
一 | 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.
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二 | 因为拍摄“御剑飞行”走红的博主“范十三”又有新创作了!8月24日,“范十三”发布视频称,飞行电动车已完成初步测试。 “飞行电动车,我们的基础功能跟载人飞行器差不多,这个项目筹备有半年左右了,未来我们还有一个更大的计划。”8月25日,“范十三”接受封面新闻记者采访时表示。 熟悉“范十三”的朋友可能都知道,这位“御剑”博主测试新技术时,一般都选在位于成都郫都的郊区农田。去年底,“万剑归宗”名场面就拍摄于三道堰青杠树村,拍30多把飞剑掠过头顶时,也引得正在农田劳作的村民抬头围观。

三 |
“能不能让村民们都体验一把飞行的快乐?”这是“范十三”飞行电动车灵感的来源。 这台正在研发中的飞行电动车,是团队承前启后的过渡项目:继承了载人飞剑的技术,采用纯电涵道动力的全新飞行构架。 “考虑到安全性的问题,目前我们采用了48个涵道动力单元,后续升级版本将扩容至60个。”“范十三”介绍,纯电涵道动力设计,既能保护驾驶者,也能避免高速旋转的桨叶误伤周边人员。 对这支草根研发团队来说,测试中的意外早已是日常。此前载人飞剑研发阶段就经历过无数次试错,这次飞行电动车的测试过程也同样充满挑战。
就目前发布的视频来看,“范十三”的最新创作已初步成功。他向封面新闻记者透露,目前飞行电动车仍在持续优化中,团队接下来还将突破技术瓶颈,彻底解锁电动飞行车的自由飞行能力。 “范十三”还表示,完成飞行电动车的研发后,团队还计划打造可以承载多人的“飞船”。从站着御剑飞行的“载人飞剑”,到能稳稳落座的“飞行电动车”,这支来自民间的研发团队,把藏在武侠梦里的飞行幻想,一步步变成了触手可及的现实。
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Published on:07:20:39
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