Hard Technology "Descends to the World"

When it comes to stock trading, look at the Jin Qilin analyst reports, authoritative, professional, timely, and comprehensive, helping you uncover potential thematic opportunities!

Source: Beijing Business Daily

At the 2026 Zhongguancun Forum Annual Conference, not only hard technology is a buzzword, but also capital. Multiple significant parallel forums and events closely connect these two keywords.

“We used to say it was difficult to invest in hard technology. Now, although hard technology is booming, many people are still unwilling to invest,” said Mi Lei, founding partner of Zhongke Chuangxing, raising such a question at the “Hard Technology Investment and Development Forum” held on March 28.

The three forums held the next day attempted to respond to Mi Lei’s question from different angles.

The morning AI Future Forum focused on three keywords: leap, investment, and symbiosis. Against the backdrop of artificial intelligence igniting a new round of technological revolution, when technological leaps receive capital investment, the market will pay more attention to technological innovation and industrial innovation, and the survival story of hard technology companies has a chance to be rewritten.

The two afternoon forums on capital-driven strategic emerging industries targeted the commercial aerospace and healthcare industries. Both directions are golden tracks closely watched by capital, and are also the most typical sub-markets in the hard technology IPO wave.

In fact, not only commercial aerospace and healthcare, but the domestic substitution window created by the current complex situation is bringing new hope to hard technology companies in some key areas, which have been deeply cultivating technology for many years and are finally being recognized by capital and clients.

Hard technology inherently possesses “contradictory” attributes. On one hand, under economic uncertainty, strongly promoting technological innovation is the greatest certainty, and the development of hard technology continues to lead, with cutting-edge technology rushing to the market more forcefully. Hard technology is also the best tool for addressing shortcomings. Strategic industries such as semiconductors, new energy, and high-end manufacturing will receive unprecedented high attention from the market.

On the other hand, hard technology companies themselves have many characteristics that are incompatible with investor demands. Their main business scales are small, profitability is difficult, and other financial data do not look good; the commercialization cycle of new technologies is long, and future expectations are unclear.

Therefore, whether for entrepreneurs or investors, facing hard technology tests both determination and endurance. Fortunately, after experiencing the ups and downs of hard technology IPOs in recent years, companies and investors have finally become familiar and embraced each other in the spring.

Just before the opening of the Zhongguancun Forum, Yushu Technology’s IPO application for the Sci-Tech Innovation Board was officially accepted by the Shanghai Stock Exchange.

This news is not surprising, but its impact is remarkable. The path of hard technology rushing to the market has long been clear.

In the past year, China’s hard technology has experienced an IPO wave, with fierce competition in the A and H markets for hard technology companies, betting on their technology and future. Covering numerous fields such as artificial intelligence, integrated circuits, commercial aerospace, and biotechnology, a group of high-tech hard technology enterprises have welcomed a critical leap into the capital market.

After Yushu, dozens of companies such as Leju Robotics and Yundongchu have announced clear listing plans, and more like Zhipu and Moore Threads are preparing to head to the capital market for examination.

Using the hardness of hard technology and sustainable business capabilities to rush to the market during this rare window period is not only a confidence boost for hard technology itself but also the greatest confidence for the Chinese economy.

Sina Statement: This message is reproduced from Sina’s cooperative media, and the publication of this article on Sina.com is for the purpose of conveying more information, and does not imply endorsement of its views or confirmation of its descriptions. The content of the article is for reference only and does not constitute investment advice. Investors operate at their own risk based on this.

Massive information, precise interpretation, all available on the Sina Finance APP

Editor: Gao Jia