从1985年深圳科技工业园在滩涂奠基，到如今具有全球前沿科技和未来产业"风向标"意义的西丽湖国际 科教城，广东经济"第一区"——深圳南山完成了从"三来一补"加工区到全球创新生态范本的跨越。而 今，这条强势崛起的"独角兽走廊"背后，是硬科技突围与生态进化交织的双重奏，更蕴藏着中国创新从 政策驱动到生态自循环的深层逻辑。当我们将"独角兽走廊"的观察视角落到走廊内的每一个独角兽企业 上，不难发现这些成立于2000年之后、价值10亿美元以上的非上市企业的特点:年轻、成长快、市场潜 力巨大，他们的迅速成长与突围，离不开这片区域的改革创新力度，政策服务保障与产业创新生态。 创新沃土 "独角兽走廊"企业迅速成长与突围，离不开改革创新力度、政策服务保障与产业创新生态。 南宣供图 从制度破冰到服务颗粒度的极致 2014年，随着"大众创业、万众创新"的热潮席卷华夏大地，作为全国首批双创示范基地的南山区开始高 姿态向世界展示其创新实力，这也为"独角兽走廊"的诞生提供了良好的土壤，事实上，南山的创新密 码，早就写在"敢为天下先"的改革基因里。 1979年，蛇口工业区的开山炮声不仅炸响了中国改革开放的第一声，更埋下"时间就是金钱，效率 ...

Group 1 - Since July, multiple technology-themed funds have ended their fundraising early, indicating a growing enthusiasm for subscriptions and a shift towards technology sectors [1] - The early closure of funds reflects a preference for growth assets and highlights the technology innovation sector as a core direction for medium to long-term capital allocation [1] - In July, the China Ocean Fund announced the early closure of its technology innovation mixed fund, marking it as the seventh technology-related fund to end fundraising early this month [1] Group 2 - Experts attribute the "lightning fundraising" phenomenon to several driving factors, including significant policy support and industry trends that enhance long-term confidence in hard technology sectors [2] - Many technology-themed funds have preset fundraising caps, which, in the context of high subscription enthusiasm and rapid capital inflow, leads to early achievement of target sizes [2] - The valuation attractiveness of technology stocks has improved after prior adjustments, prompting some fund companies to accelerate their investment through early fundraising closures [2] Group 3 - The liquidity environment has been improving, with the People's Bank of China releasing liquidity through significant reverse repurchase operations [3] - Regulatory support for the funding environment and changes in macro fundamentals are expected to enhance investor risk appetite [3] - The technology innovation sector is seen as having significant investment value, particularly in rapidly growing areas like artificial intelligence and advancements in biomedicine [3]

Group 1 - The 2025 China (Shenzhen) Unicorn Enterprise Conference opened on July 17, showcasing Shenzhen as the "Chinese Technology Capital" with a focus on "hard technology" [1] - The conference was guided by Shenzhen's Industrial and Information Technology Bureau and attracted numerous "hard technology" projects for roadshows, drawing significant attention from the capital market [1] - Key activities included a financing roadshow for future unicorn enterprises and a visit to the "robot street" in Longgang District, where nearly 20 unicorn and potential unicorn companies shared their "hard technology" projects [2] Group 2 - On July 18, the conference will host the release of the "China Unicorn Enterprise Report 2025" and the "Shenzhen Unicorn Enterprises and Gazelle Enterprises Research Report 2025," providing quantitative analysis and insights into the growth patterns and industry trends of unicorn enterprises [2] - The event will also feature a series of activities including cooperation negotiation meetings, overseas exchange meetings, and discussions on listings and mergers for unicorn enterprises, with participation from over a hundred unicorn companies and various investment institutions [2]

Core Insights - Hangzhou Gaopu Imaging Technology Co., Ltd. has recently completed its first round of financing amounting to several tens of millions of yuan, led by Haitong Innovation Private Equity Fund Management Co., Ltd. and Guangdong Gongye Technology Co., Ltd. [2] Company Overview - Established in 2019 and originating from the Hangzhou Advanced Research Institute of the Chinese Academy of Sciences, Gaopu Imaging is the only team in China capable of manufacturing hyperspectral cameras across the full spectrum range of 200 nm to 12 μm. The company has evolved from a single hardware supplier to a "hardware-algorithm-data-application" closed-loop solution provider, achieving mass delivery in low-altitude remote sensing, industrial inspection, and medical imaging, with domestic shipment volume ranking first for several consecutive years [3]. Financing Purpose - The funds from this round of financing will be primarily used for three purposes: 1. Continuous iteration of hyperspectral cameras and complete systems to further reduce weight and cost 2. Expanding domestic and international channel networks to accelerate the standardized product's large-scale replication in environmental monitoring, resource recycling, and food testing industries 3. Expanding the data and AI team to shorten the project implementation cycle for clients, enabling faster conversion of "visible spectra" into "affordable data" [4]. Investment Rationale - Haitong Innovation's investment director believes that Gaopu Imaging possesses comprehensive self-research capabilities from chip to complete machine, having established benchmark cases in low-altitude economy and industrial inspection, with its domestic shipment volume validating its commercialization speed. The founder and general manager of Guangdong Gongye Technology noted strong business complementarity, with plans to jointly launch AI + spectral solutions in resource sorting scenarios to expand into global markets [5]. Investment Ecosystem Perspective - The founder of Shandao Venture Capital Network highlighted that recent policies from the National Development and Reform Commission supporting the integration of high-end equipment and artificial intelligence have been rapidly responded to by local governments, with cities like Hangzhou and Shenzhen establishing special funds. Gaopu Imaging, as a typical example of "hard technology + scene landing," aligns with national encouragement directions and meets venture capital institutions' demands for both technological depth and commercialization speed. Fund managers are urged to continue introducing industrial resources to invested enterprises, while investors are called to exercise patience with early-stage hard technology, allowing scientists time to transform "a beam of light" from the laboratory into "a ray of light" that changes the industry [6].

Fund Raising Events - Zhongke Chuangxing Leading Venture Capital Fund completed its first close with 2.617 billion yuan. 70% of the funds will be invested in early-stage hard technology projects, focusing on the "AI+" field [3] - Fujian Industrial Fund initiated and established its second specialized and sophisticated fund of the year, with a scale of 600 million yuan, supporting specialized and sophisticated SMEs in the new energy field [4] - Jiangsu Marine Economy Equity Investment Fund, with a scale of 2 billion yuan, is publicly selecting industrial sub - fund management institutions to support the development of marine strategic emerging industries in Jiangsu [5] Large - scale Financing - Zhongshu Ruizhi completed a 200 million yuan A+++ round of financing, with funds for R & D and market promotion to strengthen its position in AI intelligent agent infrastructure and industry implementation [6] - Weimou Biotech completed a 140 million yuan D2+ round of financing, focusing on R & D of ophthalmic innovative drugs [7] - CertifID completed a $47.5 million C - round of financing, using funds to expand product functions and strengthen its market leadership in wire transfer security [9] Policy Focus - Henan encourages listed companies to carry out mergers and acquisitions to transform and upgrade and gather resources in new productive forces fields [10] - Beijing aims to build an internationally influential "Quantum Constellation" new - quality industrial ecological community by 2027 [11]

Group 1 - The Chongqing Science and Technology Bureau has announced the second batch of projects to be supported by the 2025 Seed Investment Fund, with two projects from the Mingyue Lake hard technology initiative receiving a total of 1.9 million yuan in funding [1] - A total of 46 projects have been funded by the Seed Investment Fund, amounting to 47.85 million yuan, with 17 projects incubated at Mingyue Lake, representing 37% of the total [1] - The Seed Investment Fund focuses on early-stage investments in hard technology projects, particularly those that convert new quality achievements and involve key technologies and talent [1] Group 2 - The "Next-Generation Shock Absorption Product" project is developed by Chongqing Huaxia Yilang Technology Co., Ltd., which is incubated by the Beijing University of Technology Chongqing Research Institute, featuring a team led by professors and doctors [2] - The "Digital Low-altitude Traffic Service Platform," also known as "Yuekuai Fei," is developed by Xingkong Shuzhi Technology (Chongqing) Co., Ltd., focusing on low-altitude economic services and providing functionalities such as airspace visibility and flight approval [2] - The company has also launched the "Remote Digital Management System for Low-altitude Take-off and Landing Fields (VSS)," which supports unmanned and high-frequency take-off scenarios [5] Group 3 - The Mingyue Lake High-tech Industry Research Institute aims to build a high-tech industry base in Southwest China, focusing on enhancing funding chains and fostering global cooperation to facilitate the efficient transformation of technological achievements [5]

Core Viewpoint - The Science and Technology Innovation Board (STAR Market) has reached a significant milestone with 589 listed companies, serving as a "testbed" for capital market reform and a core hub for technological innovation in China [1] Group 1: STAR Market Achievements - Over six years, the STAR Market has continuously led institutional innovation, enhancing the inclusiveness and adaptability of services for new productive forces, fostering a nurturing environment for "hard technology" enterprises [1] - The STAR Market has implemented a registration system reform that breaks traditional listing barriers and has optimized its institutional framework through the "STAR Market Eight Articles" and "1+6" new policies [1] - The STAR Market has remained committed to its mission, aligning with national strategic deployments, and has empowered enterprises to achieve high-quality development through technological innovation [1] Group 2: Upcoming Summit - The "2025 China Science and Technology Innovation Leaders Summit and STAR Market Sixth Anniversary Forum" will be held on July 25, with participation from government officials, regulatory bodies, and leaders from STAR Market enterprises to discuss policies, technological innovation, and industrial development [2] - The summit will feature keynote speeches, high-level dialogues, and roundtable discussions on popular topics such as mergers and acquisitions and international expansion, along with two parallel forums focusing on integrated circuit industry development and the connection between listed companies and primary market science and technology enterprises [2]

Group 1 - The core event is the acquisition of 63.62% stake in Shanghai Wei New Material Technology Co., Ltd. by Shanghai Zhiyuan New Technology Co., Ltd. for 2.1 billion yuan, marking a significant reverse acquisition in the robotics industry [1] - This acquisition signifies a shift in capital market dynamics, granting "hard tech" companies like Zhiyuan Robotics greater influence and recognition in capital operations, moving away from reliance on IPOs or being acquired [1] - Zhiyuan Robotics has completed 10 rounds of financing in two years, leading to rapid valuation growth and the establishment of joint ventures, thereby creating a technological application ecosystem [1] Group 2 - The success of this acquisition provides a new competitive paradigm for startups in emerging sectors, emphasizing the importance of capital market engagement for sustainable and high-quality development [2] - Companies in the robotics sector must balance technological innovation with capital operations to avoid pitfalls such as technological hollowing and rushed transformations [2] - The true challenge for Zhiyuan Robotics lies in converting capital momentum into technological advancements, as the market will closely monitor its ability to achieve this [2]

Core Viewpoint - Zhongke Chuangxing Technology Investment Co., Ltd. has successfully raised 2.617 billion yuan for its inaugural venture capital fund focused on "hard technology" projects, particularly in the "artificial intelligence+" sector [1][3][4]. Group 1: Fund Overview - The Zhongke Chuangxing Pioneer Venture Capital Fund is the first hard technology fund established in the Yangtze River Delta, with 70% of its capital allocated to early-stage hard technology projects [3][4]. - The fund has an 8-year duration and aims to close its fundraising by the end of the year, with 70% of the funds targeting early-stage innovations and 30% for growth-stage projects [4]. Group 2: Investment Focus - The fund will primarily invest in hard technology projects that have knowledge, social, and economic value, with a strong emphasis on artificial intelligence and related fields such as photonics, quantum computing, and controlled nuclear fusion [5]. - Zhongke Chuangxing has a total management scale of 13.8 billion yuan and has invested in over 530 hard technology companies with critical core technologies [5]. Group 3: Incubator Development - Zhongke Chuangxing has established a high-quality incubator in Shanghai, focusing on "advanced incubation" and "deep incubation" to support the application of original innovations and the cultivation of cutting-edge technologies [6]. - The incubator aims to intervene at the early stages of technology development, supporting scientists in principle design and concept validation, while also participating in team building, product development, and commercial operations [6]. Group 4: Project Progress - The incubator has successfully advanced seven projects into "advanced incubation" or "deep incubation" stages, including collaborations with Fudan University on two-dimensional semiconductor technology [7]. - The Shanghai Science and Technology Commission has recognized Zhongke Chuangxing's rapid development and innovative incubation models, highlighting its potential for significant growth [7].

Group 1 - Zhongke Chuangxing Technology Investment Co., Ltd. held a fundraising ceremony for its Pioneer Venture Capital Fund, successfully raising 2.617 billion yuan in its first round [1][2] - The fund will invest 70% of its capital in early-stage hard technology projects and 30% in growth-stage projects, focusing on original innovation and technology maturation [2] - The fund aims to support hard technology breakthroughs in fields such as artificial intelligence, photon technology, quantum computing, and controllable nuclear fusion [2] Group 2 - Zhongke Chuangxing has a total fund management scale of 13.8 billion yuan and has invested in over 530 hard technology companies with critical core technologies [2] - The company emphasizes the importance of transforming scientific research achievements into productive forces and believes in the dual leap of knowledge value into social and economic value [2]