最近，热浪席卷武汉。而7月12日举办的岚图用户之夜暨岚图FREE+上市发布会气氛同样炽热。战略产品FREE+上市15分钟锁单破万、全新知音 亮相、品牌主张焕新……在新能源战场刺刀见红的2025年，岚图以一场发布会展现了破局的锐气与底气。发布会后，岚图汽车科技有限公司CEO 卢 放与岚图汽车CBO、销售公司总经理邵明峰，接受了记者的专访，系统阐述了岚图如何将"用户型科技企业"理念从口号转化为订单与口碑。 以用户为中心，"听劝"是方法论 "岚图从成立之初起，就是要成为一家'用户型科技企业'。"对于这一自我定位，卢放一直反复强调。成立5年来，岚图"以用户为中心"的理念从未改变， 但实现路径不断进化。归根结底，用两个字形容就是——"听劝"。 而邵明峰则将用户沟通视为日常，他周末常去门店当销售。"当了销售就知道用户要的是产品功能带来的真实需求和情绪价值。"这种直接接触让岚图的 销售团队明白，真诚是最好的流量密码。而真诚的效果也体现在数据上，FREE+预售期间，门店日均客流从5-6批激增到了25批。 版 技术加速落地，效率决定产品竞争力 作为岚图与华为深度合作的里程碑产品，岚图FREE+全系标配华为乾崑智驾ADS4.0与 ...

北京作为全国科技创新高地，正以"独角兽之都"的引领姿态加速新质生产力发展。近日，金融街论坛系列活动CFO99研讨会在京举行，政产学研投各界代表 共议"独角兽的北京范式"，探索科技金融与硬科技企业深度融合路径。 数据显示，北京以115家独角兽企业、5949亿美元总估值稳居全国首位，成为名副其实的"独角兽之都"，企业覆盖人工智能、航天科技、集成电路等硬科技 领域。在资本赋能方面，北京有财政资金、引导基金、国资控股参股资本，引导社会资本共同投向独角兽企业，积极争取国家产业投资基金、中央单位投资 基金对独角兽企业的支持，并推动银行业金融机构为独角兽企业提供长周期、低成本的金融支持。例如，正在建设国际金融科技示范区的西城区出台"科创 十条"，设立考核周期长达15年的政府引导基金，推动"耐心资本"精准滴灌。 作为中国科技创新高地与国家金融管理中心，北京依托其独特的政策生态、人才集聚和资本赋能优势，正孕育出一批兼具技术深度与市场韧性的独角兽企业 集群。北京"独角兽"企业总量连续五年居全国首位，其成长轨迹和进化逻辑已经沉淀为具有普遍参考意义的北京范式。这离不开政府等多方面的政策支持， 从中关村先行先试到自由贸易试验区政策迭代 ...

蓝思科技为全球领先的智能终端精密制造解决方案提供商，尤其在消费电子、智能汽车及新兴科技领域拥有较强的技术实力和市场地位。在此次招股中，蓝 思科技获得资金簇拥，香港公开发售获得462.76倍的认购，全球发售净筹约46.94亿港元。 港交所的锣不够敲了！7月9日，港股IPO市场迎来狂欢日，5家新贵集体敲钟。 当日在港交所挂牌上市的企业多达5家，现场热闹非凡。这5家企业分别为：蓝思科技(06613.HK)、极智嘉-W(02590.HK)、大众口腔(02651.HK)、 FORTIOR(01304.HK)以及讯众通信(02597.HK)。 | 代码 | 名称 | 米幅。 | 现价 | 上市日期� | | --- | --- | --- | --- | --- | | 1 06613 | 蓝思科技 | +3.41% | 18.800 | 20250709 | | 2 02651 | 大众口腔 | +15.75% | 23.150 | 20250709 | | 3 02597 | 讯众通信 | -0.37% | 13.500 | 20250709 | | 4 02590 | 极智嘉-W | -0.71% | 16.680 ...

以科技金融助力产业整合，并购贷正在发挥越来越重要的作用。近日，汉嘉设计与兴业银行杭州拱墅支 行签订《并购借款合同》，申请并购贷款不超过3.22亿元，贷款期限10年，用于支付收购苏州市伏泰信 息科技股份有限公司（下称"伏泰科技"）51%股权的部分转让价款。 今年3月，国家金融监督管理总局启动科技企业并购贷款试点政策，针对"控股型"并购将贷款占比上限 从60%提升至80%，贷款期限从"一般不超过7年"延长至"一般不超过10年"，进一步为科技企业并购提供 有效金融支持。试点落地3个月以来，随着并购重组市场日趋活跃，一批"硬科技"公司加速产业整合步 伐，交易中利用并购贷款额度为亿元级别的案例明显增多。银行紧盯并购重组这一新机遇，着力提高并 购方的资金使用效率，但其风控及获客能力也迎来考验。 科技企业并购重组活跃 并购贷款成重要资金来源 浦发银行总行科技金融部相关人士表示，根据监管要求，商业银行的并购贷款业务通常在并购方企业确 认并购标的之后介入，并结合并购标的具体情况开展贷款风险评估。但并购交易从双方接触、达成交易 到并购后的整合，耗时较长，过程中有一些不确定性，需要包括银行在内的生态伙伴全力支持。 随着《关于深化上 ...

Core Viewpoint - The Hong Kong stock market is experiencing a surge in technology company listings, with many firms possessing core technologies and global advantages flocking to the Hong Kong Stock Exchange (HKEX) [1][2]. Group 1: Technology Companies Listing Trend - A variety of technology companies, including Black Sesame Intelligence, Horizon Robotics, and CATL, have either successfully listed or are preparing to list on the HKEX, covering sectors such as artificial intelligence, semiconductors, and new energy [2]. - The HKEX has introduced a "Tech Company Special Line" which has received positive feedback, indicating strong interest from technology firms in listing [2]. Group 2: Market Transformation - The HKEX is evolving into a global hub for technology capital, connecting thriving mainland tech companies with global investors, thereby enhancing its strategic position in the international financial landscape [1][3]. - The listing of CATL, a leading global new energy company, is seen as a milestone for the Hong Kong capital market, showcasing the HKEX's ability to attract international-level tech firms [3]. Group 3: Institutional Optimization - The surge in technology listings is attributed to continuous institutional optimizations by the HKEX, which have created a more favorable financing environment for tech companies [4][5]. - Recent reforms, such as allowing dual-class shares and enabling unprofitable biotech firms to list, have attracted numerous mainland enterprises to the HKEX [4]. Group 4: Positive Interaction with Industry Capital - The successful listing of CATL has encouraged other tech companies planning to list in Hong Kong, indicating a more rational valuation environment for leading tech firms [5]. - The HKEX is becoming a "super connector" for global tech capital, facilitating a positive interaction between tech companies and the capital market [5][6]. Group 5: Long-term Market Appeal - The stable financing environment of the HKEX aligns with the long-term development needs of tech companies, especially in light of global economic recovery and unique issuance rhythms [6]. - The HKEX is positioned to remain an important bridge for mainland tech companies seeking international capital, particularly amid increasing geopolitical uncertainties [6].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced the resumption of the listing of loss-making technology companies, which is a significant move aimed at supporting the development of the capital market and high-tech industries [1][2]. Group 1: Market Context - Historically, the Chinese securities market required companies to be profitable for three consecutive years before listing, a rule that was in place until 2019 when the Sci-Tech Innovation Board (STAR Market) was established [1]. - The STAR Market allows unprofitable companies to list under certain conditions, leading to 54 loss-making companies successfully going public, with 22 of them achieving profitability afterward [1][2]. Group 2: Regulatory Adjustments - The resumption of listings for loss-making companies comes after a period of regulatory tightening due to market volatility and investor concerns over high IPO rates, particularly for unprofitable firms [2][3]. - New policies will include specific industries such as artificial intelligence, commercial aerospace, and low-altitude economy as eligible for listing under the unprofitable criteria, expanding the selection of "hard tech" companies [3]. Group 3: Support and Oversight - The introduction of a "growth layer" for the STAR Market will include loss-making companies, with tailored policies to enhance support and regulation, ensuring investor protection [3][4]. - Companies will now be encouraged to conduct financing through share issuance to existing shareholders during the IPO review process, which serves as a confidence indicator for potential investors [3]. Group 4: Future Outlook - The policy aims to allow loss-making companies that meet basic public company criteria and show potential for future profitability to list, aligning with national strategic goals and providing necessary funding support [4].

6月24日，东风汽车旗下高端智慧新能源品牌岚图FREE+在武汉开启预售。该款车型凭借技术创新 与用户思维的深度融合，预售开启18小时小订量即突破1万台。 岚图汽车相关负责人介绍，今年1月至5月，岚图汽车销量达46075辆，同比增长85%。此次岚图 FREE+投入超5亿元，优化提升1366项产品功能，在外观设计、舒适性配置、操控性能与智能化领域均 取得突破，是该品牌在20万辆新起点上的重要布局。 在新能源产业全面竞争时代，岚图汽车意识到，新时代的车企应从制造端向用户端全面转型。围 绕"用户型科技企业"的战略定位，该品牌搭建起集研发、营销、服务的用户运营生态。从每年举办 的"用户之夜"，到专属用户社群运营，再到"岚二代"亲子活动、用户共创LOGO等文化内容打造，正在 构建一个有温度、有粘性的品牌形象。 今年以来，岚图汽车更是以用户为中心，加快技术创新、产品迭代和渠道布局，提升服务质量。尤 其在技术创新层面持续突破，实现5C超级快充、800V碳化硅高压平台量产应用，以技术创新为用户体 验赋能。 "从岚图梦想家在高端新能源MPV市场的持续热销，到岚图 FREE+预售即破万的市场反响，岚图以 用户为中心，与用户共创的产 ...

以科创板适用于第五套标准上市的20家公司为例，9家公司近三年营业收入复合增长率超过40%，反映 出这些公司抢占市场的能力突出，产品认可度高，商业化潜力巨大。 市场资金对于优质未盈利企业也给予了越来越大的包容度。今年以来，上述20家公司中，19家公司跑赢 科创50指数，14家公司年内股价涨幅超过20%，6家公司超过了50%。2025年一季报前十大股东中，20 家公司里17家出现了基金的身影，4家公司获社保基金持仓，机构投资者对这些企业的成长性和投资价 值的认可度不断提高。 随着政策导向再次走向多元包容，优质高技术含量未盈利企业的投资逻辑愈发清晰。除了医药生物外， 人工智能、商业航空、低空经济等政策提及的领域也将迎来资本市场资金支持，助力龙头企业抓住发展 的黄金机遇，加速走向成熟。 科创板创立之初就设立了多元包容的上市标准，截至目前，科创板共有54家IPO时未盈利的企业上市， 其中20家采用了第五套上市标准，这些公司的上市时间集中在2020年至2022年之间，2023年下半年开始 第五套上市标准进入实质性暂停，折射出市场对于未盈利企业的价值判断一度存在较大分歧。 长期以来，盈利能力、市盈率是A股投资者评判上市公司 ...

2 0 2 5年6月2 2日，港交所官网正式披露了北京极智嘉科技股份有限公司（下称"极智嘉"）的聆 讯后资料集。 这意味着， 极智嘉即将成为"全球仓储AMR（自主移动机器人）第一股"。 据统计，在过去这一个月内，仙工智能、乐动机器人、卧安机器人等一系列国内机器人产业 链公司纷纷向港交所递交招股书，加上本次通过聆讯的极智嘉与稍早前交表的云迹科技，以 及已先后成功在港挂牌上市优必选、地平线机器人、越疆科技等，港股俨然已形成了一股"机 器人企业上市热潮"。 其中， 今年以来，优必选、地平线和越疆科技这三家机器人企业分别实现了约4 0%、8 0%和 1 3 5%的涨幅，可谓颇受市场追捧。 值得注意的是，就在一周前，摩根士丹利分析师发布研究报告称，2 0 2 4年中国在全球机器人 市场所占份额约4 0%；未来四年，中国机器人市场规模预计以2 3%的复合年增长率从2 0 2 4年 的4 7 0亿美元增长至2 0 2 8年的1 0 8 0亿美元，四年时间将翻超过一倍，进一步巩固中国在全球 机器人领域的统治地位。 可以说，中国的机器人企业正在重塑中国乃至全球的制造业，未来将对社会产生更深层次的 影响。 "全明星阵容" 领衔港 ...

Core Insights - Over 60% of Chinese fintech companies have intentions to expand internationally, with 30% already successfully doing so, highlighting China's role in leading the globalization of fintech [1][2] - China's fintech market has reached approximately $5 trillion, accounting for over 40% of the global total, with around 10,000 fintech companies operating in the country [2][3] Group 1: Global Positioning - China is recognized as the fastest-growing country in fintech, with significant market scale effects [2] - The country has joined international cooperation mechanisms like DEPA and CPTPP, enhancing its fintech companies' global influence and soft power [2][3] Group 2: Challenges and Strategies - Despite notable achievements, Chinese fintech companies face external challenges such as geopolitical uncertainties and high compliance costs [4][5] - Zhang Shenfeng proposed seven strategies for overcoming these challenges, including joining high-level international organizations and balancing innovation with regulation [4][5][6] Group 3: Localization and Collaboration - Emphasis on optimizing localization strategies to ensure companies "take root" in foreign markets rather than merely exporting technology [5][6] - Encouragement for fintech companies to collaborate with domestic entities for a more substantial collective international presence [5][6] Group 4: Target Markets and Talent Development - Recommended focus on regions like Hong Kong, Southeast Asia, the Middle East, and Africa for future expansion [6] - Highlighted the need for cultivating international talent in fintech to address structural shortages and enhance global governance [6]