapharm’s unique culture of “Happy Learning, Happy Exercise, Happy Working” that helped me find my footing. Whenever I interact with clients or friends, they often compliment my energetic demeanor, and I take pride in sharing my running achievements. At Purapharm, running has not only changed my image but also helped me reduce fatty liver. Of course, the value of running goes beyond health—it has also injected vitality into team cohesion. As the saying goes, “If you want to go fast, go alone; if you want to go far, go together.”

However, the path of management is full of twists and turns. As a technical professional, I was accustomed to focusing on details and solving problems. However, a manager needs to broaden their perspective from a narrow technical focus to a holistic view. This means balancing team goals, resource allocation, and interpersonal management. Gradually, I shifted my attention from specific technical details to strategic planning and relationship management.

The transition from technology to management is a profound psychological journey. Although, within China’s cultural context, I may face specific perceptions and expectations, I firmly believe that through continuous effort and learning, I can overcome these challenges and become an outstanding manager. This journey will also見證 (witness) my growth, progress, and success alongside the company.

After graduating, I joined the API Technical Center of Apeloa Pharmaceuticals. Starting with just two people working on one project, and under the guidance and support of departmental leadership, our team has grown over the past four years to eleven members now managing five active pharmaceutical ingredient (API) projects. When I first entered the field of API development, I thought the barrier to entry was low—believing a basic understanding of organic synthesis would suffice. However, as I delved deeper into the projects, I realized that organic synthesis is only the foundation of API process research.

For the development of API molecules, we must possess the ability to conduct literature research and master route design and organic synthesis—this is the foundation. Next, to ensure product quality, we need to learn how to interpret various analytical spectra, strictly control quality issues, and understand regulatory requirements for API registration—these are the standards. Finally, to achieve successful scale-up production, we must familiarize ourselves with basic engineering and equipment knowledge to ensure smooth execution in the plant—this is the application.

The transition from student to professional may happen quickly, but learning about APIs is a long process that requires patience and the steady accumulation of knowledge. I’ve been fortunate to meet many supportive mentors in the department who have greatly helped me grow, enabling me to adapt to my role and develop myself more rapidly.

Apeloa & Me
The corporate culture of “Happy Learning, Happy Exercise, Happy Working” and the family-like atmosphere make me feel at home here. The company’s talent development strategies allow employees to fully realize their value. Moreover, as a large publicly listed company, Apeloa’s comprehensive system is unmatched by others. From project initiation and evaluation, intellectual property assessment, and process development, to scale-up, quality studies, and regulatory affairs—Apeloa’s well-structured departments and complete talent resources provide a significant advantage. Here, I can build a robust knowledge system and become a better version of myself.

“Are you in Hengdian or Shanghai? Will you be coming to Hengdian next week?” These are questions I’m frequently asked.

In July 2021, I joined Shanghai Apeloa Intelligent Creation, and since then, both my lifestyle and work approach have undergone dramatic changes. After completing my postgraduate studies, I joined a leading CDMO company, working in R&D analysis with an easy 4-kilometer daily commute. But after joining Apeloa, my one-way commute extended to 40 kilometers. And when I began leading the team in Hengdian, that number skyrocketed to 400 kilometers. Transitioning from managing a small team to overseeing a large team of more than 170 people, my role and responsibilities have taken a quantum leap.

People often say that time pushes us forward, but over the past three years, I’ve felt as though time has been urging me to run. I chose to step out of my comfort zone and continually challenge the limits of my capabilities. As I read in The Miracle Morning: “Making a choice means deciding, planning, and taking action.” Managing a larger team and taking on greater responsibilities have not only made work the center of my life but also required me to strike a balance between family and my children. Without the unwavering support of my family, I couldn’t have faced these challenges alone.

Working overtime on weekdays has become the norm. Even during the pandemic, I was confined to the campus for over two months, evolving from a novice driver to someone capable of handling cross-province business trips independently. Throughout this process, I’ve not only put in hard work but also grown immensely. In the past, I only knew how to execute projects; now, I’ve learned how to guide projects, communicate effectively, manage talent, set departmental goals, make decisions, and continually expand into new areas.

Initially, I was drawn in by one sentence: “We need you to take charge of a new laboratory. Right now, it’s a blank slate. Are you willing to accept this challenge?” At the time, I wasn’t sure if I was up to the task, but the rapid development of Apeloa’s CDMO business in recent years has turned my initial uncertainty into reality—the new Laboratory Building 8 at the Shanghai R&D Center is already in operation. Now, I’m facing even greater challenges than before.

Completing these tasks in such a short time would have been impossible without the help of leaders and colleagues, and the support of every member of my team. I look forward to the next three years, where my team and I can contribute even more to the company. The process of pursuing one’s goals is also the process of shaping oneself. Thank you, Apeloa, for giving me this opportunity to become a better version of myself.

“Why did you choose to return to Hengdian?” This is the question I’ve been asked most often since my decision to move back.

Hengdian is where I grew up. Through the efforts of generations, it has evolved into the “Oriental Hollywood” and the “Magnetic Capital of China,” home to six listed companies. As a native of Hengdian, I take great pride in this accomplishment. Contributing to the development of my hometown became the strongest motivation for my return.

After graduation, I moved from the internet industry to education. Three years of working away from home led me to reflect deeply on my career direction. Ultimately, I followed my heart and chose the path of finance. It was at this time that Apeloa extended an olive branch to me. Without hesitation, I joined the company in 2020.

In the beginning, I encountered many challenges in my financial role. I was unfamiliar with financial systems and the company’s internal controls. Fortunately, my supervisor designed a growth plan for me, which included two rotations within a year—from cost accounting and sales accounting to tax accounting. Through this process, I gained a deeper understanding of the company’s operations and financial practices. My leaders, mentors, and colleagues were incredibly generous with their support. I still remember the first time I drafted a due diligence report: my leader patiently explained every key point, entrusted me with conducting value analysis, and personally guided me through revisions. This experience made me feel the care of the team and built the confidence I needed to overcome subsequent difficulties and challenges.

When I realized my professional knowledge had gaps, my leader encouraged me to pursue further learning. Over four years, I became a Certified Public Accountant, a Tax Advisor, and a Certified Asset Appraiser. This solid expertise has allowed me to excel in my work and take on greater responsibilities, such as building valuation models, conducting internal training, and participating in due diligence projects. Each project has pushed my growth from a basic financial accountant toward a more specialized management accountant.

Looking back, though my path had its twists and turns, I was fortunate to join Apeloa and become part of an exceptional team. The trust the team placed in me has inspired my own growth, and I look forward to further realizing my potential while growing together with Apeloa.