① The remote-eight carrier rocket ‘Force Arrow One’ was successfully launched; ② Ubtech Robotics won a billion-yuan order for humanoid robots; ③ MaxiTech will go public on October 24.
The科创板Daily, October 20th report: Today’s main highlights from the Sci-Tech Innovation Board include: the successful launch of the remote-eight carrier rocket ‘Force Arrow One’; Ubtech Robotics winning a billion-yuan order for humanoid robots; and MaxiTech scheduled to go public on October 24.
The STAR Market Daily, presented by host Xiao K.
Market Dynamics
Yin Hetun, Minister of Science and Technology, presided over regional and departmental symposiums on the ’15th Five-Year Plan’ for national science and technology innovation development.
Yin Hetun, Secretary of the Party Leadership Group and Minister of the Ministry of Science and Technology, presided over regional and departmental symposiums on the ’15th Five-Year Plan’ for national science and technology innovation development on October 11 and 17. He listened to opinions and suggestions from relevant regions and departments regarding the goals, tasks, and initiatives for building a strong science and technology nation during the ’15th Five-Year Plan’ period. Yin Hetun emphasized that the ’15th Five-Year Plan’ period is a critical phase for advancing the construction of a strong science and technology nation. Seizing opportunities in the new round of scientific and technological revolution and industrial transformation, addressing complex international dynamics, and supporting high-quality development impose higher demands on science and technology work. Accurately understanding the characteristics of this phase, mobilizing all available resources, and scientifically planning the goals, tasks, and key measures for science and technology innovation during the ’15th Five-Year Plan’ are of great significance for accelerating self-reliance in advanced science and technology and establishing a strong science and technology nation.
The user base of generative artificial intelligence in China has exceeded 500 million.
The China Internet Network Information Center (CNNIC) released the ‘Generative Artificial Intelligence Application Development Report (2025)’ at the 2025 (6th) China Internet Infrastructure Resources Conference. The report shows that as of June 2025, the number of generative artificial intelligence users in China reached 515 million, an increase of 266 million from December 2024, doubling the user base within half a year; the penetration rate stood at 36.5%.
Jensen Huang: NVIDIA’s market share of high-end chips in China has dropped from 95% to 0%.
Jensen Huang, CEO of NVIDIA Corporation, recently stated that due to U.S. export controls, this American semiconductor giant has been banned from selling its advanced products to mainland Chinese enterprises, resulting in its market share of high-end chips in China plummeting from 95% to 0%.
Successful Launch of the Zhuque-1 Yao-8 Carrier Rocket
At 11:33 a.m. on October 19, the Zhuque-1 Yao-8 carrier rocket was launched from the Dongfeng Commercial Aerospace Innovation Test Zone. It successfully delivered three satellites—Pakistan Remote Sensing Satellite 02, Zhongke Satellite 03, and Zhongke Satellite 04—into their designated orbits. The flight test mission was accomplished with complete success.
Ubtech Robotics’ Walker Humanoid Robot Secures Another Billion-Yuan Order
Reporters from The STAR Market Daily learned that Ubtech Robotics has won the bid for the ‘Guangxi Embodied Intelligence Data Collection and Testing Center Equipment Procurement and Installation’ project, with an order value of 126 million yuan. According to the project plan, this procurement includes Ubtech’s latest fully autonomous embodied intelligence humanoid robot, Walker S2, which features self-powered battery swapping. To date, orders for Ubtech’s Walker series humanoid robots have exceeded 630 million yuan for the year.
Corporate Perspectives
The Shanghai Stock Exchange Listing Committee will review the initial public offering of Maxin Integrated Circuits (Shanghai) Co., Ltd. on October 24.
The Listing Review Committee of the Shanghai Stock Exchange announced on October 17 that it has scheduled the 46th review meeting for 2025 to be held on October 24, 2025, to deliberate on the initial public offering of Muxi Integrated Circuit (Shanghai) Co., Ltd.
Sanhua: The company plans to adjust the upper limit of its share repurchase price from 35.75 yuan per share to 60 yuan per share.
Sanhua (002050.SZ) announced that the company plans to adjust the upper limit of the share repurchase price from RMB 35.75 per share to RMB 60 per share and extend the implementation period of the repurchase to February 28, 2026. This adjustment reflects the company’s recognition of its long-term value and confidence in its development prospects, as well as ensuring the smooth implementation of the repurchase plan. Except for the adjustments to the price cap and implementation timeline, all other aspects of the repurchase plan remain unchanged. The company has repurchased 1.5068 million shares through centralized bidding, with a total transaction amount of RMB 35.9715 million.
Cambricon: Net profit for the first three quarters reached 1.6 billion yuan.
Cambrian Technology (688256.SH) released its Q3 2025 report, with revenue reaching RMB 1.727 billion in Q3, representing a year-on-year increase of 1,332.52%; net profit amounted to RMB 567 million. For the first three quarters, revenue reached RMB 4.607 billion, a year-on-year increase of 2,386.38%, with a net profit of RMB 1.605 billion. The latest list of top ten shareholders shows that Zhang Jianping, a prominent individual investor, ranked as the fifth-largest shareholder, increasing his stake from 1.46% at the end of Q2 to 1.53%, with an additional purchase of 320,000 shares.
GoerTek: Termination of plans to acquire 100% equity of Mega Precision Technology Limited and Channel Well Industrial Limited for HKD 10.4 billion
GoerTek (002241.SZ) announced that the company originally intended to acquire 100% equity of Mega Precision Technology Limited and Channel Well Industrial Limited, wholly-owned subsidiaries of Luen Fung Commercial Holdings Limited, for approximately HKD 10.4 billion (equivalent to RMB 9.5 billion) using its own or raised funds. However, due to the inability of both parties to reach a consensus on key terms related to the transaction, the company decided to terminate the planning of this equity acquisition.
Silan Microelectronics: Plans joint investment of RMB 20 billion to construct a 12-inch high-end analog integrated circuit chip manufacturing production line project
Silan Micro (600460.SH) announced that the company, together with the Xiamen Municipal Government and the Haicang District Government of Xiamen City, signed the ‘Strategic Cooperation Agreement on the 12-inch High-end Analog Integrated Circuit Chip Manufacturing Production Line Project’ in Xiamen on October 18, 2025. Meanwhile, the company and its wholly-owned subsidiary, Silan Micro (Xiamen), plan to jointly increase the capital of their subsidiary, Silan Jihua, by 5.1 billion yuan, along with Xiamen Semiconductor Investment Group and Xiamen Xinyi Technology Industry. Silan Jihua will act as the implementation entity for the ’12-inch High-end Analog Integrated Circuit Chip Manufacturing Production Line Project.’ The project is planned to have a total investment of 20 billion yuan, with a planned production capacity of 45,000 wafers per month, to be implemented in two phases. After the completion of both phases, an annual production capacity of 540,000 wafers will be achieved in the Haicang District of Xiamen.
Zelgen Pharma: Clinical data for ZG006 and ZG005 to be presented at the 2025 European Society for Medical Oncology (ESMO) Annual Meeting
Zelgen Pharma (688266.SH) announced that clinical research data and the latest updates for its self-developed drugs Alveltamig (code name: ZG006) and Nilvanstomig (code name: ZG005) will be presented at the European Society for Medical Oncology (ESMO) Annual Meeting, which will take place from October 17 to 21, 2025. ZG006 is the world’s first trispecific antibody targeting DLL3 (DLL3×DLL3×CD3), representing a first-in-class molecular format with the potential to become a best-in-class molecule. ZG005 is one of the first drugs globally to enter clinical trials for the same target, and no drug with a similar mechanism has yet been approved for marketing worldwide.
Sunshine Norva: Plans to subscribe for Yuanma Zhiyao’s equity with RMB 15 million; Yuanma Zhiyao is expected to become the world’s first modified circular mRNA in vivo CAR-T therapy to enter clinical trials
Sunshine Norva (688621.SH) announced that, to advance its overall strategic layout in the fields of in vivo CAR-T cell therapy and nucleic acid drugs, the company intends to contribute RMB 15 million in own funds to subscribe for an additional registered capital of RMB 110,556 yuan in Yuanma Zhiyao. After the completion of the capital increase, it will hold 8.20% of its equity. Yuanma Zhiyao focuses on the innovation and development of circular mRNA in vivo CAR-T nucleic acid drugs and has completed early-stage research and development for multiple pipelines, including circular mRNA in vivo CAR-T, rapidly advancing toward clinical research. It is expected to become the world’s first modified circular mRNA in vivo CAR-T therapy to enter clinical trials.
Zhuhai CosMX: Forecasts Q3 net profit growth of 50.43%-80.51% year-over-year
Zhuhai CosMX (688772.SH) announced that the net profit attributable to shareholders of the listed company for the first three quarters of 2025 is expected to reach RMB 3.67 billion–RMB 4.17 billion, representing a year-on-year increase of 36.88%-55.54%. The net profit attributable to shareholders in Q3 is projected at RMB 2.5 billion–RMB 3 billion, marking a year-on-year growth of 50.43%-80.51%. This performance improvement is primarily driven by an increase in customer share and optimized cost and expense control achieved through continued refined operations.
Puya Semiconductor: Plans to Establish a Wholly-Owned Subsidiary in Hong Kong
Puya Semiconductor (688766.SH) announced that, based on its overall development plan, the company intends to establish a wholly-owned subsidiary in Hong Kong named Puya Semiconductor (Hong Kong) Limited, with an investment amount of USD 1 million.
Frontiers of Technology
Scientists Observe Quantum Effects in Organic Materials
For the first time, scientists at the Cavendish Laboratory of the University of Cambridge have observed a quantum effect in organic materials that was previously thought to exist only in inorganic metal oxides. These unique organic molecules can leverage this quantum mechanism to convert light energy into electrical energy with extremely high efficiency. This breakthrough could lead to simpler, lighter, and more cost-effective solar cells. The related research findings were published in the latest issue of the journal Nature Materials.
Research Institutions Extract New Anti-Inflammatory and Anti-Aging Ingredients from Various Plants
The VTT Technical Research Centre of Finland, in collaboration with research institutions and enterprises across multiple European countries, has discovered several new plant-based ingredients with anti-inflammatory and anti-aging properties as part of a recent research project, providing new directions for sustainable skincare product development. The InnCoCells project team, coordinated by the VTT Technical Research Centre of Finland, screened over 100 plant extracts to evaluate their impact on 20 biomarkers associated with skin inflammation and aging, ultimately identifying approximately 25 candidate ingredients with development potential. These ingredients can be sourced from plants cultivated in greenhouses, plant cells and tissues grown in bioreactors, or agricultural by-products repurposed through upcycling, combining efficacy with environmental sustainability.
