Keys Room
SCIENCE: A NEW GOLDEN AGE
Turning science fiction into reality
In one field after another, his genius and determination have made science fiction into reality.
(“chopstick” catch recovery)
(dual-link design)
defect-free physical qubits
(animal study)
G Club (Glacier Club) Professional · Low-key · Lively · Disciplined
Glacier KP · G CLUB
Shangliangnao GroupGlacier Double12 Hard-Tech Innovation Festival
Select rigorously for certainty. Embrace the new paradigm.
Welcoming the great age of AI/SI and interstellar space
Glacier is a fact, not just a company. The joy of innovation comes from sharing it together.
庚辛，是事实，不只是公司。科创的快乐，来自大家一起分享交流。
The world has many trade shows, but only one CES. There will be many innovation festivals on 12.12, and Glacier’s aims to be a CES for hard tech: an expo built for real results.
世界上有很多展会，但只有一个 CES。12.12 会有很多科创节，庚辛的科创节想做成科创版的 CES：一场讲实效的展会。
- Rise with the nation's momentum. Share the nation's dream.
- Squeeze out the bubble. Select for certainty. Embrace the new paradigm.
- Every task on a list. Every loop closed. A named lead for every team. Performance judged on the front line.
- Right heart, right mind. Blessings follow.
- Care, patience, love, unity, tolerance.
- Eat what you hunt.
- The long war cannot be rushed. The decisive war cannot be delayed.
- Stay grounded. Stay human. Stay humble.
- Take charge of your own fate. Push the limits of growth.
- The world is the totality of facts, not of things. — Wittgenstein
- We supply the ammunition. Investors pull the trigger themselves.
- Lead by example. Create for others.
- Train the sword with full focus. Nothing beats speed.
October 2026 · Industry research & observations
It is short of projects that make people believe in fairy tales again.
In the second half of the year, only two ends of the market remain:the earliest round, and the most certain round.
Shangliangnao Group · 4 projects: reusable liquid rocket, satellite communication and computing network, neutral-atom quantum computing, non-invasive brain-computer interface.
RESEARCH
2026.10
Glacier Double12 Hard-Tech Innovation Festival
Quality Engineering
1212 sets no transaction-value target. Glacier strictly limits the number of new projects it takes on, to protect service quality. Transaction value and project count are two different constraints. We assess our work by post-investment satisfaction, founder satisfaction, project returns and the extent of our own capital commitment. Quality is the standard by which we judge and position ourselves, and whether we exceed expectations matters. Everyone owns quality engineering.
KEYS is the capital-market parallel computing platform and programming model from the Pyramid Institute. Defined by the whole Glacier team and continually upgraded, it organises price bands, transaction structures, timing and the Golden Window into relationships that can be executed and tested. We hope it will become the CUDA of capital markets.
Nurturing all things, bringing goodwill across the seas.
SPACE, QUANTUM, FUSION & BCI
Shangliangnao Group
Closing 12.12 · Into Christmas
From reusable heavy rockets and satellite communication-and-computing networks to quantum computing and non-invasive brain-computer interfaces.
Our view of this groupFrontier fields are moving from telling stories to handing in homework. Capital will pay for engineering progress it can see: first-stage structure and ignition, on-orbit validation, full-system delivery, animal validation through to clinical enrolment. Satellite communication is the space-based application with the clearest commercial loop.
How we chooseLicences and engineering first; engineering capability and commercial capability together; the next milestone in plain view. Scientist-founders are equally welcome, as long as the route starts from first principles.
Stainless-steel LOX-methane heavy rocketReusable liquid rocket · an engineering-led founding team
Commercial space 2.0 Select for certainty · Embrace the new paradigmSpaceX's valuation is back above US$2 trillion (October 2026).
“The first principle of rockets: with launch success assured, make each kilogram as cheap as it can possibly be.”
LINK THE UNIVERSE
The founding team comes from the core development system of the national heavy-lift launch vehicle.
From day one the whole rocket is built to the Starship end-state architecture: stainless steel + LOX-methane + “chopstick” catch recovery.
Demand estimate: the Guowang and Yuanxin constellations create demand for more than 300 launches a year, while private rocket makers together can build fewer than 30. Supply creates the market.
- Team: the founder and co-founder both come from the core development system of the national heavy-lift launch vehicle, with experience in both propulsion and overall vehicle design.
- Cost estimate: material at about ¥20k versus ¥70k per tonne, material utilisation 90% versus 10%; a whole rocket at about ¥120m versus ¥170m. Chopstick recovery splits one 100-point problem into three 90-point problems.
- Industry support: leading institutions and industrial players keep adding capital, with upstream and downstream partners moving in step.
Communication and computing: building a space-based backboneSatellite communication and computing network
SPACE INFRA · Communication and computing Select for certainty · Embrace the new paradigmSATELLITE COMMUNICATION & COMPUTING
Plans a satellite communication and computing network that gives overseas energy, mining, infrastructure and telecom customers high-bandwidth links and on-orbit computing, and provides relay services for low-Earth-orbit satellites.
Built on mature satellite-platform technology, with dual microwave and laser links.
- Product: the first satellite is designed for communication, computing and storage, and relay. In-orbit service is validated first, then the network is built out in phases.
- Stage: plans to launch the first batch of satellites in 2027, then build out the network in phases and begin commercial trials; large space-based compute nodes are the next direction.
Neutral-atom quantum computingNeutral-atom quantum computer, full system
Quantum · Full system Select for certainty · Embrace the new paradigmThe biggest pain in quantum is that investors cannot understand it or verify it. This company pulls back the curtain and lets investors see the full machine with their own eyes.
NEUTRAL ATOM
Engineering, done pragmatically.
Has released a full-stack integrated machine with thousand-qubit-class defect-free physical qubits, using a “storage–entanglement” zoned architecture.
Has won commercial orders, with several industrial players on board.
- Team: the founder has a top overseas physics background and built the full system with self-raised funding.
- Position: a Chinese full-stack maker in the first tier of commercial neutral-atom computing worldwide, able to deliver full systems above a thousand qubits.
Non-invasive brain-computer interfaceNon-invasive brain-computer interface · academician-level scientific advisers
Brain-computer interface · BRAIN WORLD MODEL Select for certainty · Embrace the new paradigm“The OpenAI of brain-computer interfaces.”
SINGLE-NEURON MODEL × REAL-WORLD DATA
An academician-level scientific team models how the brain works and builds a non-invasive brain-computer interface, aiming for neuromodulation effects close to invasive methods.
Mechanistic modelling at the single-neuron level × an ecosystem for collecting high-quality real-world data.
Whole-brain mechanistic modelling is among the most advanced in the world, moving from a digital fruit fly to a digital mouse: from the “GPT-2” of BCI towards its “GPT-3”.
Skill-training time is markedly shorter; after the light stimulus is removed, the mice can still reproduce the skill on a given cue.
A foundation model assists the development of human decoding tasks; performance across devices and populations still needs unified testing.
An exploratory clinical study in Parkinson's disease is planned, run through a provincial-level BCI clinical-trial base.
GLACIER · FISCAL YEAR III
Glacier Fiscal Year III calendar, 2026 (7 Oct 2026 – 30 Jan 2027)
Four months: October, November and December 2026, and January 2027. The season starts on 7 October, closes on 12 December (the Glacier Double12 Hard-Tech Innovation Festival, or Glacier 1212 Festival for short) and ends on 30 January.
Key dates
- 10.1–10.7National Day holiday(Thursday 1 Oct to Wednesday 7 Oct, 7 days)
- 10.7Start of Glacier Fiscal Year IIIThe last day of the National Day holiday.
- Today
- 10.10Make-up workday(Saturday)
- OctoberNon-invasive brain-computer interface: first patient enrolment planned for the exploratory Parkinson's clinical study
- 12.121212 Closing Day · Glacier 1212 Festival · 12:12No transaction-value target.
- 12.25Christmas
- 2027.1.1New Year's Day(Friday)
- 2027.1.30End of Glacier Fiscal Year III
Holiday source: General Office of the State Council, Notice on the 2026 Public Holiday Arrangements (4 November 2025, full text at Xinhua) ↗.
