
Even More Legendary Than Amen Ring Is Its Founder
It's not called Amen Ring anymore — please call it: Glorify Ring.

Yunqi Capital Portfolio Company Noematrix Secures Another Strategic Funding Round of Hundreds of Millions of RMB | Yunqi Partners

A Conversation with Kunpeng: After Ten Years, His Dream of Live-Action Interactive Film Games Is Finally Being Seen

Liblib, what's your dream?
Here's to hoping we can keep winning.

The DeepSeek Financing Story
"The world was always meant to be this way."

I'm off to a portfolio company, bye.
We all have a bright future ahead of us.

Even More Legendary Than Amen Ring Is Its Founder
It's not called Amen Ring anymore — please call it: Glorify Ring.

Yunqi Capital Portfolio Company Noematrix Secures Another Strategic Funding Round of Hundreds of Millions of RMB | Yunqi Partners
Recently, **Yunqi Capital portfolio company Noematrix announced the completion of a new funding round worth several hundred million yuan**, with investors including the Shanghai Jiao Tong University AI Future Fund (Venture Fund), Shanghai Chuangzhi Technology Co., Ltd. (a wholly-owned subsidiary of Shanghai Chuangzhi Academy), Wuxi Data Group, V-Capital, and others.

A Conversation with Kunpeng: After Ten Years, His Dream of Live-Action Interactive Film Games Is Finally Being Seen
The real value of AI is in building dreams for smaller circles.

Has the Inflection Point for AI for Science Arrived?
Where will the next Nobel Prize emerge?

Who Will Own the Next Decade of AI Compute After the Global Semiconductor Stock Rally? | Linear View
Stock prices are a sentiment meter; the industry itself is the scale that measures true value.

Monolith's Xi Cao Named to Forbes 2026 Midas List
Made the list for two consecutive years on the strength of investments in MetaX, Unitree, and other companies.

After Opus 4.5, AI Is Giving Rise to "Giant-Style Hundred-Person Companies"
Speed of iteration matters above all else.

The Unforgettable Series C Funding of Moonshot AI
A stroke of genius.

Jinghe Biotech Closes Nearly RMB 400 Million Series B Round, Continues to Lead Domestic Targeted Radiopharmaceutical Innovation
Patient-centered, relentlessly refined.

100 Answers Chosen by Capital | 2026 "Most Watched" Company List Selection Now Open
Who gets seen, who gets bet on.

Yunqi Capital Earns Multiple Honors Including PEDaily "TOP100" Investors | Highlights Roundup
Side by side, toward something better.

ZhenFund angel project "Zhizi Xinyuan" closes new round of funding worth tens of millions of RMB, doubling down on AI for Computing
Advancing computing systems from "functional" to "efficient and optimizable" — a new phase.

A Mega IPO Launches Tonight, But China's Commercial Space Sector Doesn't Need to Copy SpaceX
Is Commercial Space Really a Good Business?

"Xinzhou Technology" Closes $50 Million Series A Led by Meituan | Linear Portfolio
An agent's capabilities ultimately come down to the underlying model training.

It's 2026, and we're still evaluating World Models the way Edison tested filaments.
A Serious Discussion on World Models

Drinking Beer with Lex Fridman in Beijing
He's come to China too.

ASTRONSTONE Raises 1 Billion RMB, Racing Toward First Flight of Reusable Medium-to-Heavy Launch Vehicle
Gaorong Ventures co-led the round.

Vol.005 | A Conversation with Gongyuan: And I Choose to Start a New Table

Sp.02 | A Conversation with Master Dong: The Untold Stories Behind 20 Years of Chinese Venture Capital

Vol.004 | Conversation with Richard Guo: Staying Out of the Fray, But Keeping on Winning

A Conversation with Kunpeng: Interactive Movie Games With Real Actors Suddenly Took Off — The Dream He'd Chased for Ten Years Finally Got Noticed

Vol.17 48-Hour Xiaohongshu Hackathon Hit: How an AI-Native Product That Broke the "Retention Curse" Was Built --- Two weekends ago, I participated in a 48-hour hackathon hosted by Xiaohongshu. Our team of four built an AI-native product from scratch — no code, no design background between us — and ended up winning the "Most Popular" award. The product? A voice diary app called **"Echo"** that uses AI to turn fragmented daily moments into serialized, episodic "life podcasts." Think *This American Life*, but starring you. What surprised me wasn't that we won. It was that people kept using it *after* the demo. Here's the dirty secret of AI hackathons: most projects die the moment judges stop clapping. The "retention curse" is real — users try your GPT wrapper once, say "neat," and never return. We broke that pattern. Our daily active user rate among beta testers hit 34% in week one, which for a hackathon product is basically unheard of. How? Three deliberate choices we made against hackathon orthodoxy. **First, we refused to build a chatbot.** The default AI product in 2024 is still "talk to a large language model." We explicitly rejected this. Chat interfaces create *performance anxiety* — users feel pressure to ask the "right

Huazhe Xu: Embodied AI Just Starting Its Race, People Who Won't Wait for an IPO | North Slope Project

Vol.001 | A Conversation with Yuan Liu: One Week with Manus, Ten Years with Xiao Hong

Vol.16 Tsinghua Entrepreneur-Scientist Huazhe Xu: From Intelligent "Hatching" to Home Embodiment, Stubbornly Chasing Originality in the AI Wave

E12. Gao Yang: A Thinking Reed, A Machine That Acts | Beipo Initiative

Sp.02 | A Conversation with Master Dong: The Untold Stories Behind 20 Years of Chinese Venture Capital

Vol.004 | Conversation with Richard Guo: Staying Out of the Fray, But Keeping on Winning

Vol.003 | In Conversation with Huang Yungang: From Moving Bricks in Xinjiang to VC — My Folded Life

Sp.01 | Debriefing China's Primary Market in 2025 (Ft. Crossroads)

Vol.17 48-Hour Xiaohongshu Hackathon Hit: How an AI-Native Product That Broke the "Retention Curse" Was Built --- Two weekends ago, I participated in a 48-hour hackathon hosted by Xiaohongshu. Our team of four built an AI-native product from scratch — no code, no design background between us — and ended up winning the "Most Popular" award. The product? A voice diary app called **"Echo"** that uses AI to turn fragmented daily moments into serialized, episodic "life podcasts." Think *This American Life*, but starring you. What surprised me wasn't that we won. It was that people kept using it *after* the demo. Here's the dirty secret of AI hackathons: most projects die the moment judges stop clapping. The "retention curse" is real — users try your GPT wrapper once, say "neat," and never return. We broke that pattern. Our daily active user rate among beta testers hit 34% in week one, which for a hackathon product is basically unheard of. How? Three deliberate choices we made against hackathon orthodoxy. **First, we refused to build a chatbot.** The default AI product in 2024 is still "talk to a large language model." We explicitly rejected this. Chat interfaces create *performance anxiety* — users feel pressure to ask the "right

Huazhe Xu: Embodied AI Just Starting Its Race, People Who Won't Wait for an IPO | North Slope Project

Vol.001 | A Conversation with Yuan Liu: One Week with Manus, Ten Years with Xiao Hong

Vol.16 Tsinghua Entrepreneur-Scientist Huazhe Xu: From Intelligent "Hatching" to Home Embodiment, Stubbornly Chasing Originality in the AI Wave

Vol.15: The Post-'98 Founder Who Built a $20M Business in Two Years — On Building an AI That Talks Back | A Conversation with Kicker's Founder

Special Edition: The North Face Project

A Conversation with ZhenFund Partner Yuan Liu: One Week with Manus, Ten Years with Red Xiao

Vol.14 OpenClaw Is Just the Beginning: Are Agents Reinventing the Company? | A Conversation with Happycapy's Founder

Vol. 13 The Smarter AI Social Gets, the More Human We Become Like NPCs? A Conversation with a Former Otome Game Writer and AI Social Entrepreneur on Relationships and AI

E10. Jinjian Zhang: In the Age of AI, Live as Yourself

Tsinghua PhD Crosses the Desert, Searching for the iPhone Moment of Green Hydrogen

Vol.12 Cuflow Yang Bolin: Gen Z Founder Building AI Products — Have Investor Standards Changed? | Y Transformers

E08. Gaoliming: AI Is the Oxygen of the New World

Tsinghua '97 Alumnus Qin Yudi: From an Abandoned Garage to AI Energy Management, He's Always Been Flying Close to the Ground

Vol.11 AI Translation Pushed to the Extreme: Where Innovation Begins — The Product Logic Behind a New Hit and Its Overseas Expansion "Playbook"















