Der alte Trend ebbt, und die neue Küste taucht auf: Am 21. August treffen Sie sich mit Top-Investoren bei diesem „Fähranleger“-Treffen | Jiazi Gravity X

On August 21st, at the Grand Hyatt Beijing.

The equity investment market is the vane of future industrial development.

In the past few years, China's primary market has experienced a long "ebb tide period". Difficulties in fundraising, exit, and leading investments have become keywords that investors have to face repeatedly. The market is self - calibrating with caution, and capital is re - positioning in distress. The macro uncertainties are intertwined with the in - depth development of industries, making every technology investor realize that they are standing at a crossroads of choice.

The "old tide" is quietly receding. The old valuation system is gradually losing its effectiveness, the traditional fundraising channels are becoming increasingly narrow, and the once - effective investment logic seems increasingly burdensome in a changing world. However, it is precisely when the tide recedes that we can see clearly—who is swimming naked and who truly has the ability to weather the cycle.

Meanwhile, the "new shore" has emerged. The recovery of the Hong Kong stock market has opened an exit channel for some hard - tech companies; a new generation of domestic technology companies have started to support the industry and become limited partners (LPs); while local governments continue to play a fundamental supporting role, market - oriented funds are also re - finding their "anchors" in the structural adjustment. Under the subtle changes in the international environment, new capital channels, cooperation mechanisms, and valuation systems may be quietly being reconstructed.

In 2025, the global capital market is at a critical juncture of the transformation of old and new driving forces. The Hong Kong stock market has regained the global top position with a total IPO fundraising of HK$107.1 billion. The STAR Market of the A - share market has witnessed the magnificent debut of a leading semiconductor equipment company with a market value of 68.5 billion yuan. The cross - border acquisition of a listed company by Zhipu Robotics has created a collaborative model of "embodied intelligence + materials technology". The valuation divergence of CATL's Hong Kong - listed shares with a 30% premium over its A - shares and the 174.56% increase of Yitang Co., Ltd. on its first day of listing together depict the return of capital confidence.

This is a crossroads of differentiation, reconstruction, re - evaluation, and rebirth.

In this round of structural recovery, the differentiation among sectors is extremely significant. Embodied intelligence has become the strongest emerging trend. In the first half of 2025, there were over 140 financings in this industrial chain, with a total amount of up to 19.5 billion yuan, exceeding the level of the whole last year. Leading institutions such as Sequoia Capital China, Jinqiu Fund, and Hillhouse Ventures have increased their investments. CATL led a 1.1 - billion - yuan investment in Galaxy Universal, setting the largest single - round financing record in the humanoid robot field this year.

Meanwhile, in the AI field, the craze for "large models" is gradually fading, while the "AI Agent" is gaining momentum. Investment institutions have quickly shifted their attention to the AI Agent track, which can solve practical problems, has clear application scenarios, and has greater potential for rapid commercialization.

We are standing at the turning point of the cycle, looking back at the old route and looking forward to the new continent. This is not only a moment of choice full of uncertainties but also a moment of reconstruction that breeds a new order.

"The Old Tide and the New Shore" is not only an honest observation of reality but also a self - call to weather the cycle.

We need to face the difficulties head - on and also re - imagine:

How should technology capital reconstruct itself in the new technology cycle?

How can we reach a consensus on new certainties in an uncertain future?

There are no simple answers to these questions. But we believe that the answers lie in continuous exchanges, collisions, and explorations.

Therefore, on August 21st, 2025, the Chinese technology industry think - tank "Jazi Light - Year" will host the "Ferry Crossing — 2025 Jazi Gravity X China Technology Industry Investment Conference" in Beijing. It will join hands with first - tier investment institutions to jointly explore the direction and answers of future technology investment.

Highlight 1: The Grand Release of "2025 China Technology Investment: Pain Points, Trends, and Outlook"

At this conference, Zhang Yijia, the founder and CEO of Jazi Light - Year, will grandly release the Jazi Light - Year think - tank trend report: "2025 China Technology Investment: Pain Points, Trends, and Outlook". It will analyze the complex situation of the current market, where the decline has stopped and the market is recovering but bottlenecks still exist, and put forward prospectively N trends of China's technology investment in 2025 to help you gain insights in advance.

Highlight 2: Peak Dialogue: Exploring How Capital Bets on Disruptive Innovation

At this conference, "Jazi Light - Year" will invite top experts in the technology investment field, such as Lu Yongtao, the chairman of Hengxu Capital, Fei Jianjiang, the managing partner of Yuanhe Origin, Li Feng, the founding partner of Fengrui Capital, Xia Zhijin, the managing partner of Vertex Ventures, and Wang Xiao, the founder of Nine - Rivers Capital, for in - depth discussions. From different perspectives, they will present a peak dialogue on "Technological Singularity and Industrial Inflection Point: How Capital Bets on Disruptive Innovation", exploring how capital can make accurate judgments and decisive moves at the intersection of disruptive technologies and industrial changes.

Highlight 3: Five Round - Table Discussions Focus on Core Sectors to Plan the Route to the New Shore

In addition to the peak forum, the conference has also carefully arranged five industrial round - table discussions, focusing on five core sectors: artificial intelligence, new energy and new materials, chips and semiconductors, intelligent manufacturing, and medical health. At that time, top investors from various fields will conduct in - depth discussions on key issues such as risk management in the new cycle, the commercialization path of cutting - edge technologies, valuation logic, and diversified exit strategies for each sector, clearly outlining the industrial route map to the "new shore" for the participants.

Highlight 4: Release of the List to Pay Tribute to Those Who Weather the Cycle

All along, "Jazi Light - Year" has been deeply involved in hard - tech, intelligent manufacturing, and digital transformation, tracking the latest trends in industrial development and independently putting forward valuable industrial viewpoints. With a scientific evaluation system, it conducts multi - dimensional evaluations and comprehensive judgments on investment institutions in six sectors, including semiconductors and integrated circuits, artificial intelligence, high - end manufacturing, medical health, enterprise services, and new energy. When the tide recedes, who is swimming naked and who truly has the ability to weather the cycle? "Jazi Light - Year" will grandly announce the annual "Ferry Crossing" series list at the conference. The list covers institutions, individuals, and enterprises, aiming to set industry benchmarks and pay tribute to every peer who can weather the cycle.

Every rotation of the cycle is the beginning of challenges and a screening process—screening out enterprises with real core values, capital with long - term vision, and entrepreneurs with real resilience.

We look forward to meeting every peer standing at the forefront of the tide. Let's together identify the direction and head for the new shore.

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