将投中网设为"星标⭐"，第一时间收获最新推送 浦发银行党委委员、副行长、上海科创银行董事长康杰 代表集团战略引领方指出，上海信托是浦 发"大科创板块"的战略出资主渠道，承担了管理上海先导基金、科创基金等"为国担当"任务。上海 信托孵化的上信资产、浦耀信晔等专业股权投资平台，是浦发银行打造科技伙伴生态圈的重要载体。 他强调，作为上海市金融旗舰企业，浦发银行已将科技金融列为战略核心赛道，正打造自主知识产权 的风控模型、获客体系及产品矩阵。最后，他引用"信托的应用范围可与人类的想象力相媲美"的观 点，认为信托的灵活性远超传统银行，为构建开放生态提供独特优势。浦发银行将支持上海信托及其 下属平台，联合多方伙伴，共同打造"独立但严丝合缝、主动却不干预"的科创生态。 上海临床创新转化研究院有限公司董事长王兴鹏 从医疗创新视角呼应主题，直言"资本与医疗创新同 频共振是破局关键"。他剖析当前医疗成果转化痛点：90%项目因"医、研、资"体系割裂倒在产业化 最后一公里，并提出建立医疗专利分级评估模型、设立临床转化基金和构建医疗科技IPO培育库等三 项生态共建行动，呼吁投资机构组建医学顾问委员会，以"临床洞察型资本"穿越需求迷雾， ...

丨 来源：总台央视 2025-07-22 ...

Group 1 - China's VC market is experiencing a significant turnaround with several leading VC firms restarting USD fundraisings, totaling over $2 billion, marking the largest scale of USD capital inflow since 2019 [2] - Key participants in this fundraising include Lightspeed China, Monolith Capital, Black Ant Capital, and others, focusing on deep technology, AI, new consumption, and overseas expansion [2] - The revival is driven by a notable recovery in the Hong Kong IPO market and breakthroughs in hard technology sectors, prompting international investors to reassess the Chinese market [2] Group 2 - Guangxi has launched its first industrial venture capital mother fund to support industrial development, aiming to accelerate the cultivation of emerging industries and upgrade traditional industries [3] - The fund has a diverse funding structure, including government guidance funds, state-owned enterprises, and social capital, allowing for macroeconomic regulation and resource advantages [3] - Changshi Capital's hard technology fund has successfully raised 728 million yuan, indicating strong market recognition of its investment capabilities [3] Group 3 - The management fee structure in the VC/PE industry is undergoing a structural adjustment, moving from a traditional "2% management fee + 20% performance share" model to more diversified and flexible arrangements [4] - Government guidance funds have reduced management fees to as low as 1.5%, with performance extraction mechanisms becoming more common, linking fees to investment progress and returns [4] - The shift is influenced by changes in LP funding structures, with a significant focus on social benefits and audit risks driving fee rate reforms [4] Group 4 - Lithium Tai New Energy has completed a 10 million yuan angel round financing, which will be used for the industrialization of fire suppression agents for lithium batteries and smart fire control systems [5] - The company has developed a fire suppression agent that outperforms traditional agents, addressing safety concerns in the lithium battery sector [5] - Qianxun Intelligent has raised nearly 600 million yuan in Pre-A+ financing, led by JD.com, to enhance its capital and industrial synergy for technology innovation and industrialization [6] Group 5 - The IPO application of Shenzhen Beixin Life Technology has been approved, focusing on innovative medical devices for cardiovascular disease treatment, with plans to raise 952 million yuan for industrialization and R&D [9] - Hango Group has initiated a new stock subscription, aiming to raise funds for smart home hardware manufacturing and R&D, with an attractive issuance price [10] - Several companies have seen their Hong Kong IPO applications expire, necessitating the resubmission of updated financial data to continue the listing process [10]

将投中网设为"星标⭐"，第一时间收获最新推送 携手创业之路，共赴未至之峰。 来源丨 投中网 昨日，由浦东科创集团联合投中信息共同发起的"浦东科创-海望登峰（二期）CEO特训营"正式启 幕，30余位来自硬科技赛道的优秀创业者齐聚一堂，开启为期数月的深度学习旅程。 本期特训营围绕企业管理、资本运作、市场拓展与组织能力建设四大维度，通过课程培训、标杆企业 参访、闭门交流等多元方式，赋能早期科技创业者从"创始人"迈向"企业家"。 浦东科创集团党委书记、执行董事傅红岩，浦东科创集团总经理徐杨，投中信息首席执行官杨晓磊出 席典礼并致辞，浦东新区科经委、国资委、区委金融办、投资促进中心等相关单位领导到场见证，共 同启动这一面向科技创业者的成长计划。 在开学典礼上，主办方 浦东科创集团党委书记、执行董事傅红岩 致辞指出，浦东科创集团自1999年 成立以来始终深耕科技服务，见证并助力了中微半导体、盛美等硬科技企业的发展。为更好支持创业 者应对不确定性，集团联合各方资源打造特训营平台，提供从资本、政策到产业对接的一体化服务， 帮助企业更高效成长。他介绍，特训营坚持高标准遴选，重点关注在关键技术、核心环节具备战略价 值的创业项目， ...

活动现场人气爆棚，产业界和投资界的业内人士齐聚一堂，更有不少嘉宾站着听完了全场。一位专程从中山赶来的企业家坦言："特意过来 学习交流，收获很大。" 政策暖风激活资本动能 深圳市工业和信息化局党组成员、深圳市中小企业服务局局长吕哲在致辞中 指出， 深圳正全力打造全球独角兽企业培育高地，出台《深圳 市有力有效支持发展瞪羚企业 、 独角兽企业行动计划 （ 2025—2027年） 》，构建起 " 政策引导+资本赋能+生态培育 " 的全链条支持 【导读】2025中国（深圳）独角兽企业大会在深圳启幕 中国基金报记者 杨晨 7月17日， 以"新质驱动・未来领航"为主题的 2025中国（深圳）独角兽企业大会 在深圳正式启幕 。 这场 聚焦硬科技发展 的 盛会由深 圳市工业和信息化局、深圳市中小企业服务局指导，长城战略咨询、交通银行、深创投、国信证券、深圳报业集团联合主办，北京与仁科 技服务有限公司、深圳私募基金业协会、深证中小企业服务中心共同承办。 作为大会的首场活动，当日开展的"未来独角兽融资路演会""点燃"现场热度，共有11家硬科技企业登台亮相。参与企业以"7分钟极速路演 +3分钟高压问答"的形式，直面资本检验。 体系 ...

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]

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 - Zhongke Chuangxing has established its first hard technology venture capital fund in the Yangtze River Delta, raising 2.617 billion yuan in its first round of fundraising, with a focus on early-stage hard technology projects, particularly in the "Artificial Intelligence+" sector [2][3][6]. Fund Overview - The newly established fund will allocate 70% of its capital to early-stage hard technology projects, aiming to support original innovations from the "0 to 1" stage, while the remaining 30% will target growth-stage projects to facilitate technology maturation from "1 to 10" [3][6]. - The fund is registered in Shanghai Pudong and has an 8-year duration, with plans to close fundraising by the end of this year [6]. Strategic Partnerships - Zhongke Chuangxing has signed cooperation agreements with 19 limited partners, including national and local investment funds, to enhance collaboration in high-quality incubation and the integration of capital and technology [5][7]. - The Shanghai Science and Technology Commission has expressed support for Zhongke Chuangxing's innovative incubation models, emphasizing the importance of tailored strategies for different incubators [7]. Investment Focus - The fund will primarily invest in hard technology projects within the fields of material, energy, information, life, and space, with a strong emphasis on artificial intelligence [6][11]. - Zhongke Chuangxing has a history of investing in various sectors, including photonics, semiconductors, commercial aerospace, artificial intelligence, quantum computing, and controllable nuclear fusion, establishing a comprehensive AI investment layout [9][10]. Ecosystem Development - The company aims to build a hard technology innovation ecosystem by collaborating with various resources and focusing on projects that possess knowledge, social, and economic value [11]. - Zhongke Chuangxing has already invested in over 60 hard technology companies in Shanghai, with total investments amounting to several billion yuan [14]. Incubation Strategy - The high-quality incubator established by Zhongke Chuangxing focuses on "advanced incubation" and "deep incubation," targeting early-stage innovations and supporting scientists in transforming research into practical applications [15]. - The incubator has successfully advanced several projects into the incubation phase, including a collaboration with Fudan University on two-dimensional semiconductor technology [15].

2)港股科技：恒生科技指数ETF(513180)，中国核心AI资产，囊括相对A股更为稀缺的科技龙头。 光大证券认为，下半年市场将开启下一阶段上涨行情，并有望突破2024年下半年的阶段性高点。消费板块，关注三个方向：1)内需补贴相关方向，包括家 电、消费电子以及港股汽车(部分标的相较于A股具有稀缺性)；2)线下服务消费方向，包括港股餐饮、港股旅游(二者部分标的相较于A股均具有稀缺性)；3) 新消费方向。 硬科技与新消费共振，聚焦港股新CP(支持T+0)： 1)港股消费：港股消费ETF(513230)，打包电商+新消费，覆盖相对A股更为稀缺的新消费赛道； 7月15日，泡泡玛特发布业绩预告，称集团2025年上半年(截至2025年6月30日止)收入预计同比增长不低于200%；集团溢利(不包括未完成统计的金融工具的 公允价值变动损益)预计同比增长不低于350%。2024年上半年，泡泡玛特实现营收45.58亿元，按照预告的增速，今年上半年，泡泡玛特的营收将超过135亿 元，这一数字甚至超过其2024年全年营收。 关于业绩波动，泡泡玛特归纳为三个原因：一是泡泡玛特品牌及旗下IP在全球认可度进一步提升，多样化的产品品类促进收 ...

Core Insights - The global venture capital market reached $94.6 billion in Q2 2025, marking the second-highest level in recent years, despite a significant drop in the number of deals to an eight-year low [2][9][14] - The current investment landscape is characterized by a "winner-takes-all" mentality, with funds increasingly concentrated on top-tier projects, making it crucial for entrepreneurs to understand the new rules of the game [4][3] Investment Trends - AI continues to dominate, attracting half of the total investment funds, with AI-tagged companies enjoying a median financing amount of $4.6 million, significantly higher than the market average [5][7][24] - Hard technology is on the rise, with six out of the top ten financing cases in Q2 2025 directed towards this sector, driven by factors such as the resurgence of U.S. manufacturing and advancements in clean energy [16][21] - Corporate venture capital (CVC) investments have decreased to a seven-year low, but the average deal size has reached its highest level since 2021, indicating a shift towards fewer, larger investments [39][42] Sector-Specific Insights - Defense technology is becoming a hotbed for investment, with a median revenue multiple of 17.4, slightly higher than AI companies, reflecting strong investor confidence [20] - The quantum computing sector saw $2.2 billion in investments in the first half of 2025, a 69% increase from the previous year, as major tech companies make significant breakthroughs [57][61] - The nuclear energy sector is experiencing a revival, with projected investments reaching $5 billion in 2025, driven by the energy demands of the AI industry [63][71] Future Investment Opportunities - The stablecoin market is expected to see explosive growth, with projected funding reaching $10.2 billion in 2025, fueled by improved regulatory conditions [46][49] - The defense technology sector is anticipated to attract more investors, with the number of participating institutions expected to grow by 34% from 2024 to 2025 [54] - The nuclear energy sector is positioned to become a critical infrastructure component in the AI era, as companies seek reliable energy sources to support their operations [71]