STAR Market companies are gradually entering a "realization period" for innovation achievements.

Recently, STAR Market companies have reported a stream of R&D breakthroughs. From the first patient enrolled in an innovative drug trial and the approval of new indications to the mass production of an integrated circuit memory platform, an increasing number of R&D achievements are being translated into tangible innovative output. A review of recent progress shows that hard-tech enterprises on the STAR Market are moving from "sustained investment" to "delivery of results," achieving dense breakthroughs in key tracks such as integrated circuits and biomedicine, and demonstrating the strong momentum of China's hard-tech industry as it advances toward high-end, large-scale, and international development.