英雄少年

Unitree IPO shifts focus to future_我的网站

使命召唤

一 |

　　今日，名记Jake Fischer在Bleacher Report节目中谈到了科怀·伦纳德的相关情况。

二 |

　　一直有消息称，NBA联盟将在未来几周内就相关调查做出结论。 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. 。此前一段时间，我从多位知情人士那里听说，调查结果可能在9月之前出炉。但后来又有消息提醒我，不必过分乐观——不过，在训练营开始前，或者说在12月中旬的某个时间节点，调查得出结果依然是相当现实且有可能的。届时，联盟的处罚决定和相应措施将会公之于众。

三 |

　　我所看到的唯一可能阻碍伦纳德方面及其乐观且雄心勃勃时间表（即他能在训练营期间加入猛龙）的因素，就是联盟对快船开出重磅罚单。

四 | 快船方面始终坚持他们没有任何违规行为，任何关于规避工资帽的表象都仅仅是表象而已。

五 | 因此，我获得的所有信息都表明，如果快船真的受到某种重大处罚，他们将就此与NBA启动仲裁程序。他们准备捍卫自己的声誉，寻求公正。

    　　那么，在这种情况下，联盟是否愿意将对快船的处罚与伦纳德的交易审批结果分开处理，将成为一个关键区别——尤其是猛龙只是在等待交易完成，以便有可能避免因伦纳德而承担处罚。因此，如果处罚只针对快船，而不涉及伦纳德，那么我认为交易将会通过，快船则会单独启动与联盟的仲裁程序，在和解或诉讼的框架下进行抗争。但也存在另一种可能性：如果伦纳德受到的处罚与快船不同，或者反过来，那么快船可以进入仲裁程序，而伦纳德则可以前往猛龙。

    　　总而言之，据多位知情人士透露，科怀·伦纳德坚信他将在训练营期间有资格加入猛龙，因为联盟的调查会在9月中旬的某个时间点结束，并且处罚决定也将在此后不久公布并执行。

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Published on:16:32:34