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Unitree IPO shifts focus to future_我的网站

A |     Wave of listings highlights new growth engines     Chinese humanoid robot maker Unitree Robotics opened subscriptions for its initial public offering on the Shanghai Stock Exchange's sci-tech innovation board, or STAR Market, on Monday, as the market witnessed a broader economic shift with future industries expected to power the country's next wave of economic growth.     President Xi Jinping, who is also general secretary of the Communist Party of China Central Committee, said in an article published in June in the Qiushi Journal, a flagship magazine of the CPC Central Committee, that cultivating and developing future industries are of great significance for seizing the development initiative, developing new quality productive forces and improving people's quality of life.    Efforts should be made to vigorously foster first-class scientific, technological and high-tech enterprises that excel in core technologies and possess strong innovation capacities, Xi said.    For decades, China's economic expansion was powered largely by traditional industries, infrastructure investment and manufacturing scale. But the next wave of growth is increasingly expected to come from future industries, including embodied intelligence, future energy, quantum technology, brain-computer interfaces and 6G, which have been highlighted as key areas in China's 15th Five-Year Plan (2026-30).    Since leading semiconductor firm ChangXin Memory Technologies debuted on the STAR Market in late July, a number of companies including artificial intelligence chip developer Enflame Technology, semiconductor manufacturer Can-Semi Technology, commercial rocket maker LandSpace and AI chip company Kunlunxin have been moving toward potential listings.    Behind the wave of listings is not just a reshuffle of capital market preferences, but a transformation in the sources of future economic growth.    Hu Yongjun, secretary-general of future industries and platform economy research center under the State Information Center, said: "Developing future industries is a key move in driving industrial transformation and upgrade. Technologies that appear to be in an exploratory stage today could become engines of economic growth over the next decade or more."    He said that future industries will fuel China's economic growth through new trillion-yuan-level industries that will come about as emerging technologies transform into commercial applications, and traditional industries are upgraded by integrating technologies such as AI, digitalization and low-carbon solutions.    "More importantly, future industries are not simply about developing several new products. They could accelerate upgrades across an entire industrial chain, from core components to end-user applications," he said.    A humanoid robot illustrates this ecosystem effect. Behind a single robot are dozens of interconnected sectors, including AI models, chips, sensors, precision reducers, motors, batteries, new materials, industrial software and intelligent manufacturing equipment.    China's electric vehicle industry offers a similar example. Over the past decade, the rise of new energy vehicles has reshaped the global auto industry while driving rapid growth in power batteries, energy storage materials, intelligent driving technologies and automotive chips.    In addition, the Unitree IPO and other upcoming listings represent a broader reallocation of capital toward technologies that may require years of investment before generating large-scale commercial returns.    Xi also stressed efforts to improve fiscal and taxation policies, vigorously develop technology finance, and optimize government procurement and talent cultivation, introduction and utilization to foster a robust environment that encourages innovation.    Tian Xuan, dean of Peking University's Guanghua School of Management, said: "China is transiting from factor-driven growth toward innovation-driven development. Capital is moving beyond its traditional role of financing capacity expansion in mature industries and increasingly taking on the earlier-stage, longer-term uncertainty involved in building future industries."    As of June 2026, the STAR Market had attracted 609 hard technology companies, with total funds raised through IPOs and refinancing exceeding 1.37 trillion yuan ($203 billion). More than 40 listed companies on the market have also entered cutting-edge fields such as quantum technology, 6G and biomanufacturing.    The China Securities Regulatory Commission has also introduced a regular "green channel" mechanism for IPO financing and mergers and acquisitions involving technology companies in strategically important core technology areas.    For instance, Unitree Robotics moved rapidly through the listing process, taking less than four months to go from the application acceptance stage to approval, marking the fastest review under the STAR Market's preliminary review mechanism since its implementation.    "Amid the rapid development of AI, rising geopolitical tensions and a growing emphasis on strategic security, China needs to build a financial system better aligned with the development of new quality productive forces," Tian said.    "This requires expanding the supply of patient capital, improving market structures, enhancing policy predictability and reducing resource misallocation, thereby providing sustained and solid financial support for innovation," he added.                    。    8月26日讯 据英国媒体《每日镜报》报道，恩佐·费尔南德斯可能在夏窗最后阶段以1.2亿镑转会费加盟曼城。切尔西正为曼城提出报价而做准备，这将是曼城今夏最大的一笔交易。据说25岁的恩佐·费尔南德斯渴望转会曼城，这意味着他将与恩佐·马雷斯卡在阿提哈德重聚。切尔西希望在2023年为恩佐·费尔南德斯支付的1.06亿镑基础上盈利，还可能坚持要先找好替代者，再放他离队。切尔西曾与皇马中场卡马文加联系在一起，恩佐·费尔南德斯的转会交易会很复杂，但曼城准备推动交易成行。两周前切尔西为感兴趣俱乐部设定了1.2亿镑要价的严格截止期限，现已过期，但曼城准备在关窗前提交正式报价。恩佐·费尔南德斯上个赛季因与皇马暧昧一度遭遇队内停赛，他在切尔西一直感到不安定，周一晚他在英超比赛中替补出场时遭到富勒姆球迷的猛烈嘘声，这是对世界杯半决赛事件的回应。但有意思的是，切尔西球迷高唱恩佐·费尔南德斯的名字，主帅哈维·阿隆索本周也明确表示希望他的未来尽快明朗。阿隆索对BBC表示："在足球世界里，我对什么都不意外。我们拭目以待。我的愿望是我们能知道未来会发生什么，但要看这周的情况。"曼城在转会市场很活跃，已完成将萨维尼奥7500万镑卖给热刺的交易，还在与热刺就马尔穆什的转会进行谈判。罗德里、B席和赖因德斯已离队，尼科·冈萨雷斯可能被卖给纽卡。曼城已引进23岁的埃利奥特·安德森，即将从里尔签下布阿迪，马雷斯卡渴望与恩佐·费尔南德斯重聚。恩佐·费尔南德斯曾在马雷斯卡麾下赢得欧协联冠军、重返欧冠并夺得世俱杯冠军。

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Published on:02:58:40